Multifamily Mortgage Insurance Premiums (MIPs) and Credit Subsidy Obligations for Fiscal Year (FY) 2009, 55124-55125 [E8-22333]
Download as PDF
<![CDATA[
55124
Federal Register / Vol. 73, No. 186 / Wednesday, September 24, 2008 / Notices
then be updated to ensure accurate
service of correspondence between ICE
and the obligor.
(5) An estimate of the total number of
respondents and the amount of time
estimated for an average respondent to
respond: 12,000 responses at 15 minutes
(.25 hours) per response.
(6) An estimate of the total public
burden (in hours) associated with the
collection: 3,000 annual burden hours.
Comments and/or questions; requests
for a copy of the proposed information
collection instrument, with instructions;
or inquiries for additional information
should be directed to: Lee Shirkey,
Chief, Records Management Branch,
U.S. Immigration and Customs
Enforcement, 425 I Street, NW., Room
1122, Washington, DC 20536; (202) 353–
2266.
Dated: September 4, 2008.
Lee Shirkey,
Chief, Records Management Branch, U.S.
Immigration and Customs Enforcement,
Department of Homeland Security.
[FR Doc. E8–20971 Filed 9–23–08; 8:45 am]
BILLING CODE 9111–28–P
[Docket No. FR–5231–N–01]
Multifamily Mortgage Insurance
Premiums (MIPs) and Credit Subsidy
Obligations for Fiscal Year (FY) 2009
Office of the Assistant
Secretary for Housing—Federal Housing
Commissioner, HUD.
ACTION: Notice.
AGENCY:
jlentini on PROD1PC65 with NOTICES
SUMMARY: This notice announces the
mortgage insurance premiums (MIPs)
for Federal Housing Administration
(FHA) multifamily mortgage insurance
programs that have commitments to be
issued or reissued in Fiscal Year (FY)
2009. The FY2009 MIPs are the same as
in FY2008. This annual notice includes
for the first time two additional MIPs for
the hospital mortgage insurance
programs: (1) Supplemental loans for
hospitals; and (2) refinancing for
existing FHA-insured hospitals. These
are not new MIPs and the amounts
charged for them will be the same as in
previous years.
In addition to announcing MIPs for
FY2009, this notice announces that
credit subsidy obligations are required
17:26 Sep 23, 2008
Jkt 214001
I. Background
HUD’s multifamily housing mortgage
insurance regulation at 24 CFR 207.254
provides as follows:
Notice of future premium changes will be
published in the Federal Register. The
Department will propose MIP changes for
multifamily mortgage insurance programs
and provide a 30-day public comment period
for the purpose of accepting comments on
whether the proposed changes are
appropriate.
DEPARTMENT OF HOUSING AND
URBAN DEVELOPMENT
VerDate Aug<31>2005
for firm commitments issued or reissued
for FHA’s three positive credit subsidy
programs: (1) Section 221(d)(3) New
Construction/Substantial Rehabilitation
for Nonprofit/Cooperatives; (2) Section
241(a) Supplemental Loans for
apartments only; and (3) Section 223(d)
Operating Loss Loans. These obligations
are not new for FY2009.
DATES: Effective Date: October 1, 2008.
FOR FURTHER INFORMATION CONTACT: Eric
Stevenson, Deputy 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:
Under this regulation, HUD is
required to publish a notice for public
comment only when there are premium
‘‘changes.’’ Since HUD is not seeking to
implement any premium changes for
FY2009 for the multifamily mortgage
insurance programs listed in this notice,
a notice and public comment is not
required. HUD is merely providing this
notice to ensure that there is clarity as
to the multifamily insured housing MIPs
for FY2009, and is not seeking public
comments.
II. Low-Income Housing Tax Credits
MIP rates for many multifamily FHA
mortgage programs depend on whether
or not the sponsor is combining lowincome housing tax credits with the
FHA-insured loan. 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, a sponsor is required to
PO 00000
Frm 00104
Fmt 4703
Sfmt 4703
submit a certification regarding
governmental assistance, including any
low-income housing tax credits, with
mortgage insurance applications.
III. MIPs for Multifamily Programs for
FY 2009
This notice announces the MIPs that
will be in effect during FY2009 for the
multifamily housing programs listed in
this notice and for FHA’s hospital
mortgage insurance program authorized
under section 242 of the National
Housing Act, 12 U.S.C. 1715z–7. Section
241(a) Supplemental Loans and Section
223(a)(7) Refinancing of existing FHAinsured mortgages under Section 242
Hospital Program, which is overseen by
FHA’s Office of Insured Health Care
Facilities, have been added for the first
time to the MIP table in this annual
notice. No changes in the basis points
charged on multifamily loan and
hospital programs are proposed for
FY2009. The effective date for these
mortgage insurance premiums is
October 1, 2008.
