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