Department of Housing and Urban Development October 10, 2012 – Federal Register Recent Federal Regulation Documents

Pursuant to the provision of the Privacy Act of 1974, as amended (5 U.S.C. 552a), the Department of Housing and Urban Development (HUD) is providing notice of its intent to modify and delete one of its system of records notifications, the HUD/HS-10, Home Equity Conversion Mortgage (HECM) system. HUD/HS-10, HECM is being modified and replaced by the new HECM program system, Home Equity Reverse Mortgage Information Technology (HERMIT). The modifications for the existing system of records notification will reflect clarification of system activities which result in minor changes to the existing system of records notification: Categories of Individuals covered by the system (including categories of users and purposes of such users); Categories of Records covered by the system (and in the system); Purposes of the system; New system record locations, New naming convention for system, Routine uses category assigned (and purpose of such uses). All revisions are conducted to reflect the present status of the information contained in the system. The HERMIT system will allow Housing to consolidate many of the HECM program activities and improve the effectiveness of the program. The present state of the system is clarified in the supplementary and purpose information section. The scope and/or business objectives of the Home Equity Conversion Mortgage Program remain unchanged. The HUD/HS-10, HECM system of records notification will be obsolete upon publication of this notice.