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HUD/OH RIN: 2502-AJ67 Publication ID: Fall 2023 
Title: Revision of Time Restrictions on Property Re-sales (FR-6354) 

This rule proposes to revise HUD’s restrictions on re-sales at all time intervals for both forward and reverse mortgages to provide greater latitude in determining the appropriate tools and documentation requirements based on the individual transaction risk. HUD’s regulations currently include time restrictions on re-sales of properties eligible to be secured by FHA-insured mortgage financing. If the re-sale date of the property is 90 days or less following the date of acquisition by the seller, the property is not eligible for a mortgage insured by FHA. Prohibiting the use of FHA mortgage insurance for a re-sale within 90 days of acquisition adversely impacts the availability of affordable housing and does not align with other market participants approach to manage this risk with technology. In addition, HUD’s requirements for re-sales occurring between 90 and 180 days in all cases where re-sales exceed certain price change thresholds may result in unnecessary operational burden to industry participants. HUD has demonstrated the ability to successfully leverage new technology to manage property valuation and flipping risks through the implementation of a collateral risk assessment tools and targeted documentation requirements in its Home Equity Conversion Mortgage (HECM) program and seeks to update its requirements in recognition of such experience.

Agency: Department of Housing and Urban Development(HUD)  Priority: Other Significant 
RIN Status: Previously published in the Unified Agenda Agenda Stage of Rulemaking: Proposed Rule Stage 
Major: No  Unfunded Mandates: No 
CFR Citation: 24 CFR 203.37a and 206.52   
Legal Authority: 12 U.S.C. 1707    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. 1715z-20 and 1715z-21    15 U.S.C. 1639c    42 U.S.C. 3535(d)   
Legal Deadline:  None
Action Date FR Cite
NPRM  06/00/2024 
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:
Mary Jo Sullivan
Acting Director, Office of Single Family Program Development
Department of Housing and Urban Development
Office of Housing
451 7th Street SW,
Washington, DC 20410
Phone:202 402-2186