[Federal Register Volume 61, Number 167 (Tuesday, August 27, 1996)]
[Rules and Regulations]
[Page 43966]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 96-21762]


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DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT

24 CFR Part 291

[Docket No. FR-3814-N-03]
RIN 2502-AG42


Office of the Assistant Secretary for Housing--Federal Housing 
Commissioner; Sale of HUD-Held Single Family Mortgages; Notice of 
Extension of Effective Period of Interim Rule

AGENCY: Office of the Assistant Secretary for Housing--Federal Housing 
Commissioner, HUD.

ACTION: Interim rule; Postponement of expiration date.

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SUMMARY: On August 31, 1995, HUD published an interim rule to establish 
policies and procedures for the sale of HUD-held single family 
mortgages. The interim rule provided that its provisions would expire 
and not be in effect after September 30, 1996, unless prior to that 
date HUD publishes a document to extend the effective date. This 
document extends the effective period of the interim rule until HUD 
issues a final rule for the sale of HUD-held single family mortgages.

DATES: Effective August 27, 1996 the September 30, 1996 expiration date 
for the interim rule adding 24 CFR 291.300 through 291.307 (subpart D) 
is postponed until a final rule is published and made effective.

FOR FURTHER INFORMATION CONTACT: Joseph McCloskey, Director, Single 
Family Servicing Division, Office of Housing, Room 9178, Department of 
Housing and Urban Development, 451 Seventh Street SW, Washington, D.C. 
20410, telephone (202) 708-1672. (This telephone number is not toll-
free.) Hearing- or speech-impaired individuals may access this number 
via TTY by calling the Federal Information Relay Service at (800) 877-
8339.

SUPPLEMENTARY INFORMATION: HUD published an interim rule to establish 
policies and procedures for the sale of HUD-held single family 
mortgages on August 31, 1995 (60 FR 45331). (Note: HUD published a 
correction to this interim rule on October 6, 1995 (60 FR 52296).) The 
August 31, 1995 interim rule explained that HUD had adopted a policy of 
setting an expiration date for an interim rule so that the regulatory 
provisions would expire unless a final rule is published before that 
date (60 FR 45332). This ``sunset'' provision appears in Sec. 291.300 
of the interim rule, which provides that Secs. 291.300 through 291.307 
shall expire and shall not be in effect after September 30, 1996, 
unless prior to September 30, 1996 HUD publishes a final rule adopting 
the interim rule with or without changes, or publishes a notice in the 
Federal Register to extend the effective date of the interim rule.
    The final rule for the sale of HUD-held single family mortgages is 
currently in its final stages of development, and HUD anticipates that 
it will publish the final rule in the fall of 1996. However, in order 
to prevent a period in which the single family mortgage sale program is 
without effective regulations, HUD is extending the effective period of 
the August 31, 1995 interim rule until the final rule is published and 
made effective.
    Accordingly, the expiration date of the interim rule published in 
the Federal Register on August 31, 1995 (60 FR 45331) is postponed 
until a final rule is published and made effective.

    Dated: August 20, 1996.
Nicolas P. Retsinas,
Assistant Secretary for Housing--Federal Housing Commissioner.
[FR Doc. 96-21762 Filed 8-26-96; 8:45 am]
BILLING CODE 4210-27-M