HUD Multifamily Rental Project and Health Care Facility Closing Documents; Status on Finalizing Closing Documents and Announcement of Meeting, 51842-51844 [06-7267]
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51842
Federal Register / Vol. 71, No. 169 / Thursday, August 31, 2006 / Notices
through the use of appropriate
automated collection techniques or
other forms of information technology;
e.g., permitting electronic submission of
responses.
This Notice also lists the following
information:
Title of Proposal: Section 8
Management Assessment Program
(SEMAP).
OMB Approval Number: 2577–0215.
Form Numbers: HUD–42648.
Description of the Need for the
Information and its Proposed Use: HUD
will use public housing agency annual
SEMAP certificates to rate and assess
Number of
respondents
Reporting Burden ......................................................................
Total Estimated Burden Hours:
34,720.
Status: Extension of a currently
approved collection.
Authority: Section 3507 of the Paperwork
Reduction Act of 1995, 44 U.S.C. 35, as
amended.
Dated: August 24, 2006.
Merrie Nichols-Dixon,
Acting Deputy Assistant Secretary, Policy,
Program and Legislative Initiatives.
[FR Doc. 06–7361 Filed 8–30–06; 8:45 am]
BILLING CODE 4210–67–P
DEPARTMENT OF HOUSING AND
URBAN DEVELOPMENT
[Docket No. FR–4883–N–03]
HUD Multifamily Rental Project and
Health Care Facility Closing
Documents; Status on Finalizing
Closing Documents and
Announcement of Meeting
Office of the Assistant
Secretary for Housing—Federal Housing
Commissioner, HUD.
ACTION: Notice; announcement of
meeting.
erjones on PROD1PC72 with NOTICES
AGENCY:
SUMMARY: This notice responds to recent
inquiries to the Department about the
status of HUD’s update of a
comprehensive set of closing forms and
documents for use in the Federal
Housing Administration (FHA)
multifamily rental project and health
care facility (excluding hospitals)
mortgage insurance programs. On
August 2, 2004, HUD issued for review
and public comment 36 proposed
revised closing forms. The public
comment period closed on October 1,
2004, and HUD received submissions
from 25 commenters. This notice
advises the housing industry and
interested members of the public that
these documents remain in
development and are not ready for
issuance.
Although the closing documents
remain in development, HUD
VerDate Aug<31>2005
15:29 Aug 30, 2006
Jkt 208001
×
Frequency of
response
2,565
HUD will conduct the Closing
Documents meeting on September 21,
2006.
DATES:
The Closing Documents
meeting will be held at 2 p.m. (Eastern
PO 00000
Frm 00046
Fmt 4703
Sfmt 4703
×
Hours per
response
1
understands the interest and concern of
industry and other interested members
of the public regarding the timetable for
release of these documents in final form
by HUD and the effective date of such
forms. To address the interest and
concerns regarding the status of
development, this notice describes
policy decisions that have been made on
the closing documents, and the
processes, which these documents must
still undergo before final issuance. In
addition to this notice, HUD will
conduct a meeting, on Thursday,
September 21, 2006, at HUD
Headquarters, to address questions
about the decisions that have been made
and the processes that these documents
must undergo before final issuance.
HUD is inviting to this meeting, the 25
commenters, and, subject to room
capacity limitations, other interested
members of the public. HUD also will
make phone lines available to expand
the capacity of the members of the
public that may participate in this
meeting.
The purpose of this meeting is not for
the purpose of reopening the public
comment period on the closing
documents. HUD will not accept new
comments at the meeting, either orally
or in writing, nor will HUD engage in a
discussion of issues still under
consideration. The purpose of the
meeting is solely to brief the
commenters and interested members of
the public on the status of development
of the revised closing forms. HUD
believes that a briefing on the process of
development of the forms will assist all
interested parties in understanding the
stages of review these forms must
undergo prior to issuance. HUD intends
to finalize and then implement the
revised closing forms in calendar year
2007.
ADDRESSES:
PHA management capabilities and
deficiencies in key program areas. PHAs
designated as troubled must implement
plans for improvements.
Members of the Affected Public:
Respondents: State, Local, or Tribal
Governments.
Frequency of Submission: Annually.
13.5
=
Burden hours
34,720
time) on September 21, 2006, at HUD
Headquarters for which the address is
the Department of Housing and Urban
Development, 451 Seventh Street, SW.,
Washington, DC.
