81 FR 49245 - Mortgage and Loan Insurance Programs Under the National Housing Act-Debenture Interest Rates
DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT Federal Register Volume 81, Issue 144 (July 27, 2016)
Federal Register Volume 81, Issue 144 (July 27, 2016)
| Page Range | 49245-49247 | |
| FR Document | 2016-17783 |
[Federal Register Volume 81, Number 144 (Wednesday, July 27, 2016)] [Notices] [Pages 49245-49247] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2016-17783] ======================================================================= ----------------------------------------------------------------------- DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT [Docket No. FR-5927-N-02] Mortgage and Loan Insurance Programs Under the National Housing Act--Debenture Interest Rates AGENCY: Office of the Assistant Secretary for Housing--Federal Housing Commissioner, HUD. ACTION: Notice. ----------------------------------------------------------------------- SUMMARY: This notice announces changes in the interest rates to be paid on debentures issued with respect to a loan or mortgage insured by the Federal [[Page 49246]] Housing Administration under the provisions of the National Housing Act (the Act). The interest rate for debentures issued under section 221(g)(4) of the Act during the 6-month period beginning July 1, 2016, is 1 3/4 percent. The interest rate for debentures issued under any other provision of the Act is the rate in effect on the date that the commitment to insure the loan or mortgage was issued, or the date that the loan or mortgage was endorsed (or initially endorsed if there are two or more endorsements) for insurance, whichever rate is higher. The interest rate for debentures issued under these other provisions with respect to a loan or mortgage committed or endorsed during the 6-month period beginning July 1, 2016, is 2 1/2 percent. However, as a result of an amendment to section 224 of the Act, if an insurance claim relating to a mortgage insured under sections 203 or 234 of the Act and endorsed for insurance after January 23, 2004, is paid in cash, the debenture interest rate for purposes of calculating a claim shall be the monthly average yield, for the month in which the default on the mortgage occurred, on United States Treasury Securities adjusted to a constant maturity of 10 years. FOR FURTHER INFORMATION CONTACT: Yong Sun, Department of Housing and Urban Development, 451 Seventh Street SW., Room 5148, Washington, DC 20410-8000; telephone (202) 402-4778 (this is not a toll-free number). Individuals with speech or hearing impairments may access this number through TTY by calling the toll-free Federal Relay Service at (800) 877-8339. SUPPLEMENTARY INFORMATION: Section 224 of the National Housing Act (12 U.S.C. 1715o) provides that debentures issued under the Act with respect to an insured loan or mortgage (except for debentures issued pursuant to section 221(g)(4) of the Act) will bear interest at the rate in effect on the date the commitment to insure the loan or mortgage was issued, or the date the loan or mortgage was endorsed (or initially endorsed if there are two or more endorsements) for insurance, whichever rate is higher. This provision is implemented in HUD's regulations at 24 CFR 203.405, 203.479, 207.259(e)(6), and 220.830. These regulatory provisions state that the applicable rates of interest will be published twice each year as a notice in the Federal Register. Section 224 further provides that the interest rate on these debentures will be set from time to time by the Secretary of HUD, with the approval of the Secretary of the Treasury, in an amount not in excess of the annual interest rate determined by the Secretary of the Treasury pursuant to a statutory formula based on the average yield of all outstanding marketable Treasury obligations of maturities of 15 or more years. The Secretary of the Treasury (1) has determined, in accordance with the provisions of section 224, that the statutory maximum interest rate for the period beginning July 1, 2016, is \21/2\percent; and (2) has approved the establishment of the debenture interest rate by the Secretary of HUD at \21/2\percent for the 6-month period beginning July 1, 2016. This interest rate will be the rate borne by debentures issued with respect to any insured loan or mortgage (except for debentures issued pursuant to section 221(g)(4)) with insurance commitment or endorsement date (as applicable) within the latter 6 months of 2016. For convenience of reference, HUD is publishing the following chart of debenture interest rates applicable to mortgages committed or endorsed since January 1, 1980: ------------------------------------------------------------------------ Effective interest rate On or after