Department of Housing and Urban Development June 30, 2011 – Federal Register Recent Federal Regulation Documents

This notice advises of the cause and effect of termination of Origination Approval Agreements taken by HUD's Federal Housing Administration (FHA) against HUD-approved mortgagees through the FHA Credit Watch Termination Initiative. This notice includes a list of mortgagees which have had their Origination Approval Agreements terminated.

HUD announces the availability on its Web site and https:// www.Grants.gov of the applicant information, submission deadlines, funding criteria, and other requirements for HUD's FY2011 HOPE VI Main Street Grants NOFA. Specifically, this NOFA announces the availability of approximately $500,000 made available under the Department of Defense and Full-Year Continuing Appropriations Act, 2011, Public Law 112-10, approved April 15, 2011. The purpose of the Main Street Grants program is to provide grants to small communities to assist in the rejuvenation of an historic or traditional central business district or ``Main Street'' area by replacing unused commercial space in buildings with affordable housing units. The objectives of the program are to: 1. Redevelop Main Street areas; 2. Preserve historic or traditional architecture or design features in Main Street areas; 3. Enhance economic development efforts in Main Street areas; and 4. Provide affordable housing in Main Street areas. The notice providing information regarding the application process, funding criteria and eligibility requirements, application and instructions can be found using the Department of Housing and Urban Development agency link on the Grants.gov/Find Web site at https:// www.grants.gov/search/agency.do. A link to the funding opportunity is also available on the HUD Web site at https://portal.hud.gov/hudportal/ HUD?src=/programoffices/administration/grants/fundsavail. The link from the funds available page will take you to the agency link on Grants.gov. The Catalogue of Federal Domestic Assistance (CFDA) number for this program is 14.878. Applications must be submitted electronically through Grants.gov.

This final rule sets forth the minimum standards for the state licensing and registration of residential mortgage loan originators, requirements for operating the Nationwide Mortgage Licensing System and Registry (NMLSR), and HUD's Federal oversight responsibilities pursuant to the Secure and Fair Enforcement Mortgage Licensing Act of 2008 (SAFE Act or Act), to ensure proper monitoring and enforcement of states' compliance with statutory requirements. This 2008 law directs states to adopt loan originator licensing and registration requirements that meet the minimum standards specified in the SAFE Act. In addition to codifying the minimum licensing standards and HUD's oversight responsibilities under the SAFE Act, this rule also clarifies or interprets certain statutory provisions that pertain to the scope of the SAFE Act's licensing requirements, and other requirements that pertain to the implementation, oversight, and enforcement responsibilities of the states.