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HUD/OH RIN: 2502-AH71 Publication ID: Spring 2005 
Title: Nonprofit Organization Participation in FHA Single Family Mortgage Insurance Programs (FR-4702) 
Abstract: This rule requires that once an eligible nonprofit organization has obtained, in a single fiscal year, Federal Housing Administration (FHA) insured financing for 10 or more single family (one- to four-unit) properties, it must prepay at least 80 percent of the FHA insured mortgages by the end of the second fiscal year following the fiscal year in which the FHA insured financing was acquired. The rule also codifies the existing practice of approving nonprofit organizations that provide evidence of having two consecutive years of tax-exempt status under the Internal Revenue Code of 1986, and of having two consecutive years of housing development experience within the previous five years. This final rule follows publication of a February 13, 2004, proposed rule and takes into consideration the public comments received on the proposed rule. 
Agency: Department of Housing and Urban Development(HUD)  Priority: Other Significant 
RIN Status: Previously published in the Unified Agenda Agenda Stage of Rulemaking: Final Rule Stage 
Major: No  Unfunded Mandates: No 
CFR Citation: 24 CFR 200    24 CFR 203    24 CFR 291   
Legal Authority: 12 USC 1701 et seq    42 USC 1441    42 USC 1441a    42 USC 1551a    42 USC 3535(d)    ...   
Legal Deadline:  None
Timetable:
Action Date FR Cite
NPRM  02/13/2004  69 FR 7324   
NPRM Comment Period End  04/13/2004    
Final Action  09/00/2005    
Regulatory Flexibility Analysis Required: No  Government Levels Affected: None 
Small Entities Affected: Organizations  Federalism: No 
Included in the Regulatory Plan: No 
Agency Contact:
Margaret Burns
Director, Office of Single Family Program Development
Department of Housing and Urban Development
Office of Housing
451 7th Street SW.,
Washington, DC 20410-0001
Phone:202 402-2121