Office of the Secretary; Multifamily and Single Family Nonjudicial Foreclosure Procedures Streamlining

Resumo

This final rule is a part of HUD's regulatory reinvention initiative. It combines the current rules for multifamily and single family nonjudicial foreclosure at 24 CFR parts 27 and 29, respectively, into separate subparts of part 27, thereby eliminating a CFR part. In addition, this rule streamlines the multifamily requirements in the current part 27, which repeats substantial portions of the authorizing statute, and removes certain single family requirements in the current part 29 that are more restrictive than the authorizing statute.