83 FR 36614 - Mortgage and Loan Insurance Programs Under the National Housing Act-Debenture Interest Rates
DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT Federal Register Volume 83, Issue 146 (July 30, 2018)
Federal Register Volume 83, Issue 146 (July 30, 2018)
| Page Range | 36614-36616 | |
| FR Document | 2018-16255 |
[Federal Register Volume 83, Number 146 (Monday, July 30, 2018)] [Notices] [Pages 36614-36616] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2018-16255] ----------------------------------------------------------------------- DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT [Docket No. FR-6078-N-02] Mortgage and Loan Insurance Programs Under the National Housing Act--Debenture Interest Rates AGENCY: Office of the Assistant Secretary for Housing, 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 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, 2018, is 3 [[Page 36615]] 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, 2018, is 3\1/8\ percent. 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 Information 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, 2018, is 3\1/8\ percent; and (2) has approved the establishment of the debenture interest rate by the Secretary of HUD at 3\1/8\ percent for the 6-month period beginning July 1, 2018. 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 2018. 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 ------------------------------------------------------------------------ 9\1/2\.......................... Jan. 1, 1980...... July 1, 1980. 9\7/8\.......................... July 1, 1980...... Jan. 1, 1981. 11\3/4\......................... Jan. 1, 1981...... July 1, 1981. 12\7/8\......................... July 1, 1981...... Jan. 1, 1982. 12\3/4\......................... Jan. 1, 1982...... Jan. 1, 1983. 10\1/4\......................... Jan. 1, 1983...... July 1, 1983. 10\3/8\......................... July 1, 1983...... Jan. 1, 1984. 11\1/2\......................... Jan. 1, 1984...... July 1, 1984. 13\3/8\......................... July 1, 1984...... Jan. 1, 1985. 11\5/8\......................... Jan. 1, 1985...... July 1, 1985. 11\1/8\......................... 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. 9\1/8\.......................... Jan. 1, 1988...... July 1, 1988. 9\3/8\.......................... July 1, 1988...... Jan. 1, 1989. 9\1/4\.......................... Jan. 1, 1989...... July 1, 1989. 9............................... July 1, 1989...... Jan. 1, 1990. 8\1/8\.......................... Jan. 1, 1990...... July 1, 1990. 9............................... July 1, 1990...... Jan. 1, 1991. 8\3/4\.......................... Jan. 1, 1991...... July 1, 1991. 8\1/2\.......................... July 1, 1991...... Jan. 1, 1992. 8............................... Jan. 1, 1992...... July 1, 1992. 8............................... July 1, 1992...... Jan. 1, 1993. 7\3/4\.......................... Jan. 1, 1993...... July 1, 1993. 7............................... July 1, 1993...... Jan. 1, 1994. 6\5/8\.......................... Jan. 1, 1994...... July 1, 1994. 7\3/4\.......................... July 1, 1994...... Jan. 1, 1995. 8\3/8\.......................... Jan. 1, 1995...... July 1, 1995. 7\1/4\.......................... July 1, 1995...... Jan. 1, 1996. 6\1/2\.......................... Jan. 1, 1996...... July 1, 1996. 7\1/4\.......................... July 1, 1996...... Jan. 1, 1997. 6\3/4\.......................... Jan. 1, 1997...... July 1, 1997. 7\1/8\.......................... July 1, 1997...... Jan. 1, 1998. 6\3/8\.......................... Jan. 1, 1998...... July 1, 1998. 6\1/8\.......................... July 1, 1998...... Jan. 1, 1999. 5\1/2\.......................... Jan. 1, 1999...... July 1, 1999. 6\1/8\.......................... July 1, 1999...... Jan. 1, 2000. 6\1/2\.......................... Jan. 1, 2000...... July 1, 2000. 6\1/2\.......................... July 1, 2000...... Jan. 1, 2001. 6............................... Jan. 1, 2001...... July 1, 2001. 5\7/8\.......................... July 1, 2001...... Jan. 1, 2002. 5\1/4\.......................... Jan. 1, 2002...... July 1, 2002. 5\3/4\.......................... July 1, 2002...... Jan. 1, 2003. 5............................... Jan. 1, 2003...... July 1, 2003. 4\1/2\.......................... July 1, 2003...... Jan. 1, 2004. 5\1/8\.......................... Jan. 1, 2004...... July 1, 2004. 5\1/2\.......................... July 1, 2004...... Jan. 1, 2005. 