Annual Indexing of Basic Statutory Mortgage Limits for Multifamily Housing Programs, 34460-34461 [2020-12084]

Download as PDF 34460 Federal Register / Vol. 85, No. 108 / Thursday, June 4, 2020 / Notices Interested persons are invited to submit comments regarding this proposal. Comments should refer to the proposal by name and/or OMB Control Number and should be sent to: Colette Pollard, Reports Management Officer, QDAM, Department of Housing and Urban Development, 451 7th Street SW, Room 4176, Washington, DC 20410–5000; telephone 202–402–3400 (this is not a toll-free number) or email at Colette.Pollard@hud.gov for a copy of the proposed forms or other available information. Persons with hearing or speech impairments may access this number through TTY by calling the tollfree Federal Relay Service at (800) 877– 8339. FOR FURTHER INFORMATION CONTACT: Colette Pollard, Reports Management Officer, QDAM, Department of Housing and Urban Development, 451 7th Street SW, Washington, DC 20410; email Colette Pollard at Colette.Pollard@ hud.gov or telephone 202–402–3400. This is not a toll-free number. Persons with hearing or speech impairments may access this number through TTY by calling the toll-free Federal Relay Service at (800) 877–8339. SUPPLEMENTARY INFORMATION: This notice informs the public that HUD is seeking approval from OMB for the information collection described in Section A. ADDRESSES: khammond on DSKJM1Z7X2PROD with NOTICES A. Overview of Information Collection Title of Information Collection: Housing Finance Agency Risk-Sharing Program. OMB Approval Number: 2502–0500. OMB Expiration Date: 4/30/2020. Type of Request: Revision of a currently approved collection. Form Numbers: HUD–94192, HUD– 94193, HUD–94194, HUD–94195, HUD– 94196. Description of the need for the information and proposed use: Section 542 of the Housing and Community Development Act of 1992 directs the Secretary to implement risk sharing with State and local housing finance agencies (HFAs). Under this program, HUD provides full mortgage insurance on multifamily housing projects whose loans are underwritten, processed, and serviced by HFAs. The HFAs will reimburse HUD a certain percentage of any loss under an insured loan depending upon the level of risk the HFA contracts to assume. Respondents (i.e., affected public): Business and other for profit. Estimated Number of Respondents: 6,530. Estimated Number of Responses: 22,374. VerDate Sep<11>2014 17:24 Jun 03, 2020 Jkt 250001 Frequency of Response: Annually, semi-annually, and on-occasion. Average Hours per Response: 1 hour to 40 hours. Total Estimated Burden: 43,023. B. Solicitation of Public Comment This notice is soliciting comments from members of the public and affected parties concerning the collection of information described in Section A on the following: (1) Whether the proposed collection of information is necessary for the proper performance of the functions of the agency, including whether the information will have practical utility; (2) The accuracy of the agency’s estimate of the burden of the proposed collection of information; (3) Ways to enhance the quality, utility, and clarity of the information to be collected; and (4) Ways to minimize the burden of the collection of information on those who are to respond; including through the use of appropriate automated collection techniques or other forms of information technology, e.g., permitting electronic submission of responses. HUD encourages interested parties to submit comment in response to these questions. Authority: Section 3507 of the Paperwork Reduction Act of 1995, 44 U.S.C. Chapter 35. The General Deputy Assistant Secretary for Housing, John L. Garvin, having reviewed and approved this document, is delegating the authority to electronically sign this document to submitter, Nacheshia Foxx, who is the Federal Register Liaison for HUD, for purposes of publication in the Federal Register. Mortgage Limits for Multifamily Housing Programs for Calendar Year 2020. DATES: Applicable Date: January 1, 2020. FOR FURTHER INFORMATION