Department of Housing and Urban Development June 8, 2017 – Federal Register Recent Federal Regulation Documents

This notice announces HUD's intention to competitively offer multiple residential reverse mortgage pools consisting of approximately 885 reverse mortgage notes secured by properties with an aggregate broker price opinion of approximately $120 million. The sale will consist of due and payable Secretary-held reverse mortgage loans. The mortgage loans consist of first liens secured by single family, vacant residential properties, where all borrowers are deceased and no borrower is survived by a non-borrowing spouse. The Department has verified the death of borrowers by obtaining a death certificate or a notice of death for each and verified vacancy through its review of interior Broker Price Opinions (BPOs), where available and, where unavailable, exterior BPOs. This notice also describes the bidding process for the sale and certain persons who are ineligible to bid. This is the second sale offering of its type and the sale will be held on June 21, 2017.

This notice establishes Renewal Funding Inflation Factors (RFIF) to adjust Fiscal Year (FY) 2017 renewal funding for the Tenant- based Rental Assistance (TBRA), or Housing Choice Voucher (HCV), Program of each public housing agency (PHA), as required by the Consolidated Appropriations Act, 2017. The notice apportions the expected percent change in national Per Unit Cost (PUC) for the HCV program, 3.97%, to each PHA based on the change in Fair Market Rents (FMR) for their operating area to produce the FY 2017 RFIFs. HUD's FY 2017 methodology differs in part from that used in FY 2016; HUD improved the national PUC forecast by removing the reliance on historical PUC data and independently projecting growth in gross rents and tenant incomes.