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HUD/OH RIN: 2502-AJ40 Publication ID: Fall 2017 
Title: Streamlining FHA Single Family Mortgage Insurance: 10-Year Protection Plan Requirements for High Loan-to-Value Ratio Mortgages Insurance (FR-6029) 
Abstract:

This rule streamlines the home warranty requirements for FHA single family mortgage insurance. This rule removes the regulations requiring 10-year protection plans required in order to qualify for high loan-to-value (LTV) FHA-insured mortgages as a condition of closing for newly constructed single-family homes. The Housing and Economic Recovery Act of 2008 removed the statutory requirement for a warranty plan and other special requirements for high LTV. High LTV mortgages would now be governed solely by the inspection requirements in this rule because the inspection requirements would apply to all new construction, regardless of LTV ratio.

 

 
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 
EO 13771 Designation: Deregulatory 
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 and 1715u    42 U.S.C. 3535(d)   
Legal Deadline:  None
Timetable:
Action Date FR Cite
NPRM  02/06/2013  78 FR 8448   
NPRM Comment Period End  04/08/2013 
Final Action  02/00/2018 
Additional Information: Includes Retrospective Review under Executive Order 13563.
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 
Related RINs: Split from 2502-AJ03 
Agency Contact:
Elissa Saunders
Director, Office of Single Family Program Development
Department of Housing and Urban Development
Office of Housing
451 7th Street SW,
Washington, DC 20410
Phone:202 708-1672