Annual Indexing of Basic Statutory Mortgage Limits for Multifamily Housing Programs, 5800 [2010-2361]

Download as PDF 5800 Federal Register / Vol. 75, No. 23 / Thursday, February 4, 2010 / Notices DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT [Docket No. FR–5388–N–01] Annual Indexing of Basic Statutory Mortgage Limits for Multifamily Housing Programs srobinson on DSKHWCL6B1PROD with NOTICES AGENCY: Office of the Assistant Secretary for Housing—Federal Housing Commissioner, HUD. ACTION: Notice. SUMMARY: In accordance with Section 206A of the National Housing Act, HUD has adjusted the Basic Statutory Mortgage Limits for Multifamily Housing Programs for calendar year 2010. DATES: Effective Date: January 1, 2010. FOR FURTHER INFORMATION CONTACT: Joseph A. Sealey, Director, Technical Support Division, Office of Multifamily Development, Department of Housing and Urban Development, 451 Seventh Street, SW., Washington, DC 20410– 8000, telephone (202) 402–2559 (this is not a toll-free number). Hearing- or speech-impaired individuals may access this number through TTY by calling the toll-free Federal Information Relay Service at (800) 877–8339. SUPPLEMENTARY INFORMATION: The FHA Downpayment Simplification Act of 2002 (Pub. L. 107–326, approved December 4, 2002) amended the National Housing Act by adding a new Section 206A (12 U.S.C. 1712a). Under Section 206A, the following are affected: (1) Section 207(c)(3)(A) (12 U.S.C. 1713(c)(3)(A)); (2) Section 213(b)(2)(A) (12 U.S.C. 1715e(b)(2)(A)); (3) Section 220(d)(3)(B)(iii)(I) (12 U.S.C. 1715k(d)(3)(B)(iii)(I)); (4) Section 221(d)(3)(ii)(I) (12 U.S.C. 1715l(d)(3)(ii)(I)); (5) Section 221(d)(4)(ii)(I) (12 U.S.C. 1715l(d)(4)(ii)(I)); (6) Section 231(c)(2)(A) (12 U.S.C. 1715v(c)(2)(A)); and (7) Section 234(e)(3)(A) (12 U.S.C. 1715y(e)(3)(A)). The dollar amounts in these sections, which are collectively referred to as the ‘Dollar Amounts,’ shall be adjusted annually (commencing in 2004) on the effective date of the Federal Reserve Board’s adjustment of the $400 figure in the Home Ownership and Equity Protection Act of 1994 (HOEPA) (Pub. L. 103–325, approved September 23, 1994). The adjustment of the Dollar Amounts shall be calculated using the percentage change in the Consumer Price Index for All Urban Consumers (CPI–U) as applied by the Federal Reserve Board for purposes of the above-described HOEPA adjustment. VerDate Nov<24>2008 17:31 Feb 03, 2010 Jkt 220001 HUD has been notified of the percentage change in the CPI–U used for the HOEPA adjustment and the effective date of the HOEPA adjustment. The percentage change in the CPI–U is 0.9926 percent (1.00–.0074) and the effective date of the HOEPA adjustment is January 1, 2010. The Dollar Amounts have been adjusted correspondingly and have an effective date of January 1, 2010. The adjusted Dollar Amounts for calendar year 2010 are shown below: Basic Statutory Mortgage Limits for Calendar Year 2010 Multifamily Loan Program ■ Section 207—Multifamily Housing ■ Section 207 pursuant to Section 223(f)—Purchase or refinance housing ■ Section 220—Housing in urban renewal areas Bedrooms 0 ................ 