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Home , Debenture, Settlement (finance)

9366 Federal Register / Vol. 86, No. 28 / Friday, February 12, 2021 / Notices

54. Tradition Mortgage LLC, Lakeville, to VIG Mortgage’s business structure, listed below were not in compliance MN [Docket No. 19–2049–MR] consisting of a change in ownership, in with HUD’s annual recertification Action: On May 12, 2020, the Board fiscal year 2018. requirements. voted to enter into a 58. Weststar Mortgage Corporation, 1. Apex Lending Inc., Santa Ana, CA agreement with Tradition Mortgage LLC, Albuquerque, NM [Docket No. 20–2005– 2. Aries Inc., El Segundo, CA (‘‘Tradition Mortgage’’) that included a MR] 3. City National of New Jersey, civil money penalty of $14,819. The Newark, NJ Action: On May 12, 2020, the Board settlement agreement does not 4. Consumer Services, LLC, La voted to enter into a settlement constitute an admission of liability or Crosse, WI agreement with Westar Mortgage fault. 5. Gulf Atlantic Funding Group, Davie, Cause: The Board took this action Corporation (‘‘Weststar’’) that included FL based on the following alleged a civil money penalty of $5,000. The 6. Metro Phoenix Financial Services, violations of HUD requirements: settlement agreement does not LLC, Phoenix, AZ Tradition Mortgage (a) failed to timely constitute an admission of liability or 7. Mortgage Bank of California, notify HUD of a state sanction in fiscal fault. Manhattan Beach, CA Cause: The Board took this action year 2018; and (b) submitted a false 8. South and Trust Co., based on the following alleged violation certification to HUD concerning Chicago, IL of HUD requirements: Weststar failed to Tradition Mortgage’s fiscal year 2018. 9. United Police Federal Union, timely notify HUD of a sanction in fiscal Miami, FL 55. United Home Loans, Inc., year 2019. Westchester, IL [Docket No. 20–2015– Janet M. Golrick, II. Lenders That Failed To Timely Meet MR] Acting Assistant Secretary for Housing/FHA Requirements for Annual Action: On September 1, 2020, the Commissioner Chair, Mortgagee Review Recertification of HUD/FHA Approval Board. Board voted to accept a settlement but Came Into Compliance agreement with United Home Loans, [FR Doc. 2021–02921 Filed 2–11–21; 8:45 am] Inc. (‘‘United Home’’) that included a Action: The Board entered into BILLING CODE 4210–67–P civil money penalty of $5,000. The settlement agreements with the settlement does not constitute an following lenders, which required the DEPARTMENT OF HOUSING AND admission of liability or fault. lender to pay a civil money penalty URBAN DEVELOPMENT Cause: The Board took this action without admitting fault or liability. based on the following alleged violation Cause: The Board took these actions [Docket No. FR–6245–N–01] of HUD requirements: United Home based upon allegations that the listed failed to timely notify HUD of a sanction lenders failed to comply with HUD’s Mortgage and Loan in fiscal year 2019. annual recertification requirements in a Programs Under the National Housing timely manner. Act— Rates 56. Valley Mortgage Inc., Fargo, ND The lenders below paid the following [Docket No. 19–1956–MR] civil money penalty amounts: AGENCY: Office of the Assistant Action: On December 17, 2019, the 1. Central Bank and Trust Lander, WY Secretary for Housing—Federal Housing Board voted to enter into a settlement ($10,067) [Docket No. 20–2038–MRT] Commissioner, HUD. agreement with Valley Mortgage Inc. The following lenders paid civil ACTION: Notice. (‘‘Valley Mortgage’’) that included a money penalties of $5,000. SUMMARY: This Notice announces civil money penalty of $9,468 and the 2. Community Investment Corporation, changes in the interest rates to be paid indemnification of one FHA-insured Chicago, IL [Docket No. 20–2081– on issued with respect to a mortgage for a term of five years. The MRT] loan or mortgage insured by the Federal settlement agreement does not 3. Great Lakes Financial Group Ltd, Housing Administration under the constitute an admission of liability or Cleveland, OH [Docket No. 20–2090– provisions of the National Housing Act fault. MRT] (the Act). The for Cause: The Board took this action The following lenders paid civil based on the following alleged violation debentures issued under Section money penalties of $4,500. 