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Code of Federal Regulations (Last Updated: May 6, 2024) |
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Title 24 - Housing and Urban Development |
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Subtitle A - Office of the Secretary, Department of Housing and Urban Development |
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Part 81 - The Secretary of HUD'S Regulation of the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac) |
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Subpart D - New Program Approval |
§ 81.52 - Requirement for program requests.
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§ 81.52 Requirement for program requests.
(a) Before implementing a new program, a GSE shall submit a request for new program approval (“program request”) to the Secretary for the Secretary's review. Submission of a program request is not required where the program that the GSE proposes to implement is not significantly different from:
(1) A program that has already been approved in writing by the Secretary; or
(2) A program that was engaged in by the GSE prior to October 28, 1992.
(b) If a GSE does not submit a program request for a program, the Secretary may request information about the program and require that the GSE submit a program request. The GSE shall comply with the request and may indicate in such response its views respecting whether the program is subject to the Secretary's review.