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HUD/OH RIN: 2502-AI90 Publication ID: Spring 2011 
Title: FHA Mortgage Insurance for Existing Multifamily Homeownership Projects Under Section 223 (f) of the National Housing Act (FR-5395-P-01) 
Abstract: HUD proposes to revise its regulations governing the eligibility for Federal Housing Administration (FHA) insurance of mortgages used for the purchase or refinancing of existing multifamily housing projects. Although the statutory language authorizing such insurance does not distinguish between rental or homeownership multifamily projects, HUD's current regulations limit FHA insurance to existing rental projects. Given the downturn in the mortgage lending market, the Department has determined the time is appropriate to reconsider this regulatory imposed limitation. FHA mortgage insurance could significantly improve the availability of funds and permit more favorable interest rates than would otherwise be likely. Accordingly, this proposed rule would revise HUD's regulations to more closely track the statutory language and thereby enable existing homeownership multifamily project owners to obtain FHA insurance for the purchase or refinancing of their mortgage loans. 
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 200   
Legal Authority: 12 USC 1703    12 USC 1709    12 USC 1715 (b)    12 USC 3035 (d)   
Legal Deadline:  None
Timetable:
Action Date FR Cite
Duplicate of 2502-AI92  02/28/2011    
Regulatory Flexibility Analysis Required: No  Government Levels Affected: None 
Small Entities Affected: Businesses  Federalism: No 
Included in the Regulatory Plan: No 
RIN Data Printed in the FR: No 
Agency Contact:
Joyce Allen
Director,Office of Multifamily Housing Development
Department of Housing and Urban Development
Office of Housing
HUD, 451 7th Street SW.,
Washington, DC 20410
Phone:202 708-1142
TDD Phone:800 877-8339