221(g)(4) of the Act during the 6-month of HUD requirements: Valley Mortgage 4. Buckeye State Bank, Powell, OH 3 violated FHA underwriting period beginning January 1, 2021, is ⁄4 [Docket No. 20–2029–MRT] percent. The interest rate for debentures requirements by approving a loan that 5. First Flight Federal Credit Union, was not eligible for FHA insurance by issued under any other provision of the Cary, NC [Docket No. 20–2032–MRT] Act is the rate in effect on the date that failing to properly calculate the 6. Grand Savings Bank, Grove, OK borrowers’ effective income. the commitment to insure the loan or [Docket No. 20–2034–MRT] mortgage was issued, or the date that the 7. SWI Financial Services Inc, 57. VIG Mortgage Corporation, San loan or mortgage was endorsed (or Escondido, CA [Docket No. 20–2032– Juan, PR [Docket No. 20–2016–MR] initially endorsed if there are two or MRT] Action: On May 12, 2020, voted to 8. Windsor Federal Savings [Docket No. more endorsements) for insurance, enter into a settlement agreement with 19–2040–MRT] whichever rate is higher. The interest VIG Mortgage Corporation (‘‘VIG’’) that rate for debentures issued under these included a civil money penalty of III. Lenders That Failed To Meet other provisions with respect to a loan $4,909. The settlement agreement does Requirements for Annual or mortgage committed or endorsed not constitute an admission of liability Recertification of HUD/FHA Approval during the 6-month period beginning or fault. Action: The Board voted to withdraw January 1, 2021, is 13⁄8 percent. Cause: The Board took this action the FHA approval of each of the lenders FOR FURTHER INFORMATION CONTACT: based on the following alleged violation listed below for a period of one (1) year. Elizabeth Olazabal, Department of of HUD requirements: VIG Mortgage Cause: The Board took this action Housing and Urban Development, 451 failed to timely notify HUD of a change based upon allegations that the lenders Seventh Street SW, Room 5146,

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Washington, DC 20410–8000; telephone Effective Effective (202) 402–4608 (this is not a toll-free interest rate on or after prior to interest rate on or after prior to number). Individuals with speech or hearing impairments may access this 113⁄4 ...... Jan. 1, 1981 July 1, 1981. 23⁄4 ...... Jan. 1, 2018 July 1, 2018. 127⁄8 ...... July 1, 1981 Jan. 1, 1982. 31⁄8 ...... July 1, 2018 Jan. 1, 2019. number through TTY by calling the 3 123⁄4 ...... Jan. 1, 1982 Jan. 1, 1983. 3 ⁄8 ...... Jan. 1, 2019 July 1, 2019. Federal Information Relay Service at 3 101⁄4 ...... Jan. 1, 1983 July 1, 1983. 2 ⁄4 ...... July 1, 2019 Jan. 1, 2020. (800) 877–8339 (this is a toll-free 3 1 10 ⁄8 ...... July 1, 1983 Jan. 1, 1984. 2 ⁄4 ...... Jan. 1, 2020 July 1, 2020. 1 number). 111⁄2 ...... Jan. 1, 1984 July 1, 1984. 1 ⁄4 ...... July 1, 2020 Jan. 1, 2021. 3 SUPPLEMENTARY INFORMATION: Section 133⁄8 ...... July 1, 1984 Jan. 1, 1985. 1 ⁄8 ...... Jan. 1, 2021 July 1, 2021. 224 of the National Housing Act (12 115⁄8 ...... Jan. 1, 1985 July 1, 1985. 1 U.S.C. 1715o) provides that debentures 11 ⁄8 ...... July 1, 1985 Jan. 1, 1986. Section 215 of Division G, Title II of 101⁄4 ...... Jan. 1, 1986 July 1, 1986. issued under the Act with respect to an Public Law 108–199, enacted January 81⁄4 ...... July 1, 1986 Jan. 1. 1987. insured loan or mortgage (except for 23, 2004 (HUD’s 2004 Appropriations 8 ...... Jan. 1, 1987 July 1, 1987. Act) amended Section 224 of the Act, to debentures issued pursuant to Section 9 ...... July 1, 1987 Jan. 1, 1988. change the debenture interest rate for 221(g)(4) of the Act) shall bear interest 91⁄8 ...... Jan. 1, 1988 July 1, 1988. 3 purposes of calculating certain at the rate in effect on the date the 9 ⁄8 ...... July 1, 1988 Jan. 1, 1989. commitment to insure the loan or 91⁄4 ...... Jan. 1, 1989 July 1, 1989. insurance claim payments made in . mortgage was issued, or the date the 9 ...... July 1, 1989 Jan. 1, 1990. Therefore, for all claims paid in cash on loan or mortgage was endorsed (or 81⁄8 ...... Jan. 1, 1990 July 1, 1990. mortgages insured under Section 203 or initially endorsed if there are two or 9 ...... July 1, 1990 Jan. 1, 1991. 