Mortgage and Loan Insurance Programs Under the National Housing Act-Debenture Interest Rates, 49245-49247 [2016-17783]
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Federal Register / Vol. 81, No. 144 / Wednesday, July 27, 2016 / Notices
Community
49245
Community map repository address
Ulster County, New York (All Jurisdictions)
Docket No.: FEMA–B–1404
Town of Denning ......................................................................................
Town
Town
Town
Town
Town
Town
of
of
of
of
of
of
Hardenburgh ...............................................................................
Hurley .........................................................................................
Marbletown .................................................................................
Olive ...........................................................................................
Shandaken .................................................................................
Wawarsing ..................................................................................
Town of Woodstock ..................................................................................
[FR Doc. 2016–17727 Filed 7–26–16; 8:45 am]
BILLING CODE 9110–12–P
DEPARTMENT OF HOMELAND
SECURITY
Secret Service
30-Day Notice and Request for
Comments
The Department of Homeland
Security (DHS) has submitted the
following information collection
requests (ICR) to the Office of
Management and Budget (OMB) for
review and clearance in accordance
with the Paperwork Reduction Act of
1995: 1620–0002. This information
collection was previously published in
the Federal Register on May 19, 2016 at
81 FR 31652, allowing for OMB review
and a 60-day public comment period.
No comments were received. This
notice allows for an additional 30 days
for public comment.
DATES: Comments are encouraged and
will be accepted until August 26, 2016.
ADDRESSES: Written comments and/or
suggestions regarding the items
contained in this notice should be
directed to the Office of Information and
Regulatory Affairs, Office of
Management and Budget, Attn: Desk
Officer for United States Secret Service,
Department of Homeland Security, and
sent via electronic mail to oira_
submission@omb.eop.gov; or faxed to
202–395–5806.
FOR FURTHER INFORMATION CONTACT:
Requests for additional information or
copies of the form(s) and instructions
should be directed to: United States
Secret Service, Security Management
Division, Attn: ATSAIC Jonathan
Bryant, Communications Center (SMD),
345 Murray Lane SW., Building T5,
Washington, DC 20223. Telephone
number: 202–406–6658.
SUPPLEMENTARY INFORMATION: Section
3506 of the Paperwork Reduction Act of
1995 (44 U.S.C. Chapter 35) requires
sradovich on DSK3GMQ082PROD with NOTICES
SUMMARY:
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17:01 Jul 26, 2016
Jkt 238001
Denning Town Clerk’s Office, 1567 Denning Road, Claryville, NY
12725.
Hardenburgh Town Hall, 51 Rider Hollow Road, Arkville, NY 12406.
Town Hall, 10 Wamsley Place, Hurley, NY 12443.
Marbletown Town Hall, 1915 Lucas Avenue, Cottekill, NY 12419.
Olive Town Hall, 45 Watson Hollow Road, West Shokan, NY 12494.
Town Hall, 7209 Route 28, Shandaken, NY 12480.
Wawarsing Town Assessor’s Office and Building Department, 108
Canal Street, Ellenville, NY 12428.
Town Clerk’s Office, 45 Comeau Drive, Woodstock, NY 12498.
each Federal agency to provide
interested Federal agencies and the
public an early opportunity to comment
on information collection requests. The
notice for this proposed information
collection contains the following: (1)
The name of the component of the U.S.
Department of Homeland Security; (2)
Type of review requested, e.g., new,
revision, extension, existing or
reinstatement; (3) OMB Control
Number, if applicable; (4) Title; (5)
Summary of the collection; (6)
Description of the need for, and
proposed use of, the information; (7)
Respondents and frequency of
collection; and (8) Reporting and/or
recordkeeping burden.
The Department of Homeland
Security invites public comment.
The Department of Homeland
Security is especially interested in
public comment addressing the
following issues: (1) Is this collection
necessary to the proper functions of the
Department, including whether the
information will have practical utility;
(2) Is the estimate of burden for this
information collection accurate; (3) How
might the Department enhance the
quality, utility, and clarity of the
information to be collected; and (4) How
might the Department minimize the
burden of this collection on the
respondents, including through the use
of information technology. All
comments will become a matter of
public record. In this document the U.S.
