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HUD/OH RIN: 2502-AI99 Publication ID: Fall 2011 
Title: ●Federal Housing Administration (FHA): Time Restrictions on Re-Sale of FHA-Insured Properties(FR-5528)  
Abstract: This proposed rule would revise HUD's regulations governing the time restrictions on the use of FHA financing to purchase properties that are resold, within certain time periods, after the previous acquisition of such properties. Through this rule, HUD proposes two changes. HUD proposes to remove the permanent exclusion of eligibility for FHA mortgage insurance for properties that are resold within 90 days or less of the prior acquisition. Additionally, HUD proposes to provide the documentation requirements applicable to such time periods in a Federal Register notice and HUDs website, instead of having such conditions codified in HUD's regulations. The waiver of HUD's time restrictions on re-sales of properties, for which FHA mortgage insurance is sought, occurring within 90 days that commenced in 2010 and continued in 2011, demonstrated to HUD that prohibiting all properties, without exception, resold within 90 days from eligibility for FHA mortgage insurance was no longer necessary. Additionally, the waiver underscored the need for HUD to be able to adjust the conditions of the time restrictions of re-sales depending on the state of the housing market. HUD waived its regulations restricting re-sales within 90 days in 2010 and extended the waiver to calendar year 2011. HUD solicited public comment on the waiver and public comment supported the waiver. Based on prior public comment, HUD therefore proposes to remove the permanent prohibition on granting FHA-insurance to properties resold within 90 days or less of the prior acquisition. 
Agency: Department of Housing and Urban Development(HUD)  Priority: Other Significant 
RIN Status: First time published in the Unified Agenda Agenda Stage of Rulemaking: Proposed Rule Stage 
Major: No  Unfunded Mandates: No 
CFR Citation: 24 CFR 203   
Legal Authority: 12 USC 1709, 1710, 1715b, 1715z-16, 1715v    42 USC 3535(d)   
Legal Deadline:  None
Timetable:
Action Date FR Cite
NPRM  02/00/2012    
Additional Information: Includes Retrospective Review under Executive Order 13563.
Regulatory Flexibility Analysis Required: No  Government Levels Affected: None 
Small Entities Affected: No  Federalism: No 
Included in the Regulatory Plan: No 
RIN Data Printed in the FR: No 
Agency Contact:
Camille E. Acevedo
Department of Housing and Urban Development, Office of General Counsel
Department of Housing and Urban Development
Office of Housing
Room 10276, 451 7th Street SW.,
Washington, DC 20410
Phone:202 402-5132
Email: camille.e.acevedo@hud.gov