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NAHMA HUD Update: HUD Issues final rule on Section 542(c) HFA Risk Sharing Program
- By: admin
- On: 12/23/2020 16:33:43
- In: NAHMA Update
This final rule amends the program's existing regulations, to better align with the policies of other HUD programs, reflect current industry and HUD practices, and conform to statutory amendments.
HUD Issues final rule on Section 542(c) HFA Risk Sharing Program
HUD's Office of Multifamily Housing issued a final rule for the Section 542(c) Housing Finance Agency Risk Sharing Program. This final rule amends the program's existing regulations, to better align with the policies of other HUD programs, reflect current industry and HUD practices, and conform to statutory amendments. Additionally, this rule provides HUD with greater flexibility to operate the Section 542(c) HFA Risk Sharing program more efficiently and provides HFAs which accept a greater share of the risk of loss on mortgages insured under the program with expanded program delegation. This rule also updates outdated references and terminology and clarifies other provisions. Please note that the final rule is effective January 21, 2021.The final rule for Section 542(c) Housing Finance Agency Risk Sharing Program can be found here.
