Several major Federal Register postings
Sorry for the gap in posting due to holidays. Catching up here on several major Federal Register regulatory items:
- The Federal Housing Finance Board has posted a 25-page proposed rule that would make major revisions to its Affordable Housing Program. The Board has issued a separate notice updating its definition of a "Community Financial Institution" by asset size -- now $587 million -- directors' pay rates, and handling of Affordable Housing Program contributions.
- HUD's final rule is out on electronic grant applications through the Grants.gov Web site. It looks like a pretty uniform requirement for all HUD grant applicants to use the online process unless they receive specific waivers to act otherwise. By reference to the existing 24 CFR 5.1001, the only applicants left out of the requirement are those seeking FHA insurance or "loan guarantees that are not associated with a grant program or grant award."
- All five of the federal banking regulators have issued a proposed guidance document on "nontraditional mortgage products," by which they appear to mean such things as interest-only mortgages. All five of the agencies can receive comments; those received by the Federal Reserve will be posted here.
- HUD has issued a highly technical notice for housing authorities on the coefficients used to calculate project expense levels under the new Operating Fund Formula for public housing operating subsidies.
- The CDFI Fund is requesting comments by Feb. 27, 2006 on its New Markets Tax Credit application.
- HUD is nicely making a formal request for comment on the computer template it uses to collect management operations information from housing authorities. There are further requests for comment on the lead hazard notification process and approval requirements imposed for FHA mortgagees and Ginnie Mae securities issuers.
- The Office of Thrift Supervision has posted a final rule, without prior notice or comment, issuing what it characterizes as "technical and conforming amendments" that "include clarifications and corrections of typographical errors." If anyone sees a substantive effect anywhere in this grab bag of small alterations, please do let us know.
- The Federal Housing Finance Board has posted a 25-page proposed rule that would make major revisions to its Affordable Housing Program. The Board has issued a separate notice updating its definition of a "Community Financial Institution" by asset size -- now $587 million -- directors' pay rates, and handling of Affordable Housing Program contributions.
- HUD's final rule is out on electronic grant applications through the Grants.gov Web site. It looks like a pretty uniform requirement for all HUD grant applicants to use the online process unless they receive specific waivers to act otherwise. By reference to the existing 24 CFR 5.1001, the only applicants left out of the requirement are those seeking FHA insurance or "loan guarantees that are not associated with a grant program or grant award."
- All five of the federal banking regulators have issued a proposed guidance document on "nontraditional mortgage products," by which they appear to mean such things as interest-only mortgages. All five of the agencies can receive comments; those received by the Federal Reserve will be posted here.
- HUD has issued a highly technical notice for housing authorities on the coefficients used to calculate project expense levels under the new Operating Fund Formula for public housing operating subsidies.
- The CDFI Fund is requesting comments by Feb. 27, 2006 on its New Markets Tax Credit application.
- HUD is nicely making a formal request for comment on the computer template it uses to collect management operations information from housing authorities. There are further requests for comment on the lead hazard notification process and approval requirements imposed for FHA mortgagees and Ginnie Mae securities issuers.
- The Office of Thrift Supervision has posted a final rule, without prior notice or comment, issuing what it characterizes as "technical and conforming amendments" that "include clarifications and corrections of typographical errors." If anyone sees a substantive effect anywhere in this grab bag of small alterations, please do let us know.
posted by Martha Bridegam at 10:39 AM
<< Home