Department of Housing and Urban Development November 2, 2023 – Federal Register Recent Federal Regulation Documents
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Notice of HUD Vacant Loan Sales (HVLS 2024-1)
This notice announces HUD's intention to competitively offer approximately 1,610 reverse mortgage notes secured by vacant properties with a loan balance of approximately $395 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 Secretary will prioritize up to 50 percent of the offered assets for award to nonprofit organizations or governmental entity bidders with a documented housing mission. This notice also generally describes the bidding process for the sale and certain entities who are ineligible to bid. This is the eleventh sale offering of its type and will be held on December 5, 2023.
Section 202 Direct Loan Technical Amendments
This final rule implements technical amendments to HUD's program regulations governing Section 202 Direct Loans for Housing for the Elderly and Persons with Disabilities (``Section 202 Direct Loan''), including the Section 202 Projects for the Elderly or HandicappedSection 8 Assistance (``202/8'') and the Section 202 Assistance for Nonelderly Handicapped Families and IndividualsSection 162 Assistance (``202/162'') programs. The amendments are necessary to conform the Section 202 Direct Loan program regulations with HUD's final rule implementing sections 102, 103, and 104 of the Housing Opportunity Through Modernization Act of 2016 (HOTMA). This final rule also corrects outdated cross references in the Section 202 Direct Loan program regulations and updates the list of protected classes applicable to affirmative marketing requirements for the Section 202/8 and Section 202/162 programs.
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