Credit Watch Termination Initiative, 100-101 [04-28690]

Download as PDF 100 Federal Register / Vol. 70, No. 1 / Monday, January 3, 2005 / Notices Name of Commitee: Center for Scientific Review Special Emphasis Panel Pharmacogenetics and Bioinformatics. Date: January 3, 2005. Time: 1 p.m. to 5 p.m. Agenda: To review and evaluate grant applications. Place: National Institutes of Health, 6701 Rockledge Drive, Bethesda, MD 20892, (Telephone Conference Call). Contact Person: Barbara Whitmarsh, PHD, Scientific Review Administrator, Center for Scientific Review, National Institutes of Health, 6701 Rockledge Drive, Room 2206, MSC 7890, Bethesda, MD 20892, (301) 435– 4511, whitmarshb@csr.nih.gov. This notice is being published less than 15 days prior to the meeting due to the timing limitations imposed by the review and funding cycle. Name of Commitee: Oncological Sciences Integrated Review Group, Radiation Therapeutics and Biology Study Section. Date: January 28–29, 2005. Time: 8:30 a.m. to 5 p.m. Agenda: To review and evaluate grant applications. Place: Holiday Inn Ventura Beach Resort, 450 East Harbor, Ventura, CA 93001. Contact Person: Bo Hong, PhD, Scientific Review Administrator, Center for Scientific Review, National Institutes of Health, 6701 Rockledge Drive, Room 6194, MSC 7890, Bethesda, MD 20892, (301) 435–5879, hongb@csr.nih.gov. Name of Commitee: Oncological Sciences Integrated Review Group, Cancer Molecular Pathobiology Study Section. Date: January 30–February 1, 2005. Time: 6 a.m. to 5 p.m. Agenda: To review and evaluate grant applications. Place: Hilton Washington Embassy Row, 2015 Massachusetts Ave., NW., Washington, DC 20036. Contact Person: Elaine Sierra-Rivera, PhD, Scientific Review Administrator, Center for Scientific Review, National Institutes of Health, 6701 Rockledge Drive, Room 6184, MSC 7804, Bethesda, MD 20892, (301) 435– 1779, riverase@csr.nih.gov. (Catalogue of Federal Domestic Assistance Program Nos. 93.306, Comparative Medicine; 93.333, Clinical Research; 93.306, 93.333, 93.337, 93.393–93.396, 93.837–93.844, 93.846–93.878, 93.892, 93.893, National Institutes of Health, HHS) Dated: December 27, 2004. LaVerne Y. Stringfield, Director, Office of Federal Advisory Committee Policy. [FR Doc. 04–28714 Filed 12–30–04; 8:45 am] BILLING CODE 4140–01–M DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT [Docket No. FR–4513–N–19] Credit Watch Termination Initiative Office of the Assistant Secretary for Housing—Federal Housing Commissioner, HUD. AGENCY: VerDate jul<14>2003 17:34 Dec 30, 2004 Jkt 205001 ACTION: Notice. SUMMARY: This notice advises of the cause and effect of termination of Origination Approval Agreements taken by HUD’s Federal Housing Administration (FHA) against HUDapproved mortgagees through the FHA Credit Watch Termination Initiative. This notice includes a list of mortgagees which have had their Origination Approval Agreements terminated. FOR FURTHER INFORMATION CONTACT: The Quality Assurance Division, Office of Housing, Department of Housing and Urban Development, 451 Seventh Street, SW., Room B133–P3214, Washington, DC 20410–8000; telephone (202) 708– 2830 (this is not a toll free number). Persons with hearing or speech impairments may access that number through TTY by calling the Federal Information Relay Service at (800) 877– 8339. SUPPLEMENTARY INFORMATION: HUD has the authority to address deficiencies in the performance of lenders’ loans as provided in HUD’s mortgagee approval regulations at 24 CFR 202.3. On May 17, 1999 (64 FR 26769), HUD published a notice on its procedures for terminating Origination Approval Agreements with FHA lenders and placement of FHA lenders on Credit Watch status (an evaluation period). In the May 17, 1999 notice, HUD advised that it would publish in the Federal Register a list of mortgagees, which have had their Origination Approval Agreements terminated. Termination of Origination Approval Agreement: Approval of a mortgagee by HUD/FHA to participate in FHA mortgage insurance programs includes an Origination Approval Agreement (Agreement) between HUD and the mortgagee. Under the Agreement, the mortgagee is authorized to originate single family mortgage loans and submit them to FHA for insurance endorsement. The Agreement may be terminated on the basis of poor performance of FHA-insured mortgage loans originated by the mortgagee. The termination of a mortgagee’s Agreement is separate and apart from any action taken by HUD’s Mortgagee Review Board under HUD’s regulations at 24 CFR part 25. Cause: HUD’s regulations permit HUD to terminate the Agreement with any mortgagee having a default and claim rate for loans endorsed within the preceding 24 months that exceeds 200 percent of the default and claim rate within the geographic area served by a HUD field office, and also exceeds the national default and claim rate. For the 21st review period, HUD is terminating PO 00000 Frm 00031 Fmt 4703 Sfmt 4703 the Agreement of mortgagees whose default and claim rate exceeds both the national rate and 200 percent of the field office rate. Effect: Termination of the Agreement precludes that branch(s) of the mortgagee from originating FHA-insured single family mortgages within the area of the HUD field office(s) listed in this notice. Mortgagees authorized to purchase, hold, or service FHA insured mortgages may continue to do so. Loans that closed or were approved before the termination became effective may be submitted for insurance endorsement. Approved loans are (1) those already underwritten and approved by a Direct Endorsement (DE) underwriter employed by an unconditionally approved DE lender and (2) cases covered by a firm commitment issued by HUD. Cases at earlier stages of processing cannot be submitted for insurance by the terminated branch; however, they may be transferred for completion of processing and underwriting to another mortgagee or branch authorized to originate FHA insured mortgages in that area. Mortgagees are obligated to continue to pay existing insurance premiums and meet all other obligations associated with insured mortgages. A terminated mortgagee may apply for a new Origination Approval Agreement if the mortgagee continues to be an approved mortgagee meeting the requirements of 24 CFR 202.5, 202.6, 202.7, 202.8 or 202.10 and 202.12, if there has been no Origination Approval Agreement for at least six months, and if the Secretary determines that the underlying causes for termination have been remedied. To enable the Secretary to ascertain whether the underlying causes for termination have been remedied, a mortgagee applying for a new Origination Approval Agreement must obtain an independent review of the terminated office’s operations as well as its mortgage production, specifically including the FHA-insured mortgages cited