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HUD/OH RIN: 2502-AJ43 Publication ID: Spring 2022 
Title: Acceptance of Private Flood Insurance for FHA-Insured Mortgages (FR-6084) 

This rule amends Federal Housing Administration (FHA) regulations to allow mortgagors the option to purchase private flood insurance on FHA-insured mortgages for properties located in Special Flood Hazard Areas in satisfaction of the mandatory purchase requirement under the National Flood Insurance Act of 1968 (42 U.S.C. 4001 et seq.).  Acceptance of private flood insurance would benefit borrowers who want FHA-insured mortgages by providing them consumer choice, including the opportunity to obtain private flood insurance policies that may be more affordable than NFIP policies. Current FHA regulations do not allow private flood insurance as an option and require mortgagors to obtain and maintain NFIP flood insurance for the duration of the mortgage, to the extent NFIP is available. Overall, this rule would reduce the regulatory restrictions on flood insurance for FHA-insured loans. 

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 203    24 CFR 206   
Legal Authority: 12 U.S.C. 1702 to 1715z-21    42 U.S.C. 3535(d)   
Legal Deadline:  None
Action Date FR Cite
NPRM  11/23/2020  85 FR 74630   
NPRM Comment Period End  01/22/2021 
Final Action  09/00/2022 
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:
Kevin Stevens
Acting Director, Office of Single Family Program Development
Department of Housing and Urban Development
Office of Housing
451 Seventh Street SW,
Washington, DC 20410
Phone:202 708-4317