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2010-10-08
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Federal Housing Administration (FHA) Single Family Lender Insurance Process: Eligibility, Indemnification, and Termination
Proposed Rules
D09002ee1bdd159c6
D09002ee1bdd15a43
United States
Department of Housing and Urban Development
originator
org
United States Government Agency or Subagency
Through this proposed rule, HUD continues its efforts to improve and expand the risk management activities of the Federal Housing Administration (FHA). The proposed regulatory changes will update and enhance the Lender Insurance process through which the majority of FHA-insured mortgages are endorsed for insurance. Most significantly, the proposed rule would provide additional guidance on HUD's regulations implementing the statutory requirements regarding mortgagee indemnification to HUD of insurance claims in the case of fraud, misrepresentation, or noncompliance with applicable loan origination requirements. The proposed rule also provides that mortgagees must continually maintain the acceptable claim and default rate required for eligibility to initially be delegated Lender Insurance authority, in order to retain such authority. In addition, this proposed rule also provides that HUD will review Lender Insurance mortgagee performance on a continual basis. HUD also proposes to revise the methodology for determining acceptable claim and default rates, to more accurately reflect mortgagee performance, and to streamline the approval process for Lender Insurance mortgagees that have undergone a corporate restructuring. The Department has also taken the opportunity afforded by this proposed rule to make two technical corrections to the regulations and to solicit public comment on whether FHA mortgagees should be required to submit mortgage loan case binders to HUD electronically.
75 FR 62335
https://www.govinfo.gov/app/details/FR-2010-10-08/2010-25441
2010-25441
FR08OC10-9
RIN 2502 AI58
4210-67-P
Docket No. FR-5156-P-01
https://www.govinfo.gov/app/details/FR-2010-10-08/2010-25441
https://www.govinfo.gov/content/pkg/FR-2010-10-08/html/2010-25441.htm
https://www.govinfo.gov/content/pkg/FR-2010-10-08/pdf/2010-25441.pdf
Hawaiian Natives
Home Improvement
Indians-Lands
Loan Programs-Housing and Community Development
Mortgage Insurance
Reporting and Recordkeeping Requirements
Solar Energy
8 p.
62335
62342
75 FR 62335
Code of Federal Regulations
Title 24 Part 203
24 CFR Part 203
Regulation Identification Number 2502 AI58
RIN 2502 AI58
Federal Housing Administration (FHA) Single Family Lender Insurance Process: Eligibility, Indemnification, and Termination; Federal Register Vol. 75, Issue
PRORULE
2010-25441
DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT
2010-12-07
Docket No. FR-5156-P-01
4210-67-P
2010-25441
Proposed rule.
Through this proposed rule, HUD continues its efforts to improve and expand the risk management activities of the Federal Housing Administration (FHA). The proposed regulatory changes will update and enhance the Lender Insurance process through which the majority of FHA-insured mortgages are endorsed for insurance. Most significantly, the proposed rule would provide additional guidance on HUD's regulations implementing the statutory requirements regarding mortgagee indemnification to HUD of insurance claims in the case of fraud, misrepresentation, or noncompliance with applicable loan origination requirements. The proposed rule also provides that mortgagees must continually maintain the acceptable claim and default rate required for eligibility to initially be delegated Lender Insurance authority, in order to retain such authority. In addition, this proposed rule also provides that HUD will review Lender Insurance mortgagee performance on a continual basis. HUD also proposes to revise the methodology for determining acceptable claim and default rates, to more accurately reflect mortgagee performance, and to streamline the approval process for Lender Insurance mortgagees that have undergone a corporate restructuring. The Department has also taken the opportunity afforded by this proposed rule to make two technical corrections to the regulations and to solicit public comment on whether FHA mortgagees should be required to submit mortgage loan case binders to HUD electronically.
Comment Due Date: December 7, 2010.
Mark Ross, Acting Director, Office of Single Family Program Development, Office of Housing, Department of Housing and Urban Development, 451 Seventh Street, SW., Room 9278, Washington, DC 20410-8000; telephone number 202-708-2121 (this is not a toll-free number). Persons with hearing or speech impairments may access this number via TTY by calling the Federal Information Relay Service at 1-800-877-8339.
Hawaiian Natives
Home Improvement
Indians-Lands
Loan Programs-Housing and Community Development
Mortgage Insurance
Reporting and Recordkeeping Requirements
Solar Energy
Federal Housing Administration Single Family Lender Insurance Process:
Eligibility, Indemnification, and Termination
,
http://portal.hud.gov/portal/page/portal/HUD/press/press_releases_media_advisories/2010/HUDNo.10-016
http://www.regulations.gov
Federal Register
Vol. 75, no. 195
Office of the Federal Register, National Archives and Records Administration
2010-10-08
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162 p.
Table of Contents:
AE 2.7:
GS 4.107:
AE 2.106:
KF70.A2
https://www.govinfo.gov/app/details/FR-2010-10-08
P0b002ee180b018da
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0042-1219
0364-1406
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f:FR08OC10
https://www.govinfo.gov/app/details/FR-2010-10-08
https://www.govinfo.gov/content/pkg/FR-2010-10-08/pdf/FR-2010-10-08.pdf
https://www.govinfo.gov/content/pkg/FR-2010-10-08/xml/FR-2010-10-08.xml
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2010-10-08
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FR-2010-10-08
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FR-2010-10-08
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