[Federal Register Volume 73, Number 251 (Wednesday, December 31, 2008)]
[Rules and Regulations]
[Pages 80297-80298]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: E8-31060]


=======================================================================
-----------------------------------------------------------------------

DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT

24 CFR Part 203

[Docket No. FR-5087-F-05]
RIN 2502-AI52


Standards for Mortgagor's Investment in Mortgaged Property: 
Compliance With Court Order Vacating Final Rule

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

ACTION: Final rule.

-----------------------------------------------------------------------

SUMMARY: This final rule complies with a court order to vacate HUD's 
rule entitled ``Standards for Mortgagor's Investment in Mortgaged 
Property'' published on October 1, 2007.

DATES: Effective Date: January 30, 2009.

FOR FURTHER INFORMATION CONTACT: Margaret Burns, Director, Office of 
Single Family Program Development, Department of Housing and Urban 
Development, 451 Seventh Street, SW., Washington, DC 20410; telephone 
number 202-708-2121 (this is not a toll-free number). Persons with 
hearing or speech impairments may access this number through TTY by 
calling the toll-free Federal Information Relay Service at 800-877-
8339.

SUPPLEMENTARY INFORMATION: Pursuant to the February 29, 2008, order of 
the U.S. District Court for the Eastern District of California in 
Nehemiah Corporation of America v. Jackson, et al., No. S-07-2056 (E.D. 
Cal.), and the

[[Page 80298]]

March 5, 2008, order of the U.S. District Court for the District of 
Columbia in Ameridream Inc., et al., v. Jackson, No. 07-1752 (D.D.C.) 
and Penobscot Indian Nation, et al., v. HUD, No. 07-1282 (D.D.C.), 
which vacated the final rule entitled ``Standards for Mortgagor's 
Investment in Mortgaged Property'', published on October 1, 2007 (72 FR 
56002), this final rule removes the regulation at 24 CFR 203.19, and 
reserves Sec.  203.19.

Findings and Certifications

Justification for Final Rulemaking

    In general, HUD publishes a rule for public comment before issuing 
a final rule, in accordance with its own regulations on rulemaking at 
24 CFR part 10. Part 10, however, does provide, in Sec.  10.1, for 
exceptions from that general rule where the HUD finds good cause to 
omit advance notice and public participation. The good cause 
requirement is satisfied when the prior public procedure is 
``impracticable, unnecessary, or contrary to the public interest.'' HUD 
finds that good cause exists and prior public procedure is unnecessary 
because HUD has no discretion but to comply with the court order to 
vacate the October 1, 2007, final rule entitled, ``Standards for 
Mortgagor's Investment in Mortgaged Property.'' Public comment in this 
context would serve no purpose and is, therefore, unnecessary.

Environmental Review

    A Finding of No Significant Impact was not required for the October 
1, 2007 final rule. Under 24 CFR 50.19(b)(6), that rule was 
categorically excluded from the requirements of the National 
Environmental Policy Act (42 U.S.C. 4332 et seq.) and that categorical 
exclusion continues to apply.

Catalog of Federal Domestic Assistance

    The Catalog of Federal Domestic Assistance Number for the principal 
Federal Housing Administration (FHA) single family mortgage insurance 
program is 14.117. This rule also applies through cross-referencing to 
FHA mortgage insurance for condominium units (14.133), and other 
smaller single family programs.

List of Subjects in 24 CFR Part 203

    Loan programs--housing and community development, Mortgage 
insurance, Reporting and recordkeeping requirements.

0
Accordingly, the Department amends 24 CFR part 203, as follows:

PART 203--SINGLE FAMILY MORTGAGE INSURANCE

0
1. The authority citation for part 203 continues to read as follows:

    Authority: 12 U.S.C. 1709, 1710, 1715b, 1715z-16, and 1715u; 42 
U.S.C. 3535(d).


Sec.  203.19  [Removed and Reserved]

0
2. Section 203.19 is removed and reserved.

    Dated: December 19, 2008.
Ronald Y. Spraker,
Acting General Deputy Assistant Secretary for Housing--Acting Deputy 
Federal Housing Commissioner.
 [FR Doc. E8-31060 Filed 12-30-08; 8:45 am]
BILLING CODE 4210-67-P