[Federal Register Volume 66, Number 20 (Tuesday, January 30, 2001)]
[Rules and Regulations]
[Pages 8175-8176]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 01-2562]


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DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT

24 CFR Part 221

[Docket No. FR-4588-F-03]
RIN 2502-AH50


Discontinuation of the Section 221(d)(2) Mortgage Insurance 
Program; Delay of Effective Date

AGENCY: Office of the Secretary, HUD.

ACTION: Final rule; delay of effective date.

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SUMMARY: This document advises the public that the final rule published 
on January 19, 2001, which discontinues the section 221(d)(2) mortgage 
insurance program, will take effect on April 20, 2001. As provided in 
the ``Supplementary Information'' section of this final rule, this 
delay in the effective date is made in response to a White House 
memorandum of January 20, 2001. Given the imminence of the effective 
date of this rule, seeking prior public comment in accordance with 
HUD's regulations on rulemaking would have been impractical, as well as 
contrary to the public interest in the orderly promulgation and 
implementation of regulations.

DATES: The effective date of the final rule amending 24 CFR part 221 
published at 66 FR 5912 (January 19, 2001) is delayed from February 20, 
2001, until April 20, 2001.

FOR FURTHER INFORMATION CONTACT: Vance T. Morris, Director, Office of 
Single Family Program Development, Office of Insured Single Family 
Housing, Room 9266, U.S. Department of Housing and Urban Development, 
451 Seventh Street, SW., Washington, DC 20410-8000; telephone (202) 
708-2121 (this is not a toll-free number). Hearing- or speech-impaired 
individuals may access this number via TTY by calling the toll-free 
Federal Information Relay Service at (800) 877-8339.

SUPPLEMENTARY INFORMATION: On January 19, 2001 (66 FR 5912), HUD 
published a final rule to discontinue the section 221(d)(2) mortgage 
insurance program. The January 19, 2001 final rule follows publication 
of a September 28, 2000 proposed rule. Since no public

[[Page 8176]]

comments were received on the proposed rule, the January 19, 2001 final 
rule adopts the proposed regulatory amendments without change.
    The section 221(d)(2) program is rarely used by homebuyers, 
primarily due to its low mortgage limits. Moreover, the section 
221(d)(2) program provides few homeownership opportunities not already 
made available by other HUD mortgage insurance programs. For these 
reasons, HUD decided to discontinue the section 221(d)(2) program and 
issued the January 19, 2001 final rule.
    The January 19, 2001 final rule provides for the rule to take 
effect on February 20, 2001. On January 20, 2001, the White House 
issued a memorandum to the heads and acting heads of all Executive 
Departments and Agencies regarding regulatory review. The January 20, 
2001 memorandum instructs the agencies to temporarily postpone the 
effective dates of their regulations that have been published in the 
Federal Register but have not yet taken effect by 60 days. Consistent 
with the directive of the January 20, 2001 White House memorandum, the 
purpose of this document is to give notice that the effective date of 
the January 19, 2001 final rule has been changed to April 20, 2001.
    Accordingly, HUD's final rule published on January 19, 2001 at 66 
FR 5912 (Docket No. FR-4588-F-02, FR Doc. 01-1534) will take effect on 
April 20, 2001.

    Dated: January 24, 2001.
Mel Martinez,
Secretary.
[FR Doc. 01-2562 Filed 1-29-01; 8:45 am]
BILLING CODE 4210-32-P