Comment Submitted by Mary Martell, Martell & Associates

Document ID: HUD-2010-0116-0002
Document Type: Public Submission
Agency: Department Of Housing And Urban Development
Received Date: December 07 2010, at 12:00 AM Eastern Standard Time
Date Posted: December 8 2010, at 12:00 AM Eastern Standard Time
Comment Start Date: November 12 2010, at 12:00 AM Eastern Standard Time
Comment Due Date: December 13 2010, at 11:59 PM Eastern Standard Time
Tracking Number: 80bb1491
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Under existing and proposed rules, Section 207.258(b)(1)(i) provides for the mortgagee to assign the mortgage to HUD within 30 days of the mortgagee's election to assign. This language is inconsistent with procedures that HUD has implemented for decades. Instead of measuring the deadline for the assignment to HUD from the date of the mortgagee's election, HUD has provided the mortgagee with a deadline measured from the date of HUD’s acknowledgment of the mortgagee's election. A simple way to correct Section 207.258(b)(1)(i) is to delete “, at any time within 30 days after the date of notice of the election," from the sentence.

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