Notice of Availability: Notice of Funding Availability (NOFA) for HUD's Fiscal Year (FY) NOFA for the Choice Neighborhoods Initiative-Round 1 NOFA Grant Program; Second Technical Correction and Extension of Deadline Date
On October 22, 2010, HUD posted a technical correction and extended the application deadline date for the Notice of Funding Availability (NOFA) for HUD's FY2010 Choice Neighborhoods Initiative Round 1. In the October 22, 2010, HUD extended the deadline for applications in order to makes changes to the Mapping Tool used to determine neighborhood eligibility and stated that a subsequent notice would be posted once the Mapping Tool had been revamped and a new deadline date would be established. Today's notice announces that HUD has posted a notice on Grants.gov that describes changes to the NOFA and sets December 9, 2010, as the new deadline date. The technical correction which establishes the new deadline date can be found using the Department of Housing and Urban Development agency link on the Grants.gov/Find Web site at http://www.grants.gov/ search/agency.do. A link to Grants.gov is also available on the HUD Web site at http://www.hud.gov/offices/adm/grants/fundsavail.cfm. The Catalogue of Federal Domestic Assistance (CFDA) number for the Choice Neighborhood Initiative Program is 14.889. Applications must be submitted electronically through Grants.gov.
Notice of Submission of Proposed Information Collection to OMB; Emergency Comment Request; Application for HUD/FHA Insured Mortgage “HOPE for Homeowners”; Notice of Proposed Information Collection for Public Comment
The proposed information collection requirement described below has been submitted to the Office of Management and Budget (OMB) for emergency review and approval, as required by the Paperwork Reduction Act. The Department is soliciting public comments on the subject proposal. The HOPE for Homeowners Act of 2008, located in Title IV of Division A of the Housing and Economic Recovery Act of 2008 (HERA) (Pub. L. 110-289, 122 Stat. 2654, approved July 30, 2008), amended Title II of the National Housing Act to add a new section 257. New section 257 (12 U.S.C. 1701z-22) established within the Federal Housing Administration (FHA), HOPE for Homeowners, a temporary FHA program that offers homeowners and existing mortgage loan holders (or servicers acting on their behalf) insurance on the refinancing of loans for distressed mortgagors. Regulations published in 24 CFR 4001.01 through 24 CFR 4001.408 detail the requirements pertinent to HUD's single family mortgage insurance programs, i.e., the eligibility requirements and underwriting procedures, which are determined by the documents included in this clearance package. ``Under the Program, new mortgages are offered by FHA-approved mortgagees to mortgagors who are at risk of losing their homes to foreclosure. The new FHA-insured mortgages refinance the borrower's existing mortgage at a significant write-down. Eligible borrowers must be unable to afford their existing mortgage payments, must occupy the residence that is the security for the refinanced mortgage as their primary residence, and may not have any present ownership interest in another residence. Investors and investor properties are not eligible for the FHA-insured refinanced mortgages. Under the Program, participating mortgagors share their new equity and future appreciation with FHA. Additionally, participation in this Program is voluntary. No mortgagees, servicers, or investors are compelled to participate.