Indexing Methodology for Title I Manufactured Home Loan Limits; Correction, 26105 [2024-07880]

Agencies

• DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT

[Federal Register Volume 89, Number 73 (Monday, April 15, 2024)]
[Rules and Regulations]
[Page 26105]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2024-07880]



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Rules and Regulations
                                                Federal Register
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Federal Register / Vol. 89, No. 73 / Monday, April 15, 2024 / Rules 
and Regulations

[[Page 26105]]



DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT

24 CFR Part 201

[Docket No. FR-6207-C-03]
RIN 2502-AJ52


Indexing Methodology for Title I Manufactured Home Loan Limits; 
Correction

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

ACTION: Correcting amendment.

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SUMMARY: The Department of the Housing and Urban Development (HUD) is 
correcting a final rule entitled, ``Indexing Methodology for Title 1 
Manufactured Home Loan Limits'' that published in the Federal Register 
on February 28, 2024.

DATES: Effective April 15, 2024.

FOR FURTHER INFORMATION CONTACT: With respect to this technical 
correction, contact Aaron Santa Anna, Associate General Counsel for 
Legislation and Regulations, Department of Housing and Urban 
Development, 451 7th Street SW, Room 10238, Washington, DC 20410; 
telephone number 202-708-1793 (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: On February 28, 2024 (89 FR 14582) (FR Doc. 
2024-04138), HUD published a final rule that amends the maximum loan 
limits for manufactured home loans insured under Title I of the 
National Housing Act and required regulations to implement future 
indexing of the loan limit amounts for manufactured homes originated 
under the Manufactured Home Loan program.
    In reviewing the February 28, 2024, final rule, HUD identified 
inadvertent errors in amendatory instruction 3. This document corrects 
this error.

List of Subjects in 24 CFR Part 201

    Claims, Health facilities, Historic preservation, Home improvement, 
Loan programs--housing and community development, Manufactured homes, 
Mortgage insurance, Reporting and recordkeeping requirements.

    Accordingly, 24 CFR part 201 is corrected by making the following 
correcting amendments:

PART 201--TITLE I PROPERTY IMPROVEMENT AND MANUFACTURED HOME LOANS

0
1. The authority for 24 CFR part 201 continues to read as follows:

    Authority: 12 U.S.C. 1703; 15 U.S.C. 1639c; 42 U.S.C. 3535(d).


0
2. Amend Sec.  201.10 by adding paragraphs (d)(1)(i) through (vii) and 
(d)(2)(i) and (ii) to read as follows:


Sec.  201.10  Loan amounts.

* * * * *
    (d) * * *
    (1) * * *
    (i) 130 percent of the sum of the wholesale (base) prices of the 
home and any itemized options and the charge for freight, as detailed 
in the manufacturer's invoice;
    (ii) The charge for any sales taxes to be paid by the dealer, as 
detailed in the manufacturer's invoice;
    (iii) The actual dealer's cost of transportation to the homesite, 
set-up and anchoring, including the rental of wheels and axles (if not 
included in the freight charge);
    (iv) The actual dealer's cost of purchasing and installing a 
central air conditioning system or heat pump, if not installed by the 
manufacturer;
    (v) The appraised value of the developed manufactured home lot (as 
determined by a HUD-approved appraisal, including on-site water and 
utility connections, sanitary facilities, site improvements and 
landscaping) or the purchase price, whichever is less;
    (vi) The actual dealer's cost of appurtenances to the home such as 
a permanent foundation, garage, carport or patio; and
    (vii) Any applicable charges authorized at Sec.  201.25(b).
    (2) * * *
    (i) 95 percent of the total appraised value of the home, the lot, 
and any appurtenances (as determined by a HUD-approved appraisal), plus 
95 percent of any applicable charges authorized at Sec.  201.25(b); or
    (ii) 95 percent of the purchase price of the home, the lot, and any 
appurtenances.
* * * * *

Department of Housing and Urban Development.
Aaron Santa Anna,
Associate General Counsel, Office of Legislation and Regulations.
[FR Doc. 2024-07880 Filed 4-12-24; 8:45 am]
BILLING CODE 4210-67-P