Secret Service is soliciting comments
concerning the following information
collection:
Title: U.S. Secret Service Facility
Access Request.
OMB Number: 1620–0002.
Form Number: SSF 3237.
Abstract: Respondents are primarily
Secret Service contractor personnel or
non-Secret Service Government
employees on official business that
require access to Secret Service
controlled facilities in performance of
official duties. These individuals, if
approved for access, will require
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Fmt 4703
Sfmt 4703
escorted, unescorted, and staff-like
access to Secret Service-controlled
facilities. Responses to questions on the
SSF 3237 yield information necessary
for the adjudication of eligibility for
facility access.
Agency: Department of Homeland
Security, United States Secret Service.
Frequency: Occasionally.
Type of Review: Revision of a
currently approved collection.
Affected Public: Individuals or
Households/Business.
Estimated Number of Respondents:
5000.
Estimated Time per Respondent: 15
minutes.
Estimated Total Annual Burden
Hours: 1250 hours.
Estimated Total Burden Cost (capital/
startup): None.
Total Burden Cost (operating/
maintaining): None.
Authority: This process is conduced in
accordance with 5 CFR 1320.10.
Dated: July 19, 2016.
Nancy House,
Acting Deputy Chief—Policy, Management
and Organization Division, U.S. Secret
Service, U.S. Department of Homeland
Security.
[FR Doc. 2016–17748 Filed 7–26–16; 8:45 am]
BILLING CODE 4810–42–P
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
Office of the Assistant
Secretary for Housing—Federal Housing
Commissioner, HUD.
ACTION: Notice.
AGENCY:
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
SUMMARY:
E:\FR\FM\27JYN1.SGM
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sradovich on DSK3GMQ082PROD with NOTICES
49246
Federal Register / Vol. 81, No. 144 / Wednesday, July 27, 2016 / Notices
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
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17:01 Jul 26, 2016
Jkt 238001
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
21⁄2percent; and (2) has approved the
establishment of the debenture interest
rate by the Secretary of HUD at
21⁄2percent 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
⁄ .............
⁄ .............
113⁄4 ...........
127⁄8 ...........
123⁄4 ...........
101⁄4 ...........
103⁄8 ...........
111⁄2 ...........
133⁄8 ...........
115⁄8 ...........
111⁄8 ...........
10 1⁄4 ...........
8 1⁄4 ............
8 .................
9 .................
91⁄8 .............
93⁄8 .............
91⁄4 .............
9 .................
81⁄8 .............
9 .................
83⁄4 .............
81⁄2 .............
8 .................
8 .................
73⁄4 .............
7 .................
65⁄8 .............
73⁄4 .............
83⁄8 .............
71⁄4 .............
61⁄2 .............
71⁄4 .............
63⁄4 .............
71⁄8 .............
63⁄8 .............
61⁄8 .............
51⁄2 .............
61⁄8 .............
61⁄2 .............
Jan. 1, 1980 ..
July 1, 1980 ...
Jan. 1, 1981 ..
July 1, 1981 ...
Jan. 1, 1982 ..
Jan. 1, 1983 ..
July 1, 1983 ...
Jan. 1, 1984 ..
July 1, 1984 ...
Jan. 1, 1985 ..
July 1, 1985 ...
Jan. 1, 1986 ..
July 1, 1986 ...
Jan. 1, 1987 ..
July 1, 1987 ...
Jan. 1, 1988 ..
July 1, 1988 ...
Jan. 1, 1989 ..
July 1, 1989 ...
Jan. 1, 1990 ..
July 1, 1990 ...
Jan. 1, 1991 ..
July 1, 1991 ...
Jan. 1, 1992 ..
July 1, 1992 ...
Jan. 1, 1993 ..
July 1, 1993 ...
Jan. 1, 1994 ..
July 1, 1994 ...
Jan. 1, 1995 ..
July 1, 1995 ...
Jan. 1, 1996 ..
July 1, 1996 ...
Jan. 1, 1997 ..
July 1, 1997 ...
Jan. 1, 1998 ..
July 1, 1998 ...