234 of the National Housing Act and 83⁄4 ...... Jan. 1, 1991 July 1, 1991. more endorsements) for insurance, endorsed for insurance after January 23, 81⁄2 ...... July 1, 1991 Jan. 1, 1992. whichever rate is highest. This 2004, the debenture interest rate will be 8 ...... Jan. 1, 1992 July 1, 1992. the monthly average yield, for the provision is implemented in HUD’s 8 ...... July 1, 1992 Jan. 1, 1993. month in which the on the regulations at 24 CFR 203.405, 203.479, 73⁄4 ...... Jan. 1, 1993 July 1, 1993. 207.259(e)(6), and 220.830. These 7 ...... July 1, 1993 Jan. 1, 1994. mortgage occurred, on United States 5 Treasury Securities adjusted to a regulatory provisions state that the 6 ⁄8 ...... Jan. 1, 1994 July 1, 1994. applicable rates of interest will be 73⁄4 ...... July 1, 1994 Jan. 1, 1995. constant of 10 years, as found 3 published twice each year as a notice in 8 ⁄8 ...... Jan. 1, 1995 July 1, 1995. in Statistical Release H– 71⁄4 ...... July 1, 1995 Jan. 1, 1996. the Federal Register. 15. The Federal Housing Administration 61⁄2 ...... Jan. 1, 1996 July 1, 1996. Section 224 further provides that the has codified this provision in HUD 71⁄4 ...... July 1, 1996 Jan. 1, 1997. regulations at 24 CFR 203.405(b) and 24 interest rate on these debentures will be 3 6 ⁄4 ...... Jan. 1, 1997 July 1, 1997. CFR 203.479(b). set from time to time by the Secretary 1 7 ⁄8 ...... July 1, 1997 Jan. 1, 1998. Similarly, Section 520(a) of the of HUD, with the approval of the 63⁄8 ...... Jan. 1, 1998 July 1, 1998. National Housing Act (12 U.S.C. 1735d) Secretary of the Treasury, in an amount 61⁄8 ...... July 1, 1998 Jan. 1, 1999. 1 provides for the payment of an not in excess of the annual interest rate 5 ⁄2 ...... Jan. 1, 1999 July 1, 1999. 1 insurance claim in cash on a mortgage determined by the Secretary of the 6 ⁄8 ...... July 1, 1999 Jan. 1, 2000. 1 2 or loan insured under any section of the Treasury pursuant to a statutory formula 6 ⁄ ...... Jan. 1, 2000 July 1, 2000. 61⁄2 ...... July 1, 2000 Jan. 1, 2001. National Housing Act before or after the based on the average yield of all 6 ...... Jan. 1, 2001 July 1, 2001. enactment of the Housing and Urban outstanding marketable Treasury 7 5 ⁄8 ...... July 1, 2001 Jan. 1, 2002. Development Act of 1965. The amount obligations of maturities of 15 or more 1 5 ⁄4 ...... Jan. 1, 2002 July 1, 2002. of such payment shall be equivalent to 3 years. 5 ⁄4 ...... July 1, 2002 Jan. 1, 2003. the face amount of the debentures that The Secretary of the Treasury (1) has 5 ...... Jan. 1, 2003 July 1, 2003. would otherwise be issued, plus an determined, in accordance with the 41⁄2 ...... July 1, 2003 Jan. 1, 2004. amount equivalent to the interest which provisions of Section 224, that the 51⁄8 ...... Jan. 1, 2004 July 1, 2004. 1 the debentures would have earned, statutory maximum interest rate for the 5 ⁄2 ...... July 1, 2004 Jan. 1, 2005. 47⁄8 ...... Jan. 1, 2005 July 1, 2005. computed to a date to be established period beginning January 1, 2021, is 13⁄8 1 2 pursuant to regulations issued by the percent; and (2) has approved the 4 ⁄ ...... July 1, 2005 Jan. 1, 2006. 47⁄8 ...... Jan. 1, 2006 July 1, 2006. Secretary. The implementing HUD establishment of the debenture interest 53⁄8 ...... July 1, 2006 Jan. 1, 2007. 3 regulations for multifamily insured rate by the Secretary of HUD at 1 ⁄8 3 4 ⁄4 ...... Jan. 1, 2007 July 1, 2007. mortgages at 24 CFR 207.259(e)(1) and percent for the 6-month period 5 ...... July 1, 2007 Jan. 1, 2008. (e)(6), when read together, provide that beginning January 1, 2021. This interest 41⁄2 ...... Jan. 1, 2008 July 1, 2008. 5 debenture interest on a multifamily rate will be the rate borne by debentures 4 ⁄8 ...... July 1, 2008 Jan. 1, 2009. insurance claim that is paid in cash is 41⁄8 ...... Jan. 1, 2009 July 1, 2009. issued with respect to any insured loan paid from the date of the loan default at or mortgage (except for debentures 41⁄8 ...... July 1, 2009 Jan. 1, 2010. 