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CFR Part: "24 CFR Part 203"
RIN Number: "RIN 2502-AJ01"
Citation: "77 FR 9177"
Document Number: "Docket No. FR-5461-F-02"
"Rules and Regulations"
DATES: Effective Date:
FOR FURTHER INFORMATION CONTACT:
SUPPLEMENTARY INFORMATION: On
HUD's current regulation implementing section 238(c) is codified at 24 CFR 203.43e. The regulation, promulgated in 1977, closely tracks the language of section 238(c) of the Act. Although established to ensure the availability of affordable housing in military impacted areas, the program has been minimally utilized by eligible borrowers. Section 238(c) mortgage insurance has been available in only six counties throughout the country, three in
The President's budget requests for FYs 2011 and 2012 acknowledged the underutilization of the section 238(c) program and advised that HUD would take action to halt the availability of the program in light of the significant underutilization. The FY 2011 budget request found at http://www.gpoaccess.gov/usbudget/fy11/index.html states the following:
The Budget assumes that HUD will administratively suspend the Section 238(c) program in 2011. The Section 238(c) program provides single family mortgage insurance similar to MMI for a small number of families in areas affected by military installations. The elimination of Section 238(c) will not negatively impact the availability of FHA insured financing in the six counties currently covered under this program. (See HUD Appendix to the Budget at page 620 at http://www.gpoaccess.gov/usbudget/fy11/appendix.html). /1/
FOOTNOTE 1 The President's Budget for FY 2012, found at http://www.whitehouse.gov/omb/budget/Overview, contains identical language to the paragraph cited above; see the HUD Appendix to the FY 2012 Budget on page 591. END FOOTNOTE
II. This Final Rule
This final rule follows publication of the
Consistent with the President's budget request and Executive Order (EO) 13563, entitled "Improving Regulation and Regulatory Review," signed by the President on
III. Findings and Certification
Regulatory Flexibility Act
The Regulatory Flexibility Act (RFA) (5 U.S.C.
The final rule would not modify or add any new regulatory burdens on FHA-approved mortgage lenders. Rather, the final rule would remove
Accordingly, for the above reasons, the undersigned certifies that this rule will not have a significant economic impact on a substantial number of small entities.
Executive Order 13132, Federalism
Executive Order 13132 (entitled "Federalism") prohibits an agency from publishing any rule that has federalism implications if the rule either imposes substantial direct compliance costs on state and local governments and is not required by statute, or the rule preempts state law, unless the agency meets the consultation and funding requirements of section 6 of the Executive Order. This rule will not have federalism implications and would not impose substantial direct compliance costs on state and local governments or preempt state law within the meaning of the Executive Order.
Unfunded Mandates Reform Act
Title II of the Unfunded Mandates Reform Act of 1995 (2 U.S.C.1531-1538) (UMRA) establishes requirements for federal agencies to assess the effects of their regulatory actions on state, local, and tribal governments, and on the private sector. This rule does not impose any federal mandates on any state, local, or tribal governments, or on the private sector, within the meaning of UMRA.
This final rule does not direct, provide for assistance or loan and mortgage insurance for, or otherwise govern or regulate, real property acquisition, disposition, leasing, rehabilitation, alteration, demolition, or new construction, or establish, revise, or provide for standards for construction or construction materials, manufactured housing, or occupancy. Accordingly, under 24 CFR 50.19(c)(1), this rule is categorically excluded from environmental review under the National Environmental Policy Act of 1969 (42 U.S.C. 4321).
Catalogue of Federal Domestic Assistance
The Catalogue of Federal Domestic Assistance Number for the principal FHA single-family mortgage insurance program is 14.117.
List of Subjects in 24 CFR Part 203
Hawaiian Natives, Home improvement, Indians--lands, Loan programs--housing and community development, Mortgage insurance, Reporting and recordkeeping requirements, Solar energy.
Accordingly, for the reasons discussed in the preamble, 24 CFR part 203 is amended as follows:
PART 203--SINGLE FAMILY MORTGAGE INSURANCE
1. The authority citation for part 203 continues to read as follows:
Authority: 12 U.S.C. 1709, 1710, 1715b, 1715z-16, and 1715u; 42 U.S.C. 3535(d).
2. Remove and reserve
Acting Assistant Secretary for Housing--
[FR Doc. 2012-3667 Filed 2-15-12;
BILLING CODE 4210-67-P
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