Title 24 published on 2015-04-01
The following are
ALL rules, proposed rules, and notices (chronologically) published in the Federal Register relating to 24 CFR Part 220 after this date.
2015-08-25; vol. 80 # 164 - Tuesday, August 25, 2015
80 FR 51466 - Federal Housing Administration (FHA): Standardizing Method of Payment for FHA Insurance Claims
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DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT, HUD, Office of the Assistant Secretary for Housing-Federal Housing Commissioner
Effective Date: September 24, 2015.
24 CFR Parts 203, 207, 220, 221, 232, 236 and 241
This final rule is a cost-savings measure to update HUD's regulations regarding the payment of FHA insurance claims in debentures. Section 520(a) of the National Housing Act grants the Secretary discretion to pay insurance claims in cash or debentures. Although some sections of HUD's regulations have provided mortgagees the option to elect payment of FHA insurance claims in debentures, HUD has not paid an FHA insurance claim in debentures under these regulations in approximately 5 years. This final rule amends applicable FHA regulations to bring consistency in determining the method of payment for FHA insurance claims. This final rule follows publication of the February 20, 2015, proposed rule and adopts the proposed rule without change.