Federal Housing Administration (FHA): Single Family Mortgage Insurance Maximum Time Period for Filing Insurance Claims, Curtailment of Interest and Disallowance of Operating Expenses Incurred Beyond Certain Established Timeframes; Partial Withdrawal

SUMMARY

This document withdraws part of a proposed rule, published in the Federal Register on July 6, 2015, that proposed to establish a maximum time period within which an FHA-approved mortgagee must file a claim with FHA for insurance benefits, and to revise HUD's policies concerning the curtailment of interest and the disallowance of certain expenses incurred by a mortgagee as a result of the mortgagee's failure to timely initiate foreclosure or timely take such other action that is a prerequisite to submission of a claim for insurance. This withdrawal covers only the portion of the proposed rule that would have established the maximum time period within which an FHA-approved mortgagee must file a claim with FHA for insurance benefits.

 
CONTENT

Federal Register, Volume 80 Issue 200 (Friday, October 16, 2015)

Federal Register Volume 80, Number 200 (Friday, October 16, 2015)

Proposed Rules

Pages 62510-62511

From the Federal Register Online via the Government Publishing Office www.gpo.gov

FR Doc No: 2015-26379

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DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT

24 CFR Part 203

Docket No. FR-5742-N-02

RIN 2502-AJ23

Federal Housing Administration (FHA): Single Family Mortgage Insurance Maximum Time Period for Filing Insurance Claims, Curtailment of Interest and Disallowance of Operating Expenses Incurred Beyond Certain Established Timeframes; Partial Withdrawal

AGENCY: Office of the Assistant Secretary for Housing--Federal Housing Commissioner, HUD.

ACTION: Partial withdrawal of proposed rule.

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SUMMARY: This document withdraws part of a proposed rule, published in the Federal Register on July 6, 2015, that proposed to establish a maximum time period within which an FHA-approved mortgagee must file a claim with FHA for insurance benefits, and to revise HUD's policies concerning the curtailment of interest and the disallowance of certain expenses incurred by a mortgagee as a result of the mortgagee's failure to timely initiate foreclosure or timely take such other action that is a prerequisite to submission of a claim for insurance. This withdrawal covers only the portion of the proposed rule that would have established the maximum time period within which an FHA-approved mortgagee must file a claim with FHA for insurance benefits.

DATES: As of October 16, 2015, HUD withdraws the proposed additions of Sec. Sec. 203.317a and 203.372, and proposed revision to Sec. 203.318, published Monday, July 6, 2015 (80 FR 38410).

FOR FURTHER INFORMATION CONTACT: Ivery Himes, Director, Office of Single

Page 62511

Family Asset Management, Office of Housing, Department of Housing and Urban Development, 451 7th Street SW., Room 9172, Washington, DC 20410; telephone number 202-708-1672 (this is not a toll-free number). Persons with hearing or speech impairments may access this number by calling the Federal Relay Service at 800-877-8339 (this is a toll-free number).

SUPPLEMENTARY INFORMATION:

  1. Background

On July 6, 2015, HUD published in the Federal Register a proposed rule that would have added Sec. 203.372, establishing a maximum time period for filing a claim for insurance benefits, and Sec. 203.317a, providing that the contract of insurance would be terminated if a mortgagee failed to file a claim within the maximum time period specified in Sec. 203.372, to 24 CFR part 203. The proposed rule would have also revised Sec. 203.318 to refer to termination of the insurance contract under new Sec. 203.317a. Additionally, the proposed rule would amend Sec. 203.402, and revise the title of Sec. 203.474, related to proposals concerning the curtailment of interest and the disallowance of certain expenses incurred by a mortgagee as a result of the mortgagee's failure to timely initiate foreclosure or timely take such other action that is a prerequisite to submission of a claim for insurance.

In response to public comments expressing concern over the implementation of the proposed provisions regarding the maximum time period within which an FHA-approved mortgagee must file a claim with FHA for insurance benefits, HUD is withdrawing the proposed additions of Sec. Sec. 203.317a and 203.372, and proposed revision to Sec. 203.318. HUD will publish in the Federal Register any revised maximum time period for claim filing provisions in a proposed rule and solicit public comment on it.

List of Subjects in 24 CFR Part 203

Hawaiian Natives, Home improvement, Indians-lands, Loan programs-

housing and community development, Mortgage insurance, Reporting and recordkeeping requirements, Solar energy.

Partial Withdrawal of Proposed Rule. For the reasons stated in the preamble and under the authority of 42 U.S.C. 3535(d), HUD withdraws the proposed additions of Sec. Sec. 203.317a and 203.372, and proposed revision to Sec. 203.318, in 24 CFR part 203.

Dated: October 7, 2015.

Edward L. Golding,

Principal Deputy Assistant Secretary for Housing.

FR Doc. 2015-26379 Filed 10-15-15; 8:45 am

BILLING CODE 4210-67-P