Annual Indexing of Basic Statutory Mortgage Limits for Multifamily Housing Programs, 10089-10090 [2024-02870]

Download as PDF Federal Register / Vol. 89, No. 30 / Tuesday, February 13, 2024 / Notices Comments to the Coast Guard should be submitted using the Federal eRulemaking Portal at https:// www.regulations.gov. Search for docket number [USCG–2023–0672]. Written comments and recommendations to OIRA for the proposed information collection should be sent within 30 days of publication of this notice to https:// www.reginfo.gov/public/do/PRAMain. Find this particular information collection by selecting ‘‘Currently under 30-day Review—Open for Public Comments’’ or by using the search function. A copy of the ICR is available through the docket on the internet at https:// www.regulations.gov. Additionally, copies are available from: Commandant (CG–6P), Attn: Paperwork Reduction Act Manager, U.S. Coast Guard, 2703 Martin Luther King Jr. Ave SE, STOP 7710, Washington, DC 20593–7710. FOR FURTHER INFORMATION CONTACT: A.L. Craig, Office of Privacy Management, telephone 202–475–3528, or fax 202– 372–8405, for questions on these documents. ADDRESSES: SUPPLEMENTARY INFORMATION: lotter on DSK11XQN23PROD with NOTICES1 Public Participation and Request for Comments This notice relies on the authority of the Paperwork Reduction Act of 1995; 44 U.S.C. 3501 et seq., chapter 35, as amended. An ICR is an application to OIRA seeking the approval, extension, or renewal of a Coast Guard collection of information (Collection). The ICR contains information describing the Collection’s purpose, the Collection’s likely burden on the affected public, an explanation of the necessity of the Collection, and other important information describing the Collection. There is one ICR for each Collection. The Coast Guard invites comments on whether this ICR should be granted based on the Collection being necessary for the proper performance of Departmental functions. In particular, the Coast Guard would appreciate comments addressing: (1) the practical utility of the Collection; (2) the accuracy of the estimated burden of the Collection; (3) ways to enhance the quality, utility, and clarity of information subject to the Collection; and (4) ways to minimize the burden of the Collection on respondents, including the use of automated collection techniques or other forms of information technology. These comments will help OIRA determine whether to approve the ICR referred to in this Notice. We encourage you to respond to this request by submitting comments and VerDate Sep<11>2014 16:57 Feb 12, 2024 Jkt 262001 related materials. Comments to Coast Guard or OIRA must contain the OMB Control Number of the ICR. They must also contain the docket number of this request, [USCG–2023–0672], and must be received by March 14, 2024. Submitting Comments We encourage you to submit comments through the Federal eRulemaking Portal at https:// www.regulations.gov. If your material cannot be submitted using https:// www.regulations.gov, contact the person in the FOR FURTHER INFORMATION CONTACT section of this document for alternate instructions. Documents mentioned in this notice, and all public comments, are in our online docket at https://www.regulations.gov and can be viewed by following that website’s instructions. Additionally, if you go to the online docket and sign up for email alerts, you will be notified when comments are posted. We accept anonymous comments. All comments to the Coast Guard will be posted without change to https:// www.regulations.gov and will include any personal information you have provided. For more about privacy and submissions to the Coast Guard in response to this document, see DHS’s eRulemaking System of Records notice (85 FR 14226, March 11, 2020). For more about privacy and submissions to OIRA in response to this document, see the https://www.reginfo.gov, commentsubmission web page. OIRA posts its decisions on ICRs online at https:// www.reginfo.gov/public/do/PRAMain after the comment period for each ICR. An OMB Notice of Action on each ICR will become available via a hyperlink in the OMB Control Number: 1625–0031. Previous Request for Comments This request provides a 30-day comment period required by OIRA. The Coast Guard published the 60-day notice (88 FR 77104, November 8, 2023) required by 44 U.S.C. 3506(c)(2). That notice elicited no comments. Accordingly, no changes have been made to the Collection. Information Collection Request Title: Plan Approval and Records for Electrical Engineering Regulations— Title 46 CFR Subchapter J. OMB Control Number: 1625–0031. Summary: The information is needed to ensure compliance with our rules on electrical engineering for the design and construction of U.S.-flag commercial vessels. Need: Title 46 U.S.C. 3306 and 3703 authorize the Coast Guard to establish rules to promote the safety of life and PO 00000 Frm 00069 Fmt 4703 Sfmt 4703 10089 property in commercial vessels. The electrical engineering rules appear at 46 CFR subchapter J (parts 110 through 113). Forms: None. Respondents: Owners, operators, shipyards, designers, and manufacturers of vessels. Frequency: On occasion. Hour Burden Estimate: The estimated burden has decreased from 6,536 hours to 4,662 hours a year, due to an estimated decrease in the annual number of responses. Authority: The Paperwork Reduction Act of 1995; 44 U.S.C. et seq., chapter 35, as amended. Dated: January 30, 2024. Kathleen Claffie, Chief, Office of Privacy Management, U.S. Coast Guard. [FR Doc. 2024–02895 Filed 2–12–24; 8:45 am] BILLING CODE 9110–04–P DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT [Docket No. FR–6445–N–01] Annual Indexing of Basic Statutory Mortgage Limits for Multifamily Housing Programs Office of the Assistant Secretary for Housing—Federal Housing Commissioner, 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 2024. DATES: The adjustments are effective January 1, 2024. FOR FURTHER INFORMATION CONTACT: Willie Fobbs III, Director, Office of Multifamily Production, Room 6134, U.S. Department of Housing and Urban Development, 451 Seventh Street SW, Washington, DC 20410–8000, telephone (202) 402–6257 (this is not a toll-free number). HUD welcomes and is prepared to receive calls from individuals who are deaf or hard of hearing, as well as individuals with speech or communication disabilities. To learn more about how to make an accessible telephone call, please visit https://www.fcc.gov/consumers/guides/ telecommunications-relay-service-trs. 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: SUMMARY: E:\FR\FM\13FEN1.SGM 13FEN1 10090 Federal Register / Vol. 89, No. 30 / Tuesday, February 13, 2024 / Notices lotter on DSK11XQN23PROD with NOTICES1 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)(3)(ii)(I) (12 U.S.C. 1715l(d)(3)(ii)(I)); V. Section 221(d)(4)(ii)(I) (12 U.S.C. 1715l(d)(4)(ii)(I)); VI. Section 231(c)(2)(A) (12 U.S.C. 1715v(c)(2)(A)); and VII. Section 234(e)(3)(A) (12 U.S.C. 1715y(e)(3)(A)). Section 206A goes on to state: (a) [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 4.9 percent increase and the effective date of the HOEPA adjustment is January 1, 2024. The Dollar Amounts under section 206A have been adjusted correspondingly and have an effective date of January 1, 2024 (see 88 FR 65113, Sept. 21, 2023). These revised statutory limits may be applied to FHA multifamily mortgage insurance applications submitted or amended on or after January 1, 2024, so long as the loan has not been initially endorsed. VerDate Sep<11>2014 16:57 Feb 12, 2024 Jkt 262001 The adjusted Dollar Amounts for Calendar Year 2024 are shown below. Basic Statutory Mortgage Limits for Calendar Year 2024 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 $64,979 71,980 85,980 105,977 119,977 Elevator $75,792 83,980 102,976 128,972 145,833 Section 213—Cooperatives Bedrooms 0 ................ 1 ................ 2 ................ 3 ................ 4+ .............. Non-elevator $70,419 81,196 97,925 125,346 139,644 0 ................ 1 ................ 2 ................ 3 ................ 4+ .............. Non-elevator $71,856 82,853 99,923 127,906 142,493 103,302 133,641 146,700 Elevator $75,620 86,687 105,414 136,372 149,693 Section 221(d)(4)—Moderate Income Housing Bedrooms 0 ................ 1 ................ 2 ................ 3 ................ 4+ .............. Non-elevator $64,666 73,409 88,733 111,374 125,851 Elevator $69,853 80,080 97,379 125,974 138,285 Section 231—Housing for the Elderly Bedrooms 0 ................ 1 ................ 2 ................ 3 ................ 4+ .............. Non-elevator $61,480 68,732 82,077 98,776 116,129 Elevator $69,853 80,080 97,379 125,974 138,285 Section 207—Manufactured Home Parks Per Space—$29,830 Environmental Impact This notice involves a statutorily required establishment of mortgage loan limits that does 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 PO 00000 Frm 00070 Fmt 4703 Sfmt 4703 Julia R. Gordon, Assistant Secretary for Housing—Federal Housing Administration Commissioner. [FR Doc. 2024–02870 Filed 2–12–24; 8:45 am] BILLING CODE 4210–67–P DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT [Docket No. FR–6433–N–01] Request for Information Regarding Iron, Steel, Construction Materials, and Manufactured Products Used in Housing Programs Pursuant to the Build America, Buy America Act Office of the Secretary, Department of Housing and Urban $74,982 Development (HUD). 84,952 ACTION: Request for information. Elevator Section 234—Condominium Housing Bedrooms environmental review under the National Environmental Policy Act of 1969 (42 U.S.C. 4321). AGENCY: This Request for Information (RFI) seeks public input on the implementation of the Build America, Buy America Act (BABA or the Act) as it applies to HUD’s Federal Financial Assistance (FFA) provided in support of the construction, alteration, maintenance, and repair of housing infrastructure projects in the United States. The purpose of this RFI is to improve HUD’s understanding of the current state of the domestic market for products required in housing infrastructure projects. HUD is especially interested in comments detailing domestic materials sourcing, market readiness, other product supply considerations, and whether specific housing products or their components are manufactured in the United States. DATES: Comment Due Date: April 15, 2024. Late-filed comments will be considered to the extent practicable. ADDRESSES: Interested persons are invited to submit comments on this RFI. Copies of all comments submitted are available for inspection and downloading at www.regulations.gov. To receive consideration as public comments, comments must be submitted through one of the two methods specified below. All submissions must refer to the above docket number and title. Commenters are encouraged to identify the number of the specific question or questions to which they are responding. Responses should include the name(s) of the person(s) or organization(s) filing the comment; however, because any responses received by HUD will be publicly available, responses should not include any personally identifiable SUMMARY: E:\FR\FM\13FEN1.SGM 13FEN1

