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Home Equity Conversion Mortgage Insurance Demonstration: Additional Streamlining; Correction

HUD · hud-other · Published 1997-03-19 · Effective 1996-12-26 · 62 FR 12952

Document

Document number
97-6860
Federal Register citation
62 FR 12952
CFR reference
24 CFR 206
Type
Rule
Action
Final rule; Correction.
Category
hud-other
Agency
US Department of Housing and Urban Development
Publication date
1997-03-19
Effective date
1996-12-26
Docket
Docket No. FR-2958-F-07

Abstract

On September 17, 1996 (61 FR 49030), the Department issued a final rule to the changes proposed on May 10, 1996, to the Home Equity Conversion Mortgage (HECM) Insurance Demonstration. The final rule had an effective date of October 17, 1996, except that the amendment to the definition of ``principal limit'' in Sec. 206.3, had a delayed effective date of January 5, 1997. On December 26, 1996 (61 FR 67930), the Department further delayed the effective date of the definition of ``principal limit'' in Sec. 206.3 until May 1, 1997, but inadvertently did not change the date as it was set forth within the definition in two places. Today's notice corrects the references to the date contained in the definition of ``principal limit,'' as it was set forth in the December 26, 1996 publication to conform to the intent of the December 26, 1996 notice. Today's notice also makes two other technical corrections to conform with the intent of the September 17, 1996 final rule.

Source

Authoritative
Federal Register document
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