Deletion of the 90 Percent-of-Value Criterion in Section 223(a)(7) Refinancing; Extension of Effectiveness

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This notice extends the effectiveness of the interim rule, published October 26, 1993 (58 FR 57558), which deletes the value criterion in section 223(a)(7) refinancing. The rule will remain in effect until April 26, 1995. The final rule is currently in the last stages of review by HUD and the Office of Management and Budget (OMB) and will be published when approved.