Members of the public who are
interested in attending this meeting in
person or participating by phone should
submit a request to HUD at the
following e-mail address:
FHAClosingDocsMeeting@hud.gov.
HUD will strive to honor requests on
a first-come first-serve basis. However,
HUD is also interested in ensuring that
participation in this meeting, whether in
person or by phone, reflects fair
representation of the various sectors of
the industry that will be affected by
these closing documents. HUD therefore
asks that parties submitting requests to
participate in this meeting identify the
basis for their interest in these closing
documents.
Those who are confirmed to
participate in this meeting, either in
person or by phone, will receive
additional information from HUD on
how to participate in the meeting.
Visitors attending the meeting will need
to adhere to the security procedures of
the HUD building.
FOR FURTHER INFORMATION CONTACT:
Charles H. (‘‘Hank’’) Williams, Office of
Housing, Deputy Assistant Secretary for
Multifamily Housing Programs,
Department of Housing and Urban
Development, 451 Seventh Street, SW.,
Room 6106, Washington, DC 20410–
0500; telephone (202) 708–2495 (this is
not a toll-free number); John J. Daly,
Associate General Counsel for Insured
Housing, Office of the General Counsel,
Department of Housing and Urban
Development, 451 Seventh Street, SW.,
Room 9226, Washington, DC 20410–
0500; telephone (202) 708–1274 (this is
not a toll-free number). Persons with
hearing or speech disabilities may
access this number through TTY by
calling the toll-free Federal Information
Relay Service at (800) 877–8339.
To Request Participation in the
Meeting: A request to participate in the
E:\FR\FM\31AUN1.SGM
31AUN1
Federal Register / Vol. 71, No. 169 / Thursday, August 31, 2006 / Notices
meeting must be submitted to the
following e-mail address:
FHAClosingDocsMeeting@hud.gov.
SUPPLEMENTARY INFORMATION:
Background
On August 2, 2004, HUD published in
the Federal Register (69 FR 42614) a
notice that advised that, consistent with
the Paperwork Reduction Act of 1995,
HUD was publishing for public
comment a comprehensive set of revised
closing forms and documents for use in
the FHA multifamily rental project and
health care facility (excluding hospitals)
programs. In addition to meeting the
requirements of the Paperwork
Reduction Act, HUD advised that it was
seeking public comment for the purpose
of receiving input from the lending
industry and other interested parties in
HUD’s development and adoption of a
set of instruments that offer the requisite
protection to all parties in these FHAinsured mortgage programs while also
being consistent with modern real estate
practice and mortgage lending laws and
procedures. The August 2, 2004, notice
advised that HUD’s closing forms were
significantly outdated and needed a
thorough review and update to reflect
current HUD policies as well as current
practices in real estate and mortgage
financing transactions.
The August 2, 2004, notice followed
an earlier informal solicitation of public
comment on proposed revisions to the
closing documents that were posted on
HUD’s Web site in March 2000. In
response to the many comments
received from the 2000 solicitation of
public comment, significant revisions
were made to the proposed closing
documents and these revised documents
were published in the Federal Register
on August 2, 2004, for review and
public comment.
Recent inquiries to HUD have asked
whether issuance of these closing
documents in final form is imminent,
whether the revised documents will be
required to be utilized upon 30 days
following issuance in final form, and if
so, that there would be sufficient time
for industry to prepare for using the new
closing documents.
erjones on PROD1PC72 with NOTICES
Status of Update of Closing Documents
In response to the August 2, 2004,
notice, HUD received 25 timely public
comments. Although that is not a high
number of public comments, the
comments were very lengthy and
detailed, and presented many
individual comments and issues for
HUD to consider in its revision of the
closing documents, which had not been
significantly revised in approximately
VerDate Aug<31>2005
15:29 Aug 30, 2006
Jkt 208001
20 years. Several commenters offered
their own edited versions of the closing
documents with alternative language for
HUD to consider. Additionally, changes
suggested by commenters for certain
documents would require changes to be
made to other documents, and therefore
a careful review of several documents
was needed at times when a change was
recommended only to one document.
The issuance of the closing
documents in final form is not
imminent. Although all comments
submitted to HUD have been reviewed
very carefully, the closing documents
must still be reviewed by appropriate
offices within HUD and then submitted
to the Office of Management and Budget
(OMB) for review. HUD recognizes the
importance of these procedural
safeguards and is committed to ensuring
that the industry has sufficient time to
make the transition to the new closing
documents once they are issued in final.