1 ................ 2 ................ 3 ................ 4+ .............. Non-Elevator Elevator $45,088 49,945 59,657 73,532 83,246 $52,027 58,270 71,451 89,488 101,184 ■ Section 213—Cooperatives Bedrooms 0 ................ 1 ................ 2 ................ 3 ................ 4+ .............. Non-Elevator $48,863 56,338 67,946 86,971 96,891 Elevator $52,027 58,946 71,677 92,727 101,787 ■ Section 221(d)(3)—Moderate income housing ■ Section 234—Condominium housing Bedrooms 0 ................ 1 ................ 2 ................ 3 ................ 4+ .............. Non-Elevator $49,860 57,488 69,332 88,747 98,867 Elevator $52,470 60,148 73,140 94,619 103,863 ■ Section 221(d)(4)—Moderate income housing Bedrooms 0 ................ 1 ................ 2 ................ 3 ................ 4+ .............. Non-Elevator $44,871 50,935 61,567 77,277 87,569 Elevator $48,470 55,565 67,566 87,408 95,948 ■ Section 231—Housing for the Elderly Bedrooms 0 ................ 1 ................ PO 00000 Frm 00045 Non-Elevator $42,662 47,692 Fmt 4703 Sfmt 4703 Elevator $48,470 55,565 Bedrooms Non-Elevator 2 ................ 3 ................ 4+ .............. Elevator 56,951 68,537 80,576 67,566 87,408 95,948 ■ Section 207—Manufactured Home Parks Per Space $20,700 Dated: January 26, 2010. David H. Stevens, Assistant Secretary for Housing—Federal Housing Commissioner. [FR Doc. 2010–2361 Filed 2–3–10; 8:45 am] BILLING CODE 4210–67–P DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT [Docket No. FR–5374–N–05] Buy American Exceptions Under the American Recovery and Reinvestment Act of 2009 AGENCY: Office of the Assistant Secretary for Public and Indian Housing, HUD. ACTION: Notice. SUMMARY: In accordance with the American Recovery and Reinvestment Act of 2009 (Pub. L. 111–05, approved February 17, 2009) (Recovery Act), and implementing guidance of the Office of Management and Budget (OMB), this notice advises that certain exceptions to the Buy American requirement of the Recovery Act have been determined applicable for work using Capital Fund Recovery Formula and Competition (CFRFC) grant funds. Specifically, a waiver was granted to the Housing Authority of Portland, Oregon for the installation of continuous venting range hoods as a part of the modernization of five public housing projects (Demar Downs, Fir Acres, Stark Manor, Townhouse Terrace and Celilo Court). FOR FURTHER INFORMATION CONTACT: Dominique G. Blom, Deputy Assistant Secretary for Public Housing Investments, Office of Public Housing Investments, Office of Public and Indian Housing, Department of Housing and Urban Development, 451 7th Street, SW., Room 4210, Washington, DC 20410–4000, telephone number 202– 402–8500 (this is not a toll-free number). Persons with hearing- or speech-impairments may access this number through TTY by calling the tollfree Federal Information Relay Service at 800–877–8339. SUPPLEMENTARY INFORMATION: Section 1605(a) of the Recovery Act provides that none of the funds appropriated or made available by the Recovery Act may E:\FR\FM\04FEN1.SGM 04FEN1