Prior to ------------------------------------------------------------------------ \91/2\.......................... Jan. 1, 1980..... July 1, 1980. \97/8\.......................... July 1, 1980..... Jan. 1, 1981. \113/4\......................... Jan. 1, 1981..... July 1, 1981. \127/8\......................... July 1, 1981..... Jan. 1, 1982. \123/4\......................... Jan. 1, 1982..... Jan. 1, 1983. \101/4\......................... Jan. 1, 1983..... July 1, 1983. \103/8\......................... July 1, 1983..... Jan. 1, 1984. \111/2\......................... Jan. 1, 1984..... July 1, 1984. \133/8\......................... July 1, 1984..... Jan. 1, 1985. \115/8\......................... Jan. 1, 1985..... July 1, 1985. \111/8\......................... July 1, 1985..... Jan. 1, 1986. \10 1/4\........................ Jan. 1, 1986..... July 1, 1986. \8 1/4\......................... July 1, 1986...... Jan. 1. 1987. \8\............................. Jan. 1, 1987..... July 1, 1987. \9\............................. July 1, 1987...... Jan. 1, 1988. \91/8\.......................... Jan. 1, 1988..... July 1, 1988. \93/8\.......................... July 1, 1988...... Jan. 1, 1989. \91/4\.......................... Jan. 1, 1989..... July 1, 1989. \9\............................. July 1, 1989..... Jan. 1, 1990. \81/8\.......................... Jan. 1, 1990..... July 1, 1990. \9\............................. July 1, 1990..... Jan. 1, 1991. \83/4\.......................... Jan. 1, 1991...... July 1, 1991. \81/2\.......................... July 1, 1991..... Jan. 1, 1992. \8\............................. Jan. 1, 1992...... July 1, 1992. \8\............................. July 1, 1992..... Jan. 1, 1993. \73/4\.......................... Jan. 1, 1993...... July 1, 1993. \7\............................. July 1, 1993..... Jan. 1, 1994. \65/8\.......................... Jan. 1, 1994..... July 1, 1994. \73/4\.......................... July 1, 1994..... Jan. 1, 1995. \83/8\.......................... Jan. 1, 1995..... July 1, 1995. \71/4\.......................... July 1, 1995..... Jan. 1, 1996. \61/2\.......................... Jan. 1, 1996..... July 1, 1996. \71/4\.......................... July 1, 1996..... Jan. 1, 1997. \63/4\.......................... Jan. 1, 1997..... July 1, 1997. \71/8\.......................... July 1, 1997..... Jan. 1, 1998. \63/8\.......................... Jan. 1, 1998..... July 1, 1998. \61/8\.......................... July 1, 1998...... Jan. 1, 1999. \51/2\.......................... Jan. 1, 1999..... July 1, 1999. \61/8\.......................... July 1, 1999..... Jan. 1, 2000. \61/2\.......................... Jan. 1, 2000..... July 1, 2000. \61/2\.......................... July 1, 2000..... Jan. 1, 2001. \6\............................. Jan. 1, 2001...... July 1, 2001. \57/8\.......................... July 1, 2001..... Jan. 1, 2002. \51/4\.......................... Jan. 1, 2002...... July 1, 2002. \53/4\.......................... July 1, 2002...... Jan. 1, 2003. \5\............................. Jan. 1, 2003...... July 1, 2003. \41/2\.......................... July 1, 2003..... Jan. 1, 2004. \51/8\.......................... Jan. 1, 2004...... July 1, 2004. \51/2\.......................... July 1, 2004...... Jan. 1, 2005. \47/8\.......................... Jan. 1, 2005...... July 1, 2005. \41/2\.......................... July 1, 2005..... Jan. 1, 2006. \47/8\.......................... Jan. 1, 2006..... July 1, 2006. \53/8\.......................... July 1, 2006...... Jan. 1, 2007. \43/4\.......................... Jan. 1, 2007...... July 1, 2007. \5\............................. July 1, 2007..... Jan. 1, 2008. \41/2 \......................... Jan. 1, 2008..... July 1, 2008. \45/8 \......................... July 1, 2008..... Jan. 1, 2009. \41/8\.......................... Jan. 1, 2009...... July 1, 2009. \41/8\.......................... July 1, 2009..... Jan. 1, 2010. \41/4\.......................... Jan. 1, 2010...... July 1, 2010. \41/8 \......................... July 1, 2010..... Jan. 1, 2011. \37/8 \......................... Jan. 1, 2011...... July 1, 2011. \41/8\.......................... July 1, 2011...... Jan. 1, 2012. \27/8\.......................... Jan. 1, 2012..... July 1, 2012. \23/4 \......................... July 1, 2012...... Jan. 1, 2013. \21/2\.......................... Jan. 1, 2013...... July 1, 2013. \27/8\.......................... July 1, 2013...... Jan. 1, 2014. \35/8\.......................... Jan. 1, 2014..... July 1, 2014. \31/4\.......................... July 1, 2014...... Jan. 1, 2015. \3\............................. Jan. 1, 2015...... July 1, 2015. \27/8\.......................... July 1, 2015..... Jan. 1, 2016. \27/8\.......................... Jan. 1, 2016..... July 1, 2016. \21/2 \......................... July 1, 2016...... Jan. 1, 2017. ------------------------------------------------------------------------ Section 215 of Division G, Title II of Public Law 108-199, enacted January 23, 2004 (HUD's 2004 Appropriations Act) amended section 224 of the Act, to change the debenture interest rate for purposes of calculating certain insurance claim payments made in cash. Therefore, for all claims paid in cash on mortgages insured under section 203 or 234 of the National Housing Act and endorsed for insurance after January 23, 2004, the debenture interest rate will be the monthly average yield, for the month in which the default on the mortgage occurred, on United States Treasury Securities adjusted to a constant maturity of 10 years, as found in Federal Reserve Statistical Release H-15. The Federal Housing Administration has codified this provision in HUD regulations at 24 CFR 203.405(b) and 24 CFR 203.479(b). Section 221(g)(4) of the Act provides that debentures issued pursuant to that paragraph (with respect to the assignment of an insured mortgage to the Secretary) will bear interest at the ``going Federal rate'' in effect at the time the debentures are issued. The term ``going Federal rate'' is defined to mean the interest rate that the Secretary of the Treasury determines, pursuant to a statutory formula based on the average yield on all outstanding marketable Treasury obligations of 8- to 12-year [[Page 49247]] maturities, for the 6-month periods of January through June and July through December of each year. Section 221(g)(4) is implemented in the HUD regulations at 24 CFR 221.255 and 24 CFR 221.790. The Secretary of the Treasury has determined that the interest rate to be borne by debentures issued pursuant to section 221(g)(4) during the 6-month period beginning July 1, 2016, is 1 3/4 percent. The subject matter of this notice falls within the categorical exemption from HUD's environmental clearance procedures set forth in 24 CFR 50.19(c)(6). For that reason, no environmental finding has been prepared for this notice. Authority: Sections 211, 221, 224, National Housing Act, 12 U.S.C. 1715b, 1715l, 1715o; Section 7(d), Department of HUD Act, 42 U.S.C. 3535(d). Dated: July 15, 2016. Edward L. Golding, Principal Deputy Assistant Secretary for Housing. [FR Doc. 2016-17783 Filed 7-26-16; 8:45 am] BILLING CODE 4210-67-P
![Federal Register / Vol. 81, No. 144 / Wednesday, July 27, 2016 / Notices 49245
Community Community map repository address
Ulster County, New York (All Jurisdictions)
Docket No.: FEMA–B–1404
Town of Denning ...................................................................................... Denning Town Clerk’s Office, 1567 Denning Road, Claryville, NY
12725.
Town of Hardenburgh ............................................................................... Hardenburgh Town Hall, 51 Rider Hollow Road, Arkville, NY 12406.
Town of Hurley ......................................................................................... Town Hall, 10 Wamsley Place, Hurley, NY 12443.
Town of Marbletown ................................................................................. Marbletown Town Hall, 1915 Lucas Avenue, Cottekill, NY 12419.
Town of Olive ........................................................................................... Olive Town Hall, 45 Watson Hollow Road, West Shokan, NY 12494.
Town of Shandaken ................................................................................. Town Hall, 7209 Route 28, Shandaken, NY 12480.
Town of Wawarsing .................................................................................. Wawarsing Town Assessor’s Office and Building Department, 108
Canal Street, Ellenville, NY 12428.
Town of Woodstock .................................................................................. Town Clerk’s Office, 45 Comeau Drive, Woodstock, NY 12498.
[FR Doc. 2016–17727 Filed 7–26–16; 8:45 am] each Federal agency to provide escorted, unescorted, and staff-like
BILLING CODE 9110–12–P interested Federal agencies and the access to Secret Service-controlled
public an early opportunity to comment facilities. Responses to questions on the
on information collection requests. The SSF 3237 yield information necessary
DEPARTMENT OF HOMELAND notice for this proposed information for the adjudication of eligibility for
SECURITY collection contains the following: (1) facility access.
The name of the component of the U.S. Agency: Department of Homeland
Secret Service Department of Homeland Security; (2) Security, United States Secret Service.
Type of review requested, e.g., new, Frequency: Occasionally.
30-Day Notice and Request for
revision, extension, existing or Type of Review: Revision of a
Comments
reinstatement; (3) OMB Control currently approved collection.
