United States Government Publishing Office publisher pbl distributor dst United States National Archives and Records Administration Office of the Federal Register author aut Government Organization text government publication eng FR Regulatory Information 1995_register executive 2010-09-25 article Part III Rules and Regulations D09002ee1be055cc8 D09002ee1be055d9e United States Rule originator org United States Government Agency or Subagency United States Department of Housing and Urban Development originator org United States Government Agency or Subagency United States Commissioner originator org United States Government Agency or Subagency This final rule permits the mortgagee and the mortgagor to enter into a special forbearance agreement without obtaining the prior approval of HUD requiring the payment of the arrearage before maturity of the mortgage. It also eliminates the present gap in reimbursement of debenture interest that occurs if the mortgagor files a petition in bankruptcy after entering into a special forbearance agreement. The purpose of this change is to encourage mortgagees to make greater use of special forbearance procedures when the mortgagor is temporarily unable to make full regular mortgage payments. When special forbearance agreements are utilized, but subsequently fail, mortgagees are entitled to collect all unpaid interest on their claim, from the oldest unpaid installment to foreclosure initiation. Generally this provides for inclusion of at least two additional months of interest on the insurance claim reimbursement. 60 FR 57676 https://www.govinfo.gov/app/details/FR-1995-11-16/95-28306 95-28306 fr16no95-14 RIN 2502-AG20 4210-27-P Docket No. FR-3626-F-02 https://www.govinfo.gov/app/details/FR-1995-11-16/95-28306 https://www.govinfo.gov/content/pkg/FR-1995-11-16/html/95-28306.htm https://www.govinfo.gov/content/pkg/FR-1995-11-16/pdf/95-28306.pdf 4 p. 57676 57679 60 FR 57676 Title 24 Part 203 24 CFR Part 203 RIN 2502-AG20 Single Family Mortgage InsuranceSpecial Forbearance Procedures; Federal Register Vol. 60, Issue RULE 95-28306 III Rule DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT Commissioner 1995-12-18 Docket No. FR-3626-F-02 4210-27-P 95-28306 Final rule.

This final rule permits the mortgagee and the mortgagor to enter into a special forbearance agreement without obtaining the prior approval of HUD requiring the payment of the arrearage before maturity of the mortgage. It also eliminates the present gap in reimbursement of debenture interest that occurs if the mortgagor files a petition in bankruptcy after entering into a special forbearance agreement. The purpose of this change is to encourage mortgagees to make greater use of special forbearance procedures when the mortgagor is temporarily unable to make full regular mortgage payments. When special forbearance agreements are utilized, but subsequently fail, mortgagees are entitled to collect all unpaid interest on their claim, from the oldest unpaid installment to foreclosure initiation. Generally this provides for inclusion of at least two additional months of interest on the insurance claim reimbursement.

This final rule is effective on December 18, 1995. Joseph McCloskey, Director, Single Family Servicing Division, Room 9178, Department of Housing and Urban Development, 451 Seventh Street, SW., Washington, DC 20410, (202) 708- 1672, or, for hearing and speech impaired, (202) 708-4594. (These are not toll-free numbers). Vol. 60, no. 221 Office of the Federal Register, National Archives and Records Administration 1995-11-16 continuing daily deposited born digital 157 p. Table of Contents: AE 2.7: GS 4.107: AE 2.106: KF70.A2 https://www.govinfo.gov/app/details/FR-1995-11-16 P0b002ee180a86fd5 0097-6326 0042-1219 0364-1406 769-004-00000-9 000582072 f:fr16no95 https://www.govinfo.gov/app/details/FR-1995-11-16 https://www.govinfo.gov/content/pkg/FR-1995-11-16/pdf/FR-1995-11-16.pdf fdlp 57533 57679 DGPO 2010-09-25 2023-05-07 FR-1995-11-16 machine generated eng FR FR-1995-11-16 60 221