80 FR 59809 - Multifamily, Health Care Facilities, and Hospital Mortgage Insurance Premiums for Fiscal Year (FY) 2016

DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT

Federal Register Volume 80, Issue 191 (October 2, 2015)

In accordance with HUD regulations, this Notice announces the mortgage insurance premiums (MIPs) for Federal Housing Administration (FHA) Multifamily, Health Care Facilities, and Hospital mortgage insurance programs that have commitments to be issued or reissued in FY 2016. FY 2016 MIPs are the same as in FY 2015. This Notice does not apply to loans insured under the Risk Sharing programs of section 542(b) or 542(c) of the Housing and Community Development Act of 1992.

[Federal Register Volume 80, Number 191 (Friday, October 2, 2015)]
[Notices]
[Pages 59809-59810]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2015-25149]


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DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT

[Docket No. FR-5896-N-01]


Multifamily, Health Care Facilities, and Hospital Mortgage 
Insurance Premiums for Fiscal Year (FY) 2016

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

ACTION: Notice.

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SUMMARY: In accordance with HUD regulations, this Notice announces the 
mortgage insurance premiums (MIPs) for Federal Housing Administration 
(FHA) Multifamily, Health Care Facilities, and Hospital mortgage 
insurance programs that have commitments to be issued or reissued in FY 
2016. FY 2016 MIPs are the same as in FY 2015. This Notice does not 
apply to loans insured under the Risk Sharing programs of section 
542(b) or 542(c) of the Housing and Community Development Act of 1992.

DATES: Effective Date: October 1, 2015.

FOR FURTHER INFORMATION CONTACT:
    Multifamily Programs: Theodore K. Toon, Director, Office of 
Multifamily Production, Office of Housing, Department of Housing and 
Urban Development, 451 7th Street SW., Washington, DC 20410-8000, 
telephone number 202-402-8386 (this is not a toll free number).

[[Page 59810]]

    Health Care and Hospital Programs: Roger M. Lukoff, MA, FACHE, 
Associate Deputy Assistant Secretary, FHA-Office of Healthcare 
Programs, United States Department of Housing and Urban Development, 
451 Seventh Street SW., Room 6264, Washington, DC 20410. Telephone: 
202-402-4762, FAX: 202-708-0560. Hearing or speech-impaired individuals 
may access these numbers via TTY by calling the Federal Relay Service 
at 800-877-8339 (this is a toll-free number).

SUPPLEMENTARY INFORMATION:

I. Background

    HUD's mortgage insurance regulations at 24 CFR 207.254 provide as 
follows:

    Notice of future premium changes will be published in the 
Federal Register. The Department will propose MIP changes for 
multifamily mortgage insurance programs and provide a 30-day public 
comment period for the purpose of accepting comments on whether the 
proposed changes are appropriate.

    This notice announces that the FY 2016 MIPs are the same the FY 
2015 MIPs, published in the Federal Register on March 31, 2014 (79 FR 
18049). Since HUD is not seeking to implement any premium changes for 
FY 2016 for the mortgage insurance programs listed in this notice, HUD 
is not seeking public comment at this time.

II. Positive Credit Subsidy Programs

    The Department will continue to suspend issuance and reissuance of 
commitments under two programs that have previously required positive 
credit subsidy: Section 221(d)(3) New Construction/Substantial 
Rehabilitation (NC/SR) for Nonprofit/Cooperative Mortgagors without 
LIHTC and Section 223(d) Operating Loss Loans for Apartments.
    The MIPs to be in effect for FHA Firm Commitments issued or 
reissued in FY 2016 are shown in the chart below:

                       Fiscal Year 2016 MIP Rates
   Multifamily, healthcare facilities and hospital insurance programs
------------------------------------------------------------------------
                                                    Basis points
------------------------------------------------------------------------
                             FHA Multifamily
------------------------------------------------------------------------
207 Multifamily Housing New Construction/   70
 Sub Rehab without LIHTC.
207 Multifamily Housing New Construction/   45
 Sub Rehab with LIHTC.
207 Manufactured Home Parks without LIHTC.  70
207 Manufactured Home Parks with LIHTC....  45
221(d)(3) New Construction/Substantial      N/A
 Rehabilitation (NC/SR) for Nonprofit/
 Cooperative mortgagor without LIHTC.
221(d)(3) Limited dividend with LIHTC.....  45
221(d)(4) NC/SR without LIHTC.............  65
221(d)(4) NC/SR with LIHTC................  45
220 Urban Renewal Housing without LIHTC...  70
220 Urban Renewal Housing with LIHTC......  45
213 Cooperative...........................  70
207/223(f) Refinance or Purchase for        60*
 Apartments without LIHTC.
207/223(f) Refinance or Purchase for        45*
 Apartments with LIHTC.
223(a)(7) Refinance of Apartments without   50**
 LIHTC.
223(a)(7) Refinance of Apartments with      45**
 LIHTC.
223d Operating Loss Loan for Apartments...  N/A
231 Elderly Housing without LIHTC.........  70
231 Elderly Housing with LIHTC............  45
241(a) Supplemental Loans for Apartments/   95
 coop without LIHTC.
241(a) Supplemental Loans for Apartments/   45
 coop with LIHTC.
------------------------------------------------------------------------
          FHA Healthcare Facilities (Nursing Homes, ALF & B&C)
------------------------------------------------------------------------
232 NC/SR Healthcare Facilities without     77
 LIHTC.
232 NC/SR--Assisted Living Facilities with  45
 LIHTC.
232/223(f) Refinance for Healthcare         65*
 Facilities without LIHTC.
232/223(f) Refinance for Healthcare         45*
 Facilities with LIHTC.
223(a)(7) Refinance of Healthcare           55**
 Facilities without LIHTC.
223(a)(7) Refinance of Healthcare           45**
 Facilities with LIHTC.
223d Operating Loss Loan for Healthcare     95
 Facilities.
241(a) Supplemental Loans for Healthcare    72
 Facilities without LIHTC.
241(a) Supplemental Loans for Healthcare    45
 Facilities with LIHTC.
------------------------------------------------------------------------
                              FHA Hospitals
------------------------------------------------------------------------
242 Hospitals.............................  70
223(a)(7) Refinance of Existing FHA-        55**
 insured Hospital.
223(f) Refinance or Purchase of Existing    65*
 Non-FHA-insured Hospital.
241(a) Supplemental Loans for Hospitals...  65
------------------------------------------------------------------------
*The first-year or upfront MIP fee for loans insured under Section
  223(f) for Multifamily, Health Care Facilities, and Hospital programs
  is 100 basis (one percent) points. The annual MIP amounts are
  otherwise shown above for the respective Section 223(f) programs.
**The first-year or upfront MIP fee for loans under Section 223(a)(7)
  for Multifamily, Health Care Facilities, and Hospital programs is 50
  basis points. The annual MIP amounts are otherwise shown above for the
  respective Section 223(a)(7) programs.


    Dated: September 28, 2015.
Edward L. Golding,
Assistant Secretary for Housing.
[FR Doc. 2015-25149 Filed 10-1-15; 8:45 am]
 BILLING CODE 4210-67-P