Agencies

[Federal Register Volume 89, Number 30 (Tuesday, February 13, 2024)]
[Notices]
[Pages 10089-10090]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2024-02870]


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DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT

[Docket No. FR-6445-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 is providing notice of adjustment to the Basic Statutory Mortgage 
Limits for Multifamily Housing Programs for calendar year 2024.

DATES: The adjustments are effective January 1, 2024.

FOR FURTHER INFORMATION CONTACT: Willie Fobbs III, Director, Office of 
Multifamily Production, Room 6134, U.S. Department of Housing and Urban 
Development, 451 Seventh Street SW, Washington, DC 20410-8000, 
telephone (202) 402-6257 (this is not a toll-free number). HUD welcomes 
and is prepared to receive calls from individuals who are deaf or hard 
of hearing, as well as individuals with speech or communication 
disabilities. To learn more about how to make an accessible telephone 
call, please visit https://www.fcc.gov/consumers/guides/telecommunications-relay-service-trs.

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:


[[Page 10090]]


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)(3)(ii)(I) (12 U.S.C. 1715l(d)(3)(ii)(I));
V. Section 221(d)(4)(ii)(I) (12 U.S.C. 1715l(d)(4)(ii)(I));
VI. Section 231(c)(2)(A) (12 U.S.C. 1715v(c)(2)(A)); and
VII. Section 234(e)(3)(A) (12 U.S.C. 1715y(e)(3)(A)).

    Section 206A goes on to state:
    (a) [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 4.9 percent increase and the effective date of the HOEPA adjustment 
is January 1, 2024. The Dollar Amounts under section 206A have been 
adjusted correspondingly and have an effective date of January 1, 2024 
(see 88 FR 65113, Sept. 21, 2023).
    These revised statutory limits may be applied to FHA multifamily 
mortgage insurance applications submitted or amended on or after 
January 1, 2024, so long as the loan has not been initially endorsed.
    The adjusted Dollar Amounts for Calendar Year 2024 are shown below.

Basic Statutory Mortgage Limits for Calendar Year 2024 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.......................................         $64,979         $75,792
1.......................................          71,980          83,980
2.......................................          85,980         102,976
3.......................................         105,977         128,972
4+......................................         119,977         145,833
------------------------------------------------------------------------

Section 213--Cooperatives

------------------------------------------------------------------------
                Bedrooms                   Non-elevator      Elevator
------------------------------------------------------------------------
0.......................................         $70,419         $74,982
1.......................................          81,196          84,952
2.......................................          97,925         103,302
3.......................................         125,346         133,641
4+......................................         139,644         146,700
------------------------------------------------------------------------

Section 234--Condominium Housing

------------------------------------------------------------------------
                Bedrooms                   Non-elevator      Elevator
------------------------------------------------------------------------
0.......................................         $71,856         $75,620
1.......................................          82,853          86,687
2.......................................          99,923         105,414
3.......................................         127,906         136,372
4+......................................         142,493         149,693
------------------------------------------------------------------------

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

------------------------------------------------------------------------
                Bedrooms                   Non-elevator      Elevator
------------------------------------------------------------------------
0.......................................         $64,666         $69,853
1.......................................          73,409          80,080
2.......................................          88,733          97,379
3.......................................         111,374         125,974
4+......................................         125,851         138,285
------------------------------------------------------------------------

Section 231--Housing for the Elderly

------------------------------------------------------------------------
                Bedrooms                   Non-elevator      Elevator
------------------------------------------------------------------------
0.......................................         $61,480         $69,853
1.......................................          68,732          80,080
2.......................................          82,077          97,379
3.......................................          98,776         125,974
4+......................................         116,129         138,285
------------------------------------------------------------------------

Section 207--Manufactured Home Parks
    Per Space--$29,830

Environmental Impact

    This notice involves a statutorily required establishment of 
mortgage loan limits that does 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).

Julia R. Gordon,
Assistant Secretary for Housing--Federal Housing Administration 
Commissioner.
[FR Doc. 2024-02870 Filed 2-12-24; 8:45 am]
BILLING CODE 4210-67-P
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