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HUD to Temporarily Stop Issuing FHA Multifamily Firm Commitments

Wednesday, January 14, 2004 - 1:45AM

The U.S. Department of Housing and Urban Development (HUD) will temporarily cease issuance of FHA multifamily firm commitments no later than the close of business today. HUD says it will exhaust the commitment authority available under the continuing resolution under which the department is operating pending final action on the fiscal 2004 appropriations bill. The current continuing resolution provides $7.667 billion in commitment authority for the General Insurance (GI) Fund or Special Risk Insurance (SRI) funds through January 31. The suspensions of activity were announced in Mortgagee Letters 2004-02 and 2004-03 and Title I Lender TI-475, issued January 12.

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