Director, Office of Single Family Asset Management

2502-AJ41 202304 Unified Agenda of Federal Regulatory and Deregulatory Actions 2502 Office of Housing OH 2500 Department of Housing and Urban Development HUD Streamlining and Revising HUD's Free Assumability and Conveyance Restrictions for Federal Housing Administration (FHA) Mortgages (FR-6052)

HUD’s regulations currently include complex prohibitions and exceptions to restrictions on conveyances and assumability of FHA mortgages. The Housing Opportunity Through Modernization Act of 2016, (Pub. L. 114-201) (HOTMA), requires that HUD’s regulations on private transfer fees, previously prohibited as restrictions on conveyances, conform with the policy imposed by the Federal Housing Finance Agency (FHFA) for loans purchased by Federal National Mortgage Association (Fannie Mae) and Federal Home Loan Mortgage Corporation (Freddie Mac). Additionally, such prohibitions may be burdensome to implement for programs designed to promote affordable homeownership. This rule proposes to revise HUD’s requirements on conveyances and assumability to conform with the FHFA requirements for private transfer fees and further streamline the process to allow for free assumability in a less costly and burdensome fashion.

]]> Other Significant Previously Published in The Unified Agenda Proposed 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 and 1735d 15 U.S.C. 1639c 42 U.S.C. 3535(d) No NPRM 02/00/2024 No No None No No No No Elissa Saunders Director, Office of Single Family Asset Management 2502 Office of Housing OH 202 402-2378 100 South Charles Street , 11th Floor, Baltimore MD 21201