Code of Federal Regulations (Last Updated: November 8, 2024) |
Title 24 - Housing and Urban Development |
Subtitle B - Regulations Relating to Housing and Urban Development |
Chapter II - Office of Assistant Secretary for Housing - Federal Housing Commissioner, Department of Housing and Urban Development |
SubChapter B - Mortgage and Loan Insurance Programs Under National Housing Act and Other Authorities |
Part 248 - Prepayment of Low Income Housing Mortgages |
Subpart C - Prepayment and Plans of Action Under the Emergency Low Income Preservation Act of 1987 |
§ 248.219 - Notification of approval.
Latest version.
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§ 248.219 Notification of approval.
(a) Not later than 180 days after initial receipt of a plan of action, or within such longer period as the owner requests, the Commissioner shall notify the owner in writing whether the plan of action, including any revisions, is approved.
(b) If approval is withheld, the notice will -
(1) Describe the reasons for withholding approval, including prolonged delay by the owner in submitting a revised plan of action;
(2) Describe the actions that could be taken to meet the criteria for approval; and
(3) Afford the owner a reasonable opportunity to revise the plan of action and seek approval.