[Federal Register Volume 60, Number 62 (Friday, March 31, 1995)]
[Rules and Regulations]
[Pages 16571-16572]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 95-8053]
=======================================================================
-----------------------------------------------------------------------
DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT
Office of the Assistant Secretary for Housing-Federal Housing
Commissioner
24 CFR Parts 204 and 267
[Docket No. R-95-1626; FR-3027-C-03]
RIN 2502-AF25
Appraisals and Property Valuation; Corrections
AGENCY: Office of the Assistant Secretary for Housing-Federal Housing
Commissioner, HUD.
ACTION: Final rule; Corrections.
-----------------------------------------------------------------------
SUMMARY: On October 3, 1994 (59 FR 50456), the Department published in
the Federal Register, a final rule that established minimum standards
for real estate appraisals made by staff, fee panel and contract
appraisers in determining the maximum insurable mortgage amount in most
HUD/FHA single family (one-to-four family) and multifamily
transactions; and established criteria for the selection of appraisers
by mortgagees. That rule erroneously revised a nonexistent
Sec. 204.3(b), which had previously been removed by the complete
revision of 24 CFR part 204 on August 5, 1994 (59 FR 39956). To avoid
further confusion, this document removes Sec. 204.3(b).
The October 3 final rule also added a new part 267 to title 24 of
the Code of Federal Regulations. This document clarifies and corrects
cross-references contained in Secs. 267.3(c)(1) and (c)(2).
EFFECTIVE DATE: December 2, 1994.
FOR FURTHER INFORMATION CONTACT: For single family programs: Morris
Carter, [[Page 16572]] Director of the Single Family Development
Division, Room 9270, Department of Housing and Urban Development, 451
Seventh Street, SW, Washington, DC 20410-8000, telephone, voice: (202)
708-2720; (TDD) (202) 708-4594. (These are not toll-free numbers.)
For multifamily programs: Linda Cheatham, Director, Office of
Insured Multifamily Development, Room 6134, Department of Housing and
Urban Development, 451 Seventh Street, SW, Washington, DC 20410-8000,,
telephone, voice: (202) 708-3000; (TDD) 708-4594. (These are not toll-
free numbers).
SUPPLEMENTARY INFORMATION: On August 5, 1994 (59 FR 39956), the
Department published in the Federal Register a final rule that revised,
in its entirety, 24 CFR Part 204. With that revision, only one section
(Sec. 204.1) remained in Part 204.
On October 3, 1994 (59 FR 50456), the Department published a final
rule establishing minimum standards for real estate appraisals made by
staff, fee panel and contract appraisers in determining the maximum
insurable mortgage amount in most HUD/FHA single family (one-to-four
family) and multifamily transactions; and establishing criteria for the
selection of appraisers by mortgagees. The October 3 rule erroneously
revised a nonexistent 24 CFR 204.3(b). It also added a new part 267 to
title 24 of the Code of Federal Regulations.
In addition, on December 2, 1994 (59 FR 61800), the Department
published a correction document to the October 3 final rule. In the
December 2 document, Sec. 267.3 was corrected by removing the paragraph
designations for paragraphs (c)(3)(i), (ii), and (iii) of that section,
and by running the text together to form a single paragraph (c)(3). The
document failed, however, to remove two cross-references to paragraph
(c)(3)(iii), which were contained in Secs. 267.3(c)(1) and (c)(2).
The purpose of this document is to correct errors made in the
October 3, 1994 final rule by removing the revision to Sec. 204.3(b),
and by amending Sec. 267.3 to remove cross-references contained in
Secs. 267.3(c)(1) and (c)(2).
Accordingly, FR Doc. 94-24327, a final rule published in the
Federal Register on October 3, 1994 (59 FR 50456), is corrected as
follows:
Sec. 204.3 [Amended]
1. On page 50464, in column one, amendatory instruction 6. and
Sec. 204.3(b) are removed.
Sec. 267.3 [Amended]
2. On page 50465, in column one, in Sec. 267.3, paragraph (c)(1) is
corrected by removing the phrase ``paragraph (c)(3)(iii) of this
section.'', and by adding in its place ``paragraph (c)(3) of this
section.''
3. On page 50465, in column one, in Sec. 267.3, paragraph (c)(2) is
corrected by removing the phrase ``paragraph (c)(3)(iii) of this
section.'', and by adding in its place ``paragraph (c)(3) of this
section.''
Dated: March 28, 1995.
Camille E. Acevedo,
Assistant General Counsel for Regulations.
[FR Doc. 95-8053 Filed 3-30-95; 8:45 am]
BILLING CODE 4210-27-P