Friday, March 31, 2006

New 1-fam default reporting rules and more

- As of May 1, lenders will have to report overdue payments on HUD-insured single-family mortgages when they're 30 days late, instead of the current 90 days. The preamble to the new final rule explains, "The receipt of more up-to-date information will enable HUD to better monitor its loss mitigation program and strengthen the soundness of the Federal Housing Administration (FHA) mortgage insurance funds."

- HUD is inviting comments on Form HUD-92547-A, the multifamily housing owner's budget worksheet for budget-based rent increases.

- In the Craigslist free-speech case, HUD has gotten into the act on the question -- surprisingly difficult to answer -- of whether fair housing laws apply to Internet listings.

- HUD is requesting comments on the financial management template that public housing authorities submit twice a year.

- For managers of buildings serving seniors and others eligible for Medicare, RHIIP is noting this HHS document on a renewed attempt to assist smooth transitions into the famously confusing prescription drug program. (Note: social services people helping recipients of both Medicare and Medicaid -- or a state-managed Medicaid equivalent such as California MediCal -- may want to check which medicines are covered by one program and not the other.)
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