SUMMARY: The Department of Homeland Number, if applicable; (4) Title; (5) Affected Public: Individuals or
Security (DHS) has submitted the Summary of the collection; (6) Households/Business.
following information collection Description of the need for, and Estimated Number of Respondents:
requests (ICR) to the Office of proposed use of, the information; (7) 5000.
Management and Budget (OMB) for Respondents and frequency of Estimated Time per Respondent: 15
review and clearance in accordance collection; and (8) Reporting and/or minutes.
with the Paperwork Reduction Act of recordkeeping burden. Estimated Total Annual Burden
1995: 1620–0002. This information The Department of Homeland Hours: 1250 hours.
collection was previously published in Security invites public comment. Estimated Total Burden Cost (capital/
the Federal Register on May 19, 2016 at The Department of Homeland startup): None.
81 FR 31652, allowing for OMB review Security is especially interested in Total Burden Cost (operating/
and a 60-day public comment period. public comment addressing the maintaining): None.
No comments were received. This following issues: (1) Is this collection
Authority: This process is conduced in
notice allows for an additional 30 days necessary to the proper functions of the accordance with 5 CFR 1320.10.
for public comment. Department, including whether the
information will have practical utility; Dated: July 19, 2016.
DATES: Comments are encouraged and
(2) Is the estimate of burden for this Nancy House,
will be accepted until August 26, 2016.
information collection accurate; (3) How Acting Deputy Chief—Policy, Management
ADDRESSES: Written comments and/or and Organization Division, U.S. Secret
might the Department enhance the
suggestions regarding the items Service, U.S. Department of Homeland
quality, utility, and clarity of the
contained in this notice should be Security.
information to be collected; and (4) How
directed to the Office of Information and [FR Doc. 2016–17748 Filed 7–26–16; 8:45 am]
might the Department minimize the
Regulatory Affairs, Office of
burden of this collection on the BILLING CODE 4810–42–P
Management and Budget, Attn: Desk
respondents, including through the use
Officer for United States Secret Service,
Department of Homeland Security, and of information technology. All
comments will become a matter of DEPARTMENT OF HOUSING AND
sent via electronic mail to oira_
public record. In this document the U.S. URBAN DEVELOPMENT
submission@omb.eop.gov; or faxed to
202–395–5806. Secret Service is soliciting comments [Docket No. FR–5927–N–02]
concerning the following information
FOR FURTHER INFORMATION CONTACT:
collection: Mortgage and Loan Insurance
Requests for additional information or Title: U.S. Secret Service Facility
copies of the form(s) and instructions Programs Under the National Housing
Access Request. Act—Debenture Interest Rates
should be directed to: United States OMB Number: 1620–0002.
Secret Service, Security Management Form Number: SSF 3237. AGENCY: Office of the Assistant
Division, Attn: ATSAIC Jonathan Abstract: Respondents are primarily
sradovich on DSK3GMQ082PROD with NOTICES
Secretary for Housing—Federal Housing
Bryant, Communications Center (SMD), Secret Service contractor personnel or Commissioner, HUD.
345 Murray Lane SW., Building T5, non-Secret Service Government ACTION: Notice.
Washington, DC 20223. Telephone employees on official business that
number: 202–406–6658. require access to Secret Service SUMMARY: This notice announces
SUPPLEMENTARY INFORMATION: Section controlled facilities in performance of changes in the interest rates to be paid
3506 of the Paperwork Reduction Act of official duties. These individuals, if on debentures issued with respect to a
1995 (44 U.S.C. Chapter 35) requires approved for access, will require loan or mortgage insured by the Federal
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![Federal Register / Vol. 81, No. 144 / Wednesday, July 27, 2016 / Notices 49247
maturities, for the 6-month periods of (OMB) for review, as required by the necessary for the proper performance of
January through June and July through Paperwork Reduction Act. The the functions of the agency, including if
December of each year. Section 221(g)(4) Department is soliciting public the information will have practical
is implemented in the HUD regulations comments on the subject proposal. utility; (2) Evaluate the accuracy of the
at 24 CFR 221.255 and 24 CFR 221.790. DATES: Comments Due Date: September agency’s estimate of the burden of
The Secretary of the Treasury has 26, 2016. proposed collection of information; (3)
determined that the interest rate to be ADDRESSES: Interested persons are Enhance the quality, utility, and clarity
borne by debentures issued pursuant to invited to submit comments regarding of the information to be collected; and
section 221(g)(4) during the 6-month this proposal. Comments should refer to (4) Minimize the burden of the
period beginning July 1, 2016, is 1 3/4 the proposal by name and/or OMB collection of information on those who
percent. Control Number and should be sent to: are to respond, including through the
The subject matter of this notice falls Anna Guido, Reports Management use of appropriate automated collection
within the categorical exemption from Officer, QDAM, Department of Housing techniques or other forms of information
HUD’s environmental clearance and Urban Development, 451 7th Street technology, e.g., permitting electronic
procedures set forth in 24 CFR SW., Room 4176, Washington, DC submission of responses.
