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HUD/OH RIN: 2502-AI57 Publication ID: Fall 2008 
Title: FHA-Insured Mortgage Loans on Condominium Projects Consisting of Fewer Than Four Units (FR-5135) 
Abstract: The National Housing Act authorizes the Secretary to issue an individual mortgage on a one-family unit in a multifamily project and an undivided interest in the project’s common areas and facilities, when certain conditions are met. HUD’s regulations define “project” as a structure that consists of four or more units. This rule would allow the placement of FHA-insured mortgages on units in condominium projects consisting of less than four units. The definition of project as a structure of four or more units was established many years ago to insure proper maintenance of the condominium project’s common areas. The marketplace, however, is now accepting condominium projects of fewer than four units. 
Agency: Department of Housing and Urban Development(HUD)  Priority: Substantive, Nonsignificant 
RIN Status: Previously published in the Unified Agenda Agenda Stage of Rulemaking: Completed Actions 
Major: No  Unfunded Mandates: No 
CFR Citation: 24 CFR 234   
Legal Authority: 12 USC 1715b    12 USC 1715y    42 USC 3535(d)   
Legal Deadline:  None
Timetable:
Action Date FR Cite
Withdrawn  08/29/2008    
Regulatory Flexibility Analysis Required: No  Government Levels Affected: None 
Small Entities Affected: No  Federalism: No 
Included in the Regulatory Plan: No 
RIN Data Printed in the FR: No 
Agency Contact:
James Beavers
Deputy Director, Office of Single Family Program Development
Department of Housing and Urban Development
Office of Housing
Phone:202 402-2205