Credit Subsidy
This notice also announces that a
credit subsidy obligation continues to be
required for the three sections of the
National Housing Act listed below.
However, if the mortgagor’s equity is
produced from low-income housing tax
credits (LIHTC) for Sections 221(d)(3) or
241(a), a credit subsidy obligation will
not be required. For the loans requiring
a credit subsidy obligation, the program
office inserts a special clause into the
firm commitment or an invitation
pertaining to a Site Appraisal and
Market Analysis (SAMA)/Feasibility/
Multifamily Accelerated Processing
(MAP) letter. The clause states that the
firm commitment is contingent upon
availability of funds.
• Section 221(d)(3) New
Construction/Substantial Rehabilitation
for Nonprofit/Cooperatives.
• Section 223(d) Operating Loss
Loans for both apartments and health
care facilities.
• Section 241(a) Supplemental Loans
for additions or improvements for
apartments only.
The mortgage insurance premiums to
be in effect for FHA firm commitments
issued or reissued in FY2009 are shown
in the table below:
E:\FR\FM\24SEN1.SGM
24SEN1
Federal Register / Vol. 73, No. 186 / Wednesday, September 24, 2008 / Notices
55125
FISCAL YEAR 2009 MIP RATES
[Multifamily Loans and Hospital Programs]
Basis points
FHA Apartments
207 Multifamily Housing New Construction/Sub Rehab without LIHTC .............................................................................................
207 Multifamily Housing New Construction/Sub Rehab with LIHTC ..................................................................................................
207 Manufactured Home Parks without LIHTC ..................................................................................................................................
207 Manufactured Home Parks with LIHTC .......................................................................................................................................
221(d)(3) New Construction/Substantial Rehabilitation (NC/SR) for 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 ...............................................................................................................................................................
220 Urban Renewal Housing without LIHTC ......................................................................................................................................
220 Urban Renewal Housing with LIHTC ...........................................................................................................................................
213 Cooperative ..................................................................................................................................................................................
207/223(f) Refinance or Purchase for Apartments without LIHTC .....................................................................................................
207/223(f) Refinance or Purchase for Apartments with LIHTC ..........................................................................................................
223(a)(7) Refinance of Apartments without LIHTC .............................................................................................................................
223(a)(7) Refinance of Apartments with LIHTC ..................................................................................................................................
223d Operating Loss Loan for Apartments .........................................................................................................................................
241(a) Supplemental Loans for Apartments/coop without LIHTC ......................................................................................................
241(a) Supplemental Loans for Apartments/coop with LIHTC ...........................................................................................................
50
45
50
45
80
45
45
45
50
45
50
*45
*45
45
45
80
80
45
FHA Health Care Facilities
232 NC/SR Health Care Facilities without LIHTC ...............................................................................................................................
232 NC/SR—Assisted Living Facilities with LIHTC ............................................................................................................................
231 Elderly Housing without LIHTC ....................................................................................................................................................
231 Elderly Housing 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 Health Care Facilities without LIHTC .............................................................................................................
223(a)(7) Refinance of Health Care Facilities with LIHTC ..................................................................................................................
223d Operating Loss Loan for Health Care Facilities .........................................................................................................................
241(a) Supplemental Loans for Health Care Facilities without LIHTC ...............................................................................................
241(a) Supplemental Loans for Health Care Facilities with LIHTC ....................................................................................................
57
45
50
45
*50
*45
50
45
80
57
45
FHA Hospitals
242 Hospitals .......................................................................................................................................................................................
223(a)(7) Refinance of Existing FHA-insured Hospital .......................................................................................................................
241(a) Supplemental Loans for Hospitals ...........................................................................................................................................
50
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 a 232/223(f) health care facility remains at 100 basis points.
Dated: September 15, 2008.
Brian D. Montgomery,
Assistant Secretary for Housing—Federal
Housing Commissioner.
[FR Doc. E8–22333 Filed 9–23–08; 8:45 am]
BILLING CODE 4210–67–P
DEPARTMENT OF THE INTERIOR
Office of the Secretary
Privacy Act of 1974, As Amended;
Addition of a New System of Records
Office of the Secretary.
Proposed addition of a new
Privacy Act system of records.
