[Federal Register Volume 64, Number 34 (Monday, February 22, 1999)]
[Proposed Rules]
[Page 8532]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 99-4239]
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DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT
24 CFR Part 203
[Docket No. FR-4251-N-02]
RIN 2502-AH00
Withdrawal of Proposed Rule on Suspension of Authority to Insure
New FHA Single Family Mortgages on Indian Reservations Pursuant to
Section 248 of the National Housing Act
AGENCY: Office of the Assistant Secretary for Housing-Federal Housing
Commissioner, HUD.
ACTION: Withdrawal of proposed rule.
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SUMMARY: This notice withdraws a proposed rule that would have
suspended the authority of the HUD Secretary to provide FHA insurance
pursuant to section 248 of the National Housing Act for mortgage loans
made for the financing of single family homes on Indian reservations.
DATES: The proposed rule is withdrawn February 22, 1999.
FOR FURTHER INFORMATION CONTACT: Morris Carter, Office of Insured
Single Family Housing, Room 9162, Department of Housing and Urban
Development, 451 Seventh Street, SW, Washington, DC 20410. Telephone:
(202) 708-3046. (This is not a toll-free number.) For hearing- and
speech-impaired persons, this number may be accessed via TTY by calling
the Federal Information Relay Service at 1-800-877-8339.
SUPPLEMENTARY INFORMATION:
Background
On February 3, 1998, at 63 FR 5660, the Department published for
public comment a proposed rule that would amend 24 CFR 203.43h to
suspend the FHA Section 248 program for mortgage insurance on Indian
reservations. The suspension would be in effect whenever authority is
available for HUD to guarantee loans under the Section 184 Indian
Housing loan guarantee program.
The public comment period on the proposed rule expired on April 6,
1998. The Department received 34 comments, including 3 comments that
had been submitted before publication of the proposed rule. The
commenters were primarily Indian tribes or Indian housing authorities.
HUD also received comments from the Native American Indian Housing
Council, two State agencies, one Federal agency, a Federal Home Loan
Bank, two lenders, and two individuals.
Every commenter opposed the proposed rule and supported
continuation of the Section 248 program without suspension. The
commenters pointed out several advantages of the Section 248 program
over the Section 184 program, including: Section 248 is a permanent
program independent of the appropriations process; Section 248 has
lower upfront closing costs because no upfront MIP is required for
General Insurance Fund programs; and Section 184 cannot be used for
refinancing.
Upon consideration of these public comments, HUD has determined to
withdraw its proposed rule to suspend the Section 248 program.
Accordingly, the proposed rule to amend 24 CFR 203.43h, published
on February 3, 1998, at 63 FR 5660, entitled, Suspension of Authority
to Insure New FHA Single Family Mortgages on Indian Reservations
Pursuant to Section 248 of the National Housing Act, is hereby
withdrawn.
Dated: February 12, 1999.
William C. Apgar,
Assistant Secretary for Housing-Federal Housing Commissioner.
[FR Doc. 99-4239 Filed 2-19-99; 8:45 am]
BILLING CODE 4210-27-P
