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[Federal Register Volume 90, Number 11 (Friday, January 17, 2025)]
[Rules and Regulations]
[Pages 5604-5605]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2025-01300]

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DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT

24 CFR Parts 58 and 1005

[Docket No. FR-5593-N-05]
RIN 2577-AD01

Strengthening the Section 184 Indian Housing Loan Guarantee 
Program; Extension of Compliance Date

AGENCY: Office of the Assistant Secretary for Public and Indian 
Housing, HUD.

ACTION: Final rule; extension of compliance date.

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SUMMARY: This document extends the compliance date for HUD's final rule 
entitled ``Strengthening the Section 184 Indian Housing Loan Guarantee 
Program'' (the final rule). HUD is

[[Page 5605]]

extending the compliance date from March 1, 2025, to December 31, 2025 
to provide additional time for HUD to develop and implement a 
comprehensive handbook, to prepare new forms, and to allow Tribes, 
lenders, servicers, and other participants time to conform their 
policies, procedures, and systems to comply with the final rule.

DATES: The compliance date announced on June 14, 2024, at 89 FR 20032, 
is extended from March 1, 2025, to December 31, 2025.

FOR FURTHER INFORMATION CONTACT: Chung-Yiu ``Andrew'' Lee, Senior 
Native American Policy Advisor, Office of Loan Guarantee, Office of 
Native American Programs, Office of Public and Indian Housing, 
Department of Housing and Urban Development, 451 7th Street SW, Room 
4108, Washington, DC 20410; email at [email protected] or 
telephone number 202-402-6190 (this is not a toll-free number). HUD 
welcomes and is prepared to receive calls from individuals who are deaf 
or hard of hearing, as well as individuals with speech or communication 
disabilities. To learn more about how to make an accessible telephone 
call, please visit https://www.fcc.gov/consumers/guides/telecommunications-relay-service-trs.

SUPPLEMENTARY INFORMATION: 

I. Background

    On March 20, 2024, HUD published the final rule (89 FR 20032), 
which amended the regulations to the Section 184 Indian Housing Loan 
Guarantee Program (Section 184 Program). Since its inception, the 
Section 184 Program has experienced an increase in demand. As a result, 
the final rule updated program regulations to minimize potential risk 
and increase program participation by financial institutions, and added 
eligibility and participation requirements for Lender Applicants, 
Direct Guarantee Lenders, Non-Direct Guarantee Lenders, Holders and 
Servicers and other Section 184 Program participants. The final rule 
also clarified the rules governing Tribal participation in the program, 
established underwriting requirements, specifies rules on the closing 
and endorsement process, established stronger and clearer servicing 
requirements, established program rules governing claims submitted by 
servicers and paid by HUD, and added standards governing monitoring, 
reporting, sanctions, and appeals. Lastly, the final rule added new 
definitions and makes statutory conforming amendments, including the 
categorical exclusion of the Section 184 Program in HUD's environmental 
review regulations.
    On June 14, 2024, HUD published a document in the Federal Register 
(89 FR 50523) announcing that the final rule's effective date would be 
delayed from June 18, 2024, to December 31, 2024, with a compliance 
date of March 1, 2025.

II. Delay of Compliance Date

    HUD is currently drafting a handbook to implement the final rule. 
The handbook will provide comprehensive guidance and clarification for 
all stakeholders to fully understand and implement the final rule. 
Given the size of the handbook, its accompanying forms, and level of 
additional consultation with stakeholders needed to complete the 
handbook, HUD has determined that it needs additional time to draft 
this document. Further, HUD has heard from Tribes, lenders, servicers, 
and other participants that additional time is needed after the 
publication of the handbook for these stakeholders to conform their 
policies, procedures, and systems to comply with handbook and the final 
rule. As a result of these factors, HUD is extending the compliance 
date of March 1, 2025, established at 89 FR 50523, to December 31, 
2025.

Dominique Blom,
General Deputy Assistant, Secretary for Public and Indian Housing.
[FR Doc. 2025-01300 Filed 1-16-25; 8:45 am]
BILLING CODE 4210-67-P
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