This final rule removes from title 24 of the Code of Federal Regulations the Department's regulations and codified guidance which are unnecessary or obsolete. Following a review of existing HUD regulations in accordance with the President's regulatory reinvention initiative, the Department has determined that the regulatory parts and other codified materials identified in this rule are unnecessary to be retained in the Code of Federal Regulations because the parts address obsolete programs that have been repealed, are no longer funded, or by new legislation have been consolidated into other programs; no regulatory requirements are included in the parts and therefore the provisions of these parts need not be codified or can be provided through other non-rulemaking means; e.g., notices or handbooks; the parts cover expiring programs, that is, there are only a few outstanding mortgages or contracts, which will either continue to be administered under the regulations that existed immediately before October 11, 1995 or be directed under individual contracts or grant agreements; or the parts relate to functions that have been transferred to another agency.