Annual Indexing of Basic Statutory Mortgage Limits for Multifamily Housing Programs; Annual Indexing of Substantial Rehabilitation Threshold, 50554-50555 [2021-19496]

Download as PDF 50554 Federal Register / Vol. 86, No. 172 / Thursday, September 9, 2021 / Notices by statute, or the document preempts state law, unless the agency meets the consultation and funding requirements of section 6 of the executive order. This notice merely designates DDAs and QCTs as required under IRC Section 42, as amended, for the use by political subdivisions of the states in allocating the LIHTC. This notice also details the technical methods used in making such designations. As a result, this notice is not subject to review under the order. Todd M. Richardson, General Deputy Assistant Secretary for Policy Development and Research. [FR Doc. 2021–19498 Filed 9–8–21; 8:45 am] BILLING CODE 4210–67–P DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT [Docket No. FR–6274–N–01] Annual Indexing of Basic Statutory Mortgage Limits for Multifamily Housing Programs; Annual Indexing of Substantial Rehabilitation Threshold Office of the Assistant Secretary for Housing—Federal Housing Commissioner, Housing and Urban Development (HUD). ACTION: Notice. AGENCY: In accordance with Section 206A of the National Housing Act, HUD is providing notice of adjustment to the Basic Statutory Mortgage Limits for Multifamily Housing Programs for Calendar Year 2021. HUD is also providing notice of adjustment to the per unit cost threshold for determining substantial rehabilitation in the Multifamily Housing Programs pursuant to its administrative guidance for Calendar Year 2021. DATES: Effective January 1, 2021. FOR FURTHER INFORMATION CONTACT: Patricia M. Burke, Director, Office of Multifamily Production, 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 the toll-free Federal Information Relay Service at (800) 877–8339. SUPPLEMENTARY INFORMATION: Section 206A of the National Housing Act (12 U.S.C. 1712a) provides authority for the annual adjustment for the following FHA multifamily statutory dollar limits: 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)); lotter on DSK11XQN23PROD with NOTICES1 SUMMARY: VerDate Sep<11>2014 19:38 Sep 08, 2021 Jkt 253001 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)). Section 206A goes on to state that the preceding ‘‘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). 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. (b) Notification The Federal Reserve Board on a timely basis shall notify the Secretary, or his designee, in writing of the adjustment described in subsection (a) and of the effective date of such adjustment in order to permit the Secretary to undertake publication in the Federal Register of corresponding adjustments to the Dollar Amounts. The dollar amount of any adjustment shall be rounded to the next lower dollar. Note that 206A has not been updated to reflect the fact that HOEPA has been revised to use $1,000 as the basis for the adjustment rather than $400, and the Consumer Finance Protection Bureau has replaced the Federal Reserve Board in administering the adjustment. These changes were made by the Dodd-Frank Wall Street Reform and Consumer Protection Act’s amendments to the Truth in Lending Act, as further explained in the regulatory implementation of said changes found in 78 FR 6856, 6879 (Jan. 31, 2013). The percentage change in the CPI–U used for the HOEPA adjustment is a 0.3 percent increase and the effective date of the HOEPA adjustment is January 1, 2021. The Dollar Amounts under Section 206A have been adjusted correspondingly and have an effective date of January 1, 2021. These revised statutory limits may be applied to FHA multifamily mortgage insurance applications submitted or amended on or after January 1, 2021, so long as the loan has not been initially endorsed. The adjusted Dollar Amounts for Calendar Year 2021 are shown below. To implement the Consumer Finance Protection Bureau’s adjustment, a onetime proration is required to the 0.3 percent figure, which was computed from April 2019 to April 2020 (see 85 FR 50944, Aug. 19, 2020). Because PO 00000 Frm 00031 Fmt 4703 Sfmt 4703 HUD’s previous Dollar Amounts utilized CPI–U data through December 2019, only interim CPI–U data from January 2020 through April 2020 is reflected in the table calculations. The overall impact of this adjustment resulted in no change for Calendar Year 2021, because CPI–U showed minor inflation of 1 percent in January and February 2020, but was fully offset by minor deflation of 1% in March and April 2020, associated with COVID–19 pandemic economic disruptions. Moving forward in future years HUD will continue to utilize the CFPB’s time period (April to April) used for the HOEPA CPI–U adjustment, which is typically published in the August preceding the following January effective date. Basic Statutory Mortgage Limits for Calendar Year 2021 Multifamily Loan Program Section 207—Multifamily Housing; Section 207 pursuant to Section 223(f)— Purchase or Refinance Housing; and, 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 Elevator $64,026 70,944 86,990 108,951 123,193 Section 213—Cooperatives Bedrooms 0 ................ 1 ................ 2 ................ 3 ................ 4+ .............. Non-elevator $59,488 68,592 82,723 105,887 117,966 Elevator $63,342 71,764 87,265 112,895 123,927 Section 234—Condominium Housing Bedrooms 0 ................ 1 ................ 2 ................ 3 ................ 4+ .............. Non-elevator $60,702 69,991 84,411 108,050 120,372 Elevator $63,881 73,230 89,049 115,201 126,454 Section 221(d)(4)—Moderate Income Housing Bedrooms 0 ................ 1 ................ 2 ................ 3 ................ 