Document headings vary by document type but may contain
                    the following: the agency or agencies that issued and signed a document
the number of the CFR title and the number of each part
                      the document amends, proposes to amend, or is directly
                      related to
the agency docket number / agency internal file number
the RIN which identifies each regulatory action listed in
                      the Unified Agenda of Federal Regulatory and Deregulatory
                      Actions See the
                    Document Drafting Handbook
                    for more details.
 Department of Housing and Urban Development [Docket No. FR-4964-N-03]
 AGENCY: Office of the Assistant Secretary for Housing—Federal Housing Commissioner, HUD.
 ACTION: Notice.
 SUMMARY: In accordance with section 206A of the National Housing Act, HUD has adjusted the basic statutory mortgage limits for multifamily housing programs for calendar year 2007.
 DATES: *Effective Date:*
                         January 1, 2007.
 FOR FURTHER INFORMATION CONTACT: Joseph E. Malloy, Acting Director, Office of Multifamily Development, Department of Housing and Urban Development, 451 Seventh Street, SW., Washington, DC 20410-8000, telephone (202) 708-1142 (this is not a toll-free number). Hearing- or speech-impaired individuals may access this number through TTY by calling the toll-free Federal Information Relay Service at (800) 877-8339.


SUPPLEMENTARY INFORMATION: The FHA Downpayment Simplification Act of 2002 (Pub. L. 107-326, approved December 4, 2002) amended the National Housing Act by adding a new section 206A (12 U.S.C. 1712a). Under section 206A, the following are affected: (1) Section 207(c)(3)(A) (12 U.S.C. 1713(c)(3)(A)); (2) Section 213(b)(2)(A) (12 U.S.C. 1715e(b)(2)(A)); (3) Section 220(d)(3)(B)(iii)(I) (12 U.S.C. 1715k(d)(3)(B)(iii)(I)); (4) Section 221(d)(3)(ii)(I) (12 U.S.C. 1715l(d)(3)(ii)(I)); (5) Section 221(d)(4)(ii)(I) (12 U.S.C. 1715l(d)(4)(ii)(I)); (6) Section 231(c)(2)(A) (12 U.S.C. 1715v(c)(2)(A)); and (7) Section 234(e)(3)(A) (12 U.S.C. 1715y(e)(3)(A)). The dollar amounts in these sections, which are collectively referred to as the “Dollar Amounts,” shall be adjusted annually (commencing in 2004) on the effective date of the Federal Reserve Board's adjustment of the $400 figure in the Home Ownership and Equity Protection Act of 1994 (HOEPA) (Pub. L. 103-325, approved September 23, 1994). The adjustment of the Dollar Amounts shall be calculated using the percentage change in the Consumer Price Index for All Urban Consumers (CPI-U) as applied by the Federal Reserve Board for purposes of the above-described HOEPA adjustment. HUD has been notified of the percentage change in the CPI-U used for the HOEPA adjustment and the effective date of the HOEPA adjustment. The percentage change in the CPI-U is 3.55 percent and the effective date of the HOEPA adjustment is January 1, 2007. The Dollar Amounts have been adjusted correspondingly and have an effective date of January 1, 2007. The adjusted Dollar Amounts for calendar year 2007 are shown below: Basic Statutory Mortgage Limits for Calendar Year 2007 Multifamily Loan Program Section 207—Multifamily Housing.
                Section 207 pursuant to section 223(f)—Purchase or refinance housing.
                Section 220—Housing in urban renewal areas. Bedrooms
Non-
                             elevator
Elevator0
$42,614
49,1711
47,203
55,0712
56,381
67,5283
69,494
84,5744+
78,674
95,627
 Section 213—Cooperatives. Bedrooms
Non-
                             elevator0
$46,1801
53,2452
64,2163
82,1954+
91,570
 Section 221(d)(3)—Moderate income housing.
                Section 234—Condominium housing. Bedrooms
Non-
                             elevator
Elevator0
$47,122
49,5901
54,332
56,8452
65,525
69,1243
83,873
89,4234+
93,438
98,160
 Section 221(d)(4)—Moderate income housing. Bedrooms
Non-
                             elevator
Elevator0
$42,408
45,8091
48,138
52,5142
58,186
63,8563
73,034
82,6084+
82,760
90,679
 Section 231—Housing for the Elderly. Bedrooms
Non-
                             elevator
Elevator0
$40,320
45,8091
45,074
52,5142
53,825
63,8563
64,773
82,6084+
76,151
90,679
 Section 207—Manufactured Home Parks. Per Space—$19,565 Dated: April 2, 2007. Brian D. Montgomery, Assistant Secretary for Housing—Federal Housing Commissioner.


[FR Doc. E7-6654 Filed 4-9-07; 8:45 am] BILLING CODE 4210-67-P