4\7/8\.......................... Jan. 1, 2005...... July 1, 2005. 4\1/2\.......................... July 1, 2005...... Jan. 1, 2006. 4\7/8\.......................... Jan. 1, 2006...... July 1, 2006. 5\3/8\.......................... July 1, 2006...... Jan. 1, 2007. 4\3/4\.......................... Jan. 1, 2007...... July 1, 2007. 5............................... July 1, 2007...... Jan. 1, 2008. 4\1/2\.......................... Jan. 1, 2008...... July 1, 2008. 4\5/8\.......................... July 1, 2008...... Jan. 1, 2009. 4\1/8\.......................... Jan. 1, 2009...... July 1, 2009. 4\1/8\.......................... July 1, 2009...... Jan. 1, 2010. 4\1/4\.......................... Jan. 1, 2010...... July 1, 2010. 4\1/8\.......................... July 1, 2010...... Jan. 1, 2011. 3\7/8\.......................... Jan. 1, 2011...... July 1, 2011. 4\1/8\.......................... July 1, 2011...... Jan. 1, 2012. 2\7/8\.......................... Jan. 1, 2012...... July 1, 2012. 2\3/4\.......................... July 1, 2012...... Jan. 1, 2013. 2\1/2\.......................... Jan. 1, 2013...... July 1, 2013. 2\7/8\.......................... July 1, 2013...... Jan. 1, 2014. 3\5/8\.......................... Jan. 1, 2014...... July 1, 2014. 3\1/4\.......................... July 1, 2014...... Jan. 1, 2015. 3............................... Jan. 1, 2015...... July 1, 2015. 2\7/8\.......................... July 1, 2015...... Jan. 1, 2016. 2\7/8\.......................... Jan. 1, 2016...... July 1, 2016. 2\1/2\.......................... July 1, 2016...... Jan. 1, 2017. 2\3/4\.......................... Jan. 1, 2017...... July 1, 2017. 2\7/8\.......................... July 1, 2017...... Jan. 1, 2018. 2\3/4\.......................... Jan. 1, 2018...... July 1, 2018. 3\1/8\.......................... July 1, 2018...... Jan. 1, 2019. ------------------------------------------------------------------------ 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 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, 2018, is 3 percent. The subject matter of this notice falls within the categorical exemption from HUD's environmental clearance procedures set forth in 24 CFR [[Page 36616]] 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 24, 2018. Brian D. Montgomery, Assistant Secretary for Housing--Federal Housing Commissioner. [FR Doc. 2018-16255 Filed 7-27-18; 8:45 am] BILLING CODE 4210-67-P
![36614 Federal Register / Vol. 83, No. 146 / Monday, July 30, 2018 / Notices
DEPARTMENT OF HOUSING AND the proposed forms or other available Native American Housing Assistance
URBAN DEVELOPMENT information. Persons with hearing or and Self-Determination Reauthorization
speech impairments may access this Act (NAHASDA) authorizes funding for
[Docket No. FR–7006–N–11]
number through TTY by calling the toll- the Indian Housing Block Grant (IHBG)
60-Day Notice of Proposed Information free Federal Relay Service at (800) 877– program that supports the development,
Collection: ONAP Training and 8339. management, and operation of
Technical Assistance Evaluation Form FOR FURTHER INFORMATION CONTACT: affordable homeownership and rental
Colette Pollard, Reports Management housing; infrastructure development;
AGENCY: Office of the Assistant Officer, QDAM, Department of Housing and other forms of housing assistance
Secretary for Public and Indian and Urban Development, 451 7th Street intended for low-income persons.
Housing, PIH, HUD. SW, Washington, DC 20410; email Federally-recognized Native American
ACTION: Notice. Colette Pollard at Colette.Pollard@ and Alaska Native tribes, tribally-
hud.gov or telephone 202–402–3400. designated housing entities, and the
SUMMARY: HUD is seeking approval from This is not a toll-free number. Persons Department of Hawaiian Home Lands
the Office of Management and Budget with hearing or speech impairments are eligible to receive IHBG funds.
(OMB) for the information collection may access this number through TTY by HUD’s Office of Native American
described below. In accordance with the calling the toll-free Federal Relay Programs (ONAP) administers the IHBG
Paperwork Reduction Act, HUD is Service at (800) 877–8339. program and offers contracted training
requesting comment from all interested Copies of available documents and technical assistance to IHBG
parties on the proposed collection of submitted to OMB may be obtained recipients on program requirements.
