Affordable housing program operation: Program requirements clarification; correction,

[Federal Register: January 15, 1999 (Volume 64, Number 10)]

[Rules and Regulations]

[Page 2550-2551]

From the Federal Register Online via GPO Access [wais.access.gpo.gov]

[DOCID:fr15ja99-2]

FEDERAL HOUSING FINANCE BOARD

12 CFR Part 960

[No. 98-18]

RIN 3069-AA73

Amendment of Affordable Housing Program Regulation

AGENCY: Federal Housing Finance Board.

ACTION: Interim final rule; correction.

SUMMARY: The Federal Housing Finance Board (Finance Board) published in the Federal Register of May 20, 1998, a document containing an interim final rule that made technical revisions to the Affordable Housing Program (AHP or Program) regulation, to clarify Program requirements and improve the operation of the AHP. This document corrects amendatory instruction number 6 of the interim final rule to clarify the scope of the amendment to Sec. 960.7(a) of the interim final rule.

EFFECTIVE DATE: The correction is effective June 19, 1998.

FOR FURTHER INFORMATION CONTACT: Sharon B. Like, Senior Attorney- Advisor, (202) 408-2930, or Roy S. Turner, Jr., Attorney-Advisor, (202) 408-2512, Office of General Counsel, Federal Housing Finance Board, 1777 F Street, NW, Washington, DC 20006.

SUPPLEMENTARY INFORMATION:

The current language in amendatory instruction number 6 of the interim final rule, published on May 20, 1998 (63 FR 27668, 27673), could be incorrectly construed to mean that paragraph (a) of Sec. 960.7 (to be codified at 12 CFR 960.7(a)) was amended in its entirety, when the Finance Board intended to amend only the introductory text of Sec. 960.7(a).

Accordingly, the Finance Board hereby corrects amendatory instruction 6, on page 27673, in the middle column, to read as follows:

6. Section 960.7(a) is amended by revising the introductory text to read as follows:

Dated: January 11, 1999.

[[Page 2551]]

By the Federal Housing Finance Board. Bruce A. Morrison, Chairman.

[FR Doc 99-900Filed1-14-99; 8:45 am]

BILLING CODE 6725-01-P