1 the debenture rate in effect at the time issued pursuant to Section 221(g)(4)) 4 ⁄4 ...... Jan. 1, 2010 July 1, 2010. 1 of commitment or endorsement (or with insurance commitment or 4 ⁄8 ...... July 1, 2010 Jan. 1, 2011. 37⁄8 ...... Jan. 1, 2011 July 1, 2011. initial endorsement if there are two or endorsement date (as applicable) within 41⁄8 ...... July 1, 2011 Jan. 1, 2012. more endorsements) of the loan, the first 6 months of 2021. 7 2 ⁄8 ...... Jan. 1, 2012 July 1, 2012. whichever is higher. For convenience of reference, HUD is 3 2 ⁄4 ...... July 1, 2012 Jan. 1, 2013. Section 221(g)(4) of the Act provides publishing the following chart of 21⁄2 ...... Jan. 1, 2013 July 1, 2013. that debentures issued pursuant to that debenture interest rates applicable to 27⁄8 ...... July 1, 2013 Jan. 1, 2014. paragraph (with respect to the 5 mortgages committed or endorsed since 3 ⁄8 ...... Jan. 1, 2014 July 1, 2014. of an insured mortgage to January 1, 1980: 31⁄4 ...... July 1, 2014 Jan. 1, 2015. 3 ...... Jan. 1, 2015 July 1, 2015. the Secretary) will bear interest at the ‘‘going Federal rate’’ in effect at the time 27⁄8 ...... July 1, 2015 Jan. 1, 2016. Effective on or after prior to interest rate 27⁄8 ...... Jan. 1, 2016 July 1, 2016. the debentures are issued. The term 21⁄2 ...... July 1, 2016 Jan. 1, 2017. ‘‘going Federal rate’’ is defined to mean 3 91⁄2 ...... Jan. 1, 1980 July 1, 1980. 2 ⁄4 ...... Jan. 1, 2017 July 1, 2017. the interest rate that the Secretary of the 97⁄8 ...... July 1, 1980 Jan. 1, 1981. 27⁄8 ...... July 1, 2017 Jan. 1, 2018. Treasury determines, pursuant to a

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statutory formula based on the average documents filed in connection with this On January 27, 2021, the ALJ issued yield on all outstanding marketable investigation may be viewed on the Order No. 66, the subject ID, which Treasury obligations of 8- to 12-year Commission’s electronic docket (EDIS) granted the motion. The ID found that maturities, for the 6-month periods of at https://edis.usitc.gov. For help the motion complies with Commission January through June and July through accessing EDIS, please email Rule 210.21(b). The ID further found December of each year. Section 221(g)(4) [email protected]. General that terminating the investigation as to is implemented in the HUD regulations information concerning the Commission all remaining respondents will not at 24 CFR 221.255 and 24 CFR 221.790. may also be obtained by accessing its adversely affect the public interest. The Secretary of the Treasury has internet server at https://www.usitc.gov. Because the investigation had already determined that the interest rate to be Hearing-impaired persons are advised terminated as to HP, the ID would result borne by debentures issued pursuant to that information on this matter can be in the termination of the investigation in Section 221(g)(4) during the 6-month obtained by contacting the its entirety. No petitions for review of period beginning January 1, 2021, is3⁄4 Commission’s TDD terminal on (202) the ID were filed. percent. The subject matter of this 205–1810. The Commission has determined not notice falls within the categorical SUPPLEMENTARY INFORMATION: The to review the subject ID. The exemption from HUD’s environmental Commission instituted this investigation investigation is hereby terminated in its clearance procedures set forth in 24 CFR on June 24, 2019, based on a complaint entirety. 50.19(c)(6). For that reason, no filed by Neodron Ltd. of Dublin, Ireland The Commission vote for this environmental finding has been (‘‘Neodron’’). 84 FR 29545 (June 24, determination took place on February 8, prepared for this notice. 