Department of Housing and Urban Development November 24, 2010 – Federal Register Recent Federal Regulation Documents

Real Estate Settlement Procedures Act (RESPA): Solicitation of Information on Changes in Warehouse Lending and Other Loan Funding Mechanisms
Document Number: 2010-29663
Type: Notice
Date: 2010-11-24
Agency: Department of Housing and Urban Development
HUD is considering issuing guidance under RESPA to address possible changes in warehouse lending and other financing mechanisms used to fund federally related mortgage loans that have occurred since HUD issued regulations specifically related to this area in 1992 and 1994. In order to assist HUD in determining whether such guidance is needed and to formulate such guidance, HUD is seeking information on how funding mechanisms have evolved in recent years, and especially on how warehouse lending currently operates within residential real estate mortgage transactions. HUD welcomes input from warehouse lenders, retail lenders, mortgage bankers, wholesale lenders, correspondent lenders, mortgage brokers, and others in the mortgage lending industry, as well as from federal, state, and local consumer protection and enforcement agencies; consumer groups; and other members of the public. Based on information received in response to this solicitation, HUD will decide what, if any, additional guidance is needed on the scope of RESPA as applied to current mortgage funding practices.
Policies and Procedures Pertaining to Changes in Listing Brokers Participating in the Federal Housing Administration (FHA) Management and Marketing III Program
Document Number: 2010-29654
Type: Notice
Date: 2010-11-24
Agency: Department of Housing and Urban Development
Today's Federal Register notice describes how duly licensed real estate brokers may participate as Listing or Selling brokers under FHA's Management and Marketing III (M&M III) program. All brokers may participate as Selling brokers. Brokers that wish to list HUD's Real Estate Owned (REO) properties, however, must be selected as a Listing broker by HUD's Asset Manager (AM) vendors. HUD will pay a commission of up to six percent to be split evenly between ``Listing'' and ``Selling'' brokers as is usual and customary in the real estate market.
Notice of Submission of Proposed Information Collection to OMB; Emergency Comment Request Rural Innovation Fund; Notice of Proposed Information Collection for Public Comment
Document Number: 2010-29653
Type: Notice
Date: 2010-11-24
Agency: Department of Housing and Urban Development
The proposed information collection requirement described below has been submitted to the Office of Management and Budget (OMB) for emergency review and approval, as required by the Paperwork Reduction Act. The Department is soliciting public comments on the subject proposal. The Rural Innovation Fund (Rural Fund) is authorized pursuant to the Consolidated Appropriations Act, 2010, Public Law 111-117. Rural Fund is designed to provide support for highly targeted and innovative grants dedicated to addressing the problems of concentrated rural housing distress and community poverty for projects that demonstrate a great likelihood of substantial impact in addressing the housing needs and community poverty in the project area.