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2016-11-01
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Section 184 Indian Housing Loan Guarantee Program Increase to Annual Premium
Notices
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United States
Department of Housing and Urban Development
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United States Government Agency or Subagency
The Section 184 Indian Housing Loan Guarantee program (Section 184 program) is a home mortgage program specifically designed for American Indian and Alaska Native families, Alaska villages, tribes, or tribally designated housing entities. Over the last five years, the Section 184 program has doubled the number of loans and eligible families being assisted by the program. For HUD to continue to meet the increasing demand for participation in this program, HUD is exercising its authority to increase the annual premium to the borrower from 0.15 to 0.25 percent of the remaining loan balance. This annual premium will continue until the unpaid principal balance, excluding the upfront loan guarantee fee, reaches 78 percent of the lower of the initial sales price or appraised value based on the initial amortization schedule. Effective December 1, 2016 the new annual premium of 0.25 percent of the remaining loan balance will apply to all new loan guarantees, including refinances.
81 FR 75836
https://www.govinfo.gov/app/details/FR-2016-11-01/2016-26331
2016-26331
fr01no16-61
4210-67-P
Docket No. FR-5974-N-01
https://www.govinfo.gov/app/details/FR-2016-11-01/2016-26331
https://www.govinfo.gov/content/pkg/FR-2016-11-01/html/2016-26331.htm
https://www.govinfo.gov/content/pkg/FR-2016-11-01/pdf/2016-26331.pdf
2 p.
75836
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81 FR 75836
Section 184 Indian Housing Loan Guarantee Program Increase to Annual Premium; Federal Register Vol. 81, Issue
NOTICE
2016-26331
DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT
2016-12-01
Docket No. FR-5974-N-01
4210-67-P
2016-26331
Notice.
The Section 184 Indian Housing Loan Guarantee program (Section 184 program) is a home mortgage program specifically designed for American Indian and Alaska Native families, Alaska villages, tribes, or tribally designated housing entities. Over the last five years, the Section 184 program has doubled the number of loans and eligible families being assisted by the program. For HUD to continue to meet the increasing demand for participation in this program, HUD is exercising its authority to increase the annual premium to the borrower from 0.15 to 0.25 percent of the remaining loan balance. This annual premium will continue until the unpaid principal balance, excluding the upfront loan guarantee fee, reaches 78 percent of the lower of the initial sales price or appraised value based on the initial amortization schedule. Effective December 1, 2016 the new annual premium of 0.25 percent of the remaining loan balance will apply to all new loan guarantees, including refinances.
Effective Date: December 1, 2016.
Heidi J. Frechette, Deputy Assistant Secretary for Native American Programs, Office of Public and Indian Housing, Department of Housing and Urban Development, 451 7th Street SW., Room 4126, Washington, DC 20410; telephone number 202-401-7914 (this is not a toll-free number). Persons with hearing or speech disabilities may access this number through TTY by calling the toll- free Federal Relay Service at 800-877-8339.
Indian Housing Loan Guarantee Program:
Increase to Annual Premium
,
http://portal.hud.gov/hudportal/HUD?src=/program_offices/public_indian_housing/ih/homeownership/184
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