Director, Office of Single Family Asset Management, Office of Housing

2502-AJ23 201610 The Regulatory Plan and the Unified Agenda of Federal Regulatory and Deregulatory Actions 2502 Office of Housing OH 2500 Department of Housing and Urban Development HUD Federal Housing Administration (FHA): Single Family Mortgage Insurance Curtailment of Interest and Disallowance of Operating Expenses Incurred Beyond Certain Established Timeframes (FR-5742)

This final rule would revise HUD policy concerning curtailment of interest to ease the burden on mortgagees. Currently, if a mortgagee fails to meet applicable requirements, even by one day, the mortgagee is required to curtail interest for the duration of the life of the mortgage and FHA insurance contract. This rule would require the mortgagees to curtail interest only for the length of the mortgagee’s delay, and not for the entire duration of the life of the mortgage and FHA insurance contract. This rule would also disallow certain expenses incurred by a mortgagee prior to the filing of a claim for insurance benefits where such expenses result from a mortgagee’s failure to timely initiate foreclosure or timely take such other action that is a prerequisite to submission of a claim for insurance.

]]> Substantive, Nonsignificant Previously Published in The Unified Agenda Final Rule Stage No No 24 CFR 203 12 U.S.C. 1709 and 1710 12 U.S.C. 1715b 12 U.S.C. 1715z-16 12 U.S.C. 1715u 12 U.S.C. 1717z-21 42 U.S.C. 3535(d) No NPRM 07/06/2015 80 FR 38410 NPRM Comment Period End 09/04/2015 Partial Withdrawal 10/16/2015 80 FR 62510 Final Action 04/00/2017 No No None No No No No Ivery Himes Director, Office of Single Family Asset Management, Office of Housing 2502 Office of Housing OH 202 708-1672 451 Seventh Street SW, Washington DC 20410