CONTACT: Patricia M. Burke, Acting Director, Office of Multifamily Development, Department of Housing and Urban Development, 451 Seventh Street SW, Washington, DC 20410–8000, telephone (202) 402–5693 (this is not a toll-free number). Hearing or speech-impaired individuals may access this number through TTY by calling Federal Relay Service at (800) 877–8339 (this is a tollfree number). SUPPLEMENTARY INFORMATION: The FHA Down Payment 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: I. Section 207(c)(3)(A) (12 U.S.C. 1713(c)(3)(A)); II. Section 213(b)(2)(A) (12 U.S.C. 1715e(b)(2)(A)); III. Section 220(d)(3)(B)(iii)(I) (12 U.S.C. 1715k(d)(3)(B)(iii)(I)); IV. Section 221(d)(4)(ii)(I) (12 U.S.C. 1715l(d)(4)(ii)(I)); V. Section 231(c)(2)(A) (12 U.S.C. 1715v(c)(2)(A)); and VI. Section 234(e)(3)(A) (12 U.S.C. 1715y(e)(3)(A)). The Dollar Amounts in these sections are the base per unit statutory limits for Federal Housing Administration’s (FHA) multifamily mortgage programs collectively referred to as the ‘Dollar Amounts.’ They are adjusted annually (commencing in 2004) on the effective date of the Consumer Financial Protection Bureau’s (CFPB’s) adjustment Dated: June 1, 2020. of the $400 figure in the Home Nacheshia Foxx, Federal Liaison for the Department of Housing Ownership and Equity Protection Act of 1994 (HOEPA) (Pub. L. 103–325, and Urban Development. approved September 23, 1994). The [FR Doc. 2020–12076 Filed 6–3–20; 8:45 am] adjustment of the Dollar Amounts shall BILLING CODE 4210–67–P be calculated using the percentage change in the Consumer Price Index for All Urban Consumers (CPI–U) as DEPARTMENT OF HOUSING AND applied by the CFPB for purposes of the URBAN DEVELOPMENT above-described HOEPA adjustment. [Docket No. FR–6212–N–01] The percentage change in the CPI–U used for the HOEPA adjustment is 2.3 Annual Indexing of Basic Statutory percent and the effective date of the Mortgage Limits for Multifamily HOEPA adjustment is January 1, 2020. Housing Programs The Dollar Amounts under Section 206A have been adjusted AGENCY: Office of the Assistant Secretary for Housing—Federal Housing correspondingly and have an effective date of January 1, 2020. Commissioner, HUD. These revised statutory limits, high ACTION: Notice. cost areas and per unit cost thresholds for substantial rehabilitation may be SUMMARY: In accordance with Section 206A of the National Housing Act, HUD applied to FHA multifamily mortgage insurance applications submitted or has adjusted the Basic Statutory PO 00000 Frm 00064 Fmt 4703 Sfmt 4703 E:\FR\FM\04JNN1.SGM 04JNN1 Federal Register / Vol. 85, No. 108 / Thursday, June 4, 2020 / Notices amended on or after January 1, 2020, so long as the loan has not been initially endorsed. The adjusted Dollar Amounts for Calendar Year 2020 are shown below: Basic Statutory Mortgage Limits for Calendar Year 2020 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 $54,892 60,807 72,633 89,525 101,352 Section 213—Cooperatives Bedrooms 0 ................ 1 ................ 2 ................ 3 ................ 4+ .............. Non-elevator $59,488 68,592 82,723 105,887 117,966 base amount of $15,000 per unit to define substantial rehabilitation for FHA insured loan programs. Section 5.1.D.2 of the MAP guide requires that this base amount be adjusted periodically based on the percentage change published by the CFPB or other inflation cost index published by HUD. Applying the HOEPA adjustment to the base amount, the 2020 base amount per dwelling unit to determine substantial rehabilitation for FHA insured loan programs is $16,299. Environmental Impact This issuance establishes mortgage and cost limits that do not constitute a development decision affecting the $64,026 physical condition of specific project 70,944 areas or building sites. Accordingly, 86,990 under 24 CFR 50.19(c)(6), this notice is 108,951 123,193 categorically excluded from environmental review under the National Environmental Policy Act of 1969 (42 U.S.C. 4321). Elevator Elevator $63,342 71,764 87,265 112,895 123,927 Dated: June 1, 2020. John Garvin, General Deputy Assistant Secretary for Housing. [FR Doc. 2020–12084 Filed 6–3–20; 8:45 am] BILLING CODE 4210–67–P 0 ................ 