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 2017_register executive 2018-02-01 article Part VIII Rules and Regulations D09002ee1c7f2e2ec D09002ee1c7f2e4b9 United States Department of Housing and Urban Development originator org United States Government Agency or Subagency This final rule codifies several significant changes to FHA's Home Equity Conversion Mortgage program that were previously issued under the authority granted to HUD in the Housing and Economic Recovery Act of 2008 and the Reverse Mortgage Stabilization Act of 2013, and makes additional regulatory changes. The HECM program is FHA's reverse mortgage program that enables seniors who have equity in their homes to withdraw a portion of the accumulated equity. The intent of the Home Equity Conversion Mortgage program is to ease the financial burden on elderly homeowners facing increased health, housing, and subsistence costs at a time of reduced income. FHA's mission is to serve underserved markets, which must be balanced with HUD's inherent, as well as, statutory obligation under the National Housing Act to protect the FHA insurance funds. This rulemaking strengthens the FHA Home Equity Conversion Mortgage program and codifies changes that reduce risk to the Mutual Mortgage Insurance Fund and increase the sustainability of this important program for seniors. This final rule follows publication of a May 19, 2016, proposed rule and takes into consideration the public comments received on the proposed rule. 82 FR 7094 https://www.govinfo.gov/app/details/FR-2017-01-19/2017-01044 2017-01044 fr19ja17-30 RIN 2502-AI79 4210-67-P Docket No. FR-5353-F-03 https://www.govinfo.gov/app/details/FR-2017-01-19/2017-01044 https://www.govinfo.gov/content/pkg/FR-2017-01-19/html/2017-01044.htm https://www.govinfo.gov/content/pkg/FR-2017-01-19/pdf/2017-01044.pdf Aged Condominiums Loan Programs Housing and Community Development Reporting and Recordkeeping Requirements Administrative Practice and Procedure Grant Programs-Housing and Community Development Loan Programs-Housing and Community Development Mortgage Insurance Penalties 53 p. 7094 7146 82 FR 7094 Title 24 Part 206 24 CFR Part 206 Title 24 Part 30 24 CFR Part 30 RIN 2502-AI79 Federal Housing Administration: Strengthening the Home Equity Conversion Mortgage Program; Federal Register Vol. 82, Issue RULE 2017-01044 VIII DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT 2017-09-19 Docket No. FR-5353-F-03 4210-67-P 2017-01044 Final rule.

This final rule codifies several significant changes to FHA's Home Equity Conversion Mortgage program that were previously issued under the authority granted to HUD in the Housing and Economic Recovery Act of 2008 and the Reverse Mortgage Stabilization Act of 2013, and makes additional regulatory changes. The HECM program is FHA's reverse mortgage program that enables seniors who have equity in their homes to withdraw a portion of the accumulated equity. The intent of the Home Equity Conversion Mortgage program is to ease the financial burden on elderly homeowners facing increased health, housing, and subsistence costs at a time of reduced income. FHA's mission is to serve underserved markets, which must be balanced with HUD's inherent, as well as, statutory obligation under the National Housing Act to protect the FHA insurance funds. This rulemaking strengthens the FHA Home Equity Conversion Mortgage program and codifies changes that reduce risk to the Mutual Mortgage Insurance Fund and increase the sustainability of this important program for seniors. This final rule follows publication of a May 19, 2016, proposed rule and takes into consideration the public comments received on the proposed rule.

Effective Date: September 19, 2017. Karin Hill, Senior Policy Advisor, Office of Single Family Housing, Department of Housing and Urban Development, 451 7th Street SW., Room 9282, Washington, DC 20410-8000; telephone number 202-402-3084 (this is not a toll-free number). Persons with hearing or speech challenges may access this number through TTY by calling the toll-free Federal Relay Service at 800-877-8339. Aged Condominiums Loan Programs Housing and Community Development Reporting and Recordkeeping Requirements Administrative Practice and Procedure Grant Programs-Housing and Community Development Loan Programs-Housing and Community Development Mortgage Insurance Penalties Federal Housing Administration: Strengthening Home Equity Conversion Mortgage Program , https://www.regulations.gov/docket?D=HUD-2016-0052 Vol. 82, no. 12 Office of the Federal Register, National Archives and Records Administration 2017-01-19 continuing daily deposited born digital 1466 p. Table of Contents: AE 2.7: GS 4.107: AE 2.106: KF70.A2 https://www.govinfo.gov/app/details/FR-2017-01-19 P0b002ee1982b90a0 0097-6326 0042-1219 0364-1406 769-004-00000-9 000582072 f:fr19ja17 https://www.govinfo.gov/app/details/FR-2017-01-19 https://www.govinfo.gov/content/pkg/FR-2017-01-19/pdf/FR-2017-01-19.pdf https://www.govinfo.gov/content/pkg/FR-2017-01-19/xml/FR-2017-01-19.xml fdlp 6167 7630 DGPO 2018-02-01 2024-06-01 FR-2017-01-19 machine generated eng FR FR-2017-01-19 82 12