50.19(c)(6). For that reason, no 20410–5000; telephone 202–402–5535 This notice also lists the following
environmental finding has been (this is not a toll-free number) or email information:
prepared for this notice. at Anna.P.Guido@hud.gov for a copy of Title of Proposal: License for the Use
Authority: Sections 211, 221, 224, the proposed forms or other available of Personally Identifiable Information
National Housing Act, 12 U.S.C. 1715b, information. Persons with hearing or
Protected Under the Privacy Act of
1715l, 1715o; Section 7(d), Department of speech impairments may access this
HUD Act, 42 U.S.C. 3535(d).
1974.
number through TTY by calling the toll-
free Federal Relay Service at (800) 877– Description of the need for
Dated: July 15, 2016.
8339. information and proposed use: The
Edward L. Golding,
FOR FURTHER INFORMATION CONTACT: United States Department of Housing
Principal Deputy Assistant Secretary for and Urban Department (HUD) has
Housing. Anna Guido, Reports Management
Officer, QDAM, Department of Housing collected and maintains personally
[FR Doc. 2016–17783 Filed 7–26–16; 8:45 am] identifiable information, the
BILLING CODE 4210–67–P
and Urban Development, 451 7th Street
SW., Washington, DC 20410; email confidentiality of which is protected by
Anna Guido at Anna.P.Guido@hud.gov the Privacy Act of 1974 (5 U.S.C. 522A).
or telephone 202–402–5535. This is not HUD wishes to make the data available
DEPARTMENT OF HOUSING AND for statistical, research, or evaluation
URBAN DEVELOPMENT a toll-free number. Persons with hearing
or speech impairments may access this purposes for qualified organizations
[Docket No. FR–5915–C–05] number through TTY by calling the toll- capable of research and analysis
free Federal Relay Service at (800) 877– consistent with the statistical, research,
60 Day Notice of Proposed Information 8339. or evaluation purposes for which the
Collection for License for the Use of Copies of available documents data were provided or are maintained,
Personally Identifiable Information submitted to OMB may be obtained but only if the data are used and
Protected Under the Privacy Act of from Ms. Guido. protected in accordance with the terms
1974 and conditions stated in this license
SUPPLEMENTARY INFORMATION: The
AGENCY: Office of Policy Development Department will submit the proposed (License). Upon receipt of such
and Research, HUD. information collection to OMB for assurance of qualification and
review, as required by the Paperwork capability, it is hereby agreed between
ACTION: Correction; notice.
Reduction Act of 1995 (44 U.S.C. HUD and (Name of the organization to
SUMMARY: This notice replaces the chapter 35, as amended). This notice is be licensed) that the license be granted.
document HUD published on July 11, soliciting comments from members of Estimation of the total number of
2016 at 81 FR 44891. The proposed the public and affected agencies hours needed to prepare the information
information collection requirement concerning the proposed collection of collection including number of
described below will be submitted to information to: (1) Evaluate whether the respondents, frequency of response, and
the Office of Management and Budget proposed collection of information is hours of response:
Number of Total annual Hours per
Instrument Total hours
respondents responses response
Applicants ........................................................................................................ 12 12 1 12
Quarterly Reports ............................................................................................ 0 0 0 0
Annual Reports ................................................................................................ 40 40 1 40
Final Reports ................................................................................................... 6 6 .25 1.5
Recordkeeping ................................................................................................. 12 36 0.5 18
Total .......................................................................................................... 12 94 2.75 71.5
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Document Created: 2018-02-08 08:02:23
Document Modified: 2018-02-08 08:02:23
| Category | Regulatory Information | |
| Collection | Federal Register | |
| sudoc Class | AE 2.7: GS 4.107: AE 2.106: | |
| Publisher | Office of the Federal Register, National Archives and Records Administration | |
| Section | Notices | |
| Action | Notice. | |
| Contact | Yong Sun, Department of Housing and Urban Development, 451 Seventh Street SW., Room 5148, Washington, DC 20410-8000; telephone (202) 402-4778 (this is not a toll-free number). Individuals with speech or hearing impairments may access this number through TTY by calling the toll-free Federal Relay Service at (800) 877-8339. | |
| FR Citation | 81 FR 49245 |
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