In federal notices today

- Notice HSGN 05-13 appears on HUDCLIPS today introducing "a financing option that may be offered" for nonprofits, governmental entities, and "approved Asset Control Area (ACA) program participants" to buy, rehab, and resell HUD-owned single-family properties. It's a "Purchase Money Mortgage," described as an extremely short-term mortgage, lasting 180 days or five years depending on type, in some cases interest-free. The notice gives extensive details including a model mortgage draft.

- Of possible interest regarding property insurance: a final rule is out today from Treasury defining who counts as an insurance company's "affiliate" for purposes of terrorism insurance risk being shared by the government through the end of this year. Reading the "hypothetical scenarios" at bedtime is not advisable: they're hair-raising.