information. The purpose of this notice from Ms. Pollard. ONAP’s Notice of Funding Availability
is to allow for 60 days of public for training and technical assistance
comment. SUPPLEMENTARY INFORMATION: This
notice informs the public that HUD is services includes the requirement for
DATES: Comments Due Date: September seeking approval from OMB for the the contractor(s) to use an OMB-
28, 2018. information collection described in approved evaluation form at all ONAP-
ADDRESSES: Interested persons are Section A. sponsored events. At the end of each
invited to submit comments regarding training and technical assistance event,
this proposal. Comments should refer to A. Overview of Information Collection participants are invited to voluntarily
the proposal by name and/or OMB Title of Information Collection: ONAP complete the Training and Technical
Control Number and should be sent to: Training and Technical Assistance Assistance Evaluation Form (form
Colette Pollard, Reports Management Evaluation Form. HUD–5879) to assess training and
Officer, QDAM, Department of Housing OMB Approval Number: Pending technical assistance effectiveness and
and Urban Development, 451 7th Street OMB Approval. solicit ideas for improvement. Form
SW, Room 4176, Washington, DC Type of Request: New Collection. HUD–5879 is a one-page survey
20410–5000; telephone 202–402–3400 Form Number: Form HUD–5879. instrument and does not collect any
(this is not a toll-free number) or email Description of the Need for the personally identifiable information,
at Colette.Pollard@hud.gov for a copy of Information and Proposed Use: The including a participant’s name.
Number of Frequency of Responses Burden hour Annual burden Hourly cost
Information collection Annual cost
respondents response per annum per response hours per response
HUD–5879 ................... 40 200 8,000 .2 1,600 $36 $57,600
Total ...................... 40 200 8,000 .2 1,600 36 57,600
B. Solicitation of Public Comment information technology, e.g., permitting DEPARTMENT OF HOUSING AND
This notice is soliciting comments electronic submission of responses. URBAN DEVELOPMENT
from members of the public and affected HUD encourages interested parties to
parties concerning the collection of submit comment in response to these [Docket No. FR–6078–N–02]
information described in Section A on questions. Mortgage and Loan Insurance
the following:
C. Authority Programs Under the National Housing
(1) Whether the proposed collection
Act—Debenture Interest Rates
of information is necessary for the Section 3507 of the Paperwork
proper performance of the functions of Reduction Act of 1995, 44 U.S.C. AGENCY: Office of the Assistant
the agency, including whether the Chapter 35. Secretary for Housing, HUD.
information will have practical utility; ACTION: Notice.
(2) The accuracy of the agency’s Dated: July 2, 2018.
estimate of the burden of the proposed Merrie Nichols-Dixon, Director, SUMMARY: This Notice announces
collection of information; Office of Policy, Program and Legislative changes in the interest rates to be paid
(3) Ways to enhance the quality, Initiatives. on debentures issued with respect to a
daltland on DSKBBV9HB2PROD with NOTICES
utility, and clarity of the information to [FR Doc. 2018–16141 Filed 7–27–18; 8:45 am] loan or mortgage insured by the Federal
be collected; and BILLING CODE 4210–67–P
Housing Administration under the
(4) Ways to minimize the burden of provisions of the National Housing Act
the collection of information on those (the Act). The interest rate for
who are to respond; including through debentures issued under Section
the use of appropriate automated 221(g)(4) of the Act during the 6-month
collection techniques or other forms of period beginning July 1, 2018, is 3
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![36616 Federal Register / Vol. 83, No. 146 / Monday, July 30, 2018 / Notices
50.19(c)(6). For that reason, no available 24 hours a day, 7 days a week, right to prospect for, mine, and remove
environmental finding has been to leave a message or question with the such deposits for the same under
prepared for this notice. above individual. You will receive a applicable law and such regulations as
(Authority: Sections 211, 221, 224, National reply during normal business hours. the Secretary of the Interior may
Housing Act, 12 U.S.C. 1715b, 1715l, 1715o; SUPPLEMENTARY INFORMATION: The parcel prescribe; and
Section 7(d), Department of HUD Act, 42 is located south of Mountains Edge 3. The parcel is subject to valid
U.S.C. 3535(d)) Parkway off El Capitan Way in existing rights.
Dated: July 24, 2018. southwest Las Vegas and is legally Any lease and conveyance will also
Brian D. Montgomery, described as: contain any terms or conditions
Assistant Secretary for Housing—Federal required by law (including, but not
Mount Diablo Meridian, Nevada limited to, any terms or conditions
Housing Commissioner.
[FR Doc. 2018–16255 Filed 7–27–18; 8:45 am]
T. 22 S., R. 60 E., required by 43 CFR 2741.4), and will
Sec. 29, SW1⁄4NW1⁄4SE1⁄4, contain an appropriate indemnification
BILLING CODE 4210–67–P W1⁄2SE1⁄4NW1⁄4SE1⁄4. clause protecting the United States from
The area described contains 15 acres in claims arising out of the lessee’s/
Clark County, Nevada. patentee’s use, occupancy, or operations
DEPARTMENT OF THE INTERIOR
The Clark County School District has on the leased/patented lands. It will also
Bureau of Land Management filed an R&PP application to develop the contain any other terms and conditions
above-described land as an elementary deemed necessary and appropriate by
[LLNVS01000.L58530000.EQ0000.241A; N– school. The project will consist of five the Authorized Officer.