Jan. 1, 1999 ..
July 1, 1999 ...
Jan. 1, 2000 ..
91 2
97 8
PO 00000
Frm 00039
Fmt 4703
Prior to
July 1, 1980.
Jan. 1, 1981.
July 1, 1981.
Jan. 1, 1982.
Jan. 1, 1983.
July 1, 1983.
Jan. 1, 1984.
July 1, 1984.
Jan. 1, 1985.
July 1, 1985.
Jan. 1, 1986.
July 1, 1986.
Jan. 1. 1987.
July 1, 1987.
Jan. 1, 1988.
July 1, 1988.
Jan. 1, 1989.
July 1, 1989.
Jan. 1, 1990.
July 1, 1990.
Jan. 1, 1991.
July 1, 1991.
Jan. 1, 1992.
July 1, 1992.
Jan. 1, 1993.
July 1, 1993.
Jan. 1, 1994.
July 1, 1994.
Jan. 1, 1995.
July 1, 1995.
Jan. 1, 1996.
July 1, 1996.
Jan. 1, 1997.
July 1, 1997.
Jan. 1, 1998.
July 1, 1998.
Jan. 1, 1999.
July 1, 1999.
Jan. 1, 2000.
July 1, 2000.
Sfmt 4703
Effective
interest rate
On or after
⁄ .............
.................
57⁄8 .............
51⁄4 .............
53⁄4 .............
5 .................
41⁄2 .............
51⁄8 .............
51⁄2 .............
47⁄8 .............
41⁄2 .............
47⁄8 .............
53⁄8 .............
43⁄4 .............
5 .................
41⁄2 ............
45⁄8 ............
41⁄8 .............
41⁄8 .............
41⁄4 .............
41⁄8 ............
37⁄8 ............
41⁄8 .............
27⁄8 .............
23⁄4 ............
21⁄2 .............
27⁄8 .............
35⁄8 .............
31⁄4 .............
3 .................
27⁄8 .............
27⁄8 .............
21⁄2 ............
July 1, 2000 ...
Jan. 1, 2001 ..
July 1, 2001 ...
Jan. 1, 2002 ..
July 1, 2002 ...
Jan. 1, 2003 ..
July 1, 2003 ...
Jan. 1, 2004 ..
July 1, 2004 ...
Jan. 1, 2005 ..
July 1, 2005 ...
Jan. 1, 2006 ..
July 1, 2006 ...
Jan. 1, 2007 ..
July 1, 2007 ...
Jan. 1, 2008 ..
July 1, 2008 ...
Jan. 1, 2009 ..
July 1, 2009 ...
Jan. 1, 2010 ..
July 1, 2010 ...
Jan. 1, 2011 ..
July 1, 2011 ...
Jan. 1, 2012 ..
July 1, 2012 ...
Jan. 1, 2013 ..
July 1, 2013 ...
Jan. 1, 2014 ..
July 1, 2014 ...
Jan. 1, 2015 ..
July 1, 2015 ...
Jan. 1, 2016 ..
July 1, 2016 ...
61 2
6
Prior to
Jan. 1, 2001.
July 1, 2001.
Jan. 1, 2002.
July 1, 2002.
Jan. 1, 2003.
July 1, 2003.
Jan. 1, 2004.
July 1, 2004.
Jan. 1, 2005.
July 1, 2005.
Jan. 1, 2006.
July 1, 2006.
Jan. 1, 2007.
July 1, 2007.
Jan. 1, 2008.
July 1, 2008.
Jan. 1, 2009.
July 1, 2009.
Jan. 1, 2010.
July 1, 2010.
Jan. 1, 2011.
July 1, 2011.
Jan. 1, 2012.
July 1, 2012.
Jan. 1, 2013.
July 1, 2013.
Jan. 1, 2014.
July 1, 2014.
Jan. 1, 2015.
July 1, 2015.
Jan. 1, 2016.
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
E:\FR\FM\27JYN1.SGM
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49247
Federal Register / Vol. 81, No. 144 / Wednesday, July 27, 2016 / Notices
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
DEPARTMENT OF HOUSING AND
URBAN DEVELOPMENT
[Docket No. FR–5915–C–05]
60 Day Notice of Proposed Information
Collection for License for the Use of
Personally Identifiable Information
Protected Under the Privacy Act of
1974
Office of Policy Development
and Research, HUD.
