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 Department of Housing and Urban Development [Docket No. FR-6314-N-01]
 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 is providing notice of adjustment to the Basic Statutory Mortgage Limits for Multifamily Housing Programs for Calendar Year 2022. HUD is also providing notice of adjustment to the per unit cost threshold for determining substantial rehabilitation in the Multifamily Housing Programs pursuant to its administrative guidance for Calendar Year 2022.
 DATES: Applicable date: January 1, 2022.
 FOR FURTHER INFORMATION CONTACT: Thomas Bernaciak, Deputy Director, Office of Multifamily Production, Department of Housing and Urban Development, 451 Seventh Street SW, Washington, DC 20410-8000, telephone (202) 402-3242 (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: Section 206A of the National Housing Act (12 U.S.C. 1712a) provides authority for the annual adjustment for the following FHA multifamily statutory dollar limits: I. Section 207(c)(3)(A) (12 U.S.C. 1713(c)(3)(A)); II. Section 213(b)(2)(A) (12 U.S.C. 1715e(b)(2)(A)); III. Section 220(d)(3)(B)(iii)(I) (12 U.S.C. 1715k(d)(3)(B)(iii)(I)); IV. Section 221(d)(4)(ii)(I) (12 U.S.C. 1715l(d)(4)(ii)(I)); V. Section 231(c)(2)(A) (12 U.S.C. 1715v(c)(2)(A)); and VI. Section 234(e)(3)(A) (12 U.S.C. 1715y(e)(3)(A)). Section 206A states that the preceding “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). 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. (b) Notification The Federal Reserve Board on a timely basis shall notify the Secretary, or his designee, in writing of the adjustment described in subsection (a) and of the effective date of such adjustment to permit the Secretary to undertake publication in the 
                    **Federal Register**
                     of corresponding adjustments to the Dollar Amounts. The dollar amount of any adjustment shall be rounded to the next lower dollar. Note that 206A has not been updated to reflect the fact that HOEPA has been revised to use $1,000 as the basis for the adjustment rather than $400, and the Consumer Finance Protection Bureau has replaced the Federal Reserve Board in administering the adjustment. These changes were made by the Dodd-Frank Wall Street Reform and Consumer Protection Act's amendments to the Truth in Lending Act, as further explained in the regulatory implementation of said changes found in the 
                    **Federal Register**
                     notice published on January 31, 2013 (78 FR 6856, 6879). The percentage change in the CPI-U used for the HOEPA adjustment is a 4.2 percent increase and the effective date of the HOEPA adjustment is January 1, 2022. The Dollar Amounts under Section 206A have been adjusted correspondingly and have an effective date of January 1, 2022, in accordance with the 
                    **Federal Register**
                     notice published on November 2, 2021 (86 FR 60357). These revised statutory limits may be applied to FHA multifamily mortgage insurance applications submitted or amended on or after January 1, 2022, so long as the loan has not been initially endorsed. The adjusted Dollar Amounts for Calendar Year 2022 are shown below. Basic Statutory Mortgage Limits for Calendar Year 2022 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
$57,197
$66,7151
63,360
73,9232
75,683
90,6433
93,285
113,5264+
105,608
128,367
 Section 213—Cooperatives Bedrooms
Non-elevator
Elevator0
$61,986
$66,0021
71,472
74,7782
86,197
90,9303
110,334
117,6364+
122,920
129,131
 Section 234—Condominium Housing Bedrooms
Non-elevator
Elevator0
$63,251
$66,5641
72,930
76,3052
87,956
92,7893
112,588
120,0394+
125,427
131,765
 Section 221(d)(4)—Moderate Income Housing Bedrooms
Non-elevator
Elevator0
$56,922
$61,4881
64,617
70,4902
78,107
85,7173
98,036
110,8874+
110,779
121,723
 Section 231—Housing for the Elderly Bedrooms
Non-elevator
Elevator0
$54,118
$61,4881
60,501
70,4902
72,248
85,7173
86,947
110,8874+
102,221
121,723
 Section 207—Manufactured Home Parks per Space—$26,258 Indexing of per Unit Limit for Substantial Rehabilitation for Calendar Year 2022
                    ( print page 15259) The 2016 Multifamily Accelerated Processing (MAP) Guide established a base amount of $15,000 per unit to define substantial rehabilitation for FHA insured loan programs. Section 5.1.2.A.2.b of the 2020 MAP guide requires that this base amount be annually adjusted for inflation based on the percentage change published by the Bureau of Labor Statistics of the Department of Labor or other inflation cost index. Applying the HOEPA adjustment to the base amount, the 2022 base amount per dwelling unit to determine substantial rehabilitation for FHA insured loan programs is $16,983. This per unit cost threshold for substantial rehabilitation may be applied to FHA multifamily mortgage insurance applications submitted or amended on or after January 1, 2022, so long as the loan has not been initially endorsed. Environmental Impact This notice involves the statutorily required establishment of mortgage limits and discretionary establishment of cost limits which do not constitute development decisions affecting the physical condition of specific project areas or building sites. Accordingly, under 24 CFR 50.19(c)(6), this notice is categorically excluded from environmental review under the National Environmental Policy Act of 1969 (42 U.S.C. 4321). Lopa P. Kolluri, Principal Deputy Assistant Secretary for the Office of Housing—Federal Housing Administration.


[FR Doc. 2022-05578 Filed 3-16-22; 8:45 am] BILLING CODE 4210-67-P