51638 Federal Register / Vol. 82, No. 214 / Tuesday, November 7, 2017 / Notices 

Dated: November 1, 2017. 

Natasha M. Copeland, 

Program Analyst, Office of Federal Advisory 

Committee Policy. 

[FR Doc. 2017–24143 Filed 11–6–17; 8:45 am] 

BILLING CODE 4140–01–P 

DEPARTMENT OF HOUSING AND 

URBAN DEVELOPMENT 

[Docket No. FR–6045–N–01] 

Annual Indexing of Basic Statutory 

Mortgage Limits for Multifamily 

Housing Programs 

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 

2017. 

DATES: January 1, 2017. 

FOR FURTHER INFORMATION CONTACT: 

Daniel J. Sullivan, Deputy Director, 

Office of Multifamily Development, 

Department of Housing and Urban 

Development, 451 Seventh Street SW., 

Washington, DC 20410–8000, telephone 

(202) 402–6130 (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 

Down Payment 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: 

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)). 

The Dollar Amounts in these sections 

are the base per unit statutory limits for 

FHA’s multifamily mortgage programs 

collectively referred to as the ‘Dollar 

Amounts.’ They are adjusted annually 

(commencing in 2004) on the effective 

date of the Consumer Financial 

Protection Bureau’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 Bureau of 

Consumer Financial Protection 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 2.1 

percent and the effective date of the 

HOEPA adjustment is January 1, 2017. 

The Dollar Amounts have been adjusted 

correspondingly and have an effective 

date of January 1, 2017. 

These revised statutory limits, high 

cost areas and per unit cost thresholds 

for substantial rehabilitation may be 

applied to FHA multifamily mortgage 

insurance applications submitted or 

amended on or after July 1, 2017, so 

long as the loan has not been initially 

endorsed. 

The adjusted Dollar Amounts for 

Calendar Year 2017 are shown below: 

Basic Statutory Mortgage Limits for 

Calendar Year 2017 

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 Elevator 

0 ................ $51,575 $60,158 

1 ................ 57,133 66,657 

2 ................ 68,244 81,734 

3 ................ 84,116 102,368 

4+ .............. 95,228 115,749 

Section 213—Cooperatives 

Bedrooms Non-elevator Elevator 

0 ................ $55,894 $59,515 

1 ................ 64,447 67,428 

2 ................ 77,725 81,993 

3 ................ 99,489 106,073 

4+ .............. 110,837 116,438 

Section 234—Condominium Housing 

Bedrooms Non-elevator Elevator 

0 ................ $57,035 $60,021 

1 ................ 65,762 68,806 

2 ................ 79,311 83,667 

3 ................ 101,521 108,239 

4+ .............. 113,098 118,812 

Section 221(d)(4)—Moderate Income 

Housing 

Bedrooms Non-elevator Elevator 

0 ................ $51,328 $55,445 

1 ................ 58,266 63,562 

2 ................ 70,429 77,291 

3 ................ 88,400 99,988 

4+ .............. 99,890 109,758 

Section 231—Housing for the Elderly 

Bedrooms Non-elevator Elevator 

0 ................ $48,800 $55,445 

1 ................ 54,555 63,562 

2 ................ 65,147 77,291 

3 ................ 78,401 99,988 

4+ .............. 92,173 109,758 

Section 207—Manufactured Home Parks 

Per Space—$23,678 

Per Unit Limit for Substantial 

Rehabilitation for Calendar Year 2017 

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.D.2 

of the MAP guide requires that this base 

amount be adjusted periodically based 

on the percentage change published by 

the Consumer Financial Protection 

Bureau or other inflation cost index 

published by HUD. Accordingly, the 

2017 base amount per dwelling unit to 

determine substantial rehabilitation for 

FHA insured loan programs is $15,315. 

Environmental Impact 

This issuance establishes mortgage 

and cost limits that do not constitute a 

development decision 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). 

Dated: October 31, 2017. 

Dana T. Wade, 

General Deputy Assistant Secretary for 

Housing. 

[FR Doc. 2017–24171 Filed 11–6–17; 8:45 am] 

BILLING CODE 4210–67–P 


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