AGENCY:
jlentini on PROD1PC65 with NOTICES
ACTION:
SUMMARY: In accordance with the
Privacy Act of 1974 (5 U.S.C. 552a), the
Department of the Interior is issuing
public notice of its intent to add a new
Department-wide Privacy Act system of
records, DOI–02, ‘‘Interior Uniform
Relocation Assistance Program
Records.’’
VerDate Aug<31>2005
17:26 Sep 23, 2008
Jkt 214001
Comments must be received by
November 3, 2008.
DATES:
Any persons interested in
commenting on this proposed addition
of a new Privacy Act system of records
may do so by submitting comments in
writing to the Office of the Secretary
Acting Privacy Act Officer, Linda
Thomas, U.S. Department of the
Interior, MS–116 SIB, 1951 Constitution
Avenue, NW., Washington, DC 20240,
or by e-mail to Linda_Thomas@nbc.gov.
FOR FURTHER INFORMATION CONTACT:
Mary Heying, Office of Acquisition and
Property Management, by phone at 202–
208–4080, by fax at 202–219–4244, by
e-mail at Mary_Heying@ios.doi.gov, or
by mail at U.S. Department of the
Interior, Office of Acquisition and
Property Management, MS 2607 MIB,
1849 C Street, NW., Washington, DC
20240.
ADDRESSES:
The
Interior Uniform Relocation Assistance
Program Records system will contain
SUPPLEMENTARY INFORMATION:
PO 00000
Frm 00105
Fmt 4703
Sfmt 4703
information from individuals and
businesses displaced as a result of
Federal real estate acquisition for the
purpose of determining the amount of
their relocation benefit. The system will
contain information about the
individual claimant, residential moving
costs, replacement housing payments,
down payments and incidental
expenses for residential relocations; and
information about business claimants,
nonresidential moving costs,
nonresidential direct loss of personal
property; and relocation and
reestablishment expenses for
nonresidential relocations. For
residential relocations, the information
collected will include the name, social
security number, address, and phone
number of the claimant, occupancy
status, dwelling type, number of rooms,
names, gender, relationship and age of
all household members, relocated
address and date of relocation,
replacement housing or rental payments
including moving cost, storage costs,
E:\FR\FM\24SEN1.SGM
24SEN1
]]>Agencies
[Federal Register Volume 73, Number 186 (Wednesday, September 24, 2008)]
[Notices]
[Pages 55124-55125]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E8-22333]
=======================================================================
-----------------------------------------------------------------------
DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT
[Docket No. FR-5231-N-01]
Multifamily Mortgage Insurance Premiums (MIPs) and Credit Subsidy
Obligations for Fiscal Year (FY) 2009
AGENCY: Office of the Assistant Secretary for Housing--Federal Housing
Commissioner, HUD.
ACTION: Notice.
-----------------------------------------------------------------------
SUMMARY: This notice announces the mortgage insurance premiums (MIPs)
for Federal Housing Administration (FHA) multifamily mortgage insurance
programs that have commitments to be issued or reissued in Fiscal Year
(FY) 2009. The FY2009 MIPs are the same as in FY2008. This annual
notice includes for the first time two additional MIPs for the hospital
mortgage insurance programs: (1) Supplemental loans for hospitals; and
(2) refinancing for existing FHA-insured hospitals. These are not new
MIPs and the amounts charged for them will be the same as in previous
years.
In addition to announcing MIPs for FY2009, this notice announces
that credit subsidy obligations are required for firm commitments
issued or reissued for FHA's three positive credit subsidy programs:
(1) Section 221(d)(3) New Construction/Substantial Rehabilitation for
Nonprofit/Cooperatives; (2) Section 241(a) Supplemental Loans for
apartments only; and (3) Section 223(d) Operating Loss Loans. These
obligations are not new for FY2009.
DATES: Effective Date: October 1, 2008.
FOR FURTHER INFORMATION CONTACT: Eric Stevenson, Deputy 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 multifamily housing mortgage insurance regulation at 24 CFR
207.254 provides as follows:
Notice of future premium changes will be published in the
Federal Register. The Department will propose MIP changes for
multifamily mortgage insurance programs and provide a 30-day public
comment period for the purpose of accepting comments on whether the
proposed changes are appropriate.
Under this regulation, HUD is required to publish a notice for
public comment only when there are premium ``changes.'' Since HUD is
not seeking to implement any premium changes for FY2009 for the
multifamily mortgage insurance programs listed in this notice, a notice
and public comment is not required. HUD is merely providing this notice
to ensure that there is clarity as to the multifamily insured housing
MIPs for FY2009, and is not seeking public comments.
