Department of Housing and Urban Development August 31, 2006 – Federal Register Recent Federal Regulation Documents

This notice responds to recent inquiries to the Department about the status of HUD's update of a comprehensive set of closing forms and documents for use in the Federal Housing Administration (FHA) multifamily rental project and health care facility (excluding hospitals) mortgage insurance programs. On August 2, 2004, HUD issued for review and public comment 36 proposed revised closing forms. The public comment period closed on October 1, 2004, and HUD received submissions from 25 commenters. This notice advises the housing industry and interested members of the public that these documents remain in development and are not ready for issuance. Although the closing documents remain in development, HUD understands the interest and concern of industry and other interested members of the public regarding the timetable for release of these documents in final form by HUD and the effective date of such forms. To address the interest and concerns regarding the status of development, this notice describes policy decisions that have been made on the closing documents, and the processes, which these documents must still undergo before final issuance. In addition to this notice, HUD will conduct a meeting, on Thursday, September 21, 2006, at HUD Headquarters, to address questions about the decisions that have been made and the processes that these documents must undergo before final issuance. HUD is inviting to this meeting, the 25 commenters, and, subject to room capacity limitations, other interested members of the public. HUD also will make phone lines available to expand the capacity of the members of the public that may participate in this meeting. The purpose of this meeting is not for the purpose of reopening the public comment period on the closing documents. HUD will not accept new comments at the meeting, either orally or in writing, nor will HUD engage in a discussion of issues still under consideration. The purpose of the meeting is solely to brief the commenters and interested members of the public on the status of development of the revised closing forms. HUD believes that a briefing on the process of development of the forms will assist all interested parties in understanding the stages of review these forms must undergo prior to issuance. HUD intends to finalize and then implement the revised closing forms in calendar year 2007.