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HUD/OH RIN: 2502-AJ17 Publication ID: Fall 2014 
Title: Federal Housing Administration (FHA): Handling Prepayments: Elimination Post-Settlement Interest Charges (FR-5360) 
Abstract:

HUD's current regulations for the Federal Housing Administration (FHA) single family mortgage insurance programs allow mortgagees to charge borrowers interest due for the entire month should prepayment occur on a date other than the installment due date, subject to certain notice requirements to the mortgagor (see 24 CFR 203.558). This rule eliminates the option provided to FHA-approved mortgagees to charge prepaying mortgagors post-settlement interest payments in the FHA's single family mortgage insurance program.

 
Agency: Department of Housing and Urban Development(HUD)  Priority: Other Significant 
RIN Status: Previously published in the Unified Agenda Agenda Stage of Rulemaking: Completed Actions 
Major: No  Unfunded Mandates: No 
CFR Citation: 24 CFR 203   
Legal Authority: 12 USC 1701z-11(e), 1709(c)(1), 1713 and 1715(b)   
Legal Deadline:  None
Timetable:
Action Date FR Cite
NPRM  03/13/2014  79 FR 14200   
Deadline for Comment  05/12/2014 
Final Rule  08/26/2014  79 FR 50835   
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:
Ivery Himes
Director, Office of Single Family Asset Management, Office of Housing
Department of Housing and Urban Development
Office of Housing
451 Seventh Street SW,
Washington, DC 20410
Phone:202 708-1672