In response to public comments on
the proposed documents, the policy
decisions that have been made include:
1. Health Care Facility (e.g., nursing
homes) documents will be published
again for public comment (e.g., on
issues such as treatment of accounts
receivable financing) as proposed
documents;
2. Revised documents other than
health care facilities (e.g., rental
projects) will be published as final
documents without further comment;
3. All revised documents will be
updated periodically (e.g., very three (3)
years to coincide with renewal of OMB
numbers under the Paperwork
Reductions Act);
4. Updates to revised documents,
which are needed more frequently than
periodic updates, will be made on a
case-by-case basis;
5. Recourse liability for Key
Principals will not be a HUD
requirement, as proposed in the
documents in the August 2, 2004,
Federal Register notice;
6. A clear definition of ‘‘HUD
Directives’’ will be provided; and
7. The effective date for the revised
documents will provide time for
processing pending FHA mortgage
insurance applications as well as for
training on the revised documents.
HUD has received requests that before
issuing the final versions of the closing
documents, HUD allow the industry and
interested members of the public to
review and comment on the documents
a second time. Except for health care
facility documents, HUD presently has
no plans for a second round of
comments (or a third round, considering
the solicitation of comments in March
2000). Other inquirers have asked that,
PO 00000
Frm 00047
Fmt 4703
Sfmt 4703
51843
if there were no further opportunity for
public comment, would HUD provide a
briefing and respond to questions on the
revised documents before they are
required to be used. HUD has provided
briefings on other rules or policies of
widespread interest or significant
impact before proceeding to
implementation, and believes that a
briefing may be appropriate for these
closing documents.
September 21, 2006, Meeting
In consideration of the widespread
interest about the revised closing
documents as well as substantial
concern about the changes that HUD
may make in the final documents, HUD
has decided it will hold a briefing on
the status of revisions to the closing
documents, primarily to outline the
procedural steps remaining in the
development process. HUD has given
serious consideration to the many
comments received on the proposed
revised documents issued in August
2004. As an expression of its
appreciation to all those who took the
time to submit careful and thoughtful
comments, HUD invites the 25
commenters to the September 21, 2006,
meeting. The names of the commenters
are attached as an appendix to this
notice.
HUD reiterates that the purpose of
this meeting is not to solicit or accept
new and/or additional public comments
of the closing documents, generally, or
the specific policy decisions listed
above.
HUD is conscientious in its effort to
keep the industry apprised of its
progress and included in it deliberative
process. In addition to the invitation to
the commenters to attend the meeting
on the closing documents, the meeting
will be open to interested members of
the public as described in the
ADDRESSES section of this notice above.
The names of all participants in the
September 21, 2006, meeting will be
posted to the HUD Web site, following
the meeting, and HUD also will post a
summary of this meeting.
Dated: August 24, 2006.
Brian D. Montgomery,
Assistant Secretary for Housing—Federal
Housing Commissioner.
Appendix—List of Commenters
1. Hirschler Fleischer, PC, Richmond, VA.
2. Fenigstein & Kaufman, PC, Los Angeles,
CA.
3. Capital Funding Group, Inc., Baltimore,
MD.
4. Berkshire Mortgage Finance, Bethesda,
MD.
5. CW Capital, Needham, MA.
E:\FR\FM\31AUN1.SGM
31AUN1
51844
Federal Register / Vol. 71, No. 169 / Thursday, August 31, 2006 / Notices
6. Alan D. Ross, Law Corporation, Encino,
CA.
7. Kantor, Taylor, McCarthy, PC, Seattle,
WA.
8. CNA Surety, Sioux Falls, SD.
9. PNC Multifamily Capital, San Francisco,
CA.
10. National Association of Home Builders,
Washington, DC.
11. Vorys, Sater, Seymour and Pease, LLP,
Cincinnati, OH.
12. National Leased Housing Association,
Washington, DC.
13. The Surety Association of America,
Washington, DC.
14. Goulston & Storrs, Counsellors at Law,
Washington, DC.
15. Nixon Peabody LLP, Washington, DC.
16. Coan & Lyons, Washington, DC.
17. AGM Financial Services, Inc.,
Baltimore, MD.
18. Boston Capital, Boston, MA.
19. Highland Mortgage Company, Raleigh,
NC.
20. Guardian Management, Portland, OR.
21. American Arbitration Association, New
York, NY.
