Department of Housing and Urban Development January 15, 2009 – Federal Register Recent Federal Regulation Documents
Results 1 - 3 of 3
Real Estate Settlement Procedures Act (RESPA): Rule To Simplify and Improve the Process of Obtaining Mortgages and Reduce Consumer Settlement Costs; Deferred Applicability Date for the Revised Definition of “Required Use”
This final rule delays the effective date of the definition of ``required use'' as revised by HUD's November 17, 2008, final rule amending its RESPA regulations. The November 17, 2008, final rule provides that the revised definition is applicable commencing January 16, 2009, the effective date of the final rule. As a result of recently initiated litigation, HUD has determined to delay the effective date of the revised definition of ``Required use'' until April 16, 2009.
Civil Money Penalties: Certain Prohibited Conduct
This final rule revises HUD's regulations that govern the imposition of civil money penalties. Specifically, this rule revises the definitions of ``material or materially'' and adds a definition of ``ability to pay,'' which is one factor used in determining the appropriateness of the amount of any civil money penalty. Additionally, this rule requires respondents, in their responses to the prepenalty notice, to specifically address the factors used in determining the appropriateness and amount of civil money penalty. This rule also allows government counsel to file complaints on behalf of the Mortgagee Review Board and departmental officials. Finally, this rule makes other minor clarifying changes. This final rule follows publication of an October 17, 2008, proposed rule, but makes no changes at this final rule stage.
Flood Insurance
The Federal Housing Finance Agency (FHFA) is issuing a final regulation that codifies the authority and responsibility of FHFA to oversee and enforce the statutory requirements affecting the operations of the Federal National Mortgage Association and the Federal Home Loan Mortgage Corporation under the Flood Disaster Protection Act of 1973, as amended, and to effect congressionally mandated adjustments to the civil money penalties applicable to violations of that law.
This site is protected by reCAPTCHA and the Google
Privacy Policy and
Terms of Service apply.
