U.S. Department of Housing and Urban Development (HUD)– Section 184 Proposed Rule
On December 21, 2022, the U.S. Department of Housing and Urban Development (“HUD”) announced that it is soliciting comments regarding a proposed rule which would revise the regulations governing the Section 184 Indian Home Loan Guarantee Program (“Section 184 Program”).
This proposed rule strives to modernize and enhance the Section 184 Program by adding participation and eligibility requirements for Lenders and other financial institutions. This proposed rule would also clarify the rules governing Tribal participation in the program, establish underwriting requirements, specify rules on the closing and endorsement process, establish stronger and clearer servicing requirements, establish program rules governing claims submitted by Servicers and paid by HUD, and add standards governing monitoring, reporting, sanctions and appeals. This rule would add new definitions and make statutory conforming amendments, including the categorical exclusion of the Section 184 program in HUD’s environmental review regulations.
Deadline for written comments is: March 17, 2023
Written comments should be submitted through one of two methods, specified below:
- Electronic Submission: Interested persons may submit comments electronically through the Federal eRulemaking Portal at www.regulations.gov.
- Submission of Comments by Mail: Comments may be submitted by mail to the Regulations Division, Office of General Counsel, Department of Housing and Urban Development, 451 7th Street SW, Room 10276, Washington, DC 20410-0500.
For more information please contact:
Krisa Johnson, Director, Office of Loan Guarantee, Office of Native American Programs, Office of Public and Indian Housing, Department of Housing and Urban Development
451 7th Street SW, Room 4108, Washington, DC 20410
Federal Register Notice is available here: https://www.govinfo.gov/content/pkg/FR-2022-12-21/pdf/2022-26097.pdf
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