22. P/R Mortgage & Investment Corp.,
Carmel, IN.
23. Committee on Healthcare Financing,
Washington, DC.
24. Mortgage Bankers Association,
Washington, DC.
25. M&T Realty Capital Corporation,
Baltimore, MD.
[FR Doc. 06–7267 Filed 8–30–06; 8:45 am]
BILLING CODE 4210–67–M
DEPARTMENT OF THE INTERIOR
Bureau of Indian Affairs
Bureau of Indian Affairs,
Interior.
ACTION: Notice.
erjones on PROD1PC72 with NOTICES
AGENCY:
The Pawnee Nation of Oklahoma
Liquor Ordinance reads as follows:
SUMMARY: This notice publishes the
Liquor Control Ordinance of the Pawnee
Nation of Oklahoma (Tribe). The
Ordinance regulates and controls the
possession, sale and consumption of
liquor within the Pawnee Nation of
Oklahoma including all land within the
definition of ‘‘Indian country’’ as
established and described by Federal
law under the jurisdiction of the Tribe.
This Ordinance allows for possession
and sale of alcoholic beverages within
the Pawnee Nation, and increases the
ability of the tribal government to
control the Tribe’s liquor distribution
and possession. At the same time it will
provide an important source of revenue
for the continued operation and
strengthening of the tribal government
and the delivery of tribal services.
DATES: Effective Date: This Ordinance is
effective on August 31, 2006.
15:29 Aug 30, 2006
Jkt 208001
Terry Bruner, Deputy Regional Director,
Southern Plains Regional Office, Bureau
of Indian Affairs, WCD Office Complex,
P.O. Box 368, Anadarko, OK 73005;
Telephone (405) 247–1668; Fax: (405)
247–5611 or 247–9240; or Ralph
Gonzales, Office of Tribal Services, 1849
C Street, NW., Mail Stop 4513–MIB,
Washington, DC 20240; Telephone:
(202) 513–7629.
SUPPLEMENTARY INFORMATION: Pursuant
to the Act of August 15, 1953, Public
Law 83–277, 67 Stat. 586, 18 U.S.C.
1161, as interpreted by the Supreme
Court in Rice v. Rehner, 463 U.S. 713
(1983), the Secretary of the Interior shall
certify and publish in the Federal
Register notice of adopted liquor
ordinances for the purpose of regulating
liquor transactions in Indian country.
The Pawnee Business Committee of the
Pawnee Nation of Oklahoma (Business
Committee) adopted its Liquor
Ordinance by Resolution No. 02–01 on
January 11, 2002. This is the first Liquor
Ordinance passed by the Tribe. The
purpose of this Ordinance is to govern
the sale, possession and distribution of
alcohol within tribal lands of the Tribe.
This notice is published in
accordance with the authority delegated
by the Secretary of the Interior to the
Principal Deputy Assistant Secretary—
Indian Affairs. I certify that this Liquor
Ordinance of the Pawnee Nation of
Oklahoma was duly adopted by the
Business Committee on January 11,
2002.
Dated: August 23, 2006.
Michael D. Olsen,
Principal Deputy Assistant Secretary—Indian
Affairs.
Liquor Control Ordinance of the
Pawnee Nation of Oklahoma
VerDate Aug<31>2005
FOR FURTHER INFORMATION CONTACT:
Pawnee Nation of Oklahoma Liquor
Control Providing for the Regulation of
Beer and Alcohol in the Indian Country
of the Pawnee Nation of Oklahoma
Article I. Declaration of Public Policy
and Purpose
Pursuant to Article IV, Section 1 of
the Constitution of the Pawnee Nation
of Oklahoma, the Pawnee Business
Council is the supreme governing body
of the Pawnee Nation of Oklahoma.
Pursuant to Article IV, Section 2 of
the Constitution of the Pawnee Nation
of Oklahoma, the Pawnee Business
Council shall exercise all the inherent,
statutory, and treaty powers of the
Pawnee Nation of Oklahoma by the
enactment of legislation, the transaction
of business, and by otherwise speaking
or acting on behalf of the Pawnee Nation
of Oklahoma on all matters which the
PO 00000
Frm 00048
Fmt 4703
Sfmt 4703
Pawnee Nation of Oklahoma is
empowered to act.
