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HUD/HUDSEC RIN: 2501-AC44 Publication ID: Fall 2000 
Title: Amendments to HUD's Mortgagee Review Board and Civil Money Penalty Regulations (FR-4308) 
Abstract: This rule makes conforming changes to HUD regulations to reflect statutory changes made by the Multifamily Assisted Housing Reform and Affordability Act of 1997 (the Multifamily Reform Act). Among other amendments, the Multifamily Reform Act provides that a suspension issued by the HUD Mortgagee Review Board is effective, without previous 30-day written notice of violation to the mortgagee, if there is sufficient evidence that immediate action is required to protect the financial interests of HUD or the public. The Multifamily Reform Act also expanded the list of persons and types of violations subject to a civil money penalty under HUD's insured housing programs. The rule also makes three clarifying nonsubstantive amendments to these regulations. The first clarifies under what conditions HUD's Mortgagee Review Board may issue a suspension. The second amendment clarifies the effect of a suspension or withdrawal issued by the Board. The third clarifies that the Assistant Secretary for Public and Indian Housing may initiate a civil money penalty under the section 184 Indian housing loan guarantee program. 
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 25    24 CFR 30   
Legal Authority: 12 USC 1701q to 1    12 USC 1703    12 USC 1708(c) to 1708(d)    12 USC 1709(s)    12 USC 1715b    12 USC 1723i    12 USC 1735f-14    12 USC 1735f-15    15 USC 1717a    28 USC 2461 note    42 USC 3535(d)   
Legal Deadline:  None
Timetable:
Action Date FR Cite
Interim Final Rule  02/23/2000  65 FR 9084   
Interim Final Rule Effective  03/24/2000    
Interim Final Rule Comment Period End  04/24/2000    
Final Action  06/21/2000  65 FR 38710   
Final Action Effective  07/21/2000    
Regulatory Flexibility Analysis Required: No  Government Levels Affected: None 
Federalism: No 
Included in the Regulatory Plan: No 
Agency Contact:
Dane Narode
Deputy Chief Counsel for Administrative Proceedings
Department of Housing and Urban Development
Enforcement Center
Phone:202 708-2350