4+ .............. Non-elevator $54,628 62,013 74,959 94,085 106,314 Elevator $59,010 67,649 82,262 106,418 116,817 Section 231—Housing for the Elderly E:\FR\FM\09SEN1.SGM 09SEN1 Federal Register / Vol. 86, No. 172 / Thursday, September 9, 2021 / Notices Bedrooms 0 ................ 1 ................ 2 ................ 3 ................ 4+ .............. Non-elevator National Environmental Policy Act of 1969 (42 U.S.C. 4321). Elevator $51,937 58,063 69,336 83,443 98,101 $59,010 67,649 82,262 106,418 116,817 Section 207—Manufactured Home Parks Per Space—$25,200 Indexing of Per Unit Limit for Substantial Rehabilitation for Calendar Year 2021 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 5.1.2.A.2.b of the 2020 MAP guide requires that this base amount be annually adjusted for inflation based on the percentage change published by the Bureau of Labor Statistics of the Department of Labor or other inflation cost index. Applying the HOEPA adjustment to the base amount, the 2021 base amount per dwelling unit to determine substantial rehabilitation for FHA insured loan programs is $16,299. This per unit cost threshold for substantial rehabilitation may be applied to FHA multifamily mortgage insurance applications submitted or amended on or after January 1, 2021, so long as the loan has not been initially endorsed. 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 [FR Doc. 2021–19496 Filed 9–8–21; 8:45 am] BILLING CODE 4210–67–P DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT [Docket No. FR–7034–C–48] 30-Day Notice of Proposed Information Collection: Production of Material or Provision of Testimony in Response to Demands in Legal Proceedings Among Private Litigants; OMB Control No.: 2510–0014 Office of the Chief Information Officer, Housing and Urban Development (HUD). ACTION: Notice: Correction. AGENCY: HUD is seeking approval from the Office of Management and Budget (OMB) for the information collection described below. In accordance with the Paperwork Reduction Act, HUD is requesting comment from all interested parties on the proposed collection of information. The purpose of this notice is to allow for 30 days of public comment. This notice corrects the notice that was published on September 3, 2021 to remove forms that do not pertain to this collection. DATES: Comments Due Date: October 12, 2021. ADDRESSES: Interested persons are invited to submit comments regarding this proposal. Written comments and recommendations for the proposed information collection should be sent within 30 days of publication of this notice to OIRA_submission@ omb.eop.gov or www.reginfo.gov/public/ do/PRAMain. Find this particular information collection by selecting ‘‘Currently under 30-day Review—Open SUMMARY: for Public Comments’’ or by using the search function. FOR FURTHER INFORMATION CONTACT: Anna P. Guido, Reports Management Officer, QMAC, Department of Housing and Urban Development, 451 7th Street SW, Washington, DC 20410; email her at Anna.P.Guido@hud.gov or telephone 202–402–5535. This is not a toll-free number. Person with hearing or speech impairments may access this number through TTY by calling the toll-free Federal Relay Service at (800) 877–8339. Copies of available documents submitted to OMB may be obtained from Ms. Guido. SUPPLEMENTARY INFORMATION: This notice informs the public that HUD is seeking approval from OMB for the information collection described in Section A. The Federal Register notice that solicited public comment on the information collection for a period of 60 days was published on June 14, 2021 at 86 FR 31521. A. Overview of Information Collection Title of Information Collection: Production of Material or Provision of Testimony in Response to Demands in Legal Proceedings Among Private Litigants. OMB Approval Number: 2510–0014. Type of Request: Extension of a currently approved collection. Form Number: None—Please see 24 CFR 15.203. Description of the need for the information and proposed use: Section 15.203 of HUD’s regulations in 24 CFR specify the manner in which demands for documents and testimony from the Department should be made. Providing the information specified in 24 CFR 15.203 allows the Department to more promptly identify documents and testimony which a requestor may be seeking and determine whether the Department will be able to produce such documents and testimony. Information collection Number of respondents Frequency of response Responses per annum Burden hour per response Annual burden hours Hourly cost per response Annual cost § 15.203 ........................ 106.00 1.00 106.00 1.50 159.00 $53.00 $8,427.00 B. Solicitation of Public Comment lotter on DSK11XQN23PROD with NOTICES1 Lopa P. Kolluri, Principal Deputy Assistant Secretary for the Office of Housing—Federal Housing Administration. 50555 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 VerDate Sep<11>2014 19:38 Sep 08, 2021 Jkt 253001 proper performance of the functions of the agency, including whether the information will have practical utility; (2) If the information will be processed and used in a timely manner; (3) The accuracy of the agency’s estimate of the burden of the proposed collection of information; PO 00000 Frm 00032 Fmt 4703 Sfmt 4703 (4) Ways to enhance the quality, utility, and clarity of the information to be collected; and (5) 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 E:\FR\FM\09SEN1.SGM 09SEN1

Agencies

[Federal Register Volume 86, Number 172 (Thursday, September 9, 2021)]
[Notices]
[Pages 50554-50555]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2021-19496]


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DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT

[Docket No. FR-6274-N-01]


Annual Indexing of Basic Statutory Mortgage Limits for 
Multifamily Housing Programs; Annual Indexing of Substantial 
Rehabilitation Threshold

AGENCY: Office of the Assistant Secretary for Housing--Federal Housing 
Commissioner, Housing and Urban Development (HUD).