II. Low-Income Housing Tax Credits
MIP rates for many multifamily FHA mortgage programs depend on
whether or not the sponsor is combining low-income housing tax credits
with the FHA-insured loan. 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, a sponsor is required to
submit a certification regarding governmental assistance, including any
low-income housing tax credits, with mortgage insurance applications.
III. MIPs for Multifamily Programs for FY 2009
This notice announces the MIPs that will be in effect during FY2009
for the multifamily housing programs listed in this notice and for
FHA's hospital mortgage insurance program authorized under section 242
of the National Housing Act, 12 U.S.C. 1715z-7. Section 241(a)
Supplemental Loans and Section 223(a)(7) Refinancing of existing FHA-
insured mortgages under Section 242 Hospital Program, which is overseen
by FHA's Office of Insured Health Care Facilities, have been added for
the first time to the MIP table in this annual notice. No changes in
the basis points charged on multifamily loan and hospital programs are
proposed for FY2009. The effective date for these mortgage insurance
premiums is October 1, 2008.
Credit Subsidy
This notice also announces that a credit subsidy obligation
continues to be required for the three sections of the National Housing
Act listed below. However, if the mortgagor's equity is produced from
low-income housing tax credits (LIHTC) for Sections 221(d)(3) or
241(a), a credit subsidy obligation will not be required. For the loans
requiring a credit subsidy obligation, the program office inserts a
special clause into the firm commitment or an invitation pertaining to
a Site Appraisal and Market Analysis (SAMA)/Feasibility/Multifamily
Accelerated Processing (MAP) letter. The clause states that the firm
commitment is contingent upon availability of funds.
Section 221(d)(3) New Construction/Substantial
Rehabilitation for Nonprofit/Cooperatives.
Section 223(d) Operating Loss Loans for both apartments
and health care facilities.
Section 241(a) Supplemental Loans for additions or
improvements for apartments only.
The mortgage insurance premiums to be in effect for FHA firm
commitments issued or reissued in FY2009 are shown in the table below:
[[Page 55125]]
Fiscal Year 2009 MIP Rates
[Multifamily Loans and Hospital Programs]
------------------------------------------------------------------------
Basis points
------------------------------------------------------------------------
FHA Apartments
207 Multifamily Housing New Construction/Sub Rehab 50
without LIHTC..........................................
207 Multifamily Housing New Construction/Sub Rehab with 45
LIHTC..................................................
207 Manufactured Home Parks without LIHTC............... 50
207 Manufactured Home Parks with LIHTC.................. 45
221(d)(3) New Construction/Substantial Rehabilitation 80
(NC/SR) for Nonprofit/Cooperative Mortgagor without
LIHTC..................................................
221(d)(3) Limited dividend with LIHTC................... 45
221(d)(4) NC/SR without LIHTC........................... 45
221(d)(4) NC/SR with LIHTC.............................. 45
220 Urban Renewal Housing without LIHTC................. 50
220 Urban Renewal Housing with LIHTC.................... 45
213 Cooperative......................................... 50
207/223(f) Refinance or Purchase for Apartments without *45
LIHTC..................................................
207/223(f) Refinance or Purchase for Apartments with *45
LIHTC..................................................
223(a)(7) Refinance of Apartments without LIHTC......... 45
223(a)(7) Refinance of Apartments with LIHTC............ 45
223d Operating Loss Loan for Apartments................. 80
241(a) Supplemental Loans for Apartments/coop without 80
LIHTC..................................................
241(a) Supplemental Loans for Apartments/coop with LIHTC 45
FHA Health Care Facilities
232 NC/SR Health Care Facilities without LIHTC.......... 57
232 NC/SR--Assisted Living Facilities with LIHTC........ 45
231 Elderly Housing without LIHTC....................... 50
231 Elderly Housing with LIHTC.......................... 45
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 Health Care Facilities without 50
LIHTC..................................................
223(a)(7) Refinance of Health Care Facilities with LIHTC 45
223d Operating Loss Loan for Health Care Facilities..... 80
241(a) Supplemental Loans for Health Care Facilities 57
without LIHTC..........................................
241(a) Supplemental Loans for Health Care Facilities 45
with LIHTC.............................................
FHA Hospitals
242 Hospitals........................................... 50
223(a)(7) Refinance of Existing FHA-insured Hospital.... 50
241(a) Supplemental Loans for Hospitals................. 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 a 232/223(f) health care facility
remains at 100 basis points.
Dated: September 15, 2008.
Brian D. Montgomery,
Assistant Secretary for Housing--Federal Housing Commissioner.
[FR Doc. E8-22333 Filed 9-23-08; 8:45 am]
BILLING CODE 4210-67-P