1 ................ 2 ................ 3 ................ 4+ .............. Non-elevator $60,702 69,991 84,411 108,050 120,372 DEPARTMENT OF THE INTERIOR Elevator $63,881 73,230 89,049 115,201 126,454 Fish and Wildlife Service 0 ................ 1 ................ 2 ................ 3 ................ 4+ .............. Non-elevator $54,628 62,013 74,959 94,085 106,314 Endangered and Threatened Species; Incidental Take Permit Application and Habitat Conservation Plan for the Proposed Rooney Ranch Wind Elevator Repowering Project, Alameda County, California; Availability of Draft $59,010 Environmental Assessment; 67,649 Correction 82,262 106,418 116,817 Section 231—Housing for the Elderly Bedrooms khammond on DSKJM1Z7X2PROD with NOTICES 0 ................ 1 ................ 2 ................ 3 ................ 4+ .............. Non-elevator $51,937 58,063 69,336 83,443 98,101 Elevator $59,010 67,649 82,262 106,418 116,817 Section 207—Manufactured Home Parks Per Space—$25,200 Per Unit Limit for Substantial Rehabilitation for Calendar Year 2020 The 2016 Multifamily Accelerated Processing (MAP) Guide established a VerDate Sep<11>2014 17:24 Jun 03, 2020 Jkt 250001 Correction In notice document 2019–26478, appearing at 85 FR 32044 in the issue of Wednesday, May 28, 2020, make the following correction: On page 32044, the DATES caption should read as follows: DATES: To ensure consideration, please send your written comments by June 29, 2020. Sara Prigan, Federal Register Liaison. [FR Doc. 2020–12088 Filed 6–3–20; 8:45 am] BILLING CODE 4333–15–P DEPARTMENT OF THE INTERIOR Fish and Wildlife Service [Docket No. FWS–R3–ES–2020–0046; FXES11140300000–201–FF03E00000] Draft Environmental Assessment and Draft Habitat Conservation Plan; Receipt of an Application for an Incidental Take Permit, Hog Creek Wind Project, Hardin County, Ohio Fish and Wildlife Service, Interior. ACTION: Notice of availability; request for comments. We, the U.S. Fish and Wildlife Service, have received an application from Hog Creek Wind Project, LLC (the applicant), for an incidental take permit (ITP) under the Endangered Species Act of 1973, as amended, for the Hog Creek Wind Farm Project. If approved, the ITP would authorize the incidental take of the Indiana bat and the northern long-eared bat for a 30-year term. The applicant has prepared a draft habitat conservation plan, which is available for public review. We also announce the availability of a draft environmental assessment, which has been prepared in accordance with the requirements of the National Environmental Policy Act. We request public comment on the application and associated documents. DATES: We will accept comments received or postmarked on or before July 6, 2020. ADDRESSES: Obtaining documents: Electronic copies of the documents this notice announces will be available online in Docket No. FWS–R3–ES– 2020–0046 at http:// www.regulations.gov. Public comments will also be available online at http:// www.regulations.gov. SUMMARY: [Docket No. FWS–R8–ES–2019–0116; FXES11140900000–190–FF08E00000] Section 221(d)(4)—Moderate Income Housing Bedrooms deaf, please call the Federal Information Relay Service at 800–877–8339. SUPPLEMENTARY INFORMATION: AGENCY: Section 234—Condominium Housing Bedrooms 34461 Fish and Wildlife Service, Interior. ACTION: Notice of receipt of permit application; request for comments; correction. AGENCY: We, the U.S. Fish and Wildlife Service, published a document in the May 28, 2020, Federal Register that announced the availability of a proposed habitat conservation plan and a draft environmental impact statement for public comment. The public comment period end date in the DATES section of the notice was incorrect. The correct date is June 29, 2020. FOR FURTHER INFORMATION CONTACT: Claudia Funari, 916–414–6600. If you use a telecommunications device for the SUMMARY: PO 00000 Frm 00065 Fmt 4703 Sfmt 4703 E:\FR\FM\04JNN1.SGM 04JNN1