ACTION: Notice.

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

SUMMARY: In accordance with Section 206A of the National Housing Act, 
HUD is providing notice of adjustment to the Basic Statutory Mortgage 
Limits for Multifamily Housing Programs for Calendar Year 2021. HUD is 
also providing notice of adjustment to the per unit cost threshold for 
determining substantial rehabilitation in the Multifamily Housing 
Programs pursuant to its administrative guidance for Calendar Year 
2021.

DATES: Effective January 1, 2021.

FOR FURTHER INFORMATION CONTACT: Patricia M. Burke, Director, Office of 
Multifamily Production, 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 the toll-free 
Federal Information Relay Service at (800) 877-8339.

SUPPLEMENTARY INFORMATION: Section 206A of the National Housing Act (12 
U.S.C. 1712a) provides authority for the annual adjustment for the 
following FHA multifamily statutory dollar limits:

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)).

    Section 206A goes on to state that the preceding

    ``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). 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.

(b) Notification

    The Federal Reserve Board on a timely basis shall notify the 
Secretary, or his designee, in writing of the adjustment described 
in subsection (a) and of the effective date of such adjustment in 
order to permit the Secretary to undertake publication in the 
Federal Register of corresponding adjustments to the Dollar Amounts. 
The dollar amount of any adjustment shall be rounded to the next 
lower dollar.

    Note that 206A has not been updated to reflect the fact that HOEPA 
has been revised to use $1,000 as the basis for the adjustment rather 
than $400, and the Consumer Finance Protection Bureau has replaced the 
Federal Reserve Board in administering the adjustment. These changes 
were made by the Dodd-Frank Wall Street Reform and Consumer Protection 
Act's amendments to the Truth in Lending Act, as further explained in 
the regulatory implementation of said changes found in 78 FR 6856, 6879 
(Jan. 31, 2013).
    The percentage change in the CPI-U used for the HOEPA adjustment is 
a 0.3 percent increase and the effective date of the HOEPA adjustment 
is January 1, 2021. The Dollar Amounts under Section 206A have been 
adjusted correspondingly and have an effective date of January 1, 2021.
    These revised statutory limits may be applied to FHA multifamily 
mortgage insurance applications submitted or amended on or after 
January 1, 2021, so long as the loan has not been initially endorsed.
    The adjusted Dollar Amounts for Calendar Year 2021 are shown below. 
To implement the Consumer Finance Protection Bureau's adjustment, a 
one-time proration is required to the 0.3 percent figure, which was 
computed from April 2019 to April 2020 (see 85 FR 50944, Aug. 19, 
2020). Because HUD's previous Dollar Amounts utilized CPI-U data 
through December 2019, only interim CPI-U data from January 2020 
through April 2020 is reflected in the table calculations. The overall 
impact of this adjustment resulted in no change for Calendar Year 2021, 
because CPI-U showed minor inflation of 1 percent in January and 
February 2020, but was fully offset by minor deflation of 1% in March 
and April 2020, associated with COVID-19 pandemic economic disruptions.
    Moving forward in future years HUD will continue to utilize the 
CFPB's time period (April to April) used for the HOEPA CPI-U 
adjustment, which is typically published in the August preceding the 
following January effective date.

Basic Statutory Mortgage Limits for Calendar Year 2021 Multifamily Loan 
Program

Section 207--Multifamily Housing;
Section 207 pursuant to Section 223(f)--Purchase or Refinance Housing; 
and,
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

[[Page 50555]]



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

Indexing of Per Unit Limit for Substantial Rehabilitation for Calendar 
Year 2021

    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 5.1.2.A.2.b of the 2020 MAP 
guide requires that this base amount be annually adjusted for inflation 
based on the percentage change published by the Bureau of Labor 
Statistics of the Department of Labor or other inflation cost index. 
Applying the HOEPA adjustment to the base amount, the 2021 base amount 
per dwelling unit to determine substantial rehabilitation for FHA 
insured loan programs is $16,299.
    This per unit cost threshold for substantial rehabilitation may be 
applied to FHA multifamily mortgage insurance applications submitted or 
amended on or after January 1, 2021, so long as the loan has not been 
initially endorsed.

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).

Lopa P. Kolluri,
Principal Deputy Assistant Secretary for the Office of Housing--Federal 
Housing Administration.
[FR Doc. 2021-19496 Filed 9-8-21; 8:45 am]
BILLING CODE 4210-67-P