in its termination notice. This independent analysis shall identify the underlying cause for the mortgagee’s high default and claim rate. The review must be conducted and issued by an independent Certified Public Accountant (CPA) qualified to perform audits under Government Auditing Standards as provided by the General Accounting Office. The mortgagee must also submit a written corrective action plan to address each of the issues identified in the CPA’s report, along with evidence that the plan has been implemented. The application for a new Agreement should be in the form of a letter, accompanied by the CPA’s E:\FR\FM\03JAN1.SGM 03JAN1 101 Federal Register / Vol. 70, No. 1 / Monday, January 3, 2005 / Notices report and corrective action plan. The request should be sent to the Director, Office of Lender Activities and Program Compliance, 451 Seventh Street, SW., Room B133–P3214, Washington, DC 20410–8000 or by courier to 490 L’Enfant Plaza, East, SW., Suite 3214, Washington, DC 20024. Action: The following mortgagees have had their Agreements terminated by HUD: Mortgagee name Mortgagee branch address HUD office jurisdictions Termination effective date Home ownership centers American Southwest Mortgage Funding Inc. Atlantic Coast Mortgage Services .... 1240 Pennsylvania NE Ste E, Albuquerque, NM 87110. 1009 S Main Street, Pleasantville, NJ 08232. 1201 S Alma School Rd # 3700, Mesa, AZ 85210. 1712 N Meridian St Ste 200, Indianapolis, IN 46202. 2350 Airport Freeway Ste 505, Bedford, TX 76022. 3048 N. Grand Blvd., Oklahoma City, OK 73107. 5795 Widewaters Pkwy, Syracuse, NY 13214. 2880 South Main Street Ste 117, Salt Lake City, UT 84115. 6836 Austin Center Blvd #100, Austin, TX 78731. 19 Briar Hollow Lane #230, Houston, TX 77027. Albuquerque, NM ............. 11/17/2004 .......... Denver. Camden, NJ ..................... 11/17/2004 .......... Philadelphia. Phoenix, AZ ..................... 11/17/2004 .......... Santa Ana. Indianapolis, IN ................ 11/17/2004 .......... Atlanta. Dallas, TX ........................ 11/17/2004 .......... Denver. Oklahoma City, OK .......... 11/17/2004 .......... Denver. Buffalo, NY ....................... 11/17/2004 .......... Philadelphia. Salt Lake City, UT ............ 10/24/2004 .......... Denver. San Antonio, TX ............... 10/24/2004 .......... Denver. Houston, TX ..................... 11/17/2004 .......... Denver. Axis Mortgage & Investments LLC .. Custom Mortgage, Inc ...................... Great Oak Mortgage Company ........ Harry Mortgage Company ................ Homestead Financial Services Inc .. Quality Financial Services LC .......... SD Mortgage Services LTD ............. Texas American Mortgage Inc ......... Dated: December 23, 2004. Sean Cassidy, General Deputy Assistant Secretary for Housing. [FR Doc. 04–28690 Filed 12–30–04; 8:45 am] BILLING CODE 4210–27–P DEPARTMENT OF THE INTERIOR Fish and Wildlife Service Information Collection Renewal To Be Submitted to the Office of Management and Budget (OMB) for Approval Under the Paperwork Reduction Act; Monitoring Recovered Species After Delisting as Required Under Section 4(g) of the Endangered Species Act— American Peregrine Falcon; 1018–0101 Fish and Wildlife Service, Interior. ACTION: Notice; request for comments. AGENCY: SUMMARY: The Fish and Wildlife Service (We) plan to submit to OMB a request to renew the collection of information described below. The Endangered Species Act requires that all species that are recovered and removed from the List of Endangered and Threatened Wildlife (delisted) be monitored. We will use the information that we collect under OMB Control No. 1018–0101 to determine if the American peregrine falcon remains recovered. DATES: You must submit comments on or before March 4, 2005. ADDRESSES: Send your comments on the information collection requirement via VerDate jul<14>2003 14:47 Dec 30, 2004 Jkt 205001 mail to Hope Grey, Information Collection Clearance Officer, Fish and Wildlife Service, 4401 North Fairfax Drive, Mail Stop 222–ARLSQ, Arlington, Virginia 22203; hope_grey@fws.gov (e-mail); or (703) 358–2269 (fax). FOR FURTHER INFORMATION CONTACT: To request a copy of the proposed information collection requirement, related forms, or explanatory material, contact Hope Grey, Information Collection Clearance Officer, at the above addresses or by telephone at (703) 358–2482. SUPPLEMENTARY INFORMATION: OMB regulations at 5 CFR part 1320, which implement provisions of the Paperwork Reduction Act of 1995 (44 U.S.C. 3501 et seq.), require that interested members of the public and affected agencies have an opportunity to comment on information collection and recordkeeping activities (see 5 CFR 1320.8(d)). We plan to submit a request to OMB to renew its approval of the collection of information included in the Monitoring Plan for the American Peregrine Falcon, a Species Recovered Under the Endangered Species Act (Monitoring Plan) (USFWS 2003). The Monitoring Plan is available on our Web site at https://endangered.fws.gov/ recovery/peregrine/plan2003.pdf. The existing OMB approval for information collection under the Monitoring Plan expires on March 31, 2005. We are requesting a 3-year term of approval for this information collection. Federal agencies may not conduct or sponsor, PO 00000 Frm 00032 Fmt 4703 Sfmt 4703 and a person is not required to respond to, a collection of information unless it displays a currently valid OMB control number. The OMB control number for this collection of information is 1018– 0101. The American peregrine falcon was removed from the List of Endangered and Threatened Wildlife on August 25, 1999. Section 4(g) of the Endangered Species Act (ESA) requires that all species that are recovered and removed from the List of Endangered and Threatened Wildlife (delisted) be monitored in cooperation with the States for a period of not less than 5 years. The purpose of this requirement is to detect any failure of a recovered species to sustain itself without the protections of the ESA. We work with relevant State agencies and other species experts to develop appropriate plans and procedures for systematically monitoring recovered wildlife and plants. The information supplied on the forms will be used to review the status of the American peregrine falcon in the United States and allow us to determine if it remains recovered and, therefore, does not require the protections of the ESA. The obligation to provide the information is voluntary. The American peregrine falcon has a large geographic distribution that includes a substantial amount of nonFederal land. Although the ESA requires that monitoring of recovered species be conducted for not less than 5 years, the life history of American peregrine falcons is such that it is appropriate to E:\FR\FM\03JAN1.SGM 03JAN1