This document shall be known as the
Pawnee Nation of Oklahoma Liquor
Control Act. These laws are enacted to
regulate the sale and distribution of
liquor and beer products on All
Properties under the jurisdiction of the
Pawnee Nation of Oklahoma, and to
generate revenue to fund needed tribal
programs and services.
Revenue received by the Tribe under
this Act, from whatever source, shall be
expended for administrative costs
incurred in the enforcement of this Act.
Excess funds shall be subject to
appropriation by the Pawnee Business
Council for essential governmental and
social services, including the use of
revenues to combat alcohol abuse and
its debilitating effects among
individuals and family members of the
Pawnee Nation of Oklahoma.
The Pawnee Business Council finds
that tribal control and regulation of
liquor is necessary to protect the health
and welfare of tribal members, to
address specific concerns relating to
alcohol use in Pawnee Nation of
Oklahoma Indian Country, and to
achieve maximum economic benefit to
the Tribe.
The introduction, possession and sale
of liquor in Pawnee Nation of Oklahoma
Indian Country is a matter of special
concern to the Pawnee Business
Council.
The Pawnee Business Council finds
that a complete ban on liquor within
Pawnee Nation of Oklahoma Indian
Country is ineffective and unrealistic.
However, it recognizes the need for
strict regulation and control over liquor
transactions within Pawnee Nation of
Oklahoma Indian Country because of
the many potential problems associated
with the unregulated or inadequately
regulated sale, possession, distribution
and consumption of liquor.
Federal law forbids the introduction,
possession, and sale of liquor in Indian
Country except when the same is in
conformity both with the laws of the
State and the Pawnee Nation of
Oklahoma, 18 U.S.C. 1161. As such,
compliance with this Act shall be in
addition to, and not substitute for,
compliance with the laws of the State of
Oklahoma.
It is in the best interests of the Pawnee
Nation of Oklahoma to enact a tribal Act
governing liquor sales in Pawnee Nation
of Oklahoma Indian Country and which
provides for exclusive purchase,
distribution, and sale of liquor only on
tribal lands within the exterior
boundaries of Pawnee Nation of
Oklahoma Indian Country. Further, the
Tribe has determined that said
E:\FR\FM\31AUN1.SGM
31AUN1
Agencies
[Federal Register Volume 71, Number 169 (Thursday, August 31, 2006)]
[Notices]
[Pages 51842-51844]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 06-7267]
-----------------------------------------------------------------------
DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT
[Docket No. FR-4883-N-03]
HUD Multifamily Rental Project and Health Care Facility Closing
Documents; Status on Finalizing Closing Documents and Announcement of
Meeting
AGENCY: Office of the Assistant Secretary for Housing--Federal Housing
Commissioner, HUD.
ACTION: Notice; announcement of meeting.
-----------------------------------------------------------------------
SUMMARY: This notice responds to recent inquiries to the Department
about the status of HUD's update of a comprehensive set of closing
forms and documents for use in the Federal Housing Administration (FHA)
multifamily rental project and health care facility (excluding
hospitals) mortgage insurance programs. On August 2, 2004, HUD issued
for review and public comment 36 proposed revised closing forms. The
public comment period closed on October 1, 2004, and HUD received
submissions from 25 commenters. This notice advises the housing
industry and interested members of the public that these documents
remain in development and are not ready for issuance.
Although the closing documents remain in development, HUD
understands the interest and concern of industry and other interested
members of the public regarding the timetable for release of these
documents in final form by HUD and the effective date of such forms. To
address the interest and concerns regarding the status of development,
this notice describes policy decisions that have been made on the
closing documents, and the processes, which these documents must still
undergo before final issuance. In addition to this notice, HUD will
conduct a meeting, on Thursday, September 21, 2006, at HUD
Headquarters, to address questions about the decisions that have been
made and the processes that these documents must undergo before final
issuance. HUD is inviting to this meeting, the 25 commenters, and,
subject to room capacity limitations, other interested members of the
public. HUD also will make phone lines available to expand the capacity
of the members of the public that may participate in this meeting.
The purpose of this meeting is not for the purpose of reopening the
public comment period on the closing documents. HUD will not accept new
comments at the meeting, either orally or in writing, nor will HUD
engage in a discussion of issues still under consideration. The purpose
of the meeting is solely to brief the commenters and interested members
of the public on the status of development of the revised closing
forms. HUD believes that a briefing on the process of development of
the forms will assist all interested parties in understanding the
stages of review these forms must undergo prior to issuance. HUD
intends to finalize and then implement the revised closing forms in
calendar year 2007.
