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HUD/OH RIN: 2502-AJ23 Publication ID: Fall 2016 
Title: Federal Housing Administration (FHA): Single Family Mortgage Insurance Curtailment of Interest and Disallowance of Operating Expenses Incurred Beyond Certain Established Timeframes (FR-5742) 
Abstract:

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.

 
Agency: Department of Housing and Urban Development(HUD)  Priority: Substantive, Nonsignificant 
RIN Status: Previously published in the Unified Agenda Agenda Stage of Rulemaking: Final Rule Stage 
Major: No  Unfunded Mandates: No 
EO 13771 Designation: uncollected 
CFR Citation: 24 CFR 203   
Legal Authority: 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)   
Legal Deadline:  None
Timetable:
Action Date FR Cite
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 
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