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Federal Register / Vol. 76, No. 150 / Thursday, August 4, 2011 / Notices 47225 Section E. Authority Superseded provisions of the National Housing Act determined by the Secretary of the The previous delegations of authority (the Act). The interest rate for Treasury pursuant to a statutory formula from the Secretary of HUD to the debentures issued under section based on the average yield of all Assistant Secretary for PIH are hereby 221(g)(4) of the Act during the 6-month outstanding marketable Treasury revoked and superseded by this period beginning July 1, 2011, is 3 obligations of maturities of 15 or more delegation of authority, including the percent. The interest rate for debentures years. previous delegation of authority for PIH issued under any other provision of the The Secretary of the Treasury (1) has published on August 4, 2004 (69 FR Act is the rate in effect on the date that determined, in accordance with the 47171). the commitment to insure the loan or provisions of section 224, that the mortgage was issued, or the date that the statutory maximum interest rate for the Section F. Authority To Represent HUD loan or mortgage was endorsed (or period beginning July 1, 2011, is 41⁄8 This consolidated delegation of initially endorsed if there are two or percent; and (2) has approved the authority is conclusive evidence of the more endorsements) for insurance, establishment of the debenture interest authority of the Assistant Secretary for whichever rate is higher. The interest rate by the Secretary of HUD at 41⁄8 PIH, the General Deputy Assistant rate for debentures issued under these percent for the 6-month period Secretary, or those with redelegated other provisions with respect to a loan beginning July 1, 2011. This interest rate authority, to represent the Secretary and or mortgage committed or endorsed will be the rate borne by debentures to execute, in the name of the Secretary, during the 6-month period beginning issued with respect to any insured loan any instrument or document July 1, 2011, is 41⁄8 percent. However, as or mortgage (except for debentures relinquishing or transferring any right, a result of an amendment to section 224 issued pursuant to section 221(g)(4)) title, or interest of the Department in of the Act, if an insurance claim relating with insurance commitment or real or personal property. The Secretary to a mortgage insured under sections endorsement date (as applicable) within may revoke the authority authorized 203 or 234 of the Act and endorsed for the latter 6 months of 2011. herein, in whole or in part, at any time. insurance after January 23, 2004, is paid For convenience of reference, HUD is in cash, the debenture interest rate for publishing the following chart of Section G. Consultation and purposes of calculating a claim shall be debenture interest rates applicable to Coordination With the General Counsel the monthly average yield, for the mortgages committed or endorsed since The General Counsel shall consult month in which the default on the January 1, 1980: and advise the Assistant Secretary for mortgage occurred, on United States PIH and the General Deputy Assistant Treasury Securities adjusted to a Effective in- terest rate on or after prior to Secretary, as required and when constant maturity of 10 years. requested, and shall enter into such FOR FURTHER INFORMATION CONTACT: 91⁄2 ................ Jan. 1, 1980 July 1, 1980 protocols as administratively agreed to Yong Sun, Department of Housing and 97⁄8 ................ July 1, 1980 Jan. 1, 1981 by the General Counsel and the Urban Development, 451 Seventh Street, 113⁄4 .............. Jan. 1, 1981 July 1, 1981 Assistant Secretary for PIH or the SW., Room 5148, Washington, DC 127⁄8 .............. July 1, 1981 Jan. 1, 1982 3 General Deputy Assistant Secretary for 20410–8000; telephone (202) 402–4778 12 ⁄4 .............. Jan. 1, 1982 Jan. 1, 1983 101⁄4 .............. Jan. 1, 1983 July 1, 1983 PIH. This consolidated delegation of (this is not a toll-free number). 103⁄8 .............. July 1, 1983 Jan. 1, 1984 authority is to be exercised consistently Individuals with speech or hearing 1 11 ⁄2 .............. Jan. 1, 1984 July 1, 1984 with the delegation from the Secretary impairments may access this number 133⁄8 .............. July 1, 1984 Jan. 1, 1985 to the General Counsel. through TTY by calling the toll-free 115⁄8 .............. Jan. 1, 1985 July 1, 1985 Authority: Section 7 (d) of the Department Federal Information Relay Service at 111⁄8 .............. July 1, 1985 Jan. 1, 1986 of Housing and Urban Development Act, as (800) 877–8339. 101⁄4 .............. Jan. 1, 1986 July 1, 1986 1 amended, (42 U.S.C. 3535(d). SUPPLEMENTARY INFORMATION: Section 8 ⁄4 ................ July 1, 1986 Jan. 1. 