U. S. Department of Housing and Urban Development
                              Washington, D.C. 20410-8000
                                 November 25, 1992

OFFICE OF THE ASSISTANT SECRETARY
FOR HOUSING-FEDERAL HOUSING COMMISSIONER                            TI-421

       MEMORANDUM FOR:  ALL TITLE I LENDING INSTITUTIONS
                        Attn:  Installment Loan Department
       SUBJECT:  Revised Title I Regulations Handbook
 
              The Department has issued a revised Title I Regulations
       Handbook to provide all lenders, loan correspondents and HUD staff
       with a readable and "user friendly" compilation of the regulations
       governing the program.  HUD Handbook 1060.2  REV-5 dated November
       1992 differs from the March 1989 version in several major respects:
 
              o   It has been expanded to include the lender approval
                  regulations in 24 CFR Part 202.
 
              o   It includes all amendments, corrections and notices
                  related to the regulations that have been published in
                  the Federal Register through September 30, 1992.
 
              o   It includes an expanded subject index to assist the
                  reader in quickly locating the section number and page
                  where a particular topic is covered.
 
              Single copies of the Regulations Handbook are being mailed
       to all Title I lenders and loan correspondents and others on our
       mailing list.  Lenders with approved branch offices will receive a
       bulk shipment of Handbooks equal to the number of branch offices,
       sent to your home office.  As further revisions are made to the
       Title I regulations, this same distribution system will be used to
       make available replacement pages for the Handbook.
 
              If you have any questions about this letter, please write to
       Robert J. Coyle, Director, Title I Insurance Division, Room 9158,
       451 Seventh Street, S.W., Washington, D.C. 20410, or call the
       Department toll-free at 1-800-733-HOME (1-800-733-4663).
 
                                       Sincerely yours,
 
                                       Arthur J. Hill
                                       Assistant Secretary for
                                       Housing-Federal Housing Commissioner
 
       *U.S. Government Printing Office: 1992 - 342-362/60355