[Federal Register Volume 78, Number 87 (Monday, May 6, 2013)]
[Notices]
[Page 26383]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2013-10676]


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DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT

[Docket No. FR-5703-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.

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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 2013.

DATES: Effective Date: January 1, 2013.

FOR FURTHER INFORMATION CONTACT: Thomas L. Goade, Director, Technical 
Support Division, Office of Multifamily Development, Office of Housing, 
Department of Housing and Urban Development, 451 Seventh Street SW., 
Washington, DC 20410-8000, telephone (202) 402-2727 (this is not a 
toll-free number). Hearing or speech-impaired individuals may access 
this number through TTY by calling the toll-free Federal Relay Service 
at (800) 877-8339.

SUPPLEMENTARY INFORMATION: The FHA Downpayment 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 sections of the National Housing Act 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 Consumer Financial 
Protection Bureau 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 2.3% and the 
effective date of the HOEPA adjustment is January 1, 2013. The Dollar 
Amounts have been adjusted correspondingly and have an effective date 
of January 1, 2013.
    The adjusted Dollar Amounts for Calendar Year 2013 are shown below:

Basic Statutory Mortgage Limits for Calendar Year 2013

Multifamily Loan Program

[ssquf] Section 207--Multifamily Housing
[ssquf] Section 207 pursuant to Section 223(f)--Purchase or Refinance 
Housing
[ssquf] Section 220--Housing in Urban Renewal Areas

------------------------------------------------------------------------
                Bedrooms                   Non-Elevator      Elevator
------------------------------------------------------------------------
0.......................................         $48,646          56,134
1.......................................          53,887          62,869
2.......................................           64367          77,091
3.......................................          79,336          96,552
4+......................................          89,818         109,173
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[ssquf] Section 213--Cooperatives

------------------------------------------------------------------------
                Bedrooms                   Non-Elevator      Elevator
------------------------------------------------------------------------
0.......................................         $52,719          56,134
1.......................................          60,785          63,598
2.......................................          73,310          77,335
3.......................................          93,837         100,047
4+......................................         104,540         109,823
------------------------------------------------------------------------

[ssquf] Section 234--Condominium Housing

------------------------------------------------------------------------
                Bedrooms                   Non-Elevator      Elevator
------------------------------------------------------------------------
0.......................................         $53,795          56,611
1.......................................          62,026          64,897
2.......................................          74,805          78,914
3.......................................          95,753         102,089
4+......................................         106,673         112,062
------------------------------------------------------------------------

[ssquf] Section 221(d)(4)--Moderate Income Housing

------------------------------------------------------------------------
                Bedrooms                   Non-Elevator      Elevator
------------------------------------------------------------------------
0.......................................         $48,413          52,296
1.......................................          54,955          59,951
2.......................................          66,427          72,900
3.......................................          83,378          94,308
4+......................................          94,482         103,522
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[ssquf] Section 231--Housing for the Elderly

------------------------------------------------------------------------
                Bedrooms                   Non-Elevator      Elevator
------------------------------------------------------------------------
0.......................................         $46,029          52,296
1.......................................          51,456          59,951
2.......................................          61,446          72,900
3.......................................          73,947          94,308
4+......................................          86,937         103,522
------------------------------------------------------------------------

[ssquf] Section 207--Manufactured Home Parks
Per Space--$22,333

    Dated: April 30, 2013.
Carol J. Galante,
Assistant Secretary for Housing--Federal Housing Commissioner.
[FR Doc. 2013-10676 Filed 5-3-13; 8:45 am]
BILLING CODE 4210-67-P