Multifamily Mortgage Insurance Premiums; Withdrawal of Proposal To Implement Changes in Mortgage Insurance Premiums for FY2008, 12755-12756 [E8-4600]
Download as PDF
<![CDATA[
pwalker on PROD1PC71 with NOTICES
Federal Register / Vol. 73, No. 47 / Monday, March 10, 2008 / Notices
When you click on the HUD agency
name, you will come to a page with all
the funding opportunities that are
posted by HUD at that point in time.
When you click on an opportunity, you
will come to a page that provides a
synopsis of the opportunity and which
also identifies the Catalog of Federal
Domestic Assistance (CFDA) Number
for the Program, the Funding
Opportunity Number and further down
the page, a link to the full
announcement. To download the
application and instructions, follow the
directions below, but first you must be
sure you have the compatible Adobe
Reader installed. HUD’s 2008
applications will be using Adobe forms.
To open and complete the application
package you must have installed Adobe
Reader 8.1.2 or higher. Adobe Reader
8.1.2 is available free and can be found
on the Grants.gov Web site at https://
www.grants.gov/help/
download_software.jsp. You will not be
able to complete or submit your
application if you fail to download the
free Adobe Reader 8.1.2 (or higher
version available on Grants.gov). Please
make anyone that will be working on
the Adobe forms portion of the
application aware that they must
download the new 8.1.2 Adobe Reader.
This does not impact forms that you
may save as PDF forms to your
application as attachments. Adobe
Reader 8.1.2 is compatible with Adobe
Professional versions. However, for the
newest reader to work, you must be sure
that your Adobe default setting for the
Reader is set to the Adobe 8.1.2 version.
For information on how to set your
default settings, go to https://grants.gov/
help/general_faqs.jsp#19. Follow
Option #2, labeled ‘‘Set Your Computers
Default to Use the Correct Version of
Adobe Reader for the opening of all files
with a PDF extension’’.
Applicants are urged to review the
Adobe Reader 8.1.2 information and get
the new reader installed on their
computer when this Notice is published
so that they are prepared for the FY
2008 NOFAs when they are published
in the Spring of 2008.
A. Application Package and
Application Instructions Download.
Once you have installed Adobe Reader
8.1.2 you can download the Application
Package and instructions. To download
the application and instructions go to
https://apply07.grants.gov/apply/
forms_apps_idx.html and enter the
CFDA Number, Funding Opportunity
Number, or Funding Competition ID for
the opportunity you are interested in; do
not enter more than one criterion. If you
enter more than one criterion, you will
get a message that states the opportunity
VerDate Aug<31>2005
16:39 Mar 07, 2008
Jkt 214001
cannot be found. Only enter one of the
above numbers.
On the next page ‘‘Selected Grant
Applications for Download,’’ you will
find the funding opportunity link to
Download Instructions and Application.
Additional resource information is also
on this page, including a reminder to
sign up for e-mail notification for
changes to funding opportunity, a
download link to the Adobe Reader as
well as a Help link.
Click on the Download link to get to
the Download page. Then proceed to
download the instructions and the
application. If you get an error message
in opening the downloaded application,
you have not properly installed the
Adobe Reader 8.1.2. Contact your IT
help desk or the Grants.gov support
desk at Support@Grants.gov by e-mail or
by calling 800–518–GRANTS.
B. Download Instructions Link. The
instructions download is a compressed
file (ZIP) containing the General Section
and Program Sections for the funding
opportunity. It also contains forms and
copies of the General Section and
Program Section of HUD’s NOFAs,
information that you will need to
submit a complete application to
Grants.gov for HUD funding
consideration. For each program, NOFA
provides a checklist which you can use
to ensure that you have completed all
elements of your application. HUD’s
General Section provides helpful
information and tips to ensure that you
complete your application correctly and
what to do to ensure that all your
information is attached to the
application. When attaching files to
your application, HUD suggests that you
open each attachment file and scroll
down to make sure it is the complete
file that you want to submit.
