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HUD/OH

RIN: 2502-AJ23

Publication ID: Spring 2017

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: Long-Term Actions
Major: No	Unfunded Mandates: No
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	10/00/2018

Regulatory Flexibility Analysis Required: No	Government Levels Affected: None
Small Entities Affected: No	Federalism: No
Included in the Regulatory Plan: No
Public Comment URL: www.regulations.gov/searchResults?rpp=25&po=0&s=FR-5742&fp=true&ns=true
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