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HUD/OH RIN: 2502-AJ53 Publication ID: Fall 2024 
Title: Single Family Mortgage Insurance Updates to Claims Procedures, Curtailment of Interest and Disallowance of Certain Expenses Incurred Beyond Established Timeframes, and Claim Filing Deadlines (FR-6206) 
Abstract:

Over the past decade, the costs associated with servicing both performing and non-performing mortgages throughout the industry have increased significantly. This adversely impacts servicers as well as borrowers who have the costs passed onto them in the form of higher mortgage fees. This proposed rule would streamline the requirements related to curtailment of interest and other expenses incurred for missing certain servicing deadlines when filing a claim to HUD. These changes would reduce costs for forward mortgage servicers significantly. This rule also proposes to establish deadlines that define FHA’s liability for claim payments for insurance benefits. HUD has received extensive feedback from FHA approved lenders about the curtailment deadlines and calculations over the past decade, including those resulting from 2015 rulemaking efforts associated with this regulation. This change would improve HUD's ability to manage the Mutual Mortgage Insurance (MMI) Fund. 

 

 
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 and 206   
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. 1717z-21    ...   
Legal Deadline:  None
Timetable:
Action Date FR Cite
NPRM  05/00/2025 
Regulatory Flexibility Analysis Required: No  Government Levels Affected: Undetermined 
Federalism: No 
Included in the Regulatory Plan: No 
RIN Data Printed in the FR: No 
Agency Contact:
Elissa Saunders
Director, Office of Single Family Asset Management
Department of Housing and Urban Development
Office of Housing
451 7th Street SW,
Washington, DC 20410
Phone:202 708-1672