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Data / Federal rules / 2024-15024

Federal Housing Administration (FHA): Single Family Sale Program

The Housing and Urban Development Department published this proposed rule in the Federal Register on July 16, 2024. Comments closed on September 16, 2024.

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What the agency says

In a Single Family Sale (the "Program"), eligible single family mortgage loans insured by the Federal Housing Administration (FHA) are assigned to the Secretary of the Department of Housing and Urban Development (HUD) in exchange for claim payments, and mortgage notes are then sold, without FHA insurance, to qualified purchasers in a manner that seeks to maximize recoveries and strengthen HUD's Mutual Mortgage Insurance Fund (MMIF), and to achieve HUD's operational goals for the MMIF. The Program has operated as a demonstration since 2002. This proposed rule would transition the Program from a demonstration to a permanent Program by revising HUD's Single Family Mortgage Insurance, Home Equity Conversion Mortgages, and Disposition of HUD-Acquired and - Owned Single Family Property regulations to provide for the sale of HUD-held single family forward mortgages and Home Equity Conversion Mortgages (HECMs), through Competitive Sale of Single Family Loans and Direct Sale of Single Family Loans. This proposed rule would also remove existing regulations on Disposition of HUD-Acquired and -Owned Single Family Property regulations which provided for a retired program that handled the sale of HUD-held single family mortgage loans.

Key facts

Document number
2024-15024
Type
Proposed rule
Action
Proposed rule
Agency
Housing and Urban Development Department
Published
July 16, 2024
Comments due
September 16, 2024
Dates
Comment due date: September 16, 2024.
Docket
Docket No. FR-6051-P-02
Code of Federal Regulations
24 CFR 203; 24 CFR 206; 24 CFR 291
Topics
Aged; Community facilities; Condominiums; Hawaiian Natives; Home improvement; Homeless; Indians-lands; Lead poisoning; Loan programs-housing and community development; Low and moderate income housing; Mortgage insurance; Mortgages; Reporting and recordkeeping requirements; Solar energy; Surplus Government property
Pages
13

The document on federalregister.gov PDF

Other documents from the Housing and Urban Development Department

Everything from the Housing and Urban Development Department · Rules on aged · Rules on community facilities · Rules on condominiums · Published in July 2024

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