Title 24 published on 04-Apr-2017 04:06
The following are
ALL rules, proposed rules, and notices (chronologically) published in the Federal Register relating to 24 CFR Part 234 after this date.
2016-09-28; vol. 81 # 188 - Wednesday, September 28, 2016
81 FR 66565 - Project Approval for Single-Family Condominiums
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DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT, HUD, Office of the Assistant Secretary for Housing—Federal Housing Commissioner
Comment due date: November 28, 2016.
24 CFR Parts 203 and 234
This proposed rule would implement HUD's authority under the single-family mortgage insurance provisions of the National Housing Act to insure one-family units in a multifamily project, including a project in which the dwelling units are attached, or are manufactured housing units, semi-detached, or detached, and an undivided interest in the common areas and facilities which serve the project. The rule would codify requirements for Direct Endorsement lenders to meet in order to be approved for the Direct Endorsement Lender Review and Approval Process (DELRAP) authority for condominiums, and basic standards that projects must meet to be approved as condominiums in which individual units would be eligible for mortgage insurance, as well as particular cases such as Single-Unit Approvals and site condominiums. The rule provides a method by which certain approval standards could be varied efficiently to meet market needs while providing for public comment where appropriate. Currently, single-family condominium project approval is provided under HUD's Condominium Project Approval and Processing Guide and related Mortgagee Letters. Condominiums under this rule are distinct from condominiums in which the project has a blanket mortgage insured by HUD.