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HUD/OH RIN: 2502-AG95 Publication ID: Fall 2000 
Title: Strengthening the Title I Property Improvement and Manufactured Home Loan Insurance Programs and Title I Lender/Title II Mortgagee Approval Requirements (FR-4246) 
Abstract: This rule will amend HUD's regulations for the Title I Property Improvement and Manufactured Housing Loan Insurance programs. The changes are designed to enhance program controls and strengthen the financial viability of the programs. Among other amendments, this rule will require that lenders disburse the proceeds of a direct property improvement loan in excess of $7,500 using a draw system, similar to that used in construction lending; expand and strengthen the on-site inspection requirements applicable to dealer and direct property improvement loans; and require that a lien securing a property improvement loan must occupy no less than a second lien position. The rule will also increase the insurance charge for Title I property improvement and manufactured housing loan insurance. Additionally, the rule will also conform the liquidity requirements applicable to the Title I program to those currently applicable to the Title II Single Family Mortgage Insurance program. Finally, the rule will increase the net worth requirements applicable to both the Title I and Title II programs. 
Agency: Department of Housing and Urban Development(HUD)  Priority: Other Significant 
RIN Status: Previously published in the Unified Agenda Agenda Stage of Rulemaking: Final Rule Stage 
Major: No  Unfunded Mandates: No 
CFR Citation: 24 CFR 201    24 CFR 202   
Legal Authority: 12 USC 1703    12 USC 1709    12 USC 1715b    42 USC 3535(d)   
Legal Deadline:  None
Timetable:
Action Date FR Cite
NPRM  03/30/2000  65 FR 17120   
NPRM Comment Period End  05/30/2000    
Final Action  01/00/2001    
Regulatory Flexibility Analysis Required: No  Government Levels Affected: None 
Federalism: No 
Included in the Regulatory Plan: No 
Agency Contact:
Margaret Burns
Director, Office of Single Family Program Development
Department of Housing and Urban Development
Office of Housing
451 7th Street SW.,
Washington, DC 20410-0001
Phone:202 402-2121