Agencies

[Federal Register Volume 85, Number 108 (Thursday, June 4, 2020)]
[Notices]
[Pages 34460-34461]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-12084]


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DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT

[Docket No. FR-6212-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 2020.

DATES: Applicable Date: January 1, 2020.

FOR FURTHER INFORMATION CONTACT: Patricia M. Burke, Acting Director, 
Office of Multifamily Development, Department of Housing and Urban 
Development, 451 Seventh Street SW, Washington, DC 20410-8000, 
telephone (202) 402-5693 (this is not a toll-free number). Hearing or 
speech-impaired individuals may access this number through TTY by 
calling Federal Relay Service at (800) 877-8339 (this is a toll-free 
number).

SUPPLEMENTARY INFORMATION: The FHA Down Payment 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:

    I. Section 207(c)(3)(A) (12 U.S.C. 1713(c)(3)(A));
    II. Section 213(b)(2)(A) (12 U.S.C. 1715e(b)(2)(A));
    III. Section 220(d)(3)(B)(iii)(I) (12 U.S.C. 
1715k(d)(3)(B)(iii)(I));
    IV. Section 221(d)(4)(ii)(I) (12 U.S.C. 1715l(d)(4)(ii)(I));
    V. Section 231(c)(2)(A) (12 U.S.C. 1715v(c)(2)(A)); and
    VI. Section 234(e)(3)(A) (12 U.S.C. 1715y(e)(3)(A)).

    The Dollar Amounts in these sections are the base per unit 
statutory limits for Federal Housing Administration's (FHA) multifamily 
mortgage programs collectively referred to as the `Dollar Amounts.' 
They are adjusted annually (commencing in 2004) on the effective date 
of the Consumer Financial Protection Bureau's (CFPB'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 CFPB for purposes of the above-described HOEPA adjustment.
    The percentage change in the CPI-U used for the HOEPA adjustment is 
2.3 percent and the effective date of the HOEPA adjustment is January 
1, 2020. The Dollar Amounts under Section 206A have been adjusted 
correspondingly and have an effective date of January 1, 2020.
    These revised statutory limits, high cost areas and per unit cost 
thresholds for substantial rehabilitation may be applied to FHA 
multifamily mortgage insurance applications submitted or

[[Page 34461]]

amended on or after January 1, 2020, so long as the loan has not been 
initially endorsed.
    The adjusted Dollar Amounts for Calendar Year 2020 are shown below:

Basic Statutory Mortgage Limits for Calendar Year 2020

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                   Non-elevator      Elevator
------------------------------------------------------------------------
0.......................................         $54,892         $64,026
1.......................................          60,807          70,944
2.......................................          72,633          86,990
3.......................................          89,525         108,951
4+......................................         101,352         123,193
------------------------------------------------------------------------

Section 213--Cooperatives

------------------------------------------------------------------------
                Bedrooms                   Non-elevator      Elevator
------------------------------------------------------------------------
0.......................................         $59,488         $63,342
1.......................................          68,592          71,764
2.......................................          82,723          87,265
3.......................................         105,887         112,895
4+......................................         117,966         123,927
------------------------------------------------------------------------

Section 234--Condominium Housing

------------------------------------------------------------------------
                Bedrooms                   Non-elevator      Elevator
------------------------------------------------------------------------
0.......................................         $60,702         $63,881
1.......................................          69,991          73,230
2.......................................          84,411          89,049
3.......................................         108,050         115,201
4+......................................         120,372         126,454
------------------------------------------------------------------------

Section 221(d)(4)--Moderate Income Housing

------------------------------------------------------------------------
                Bedrooms                   Non-elevator      Elevator
------------------------------------------------------------------------
0.......................................         $54,628         $59,010
1.......................................          62,013          67,649
2.......................................          74,959          82,262
3.......................................          94,085         106,418
4+......................................         106,314         116,817
------------------------------------------------------------------------

Section 231--Housing for the Elderly

------------------------------------------------------------------------
                Bedrooms                   Non-elevator      Elevator
------------------------------------------------------------------------
0.......................................         $51,937         $59,010
1.......................................          58,063          67,649
2.......................................          69,336          82,262
3.......................................          83,443         106,418
4+......................................          98,101         116,817
------------------------------------------------------------------------

Section 207--Manufactured Home Parks
Per Space--$25,200

Per Unit Limit for Substantial Rehabilitation for Calendar Year 2020

    The 2016 Multifamily Accelerated Processing (MAP) Guide established 
a base amount of $15,000 per unit to define substantial rehabilitation 
for FHA insured loan programs. Section 5.1.D.2 of the MAP guide 
requires that this base amount be adjusted periodically based on the 
percentage change published by the CFPB or other inflation cost index 
published by HUD. Applying the HOEPA adjustment to the base amount, the 
2020 base amount per dwelling unit to determine substantial 
rehabilitation for FHA insured loan programs is $16,299.

Environmental Impact

    This issuance establishes mortgage and cost limits that do not 
constitute a development decision affecting the physical condition of 
specific project areas or building sites. Accordingly, under 24 CFR 
50.19(c)(6), this notice is categorically excluded from environmental 
review under the National Environmental Policy Act of 1969 (42 U.S.C. 
4321).

    Dated: June 1, 2020.
John Garvin,
General Deputy Assistant Secretary for Housing.
[FR Doc. 2020-12084 Filed 6-3-20; 8:45 am]
 BILLING CODE 4210-67-P