DATES: HUD will conduct the Closing Documents meeting on September 21,
2006.
ADDRESSES: The Closing Documents meeting will be held at 2 p.m.
(Eastern time) on September 21, 2006, at HUD Headquarters for which the
address is the Department of Housing and Urban Development, 451 Seventh
Street, SW., Washington, DC.
Members of the public who are interested in attending this meeting
in person or participating by phone should submit a request to HUD at
the following e-mail address: FHAClosingDocsMeeting@hud.gov.
HUD will strive to honor requests on a first-come first-serve
basis. However, HUD is also interested in ensuring that participation
in this meeting, whether in person or by phone, reflects fair
representation of the various sectors of the industry that will be
affected by these closing documents. HUD therefore asks that parties
submitting requests to participate in this meeting identify the basis
for their interest in these closing documents.
Those who are confirmed to participate in this meeting, either in
person or by phone, will receive additional information from HUD on how
to participate in the meeting. Visitors attending the meeting will need
to adhere to the security procedures of the HUD building.
FOR FURTHER INFORMATION CONTACT: Charles H. (``Hank'') Williams, Office
of Housing, Deputy Assistant Secretary for Multifamily Housing
Programs, Department of Housing and Urban Development, 451 Seventh
Street, SW., Room 6106, Washington, DC 20410-0500; telephone (202) 708-
2495 (this is not a toll-free number); John J. Daly, Associate General
Counsel for Insured Housing, Office of the General Counsel, Department
of Housing and Urban Development, 451 Seventh Street, SW., Room 9226,
Washington, DC 20410-0500; telephone (202) 708-1274 (this is not a
toll-free number). Persons with hearing or speech disabilities may
access this number through TTY by calling the toll-free Federal
Information Relay Service at (800) 877-8339.
To Request Participation in the Meeting: A request to participate
in the
[[Page 51843]]
meeting must be submitted to the following e-mail address:
FHAClosingDocsMeeting@hud.gov.
SUPPLEMENTARY INFORMATION:
Background
On August 2, 2004, HUD published in the Federal Register (69 FR
42614) a notice that advised that, consistent with the Paperwork
Reduction Act of 1995, HUD was publishing for public comment a
comprehensive set of revised closing forms and documents for use in the
FHA multifamily rental project and health care facility (excluding
hospitals) programs. In addition to meeting the requirements of the
Paperwork Reduction Act, HUD advised that it was seeking public comment
for the purpose of receiving input from the lending industry and other
interested parties in HUD's development and adoption of a set of
instruments that offer the requisite protection to all parties in these
FHA-insured mortgage programs while also being consistent with modern
real estate practice and mortgage lending laws and procedures. The
August 2, 2004, notice advised that HUD's closing forms were
significantly outdated and needed a thorough review and update to
reflect current HUD policies as well as current practices in real
estate and mortgage financing transactions.
The August 2, 2004, notice followed an earlier informal
solicitation of public comment on proposed revisions to the closing
documents that were posted on HUD's Web site in March 2000. In response
to the many comments received from the 2000 solicitation of public
comment, significant revisions were made to the proposed closing
documents and these revised documents were published in the Federal
Register on August 2, 2004, for review and public comment.
Recent inquiries to HUD have asked whether issuance of these
closing documents in final form is imminent, whether the revised
documents will be required to be utilized upon 30 days following
issuance in final form, and if so, that there would be sufficient time
for industry to prepare for using the new closing documents.
Status of Update of Closing Documents
In response to the August 2, 2004, notice, HUD received 25 timely
public comments. Although that is not a high number of public comments,
the comments were very lengthy and detailed, and presented many
individual comments and issues for HUD to consider in its revision of
the closing documents, which had not been significantly revised in
approximately 20 years. Several commenters offered their own edited
versions of the closing documents with alternative language for HUD to
consider. Additionally, changes suggested by commenters for certain
documents would require changes to be made to other documents, and
therefore a careful review of several documents was needed at times
when a change was recommended only to one document.
The issuance of the closing documents in final form is not
imminent. Although all comments submitted to HUD have been reviewed
very carefully, the closing documents must still be reviewed by
appropriate offices within HUD and then submitted to the Office of
Management and Budget (OMB) for review. HUD recognizes the importance
of these procedural safeguards and is committed to ensuring that the
industry has sufficient time to make the transition to the new closing
documents once they are issued in final.
