U.S. Department of Housing and Urban Development (HUD) has more than 50 proposed rules in the pipeline in its section of the federal government’s 2023 spring regulatory agenda, which was released last week. white House,
Most of the 51 entries dedicated to HUD are in the “Proposed Rule Phase,” which is the second of five steps involved in the process before full implementation and actual regulatory authority. Several of the proposed rules involve easing or streamlining access to HUD programs, with one proposed rule easing access to HUD housing programs for people with criminal histories.
“This proposed rule would require [public housing authorities] and providers of project-based rental assistance to modify practices that unnecessarily prevent individuals who have criminal histories, but who do not pose a risk to the health and safety of other residents, from participating in HUD programs are,” the proposed rule reads. Initial notification of the proposed rulemaking is expected in August.
Another proposed rule from mortgage insurance for loans linked to down payment assistance programs would “establish circumstances in which government entities are receiving a prohibited financial benefit,” with an early notice proposal for May 2024.
HUD also plans to modernize procedures regarding engagement with mortgage borrowers who are in default, which currently requires a face-to-face meeting between the defaulting borrower, and the lender either by telephone or email. Modern videoconferencing allows services to be employed so that meetings can be held before any foreclosures. or assignment of their debt. A preliminary notice on the proposal is expected this month.
Another rule proposes equal recognition of technological advances in the delivery of housing counseling services, although counseling agencies serving a client who prefers in-person counseling sessions must either provide them or a separate agency. must refer to the one that does so.
“This rule will also eliminate the costly requirement to maintain multiple physical office spaces at each location where services are provided and instead allow participating agencies to use co-working spaces, libraries and other community facilities.” meets if the participating agency does not maintain a facility in the area but wishes to continue providing in-person services,” the proposed rule reads, along with an expected initial notification in July.
Another proposed rule that is in the “final rule” stage would “amend the requirement to register all branches that originate mortgages and/or submit applications for insurance,” the proposal reads. “Additionally, mortgage applications and annual fees are currently assessed for each authorized branch […], This rule clarifies that the department will continue to assess application and annual fees for registered branches.”
A revival of the affirmatively forward-looking fair housing rule is also included in the spring agenda, “to provide access to opportunity for underserved populations in a more effective way while achieving measurable improvements while advancing equity and avoiding unnecessary burdens”. The focus is being demanded. They say. Final action on this rule is expected by December.