ACTION: Correction; notice.
AGENCY:
This notice replaces the
document HUD published on July 11,
2016 at 81 FR 44891. The proposed
information collection requirement
described below will be submitted to
the Office of Management and Budget
SUMMARY:
(OMB) for review, as required by the
Paperwork Reduction Act. The
Department is soliciting public
comments on the subject proposal.
DATES: Comments Due Date: September
26, 2016.
ADDRESSES: Interested persons are
invited to submit comments regarding
this proposal. Comments should refer to
the proposal by name and/or OMB
Control Number and should be sent to:
Anna Guido, Reports Management
Officer, QDAM, Department of Housing
and Urban Development, 451 7th Street
SW., Room 4176, Washington, DC
20410–5000; telephone 202–402–5535
(this is not a toll-free number) or email
at Anna.P.Guido@hud.gov for a copy of
the proposed forms or other available
information. Persons with hearing or
speech impairments may access this
number through TTY by calling the tollfree Federal Relay Service at (800) 877–
8339.
FOR FURTHER INFORMATION CONTACT:
Anna Guido, Reports Management
Officer, QDAM, Department of Housing
and Urban Development, 451 7th Street
SW., Washington, DC 20410; email
Anna Guido at Anna.P.Guido@hud.gov
or telephone 202–402–5535. This is not
a toll-free number. Persons with hearing
or speech impairments may access this
number through TTY by calling the tollfree Federal Relay Service at (800) 877–
8339.
Copies of available documents
submitted to OMB may be obtained
from Ms. Guido.
SUPPLEMENTARY INFORMATION: The
Department will submit the proposed
information collection to OMB for
review, as required by the Paperwork
Reduction Act of 1995 (44 U.S.C.
chapter 35, as amended). This notice is
soliciting comments from members of
the public and affected agencies
concerning the proposed collection of
information to: (1) Evaluate whether the
proposed collection of information is
Number of
respondents
Instrument
necessary for the proper performance of
the functions of the agency, including if
the information will have practical
utility; (2) Evaluate the accuracy of the
agency’s estimate of the burden of
proposed collection of information; (3)
Enhance the quality, utility, and clarity
of the information to be collected; and
(4) Minimize the burden of the
collection of information on those who
are to respond, including through the
use of appropriate automated collection
techniques or other forms of information
technology, e.g., permitting electronic
submission of responses.
This notice also lists the following
information:
Title of Proposal: License for the Use
of Personally Identifiable Information
Protected Under the Privacy Act of
1974.
Description of the need for
information and proposed use: The
United States Department of Housing
and Urban Department (HUD) has
collected and maintains personally
identifiable information, the
confidentiality of which is protected by
the Privacy Act of 1974 (5 U.S.C. 522A).
HUD wishes to make the data available
for statistical, research, or evaluation
purposes for qualified organizations
capable of research and analysis
consistent with the statistical, research,
or evaluation purposes for which the
data were provided or are maintained,
but only if the data are used and
protected in accordance with the terms
and conditions stated in this license
(License). Upon receipt of such
assurance of qualification and
capability, it is hereby agreed between
HUD and (Name of the organization to
be licensed) that the license be granted.
Estimation of the total number of
hours needed to prepare the information
collection including number of
respondents, frequency of response, and
hours of response:
Total annual
responses
Hours per
response
Total hours
12
0
40
6
12
12
0
40
6
36
1
0
1
.25
0.5
12
0
40
1.5
18
Total ..........................................................................................................
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Applicants ........................................................................................................
Quarterly Reports ............................................................................................
Annual Reports ................................................................................................
Final Reports ...................................................................................................
Recordkeeping .................................................................................................
12
94
2.75
71.5
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E:\FR\FM\27JYN1.SGM
27JYN1
]]>Agencies
[Federal Register Volume 81, Number 144 (Wednesday, July 27, 2016)]
[Notices]
[Pages 49245-49247]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2016-17783]
[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