2019). The complaint, as amended, 2021. (Authority: Sections 211, 221, 224, National alleges violations of section 337 of the The authority for the Commission’s Housing Act, 12 U.S.C. 1715b, 1715l, 1715o; Tariff Act of 1930, as amended, 19 determination is contained in section Section 7(d), Department of HUD Act, 42 U.S.C. 1337 (‘‘section 337’’), based upon 337 of the Tariff Act of 1930, as U.S.C. 3535(d).) the importation into the United States, amended (19 U.S.C. 1337), and in Part 210 of the Commission’s Rules of Janet M. Golrick, the sale for importation, and the sale within the United States after Practice and Procedure (19 CFR part Acting Assistant Secretary for Housing— 210). Federal Housing Commissioner. importation of certain touch-controlled mobile devices, computers, and By order of the Commission. [FR Doc. 2021–02867 Filed 2–11–21; 8:45 am] components thereof by reason of Issued: February 8, 2021. BILLING CODE 4210–67–P infringement of certain claims of U.S. Lisa Barton, Patent Nos. 8,432,173; 8,791,910; Secretary to the Commission. 9,024,790; and 9,372,580. Id.; 84 FR [FR Doc. 2021–02877 Filed 2–11–21; 8:45 am] INTERNATIONAL TRADE 55584 (Oct. 17, 2019). The amended BILLING CODE 7020–02–P COMMISSION complaint further alleges that an [Investigation No. 337–TA–1162] industry in the United States exists as required by section 337. 84 FR 29545; INTERNATIONAL TRADE Certain Touch-Controlled Mobile 84 FR 55584. The notice of COMMISSION Devices, Computers, and Components investigation, as amended, named as Thereof; Commission Determination respondents Amazon.com, Inc. of [Investigation No. 337–TA–1179] Not To Review an Initial Determination Seattle, Washington (‘‘Amazon’’); Dell Certain Pouch-Type Battery Cells, Terminating the Investigation as to Inc. of Round Rock, Texas; Dell Battery Modules, and Battery Packs, Amazon, Dell, Lenovo, Microsoft, Products LP of Round Rock, Texas Components Thereof, and Products Motorola, and Samsung Based on (together, ‘‘Dell’’); HP Inc. of Palo Alto, Containing the Same; Commission Settlement; Termination of California (‘‘HP’’); Lenovo Group Ltd. of Determination Not To Review an Initial Investigation Beijing, China; Lenovo (United States) Determination Granting Complainants’ Inc. of Morrisville, North Carolina Motion To Amend the Complaint and AGENCY: U.S. International Trade (together, ‘‘Lenovo’’); Microsoft Notice of Investigation and Terminate Commission. Corporation of Redmond, Washington the Investigation as to Certain Claims ACTION: Notice. (‘‘Microsoft’’); Motorola Mobility LLC of Based on Withdrawal of the Complaint Chicago, Illinois (‘‘Motorola’’); Samsung SUMMARY: Notice is hereby given that Electronics Co., Ltd. of Suwon, South AGENCY: U.S. International Trade the U.S. International Trade Korea; and Samsung Electronics Commission. Commission (‘‘Commission’’) has America, Inc. of Ridgefield Park, New ACTION: Notice. determined not to review an initial Jersey (together, ‘‘Samsung’’). 84 FR determination (‘‘ID’’) (Order No. 66) of 29545; 84 FR 55584. The Office of SUMMARY: Notice is hereby given that the presiding administrative law judge Unfair Import Investigations is not the U.S. International Trade (‘‘ALJ’’) that terminates the investigation participating in the investigation. 84 FR Commission (‘‘Commission’’) has as to the remaining respondents 29545. determined not to review an initial (Amazon, Dell, Lenovo, Microsoft, On September 2, 2020, this determination (‘‘ID’’) (Order No. 53) of Motorola, and Samsung) based on a investigation was terminated as to HP. the presiding chief administrative law settlement. This investigation is Order No. 59 (Aug. 20, 2020), judge (‘‘CALJ’’) granting complainants’ terminated. unreviewed, Notice (Sept. 2, 2020). corrected motion (1) for leave to amend FOR FURTHER INFORMATION CONTACT: On January 25, 2021, Neodron, the complaint and notice of Ronald A. Traud, Esq., Office of the Amazon, Dell, Lenovo, Microsoft, investigation to reflect the respondents’ General Counsel, U.S. International Motorola, and Samsung filed a joint corporate reorganization and (2) to Trade Commission, 500 E Street SW, motion to terminate all remaining withdraw allegations concerning certain Washington, DC 20436, telephone (202) respondents from the investigation claims of U.S. Patent No. 10,121,994 205–3427. Copies of non-confidential based on a settlement agreement. (‘‘the ’994 patent’’) from the complaint.

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