C. Compatibility with Apple
Macintosh computers, Microsoft
Windows Vista operating system, and
Microsoft Office 2007. HUD moved to
the Adobe forms application in FY 2008
because the forms are compatible with
the broadest array of computer hardware
and software technology currently in
use by HUD’s applicant/grantee
community. For information on Adobe
compatibility go to https://
www.grants.gov/help/
download_software.jsp. Applicants can
test if they have the software installed
properly by going to https://
www.grants.gov/applicants/
AdobeVersioningTestOnly.jsp.
Questions regarding the installation of
Adobe Reader 8.1.2 should be directed
to the Grants.gov help desk during
operating hours Monday–Friday (except
Federal holidays) from 7 a.m. to 9 p.m.
at 800–518–GRANTS.
PO 00000
Frm 00054
Fmt 4703
Sfmt 4703
12755
Dated: February 28, 2008.
Keith A. Nelson,
Assistant Secretary for Administration.
[FR Doc. E8–4724 Filed 3–7–08; 8:45 am]
BILLING CODE 4210–67–P
DEPARTMENT OF HOUSING AND
URBAN DEVELOPMENT
[Docket No. FR–4679–N–14]
Multifamily Mortgage Insurance
Premiums; Withdrawal of Proposal To
Implement Changes in Mortgage
Insurance Premiums for FY2008
Office of the Assistant
Secretary for Housing—Federal Housing
Commissioner, HUD.
ACTION: Final notice.
AGENCY:
SUMMARY: On October 18, 2007, HUD
published, for public comment, a notice
announcing proposed changes in the
mortgage insurance premiums (MIP) for
certain Federal Housing Administration
(FHA) multifamily mortgage insurance
programs whose commitments will be
issued or reissued in Fiscal Year (FY)
2008. Based on consideration of the
concerns raised in the public comments,
HUD has decided not to proceed with
implementation of the proposed MIP
increases for FY2008. The MIPs in effect
during FY2006 and FY2007 will be the
same rates applied to commitments
issued or reissued in FY2008.
FOR FURTHER INFORMATION CONTACT: Eric
Stevenson, Director, Policy Division,
Office of Multifamily Development,
Department of Housing and Urban
Development, 451 Seventh Street, SW.,
Washington, DC 20410–8000,
Telephone: (202) 708–1142 (this is not
a toll-free number). Hearing- or speechimpaired individuals may access these
numbers through TTY by calling the
Federal Information Relay Service at
(800) 877–8339 (this is a toll-free
number).
SUPPLEMENTARY INFORMATION:
I. Background
HUD’s regulations at 24 CFR 207.252,
207.252a, and 207.254 provide that
instead of setting the MIP at one specific
rate for all programs, the Secretary is
permitted to change an MIP program by
program within the full range of HUD’s
statutory authority of one fourth of one
percent to one percent of the
outstanding mortgage principal per
annum through a notice, as provided in
section 203(c)(1) of the National
Housing Act (the Act) (12 U.S.C.
1709(c)(1)). The regulation at 24 CFR
207.254 states that HUD will provide a
30-day period for public comment on
E:\FR\FM\10MRN1.SGM
10MRN1
12756
Federal Register / Vol. 73, No. 47 / Monday, March 10, 2008 / Notices
notices changing MIPs in multifamily
insured housing programs.
On October 18, 2007 (72 FR 59150),
HUD published a notice that proposed
changes in MIPs for certain FHA
multifamily mortgage insurance
programs whose commitments will be
issued or reissued in FY2008. HUD
provided a 30-day public comment
period which closed on November 19,
2007. HUD received approximately 179
comments, which included letters from
members of Congress, trade associations
and other interested members of the
public. All commenters expressed
opposition to the proposed changes.
