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Office of the Assistant Secretary for Housing-Federal Housing Commissioner; Sale of HUD-Held Multifamily Mortgages

HUD · hud-fair-housing · Published 1996-06-21 · Effective 1996-07-22 · 61 FR 32264

Document

Document number
96-15735
Federal Register citation
61 FR 32264
CFR reference
24 CFR 290
Type
Rule
Action
Final rule.
Category
hud-fair-housing
Agency
US Department of Housing and Urban Development
Publication date
1996-06-21
Effective date
1996-07-22
Docket
Docket No. FR-3970-F-02

Abstract

This rule amends the Department's regulations governing the sale of multifamily mortgages. It adds a provision protecting leases of residential tenants in the event of foreclosure of certain mortgages after they have been sold by HUD. This rule continues the protections already provided to tenants that are receiving project-based federal rental assistance or Section 8 tenant-based rental assistance. This rule also clarifies a requirement added by the earlier interim rule which continued, after the mortgage was sold by HUD, the prohibition on project owners against discrimination in admitting tenants based on their holding Section 8 certificates or vouchers. This rule clarifies that this requirement continues until the mortgage debt is satisfied. These amendments are intended to further the Department's efforts to return its inventory of HUD-held multifamily mortgages to the private sector in a manner that is beneficial to HUD and the residents of these projects.

Source

Authoritative
Federal Register document
Machine
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