Department of Housing and Urban Development February 17, 2015 – Federal Register Recent Federal Regulation Documents
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HUD's Qualified Mortgage Rule: Annual Threshold Adjustments to the Points and Fees Limit
The Consumer Financial Protection Bureau (CFPB) issued a final rule entitled ``Truth in Lending (Regulation Z) Annual Threshold Adjustments (CARD ACT, HOEPA and ATR/QM)'' on August 15, 2014. The final rule re-calculated the annual dollar amounts for the points and fees limit in CFPB's ``qualified mortgage'' definition to reflect the annual percentage change in the Consumer Price Index in effect on June 1, 2014. HUD's ``qualified mortgage'' definition incorporates CFPB's qualified mortgage points and fees limit and the requirement that the points and fees limit be adjusted annually. This document clarifies that all annual adjustments to the qualified mortgage points and fees limit issued by the CFPB to reflect the Consumer Price Index apply to HUD's points and fees limit provision, including CFPB's most recent final rule.
Removal of Obsolete Section 8 Rental Assistance Certificate Program Regulations
This final rule removes from regulations obsolete references to the Section 8 Tenant-Based Rental Assistance Certificate program (Certificate Program). In accordance with Executive Order 13563, ``Improving Regulation and Regulatory Review,'' HUD reviewed its regulations to identify regulations that are ``outmoded, ineffective, insufficient or excessively burdensome.'' Following its review, HUD determined that the Certificate Program regulations are obsolete and unnecessary because they govern a program that has been consolidated into another program, the Housing Choice Voucher (HCV) program. This rule also makes minor editorial corrections to the regulations.
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