Based on consideration of the concerns
raised in public comments, HUD has
decided not to proceed with
implementation of the proposed MIP
increases for FY2008. The MIPs
originally published on August 30, 2005
(70 FR 51538) and in effect during
FY2006 and FY2007 will be the same
rates applied to commitments issued or
reissued in FY2008, and are set out in
Section II of this notice.
II. FY2008 Mortgage Insurance
Premiums
The mortgage insurance premiums to
be in effect for FHA firm commitments
issued or reissued in FY 2008 are shown
in the table below. For all projects with
low-income housing tax credits (LIHTC)
the sponsor is required under the
Department of Housing and Urban
Development Reform Act of 1989 (Pub.
L. 101–235 (approved December 15,
1989)) and HUD’s implementing
instructions to submit a certification
regarding governmental assistance with
all multifamily mortgage insurance
applications.
FISCAL YEAR 2008 MIP RATES—MULTIFAMILY LOAN PROGRAM
Loan program
Basis points
207 Multifamily Housing NC/SR without LIHTC ..................................................................................................................................
207 Multifamily Housing NC/SR with LIHTC .......................................................................................................................................
207 Manufactured Home Parks without LIHTC ..................................................................................................................................
207 Manufactured Home Parks with LIHTC .......................................................................................................................................
221(d)(3) Nonprofit/Cooperative mortgagor without LIHTC ................................................................................................................
221(d)(3) Limited dividend with LIHTC ................................................................................................................................................
221(d)(4) NC/SR without LIHTC ..........................................................................................................................................................
221(d)(4) NC/SR with LIHTC ...............................................................................................................................................................
232 NC/SR Health Care Facilities without LIHTC ...............................................................................................................................
232 NC/SR—Assisted Living Facilities with LIHTC ............................................................................................................................
220 Urban Renewal Housing without LIHTC ......................................................................................................................................
220 Urban Renewal Housing with LIHTC ...........................................................................................................................................
213 Cooperative ..................................................................................................................................................................................
231 Elderly Housing without LIHTC ....................................................................................................................................................
231 Elderly Housing with LIHTC .........................................................................................................................................................
207/223(f) Refinance or Purchase for Apartments without LIHTC .....................................................................................................
207/223(f) Refinance or Purchase for Apartments with LIHTC ..........................................................................................................
232/223(f) Refinance for Health Care Facilities without LIHTC ..........................................................................................................
232/223(f) Refinance for Health Care Facilities with LIHTC ...............................................................................................................
223(a)(7) Refinance of Apartments without LIHTC .............................................................................................................................
223(a)(7) Refinance of Apartments with LIHTC ..................................................................................................................................
223(a)(7) Refinance of Health Care Facilities without LIHTC .............................................................................................................
223(a)(7) Refinance of Health Care Facilities with LIHTC ..................................................................................................................
223d Operating loss loan for Apartments ...........................................................................................................................................
223d Operating loss loan for Health Care Facilities ...........................................................................................................................
241(a) Improvements/additions for Apartments/coop without LIHTC .................................................................................................
241(a) Improvements/additions for Apartments/coop with LIHTC ......................................................................................................
241(a) Improvements/additions for Health Care Facilities without LIHTC ..........................................................................................
241(a) Improvements/additions for Health Care Facilities with LIHTC ...............................................................................................
242 Hospitals .......................................................................................................................................................................................
Title XI—Group Practice ......................................................................................................................................................................
50
45
50
45
80
45
45
45
57
45
50
45
50
50
45
*45
*45
*50
*45
45
45
50
45
80
80
80
45
57
45
50
50
* The First Year MIP for the section 207/223(f) loans for apartments is one percent for the first year, as specified in sections 24 CFR
207.232b(a). The first year MIP for 232/223(f) health care facilities is one percent.
pwalker on PROD1PC71 with NOTICES
Credit Subsidy
A credit subsidy obligation is required
for the three sections of the Act listed
below. If the mortgagor’s equity is
produced from LIHTC for sections
221(d)(3) and 241(a), a credit subsidy
obligation will not be required.