In response to public comments on the proposed documents, the
policy decisions that have been made include:
1. Health Care Facility (e.g., nursing homes) documents will be
published again for public comment (e.g., on issues such as treatment
of accounts receivable financing) as proposed documents;
2. Revised documents other than health care facilities (e.g.,
rental projects) will be published as final documents without further
comment;
3. All revised documents will be updated periodically (e.g., very
three (3) years to coincide with renewal of OMB numbers under the
Paperwork Reductions Act);
4. Updates to revised documents, which are needed more frequently
than periodic updates, will be made on a case-by-case basis;
5. Recourse liability for Key Principals will not be a HUD
requirement, as proposed in the documents in the August 2, 2004,
Federal Register notice;
6. A clear definition of ``HUD Directives'' will be provided; and
7. The effective date for the revised documents will provide time
for processing pending FHA mortgage insurance applications as well as
for training on the revised documents.
HUD has received requests that before issuing the final versions of
the closing documents, HUD allow the industry and interested members of
the public to review and comment on the documents a second time. Except
for health care facility documents, HUD presently has no plans for a
second round of comments (or a third round, considering the
solicitation of comments in March 2000). Other inquirers have asked
that, if there were no further opportunity for public comment, would
HUD provide a briefing and respond to questions on the revised
documents before they are required to be used. HUD has provided
briefings on other rules or policies of widespread interest or
significant impact before proceeding to implementation, and believes
that a briefing may be appropriate for these closing documents.
September 21, 2006, Meeting
In consideration of the widespread interest about the revised
closing documents as well as substantial concern about the changes that
HUD may make in the final documents, HUD has decided it will hold a
briefing on the status of revisions to the closing documents, primarily
to outline the procedural steps remaining in the development process.
HUD has given serious consideration to the many comments received on
the proposed revised documents issued in August 2004. As an expression
of its appreciation to all those who took the time to submit careful
and thoughtful comments, HUD invites the 25 commenters to the September
21, 2006, meeting. The names of the commenters are attached as an
appendix to this notice.
HUD reiterates that the purpose of this meeting is not to solicit
or accept new and/or additional public comments of the closing
documents, generally, or the specific policy decisions listed above.
HUD is conscientious in its effort to keep the industry apprised of
its progress and included in it deliberative process. In addition to
the invitation to the commenters to attend the meeting on the closing
documents, the meeting will be open to interested members of the public
as described in the ADDRESSES section of this notice above. The names
of all participants in the September 21, 2006, meeting will be posted
to the HUD Web site, following the meeting, and HUD also will post a
summary of this meeting.
Dated: August 24, 2006.
Brian D. Montgomery,
Assistant Secretary for Housing--Federal Housing Commissioner.
Appendix--List of Commenters
1. Hirschler Fleischer, PC, Richmond, VA.
2. Fenigstein & Kaufman, PC, Los Angeles, CA.
3. Capital Funding Group, Inc., Baltimore, MD.
4. Berkshire Mortgage Finance, Bethesda, MD.
5. CW Capital, Needham, MA.
[[Page 51844]]
6. Alan D. Ross, Law Corporation, Encino, CA.
7. Kantor, Taylor, McCarthy, PC, Seattle, WA.
8. CNA Surety, Sioux Falls, SD.
9. PNC Multifamily Capital, San Francisco, CA.
10. National Association of Home Builders, Washington, DC.
11. Vorys, Sater, Seymour and Pease, LLP, Cincinnati, OH.
12. National Leased Housing Association, Washington, DC.
13. The Surety Association of America, Washington, DC.
14. Goulston & Storrs, Counsellors at Law, Washington, DC.
15. Nixon Peabody LLP, Washington, DC.
16. Coan & Lyons, Washington, DC.
17. AGM Financial Services, Inc., Baltimore, MD.
18. Boston Capital, Boston, MA.
19. Highland Mortgage Company, Raleigh, NC.
20. Guardian Management, Portland, OR.
21. American Arbitration Association, New York, NY.
22. P/R Mortgage & Investment Corp., Carmel, IN.
23. Committee on Healthcare Financing, Washington, DC.
24. Mortgage Bankers Association, Washington, DC.
25. M&T Realty Capital Corporation, Baltimore, MD.
[FR Doc. 06-7267 Filed 8-30-06; 8:45 am]
BILLING CODE 4210-67-M