Source: https://www.law.cornell.edu/cfr/text/24/206.51
Timestamp: 2017-08-20 10:12:44
Document Index: 794890857

Matched Legal Cases: ['art 206', '§ 234', '§ 1715', '§ 1715', '§ 1715', '§ 1715', '§ 1715', '§ 1715', '§ 1715', '§ 1715', '§ 1715', '§ 1715', '§ 1715', '§ 1715', '§ 1715', '§ 1715', '§ 1715', '§ 1715', '§ 1715', '§ 1715', '§ 1715', '§ 1715', '§ 1715', '§ 1715', '§ 1715', '§ 1715', '§ 1715', '§ 1715', '§ 1715', '§ 1715', '§ 1715', '§ 1717', 'art 206', 'arts 30', 'arts 25']

24 CFR 206.51 - Eligibility of mortgages involving a dwelling unit in a condominium. | US Law | LII / Legal Information Institute
CFR › Title 24 › Subtitle B › Chapter II › Subchapter B › Part 206 › Subpart B › Section 206.51
24 CFR 206.51 - Eligibility of mortgages involving a dwelling unit in a condominium.
If the mortgage involves a dwelling unit in a condominium, the project in which the unit is located shall have been committed to a plan of condominium ownership by deed, or other recorded instrument, that is acceptable to the Secretary, except as provided in § 234.26(i) of this chapter.
[ 61 FR 26984, May 29, 1996]
§ 1715z-1a
§ 1715z-1c
§ 1715z-2
§ 1715z-3
§ 1715z-4
§ 1715z-4a
§ 1715z-5
§ 1715z-6
§ 1715z-7
§ 1715z-8
§ 1715z-10
§ 1715z-11
§ 1715z-12
§ 1715z-13
§ 1715z-13b
§ 1715z-14
§ 1715z-15
§ 1715z-16
§ 1715z-17
§ 1715z-18
§ 1715z-19
§ 1715z-20
§ 1715z-21
§ 1715b-20
§ 1715z-22
§ 1715z-22a
§ 1715z-23
§ 1715z-24
§ 1715z-25
§ 1717a - Prohibition against sale of obligations by Federal departments and agencies after June 30, 1966, without compliance with requirements of section 1717(c) of...title or without approval by Secretary of the Treasury; exemption
The following are ALL rules, proposed rules, and notices (chronologically) published in the Federal Register relating to 24 CFR Part 206 after this date.
82 FR 7094 - Federal Housing Administration: Strengthening the Home Equity Conversion Mortgage Program
FR Doc. 2017-01044
RIN 2502-AI79
Docket No. FR-5353-F-03
24 CFR Parts 30 and 206
This final rule codifies several significant changes to FHA&apos;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&apos;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&apos;s mission is to serve underserved markets, which must be balanced with HUD&apos;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.
81 FR 53095 - Federal Housing Administration (FHA): Strengthening the Home Equity Conversion Mortgage Program
FR Doc. 2016-19255
Docket No. FR-5353-N-02
Comment Due Date: September 12, 2016.
On May 19, 2016, HUD published in the Federal Register, a proposed rule that would codify several significant changes to FHA&apos;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 to make additional regulatory changes. The Home Equity Conversion Mortgage program is FHA&apos;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. This document opens the public comment period solely for the provision addressed in this document to address a suggested change offered during the public comment period for the proposed rule regarding the lender&apos;s option to file a claim when the loan balance reaches 98 percent of the maximum claim amount.
81 FR 31770 - Federal Housing Administration (FHA): Strengthening the Home Equity Conversion Mortgage Program
FR Doc. 2016-11631
Docket No. FR-5353-P-01
This rule proposes to codify several significant changes to FHA&apos;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 to make additional regulatory changes. The Home Equity Conversion Mortgage program is FHA&apos;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&apos;s mission is to serve underserved markets, which must be balanced with HUD&apos;s inherent, as well as, statutory obligation under the National Housing Act to protect the FHA insurance funds. The impacts of the recent financial crisis, including a decline in property values, shrinking retirement accounts, and changing borrower demographics placed seniors with Home Equity Conversion Mortgages at an increased risk of losing their homes due to their inability to make tax and insurance payments. During this time, the FHA HECM program was the only reverse mortgage program available for seniors. The above referenced economic and market factors, combined with certain program features, resulted in increased risk to the Mutual Mortgage Insurance Fund (MMIF). This rulemaking strengthens the FHA HECM program and codifies changes made under the Reverse Mortgage Stabilization Act of 2013 that reduce risk to the MMIF and increase the sustainability of this important program for seniors.
FR Doc. 2012-20924
RIN 2502-AJ13
Docket No. FR-5622-F-01
Final rule; clarification and correction.
Effective Date: September 24, 2012.
24 CFR Parts 25, 30, 201, 202, 203, and 206
As part of HUD&apos;s efforts to strengthen the risk management practices of the Federal Housing Administration (FHA), HUD published a final rule on April 20, 2010, revising its regulations pertaining to the FHA-approval of mortgage lenders. The April 20, 2010, final rule increased the net worth requirement for FHA-approved lenders and mortgagees, eliminated HUD&apos;s approval of loan correspondents, and amended the general approval standards for lenders and mortgagees. This final rule makes several nonsubstantive clarifications and corrections to the provisions of the April 20, 2010, final rule. The changes will improve the clarity of HUD&apos;s regulatory requirements and, thereby, facilitate program participant compliance and improve HUD&apos;s ability to monitor and enforce its risk management regulations.