• Section 221(d)(3) for new
construction or substantial
rehabilitation (NC/SR).
• Section 223(d) for operating loss
loans for both apartments and health
care facilities.
VerDate Aug<31>2005
16:39 Mar 07, 2008
Jkt 214001
• Section 241(a) for supplemental
loans for additions or improvements for
apartments only.
DEPARTMENT OF THE INTERIOR
Dated: February 29, 2008.
Brian D. Montgomery,
Assistant Secretary for Housing, Federal
Housing Commissioner.
[FR Doc. E8–4600 Filed 3–7–08; 8:45 am]
[F–19154–8; AK–964–1410–HY–P]
BILLING CODE 4210–67–P
PO 00000
Bureau of Land Management
Alaska Native Claims Selection
Bureau of Land Management,
Interior.
ACTION: Notice of decision approving
lands for conveyance.
AGENCY:
SUMMARY: As required by 43 CFR
2650.7(d), notice is hereby given that an
appealable decision approving the
surface and subsurface estates in certain
Frm 00055
Fmt 4703
Sfmt 4703
E:\FR\FM\10MRN1.SGM
10MRN1
]]>Agencies
[Federal Register Volume 73, Number 47 (Monday, March 10, 2008)]
[Notices]
[Pages 12755-12756]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E8-4600]
-----------------------------------------------------------------------
DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT
[Docket No. FR-4679-N-14]
Multifamily Mortgage Insurance Premiums; Withdrawal of Proposal
To Implement Changes in Mortgage Insurance Premiums for FY2008
AGENCY: Office of the Assistant Secretary for Housing--Federal Housing
Commissioner, HUD.
ACTION: Final notice.
-----------------------------------------------------------------------
SUMMARY: On October 18, 2007, HUD published, for public comment, a
notice announcing proposed changes in the mortgage insurance premiums
(MIP) for certain Federal Housing Administration (FHA) multifamily
mortgage insurance programs whose commitments will be issued or
reissued in Fiscal Year (FY) 2008. Based on consideration of the
concerns raised in the public comments, HUD has decided not to proceed
with implementation of the proposed MIP increases for FY2008. The MIPs
in effect during FY2006 and FY2007 will be the same rates applied to
commitments issued or reissued in FY2008.
FOR FURTHER INFORMATION CONTACT: Eric Stevenson, Director, Policy
Division, Office of Multifamily Development, Department of Housing and
Urban Development, 451 Seventh Street, SW., Washington, DC 20410-8000,
Telephone: (202) 708-1142 (this is not a toll-free number). Hearing- or
speech-impaired individuals may access these numbers through TTY by
calling the Federal Information Relay Service at (800) 877-8339 (this
is a toll-free number).
SUPPLEMENTARY INFORMATION:
I. Background
HUD's regulations at 24 CFR 207.252, 207.252a, and 207.254 provide
that instead of setting the MIP at one specific rate for all programs,
the Secretary is permitted to change an MIP program by program within
the full range of HUD's statutory authority of one fourth of one
percent to one percent of the outstanding mortgage principal per annum
through a notice, as provided in section 203(c)(1) of the National
Housing Act (the Act) (12 U.S.C. 1709(c)(1)). The regulation at 24 CFR
207.254 states that HUD will provide a 30-day period for public comment
on
[[Page 12756]]
notices changing MIPs in multifamily insured housing programs.
On October 18, 2007 (72 FR 59150), HUD published a notice that
proposed changes in MIPs for certain FHA multifamily mortgage insurance
programs whose commitments will be issued or reissued in FY2008. HUD
provided a 30-day public comment period which closed on November 19,
2007. HUD received approximately 179 comments, which included letters
from members of Congress, trade associations and other interested
members of the public. All commenters expressed opposition to the
proposed changes. Based on consideration of the concerns raised in
public comments, HUD has decided not to proceed with implementation of
the proposed MIP increases for FY2008. The MIPs originally published on
August 30, 2005 (70 FR 51538) and in effect during FY2006 and FY2007
will be the same rates applied to commitments issued or reissued in
FY2008, and are set out in Section II of this notice.