Agencies

[Federal Register Volume 75, Number 23 (Thursday, February 4, 2010)]
[Notices]
[Page 5800]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2010-2361]



[[Page 5800]]

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DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT

[Docket No. FR-5388-N-01]


Annual Indexing of Basic Statutory Mortgage Limits for 
Multifamily Housing Programs

AGENCY: Office of the Assistant Secretary for Housing--Federal Housing 
Commissioner, HUD.

ACTION: Notice.

-----------------------------------------------------------------------

SUMMARY: In accordance with Section 206A of the National Housing Act, 
HUD has adjusted the Basic Statutory Mortgage Limits for Multifamily 
Housing Programs for calendar year 2010.

DATES: Effective Date: January 1, 2010.

FOR FURTHER INFORMATION CONTACT: Joseph A. Sealey, Director, Technical 
Support Division, Office of Multifamily Development, Department of 
Housing and Urban Development, 451 Seventh Street, SW., Washington, DC 
20410-8000, telephone (202) 402-2559 (this is not a toll-free number). 
Hearing- or speech-impaired individuals may access this number through 
TTY by calling the toll-free Federal Information Relay Service at (800) 
877-8339.

SUPPLEMENTARY INFORMATION: The FHA Downpayment Simplification Act of 
2002 (Pub. L. 107-326, approved December 4, 2002) amended the National 
Housing Act by adding a new Section 206A (12 U.S.C. 1712a). Under 
Section 206A, the following are affected:
    (1) Section 207(c)(3)(A) (12 U.S.C. 1713(c)(3)(A));
    (2) Section 213(b)(2)(A) (12 U.S.C. 1715e(b)(2)(A));
    (3) Section 220(d)(3)(B)(iii)(I) (12 U.S.C. 
1715k(d)(3)(B)(iii)(I));
    (4) Section 221(d)(3)(ii)(I) (12 U.S.C. 1715l(d)(3)(ii)(I));
    (5) Section 221(d)(4)(ii)(I) (12 U.S.C. 1715l(d)(4)(ii)(I));
    (6) Section 231(c)(2)(A) (12 U.S.C. 1715v(c)(2)(A)); and
    (7) Section 234(e)(3)(A) (12 U.S.C. 1715y(e)(3)(A)).
    The dollar amounts in these sections, which are collectively 
referred to as the `Dollar Amounts,' shall be adjusted annually 
(commencing in 2004) on the effective date of the Federal Reserve 
Board's adjustment of the $400 figure in the Home Ownership and Equity 
Protection Act of 1994 (HOEPA) (Pub. L. 103-325, approved September 23, 
1994). The adjustment of the Dollar Amounts shall be calculated using 
the percentage change in the Consumer Price Index for All Urban 
Consumers (CPI-U) as applied by the Federal Reserve Board for purposes 
of the above-described HOEPA adjustment.
    HUD has been notified of the percentage change in the CPI-U used 
for the HOEPA adjustment and the effective date of the HOEPA 
adjustment. The percentage change in the CPI-U is 0.9926 percent 
(1.00-.0074) and the effective date of the HOEPA adjustment is January 
1, 2010. The Dollar Amounts have been adjusted correspondingly and have 
an effective date of January 1, 2010.
    The adjusted Dollar Amounts for calendar year 2010 are shown below:

Basic Statutory Mortgage Limits for Calendar Year 2010

Multifamily Loan Program

    [squf] Section 207--Multifamily Housing
    [squf] Section 207 pursuant to Section 223(f)--Purchase or 
refinance housing
    [squf] Section 220--Housing in urban renewal areas

------------------------------------------------------------------------
                Bedrooms                   Non-Elevator      Elevator
------------------------------------------------------------------------
0.......................................         $45,088         $52,027
1.......................................          49,945          58,270
2.......................................          59,657          71,451
3.......................................          73,532          89,488
4+......................................          83,246         101,184
------------------------------------------------------------------------

    [squf] Section 213--Cooperatives

------------------------------------------------------------------------
                Bedrooms                   Non-Elevator      Elevator
------------------------------------------------------------------------
0.......................................         $48,863         $52,027
1.......................................          56,338          58,946
2.......................................          67,946          71,677
3.......................................          86,971          92,727
4+......................................          96,891         101,787
------------------------------------------------------------------------

    [squf] Section 221(d)(3)--Moderate income housing
    [squf] Section 234--Condominium housing

------------------------------------------------------------------------
                Bedrooms                   Non-Elevator      Elevator
------------------------------------------------------------------------
0.......................................         $49,860         $52,470
1.......................................          57,488          60,148
2.......................................          69,332          73,140
3.......................................          88,747          94,619
4+......................................          98,867         103,863
------------------------------------------------------------------------

    [squf] Section 221(d)(4)--Moderate income housing

------------------------------------------------------------------------
                Bedrooms                   Non-Elevator      Elevator
------------------------------------------------------------------------
0.......................................         $44,871         $48,470
1.......................................          50,935          55,565
2.......................................          61,567          67,566
3.......................................          77,277          87,408
4+......................................          87,569          95,948
------------------------------------------------------------------------

    [squf] Section 231--Housing for the Elderly

------------------------------------------------------------------------
                Bedrooms                   Non-Elevator      Elevator
------------------------------------------------------------------------
0.......................................         $42,662         $48,470
1.......................................          47,692          55,565
2.......................................          56,951          67,566
3.......................................          68,537          87,408
4+......................................          80,576          95,948
------------------------------------------------------------------------

    [squf] Section 207--Manufactured Home Parks

Per Space $20,700

    Dated: January 26, 2010.
David H. Stevens,
Assistant Secretary for Housing--Federal Housing Commissioner.
[FR Doc. 2010-2361 Filed 2-3-10; 8:45 am]
BILLING CODE 4210-67-P