1987 224 of the National Housing Act (12 8 ................... Jan. 1, 1987 July 1, 1987 Dated: July 15, 2011. 9 ................... July 1, 1987 Jan. 1, 1988 U.S.C. 1715o) provides that debentures Shaun Donovan, 91⁄8 ................ Jan. 1, 1988 July 1, 1988 Secretary. issued under the Act with respect to an 93⁄8 ................ July 1, 1988 Jan. 1, 1989 insured loan or mortgage (except for 1 [FR Doc. 2011–19723 Filed 8–3–11; 8:45 am] 9 ⁄4 ................ Jan. 1, 1989 July 1, 1989 debentures issued pursuant to section 9 ................... July 1, 1989 Jan. 1, 1990 BILLING CODE 4210–67–P 221(g)(4) of the Act) will bear interest at 81⁄8 ................ Jan. 1, 1990 July 1, 1990 the rate in effect on the date the 9 ................... July 1, 1990 Jan. 1, 1991 83⁄4 ................ Jan. 1, 1991 July 1, 1991 DEPARTMENT OF HOUSING AND commitment to insure the loan or 81⁄2 ................ July 1, 1991 Jan. 1, 1992 URBAN DEVELOPMENT mortgage was issued, or the date the loan or mortgage was endorsed (or 8 ................... Jan. 1, 1992 July 1, 1992 8 ................... July 1, 1992 Jan. 1, 1993 [Docket No. FR–5493–N–02] initially endorsed if there are two or 73⁄4 ................ Jan. 1, 1993 July 1, 1993 more endorsements) for insurance, Mortgage and Loan Insurance 7 ................... July 1, 1993 Jan. 1, 1994 whichever rate is higher. This provision 5 Programs Under the National Housing 6 ⁄8 ................ Jan. 1, 1994 July 1, 1994 is implemented in HUD’s regulations at 73⁄4 ................ July 1, 1994 Jan. 1, 1995 Act—Debenture Interest Rates 24 CFR 203.405, 203.479, 207.259(e)(6), 83⁄8 ................ Jan. 1, 1995 July 1, 1995 1 AGENCY: Office of the Assistant and 220.830. These regulatory 7 ⁄4 ................ July 1, 1995 Jan. 1, 1996 provisions state that the applicable rates 61⁄2 ................ Jan. 1, 1996 July 1, 1996 Secretary for Housing—Federal Housing 1 Commissioner, HUD. of interest will be published twice each 7 ⁄4 ................ July 1, 1996 Jan. 1, 1997 63⁄4 ................ Jan. 1, 1997 July 1, 1997 ACTION: Notice. year as a notice in the Federal Register. 1 Section 224 further provides that the 7 ⁄8 ................ July 1, 1997 Jan. 1, 1998 63⁄8 ................ Jan. 1, 1998 July 1, 1998 SUMMARY: This notice announces interest rate on these debentures will be 61⁄8 ................ July 1, 1998 Jan. 1, 1999 changes in the interest rates to be paid set from time to time by the Secretary 51⁄2 ................ Jan. 1, 1999 July 1, 1999 on debentures issued with respect to a of HUD, with the approval of the 61⁄8 ................ July 1, 1999 Jan. 1, 2000 loan or mortgage insured by the Federal Secretary of the Treasury, in an amount 61⁄2 ................ Jan. 1, 2000 July 1, 2000 Housing Administration under the not in excess of the annual interest rate 61⁄2 ................ July 1, 2000 Jan. 1, 2001 VerDate Mar<15>2010 17:29 Aug 03, 2011 Jkt 223001 PO 00000 Frm 00086 Fmt 4703 Sfmt 4703 E:\FR\FM\04AUN1.SGM 04AUN1 sroberts on DSK5SPTVN1PROD with NOTICES 47226 Federal Register / Vol. 76, No. 150 / Thursday, August 4, 2011 / Notices Effective in- period beginning July 1, 2011, is 3 listing of the Mortgage Loans was terest rate on or after prior to percent. included in the BIP. The Mortgage The subject matter of this notice falls Loans were sold without FHA insurance 6 ................... Jan. 1, 2001 July 1, 2001 within the categorical exemption from and with servicing released. HUD 7 5 ⁄8 ................ July 1, 2001 Jan. 1, 2002 HUD’s environmental clearance offered qualified bidders the 51⁄4 ................ Jan. 1, 2002 July 1, 2002 procedures set forth in 24 CFR opportunity to bid competitively on the 53⁄4 ................ July 1, 2002 Jan. 1, 2003 5 ................... Jan. 1, 2003 July 1, 2003 50.19(c)(6). For that reason, no Mortgage Loans. 41⁄2 ................ July 1, 2003 Jan. 1, 2004 environmental finding has been The Mortgage Loans may be stratified 51⁄8 ................ Jan. 1, 2004 July 1, 2004 prepared for this notice. for bidding purposes into several 51⁄2 ................ July 1, 2004 Jan. 1, 2005 Authority: Sections 211, 221, 224, National mortgage loan pools. Each pool may 47⁄8 ................ Jan. 1, 2005 July 1, 2005 Housing Act, 12 U.S.C. 1715b, 1715l, 1715o; contain Mortgage Loans that generally 41⁄2 ................ July 1, 2005 Jan. 1, 2006 Section 7(d), Department of HUD Act, 42 have similar performance, property 47⁄8 ................ Jan. 1, 2006 July 1, 2006 U.S.C. 3535(d). type, geographic location, lien position 53⁄8 ................ July 1, 2006 Jan. 1, 2007 and other characteristics. Qualified 3 Dated: July 28, 2011. 4 ⁄4 ................ Jan. 1, 2007 July 1, 2007 bidders were permited to submit bids on 5 ................... July 1, 2007 Jan. 1, 2008 Carol J. Galante, one or more pools of Mortgage Loans or 41⁄2 ...............
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