II. FY2008 Mortgage Insurance Premiums
The mortgage insurance premiums to be in effect for FHA firm
commitments issued or reissued in FY 2008 are shown in the table below.
For all projects with low-income housing tax credits (LIHTC) the
sponsor is required under the Department of Housing and Urban
Development Reform Act of 1989 (Pub. L. 101-235 (approved December 15,
1989)) and HUD's implementing instructions to submit a certification
regarding governmental assistance with all multifamily mortgage
insurance applications.
Fiscal Year 2008 MIP Rates--Multifamily Loan Program
------------------------------------------------------------------------
Loan program Basis points
------------------------------------------------------------------------
207 Multifamily Housing NC/SR without LIHTC............. 50
207 Multifamily Housing NC/SR with LIHTC................ 45
207 Manufactured Home Parks without LIHTC............... 50
207 Manufactured Home Parks with LIHTC.................. 45
221(d)(3) Nonprofit/Cooperative mortgagor without LIHTC. 80
221(d)(3) Limited dividend with LIHTC................... 45
221(d)(4) NC/SR without LIHTC........................... 45
221(d)(4) NC/SR with LIHTC.............................. 45
232 NC/SR Health Care Facilities without LIHTC.......... 57
232 NC/SR--Assisted Living Facilities with LIHTC........ 45
220 Urban Renewal Housing without LIHTC................. 50
220 Urban Renewal Housing with LIHTC.................... 45
213 Cooperative......................................... 50
231 Elderly Housing without LIHTC....................... 50
231 Elderly Housing with LIHTC.......................... 45
207/223(f) Refinance or Purchase for Apartments without *45
LIHTC..................................................
207/223(f) Refinance or Purchase for Apartments with *45
LIHTC..................................................
232/223(f) Refinance for Health Care Facilities without *50
LIHTC..................................................
232/223(f) Refinance for Health Care Facilities with *45
LIHTC..................................................
223(a)(7) Refinance of Apartments without LIHTC......... 45
223(a)(7) Refinance of Apartments with LIHTC............ 45
223(a)(7) Refinance of Health Care Facilities without 50
LIHTC..................................................
223(a)(7) Refinance of Health Care Facilities with LIHTC 45
223d Operating loss loan for Apartments................. 80
223d Operating loss loan for Health Care Facilities..... 80
241(a) Improvements/additions for Apartments/coop 80
without LIHTC..........................................
241(a) Improvements/additions for Apartments/coop with 45
LIHTC..................................................
241(a) Improvements/additions for Health Care Facilities 57
without LIHTC..........................................
241(a) Improvements/additions for Health Care Facilities 45
with LIHTC.............................................
242 Hospitals........................................... 50
Title XI--Group Practice................................ 50
------------------------------------------------------------------------
* The First Year MIP for the section 207/223(f) loans for apartments is
one percent for the first year, as specified in sections 24 CFR
207.232b(a). The first year MIP for 232/223(f) health care facilities
is one percent.
Credit Subsidy
A credit subsidy obligation is required for the three sections of
the Act listed below. If the mortgagor's equity is produced from LIHTC
for sections 221(d)(3) and 241(a), a credit subsidy obligation will not
be required.
Section 221(d)(3) for new construction or substantial
rehabilitation (NC/SR).
Section 223(d) for operating loss loans for both
apartments and health care facilities.
Section 241(a) for supplemental loans for additions or
improvements for apartments only.
Dated: February 29, 2008.
Brian D. Montgomery,
Assistant Secretary for Housing, Federal Housing Commissioner.
[FR Doc. E8-4600 Filed 3-7-08; 8:45 am]
BILLING CODE 4210-67-P
