[Federal Register Volume 61, Number 167 (Tuesday, August 27, 1996)]
[Rules and Regulations]
[Page 43966]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 96-21762]
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DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT
24 CFR Part 291
[Docket No. FR-3814-N-03]
RIN 2502-AG42
Office of the Assistant Secretary for Housing--Federal Housing
Commissioner; Sale of HUD-Held Single Family Mortgages; Notice of
Extension of Effective Period of Interim Rule
AGENCY: Office of the Assistant Secretary for Housing--Federal Housing
Commissioner, HUD.
ACTION: Interim rule; Postponement of expiration date.
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SUMMARY: On August 31, 1995, HUD published an interim rule to establish
policies and procedures for the sale of HUD-held single family
mortgages. The interim rule provided that its provisions would expire
and not be in effect after September 30, 1996, unless prior to that
date HUD publishes a document to extend the effective date. This
document extends the effective period of the interim rule until HUD
issues a final rule for the sale of HUD-held single family mortgages.
DATES: Effective August 27, 1996 the September 30, 1996 expiration date
for the interim rule adding 24 CFR 291.300 through 291.307 (subpart D)
is postponed until a final rule is published and made effective.
FOR FURTHER INFORMATION CONTACT: Joseph McCloskey, Director, Single
Family Servicing Division, Office of Housing, Room 9178, Department of
Housing and Urban Development, 451 Seventh Street SW, Washington, D.C.
20410, telephone (202) 708-1672. (This telephone number is not toll-
free.) Hearing- or speech-impaired individuals may access this number
via TTY by calling the Federal Information Relay Service at (800) 877-
8339.
SUPPLEMENTARY INFORMATION: HUD published an interim rule to establish
policies and procedures for the sale of HUD-held single family
mortgages on August 31, 1995 (60 FR 45331). (Note: HUD published a
correction to this interim rule on October 6, 1995 (60 FR 52296).) The
August 31, 1995 interim rule explained that HUD had adopted a policy of
setting an expiration date for an interim rule so that the regulatory
provisions would expire unless a final rule is published before that
date (60 FR 45332). This ``sunset'' provision appears in Sec. 291.300
of the interim rule, which provides that Secs. 291.300 through 291.307
shall expire and shall not be in effect after September 30, 1996,
unless prior to September 30, 1996 HUD publishes a final rule adopting
the interim rule with or without changes, or publishes a notice in the
Federal Register to extend the effective date of the interim rule.
The final rule for the sale of HUD-held single family mortgages is
currently in its final stages of development, and HUD anticipates that
it will publish the final rule in the fall of 1996. However, in order
to prevent a period in which the single family mortgage sale program is
without effective regulations, HUD is extending the effective period of
the August 31, 1995 interim rule until the final rule is published and
made effective.
Accordingly, the expiration date of the interim rule published in
the Federal Register on August 31, 1995 (60 FR 45331) is postponed
until a final rule is published and made effective.
Dated: August 20, 1996.
Nicolas P. Retsinas,
Assistant Secretary for Housing--Federal Housing Commissioner.
[FR Doc. 96-21762 Filed 8-26-96; 8:45 am]
BILLING CODE 4210-27-M