95402; 12–08807; MO#4500118043; school buildings, parking for school Upon publication of this notice in the
TAS:15X5232]
staff, public parking, busing routes with Federal Register, the land described
Notice of Realty Action: Classification student pick-up and drop-off points, above will be segregated from all other
for Lease and/or Conveyance for kindergarten classrooms with a fenced- forms of appropriation under the public
Recreation and Public Purposes of off play area, areas for basketball courts, land laws, including the general mining
Public Lands (N–95402) for a School in ball fields, bike racks, shaded rest areas, laws, except for lease and conveyance
the Southwest Portion of the Las a botanical learning area, a turf play under the R&PP Act, leasing under the
Vegas Valley, Clark County, NV area, playgrounds, a tetherball court mineral leasing laws, and disposals
area, and utilities. Additional detailed under the mineral material disposal
AGENCY: Bureau of Land Management, information pertaining to this laws.
Department of Interior. publication, plan of development, and Interested parties may submit written
ACTION: Notice of realty action. site plan is available for review at the comments on the suitability for
BLM Las Vegas Field Office at the above classification of the land as a school
SUMMARY: The Bureau of Land address. project in the City of Las Vegas.
Management (BLM), Las Vegas Field The Clark County School District is a Comments on the classification are
Office, has examined and found suitable political subdivision of the State of restricted to whether the land is
for classification for lease and Nevada, and is, therefore, a qualified physically suited for the proposal,
subsequent conveyance under the applicant under the R&PP Act. whether the use will maximize the
provisions of the Recreation and Public Subject to limitations prescribed by
future use or uses of the land, whether
Purposes Act (R&PP), as amended, law and regulation, prior to patent
the use is consistent with local planning
approximately 15 acres of public land in issuance, the holder of any right-of-way
and zoning, or if the use is consistent
the Las Vegas Valley, Clark County, grant within the lease area may be given
with state and Federal programs.
Nevada. The Clark County School the opportunity to amend the right-of-
Interested parties may also submit
District proposes to use the land for an way grant for conversion to a new term,
written comments regarding the specific
elementary school that will help meet including perpetuity, if applicable.
The land identified is not needed for use proposed in the application and
future educational needs in the
any Federal purpose. The lease and/or plan of development, and whether the
southwestern part of the Las Vegas
conveyance is consistent with the BLM BLM followed proper administrative
Valley.
Las Vegas Resource Management Plan procedures in reaching the decision to
DATES: Interested parties may submit lease and convey under the R&PP Act.
dated October 5, 1998, and would be in
written comments regarding the Before including your address, phone
the public interest. The Clark County
proposed classification for lease and number, emails address, or other
School District has not applied for more
conveyance of the land until September personal identifying information in your
than the 640-acre limitation for public
13, 2018. comment, you should be aware that
purpose uses in a year and has
ADDRESSES: Mail written comments to your entire comment—including your
submitted a statement in compliance
the BLM Las Vegas Field Office, 4701 with the regulations at 43 CFR personal identifying information—may
North Torrey Pines Drive, Las Vegas, 2741.4(b). be made publicly available at any time.
Nevada 89130, fax to 775–515–5010, The lease and conveyance, when While you can ask us in your comment
Attn: Vivian Browning, or email to issued, will be subject to the provisions to withhold your personal identifying
vbrowning@blm.gov. of the R&PP Act and applicable information from public review, we
FOR FURTHER INFORMATION CONTACT: regulations of the Secretary of the cannot guarantee that we will be able to
Vivian Browning at the above address, Interior, and will contain the following do so. Only written comments
daltland on DSKBBV9HB2PROD with NOTICES
telephone: 702–515–5013, email: reservations to the United States: submitted to the Field Manager, BLM
vbrowning@blm.gov. Persons who use a 1. A right-of-way thereon for ditches Las Vegas Field Office, will be
telecommunications device for the deaf or canals constructed by the authority of considered properly filed. Any adverse
(TDD) may call the Federal Relay the United States, Act of August 30, comments will be reviewed as protests,
Service (FRS) at 1–800–877–8339 to 1890 (43 U.S.C. 945); by the BLM Nevada State Director, who
contact the above individual during 2. All minerals shall be reserved to may sustain, vacate, or modify this
normal business hours. The FRS is the United States, together with the realty action.
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Document Created: 2018-07-28 01:44:39
Document Modified: 2018-07-28 01:44:39
| 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 Information Relay Service at (800) 877-8339. | |
| FR Citation | 83 FR 36614 |
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