Agencies

[Federal Register Volume 70, Number 1 (Monday, January 3, 2005)]
[Notices]
[Pages 100-101]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 04-28690]


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DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT

[Docket No. FR-4513-N-19]


Credit Watch Termination Initiative

AGENCY: Office of the Assistant Secretary for Housing--Federal Housing 
Commissioner, HUD.

ACTION: Notice.

-----------------------------------------------------------------------

SUMMARY: This notice advises of the cause and effect of termination of 
Origination Approval Agreements taken by HUD's Federal Housing 
Administration (FHA) against HUD-approved mortgagees through the FHA 
Credit Watch Termination Initiative. This notice includes a list of 
mortgagees which have had their Origination Approval Agreements 
terminated.

FOR FURTHER INFORMATION CONTACT: The Quality Assurance Division, Office 
of Housing, Department of Housing and Urban Development, 451 Seventh 
Street, SW., Room B133-P3214, Washington, DC 20410-8000; telephone 
(202) 708-2830 (this is not a toll free number). Persons with hearing 
or speech impairments may access that number through TTY by calling the 
Federal Information Relay Service at (800) 877-8339.

SUPPLEMENTARY INFORMATION: HUD has the authority to address 
deficiencies in the performance of lenders' loans as provided in HUD's 
mortgagee approval regulations at 24 CFR 202.3. On May 17, 1999 (64 FR 
26769), HUD published a notice on its procedures for terminating 
Origination Approval Agreements with FHA lenders and placement of FHA 
lenders on Credit Watch status (an evaluation period). In the May 17, 
1999 notice, HUD advised that it would publish in the Federal Register 
a list of mortgagees, which have had their Origination Approval 
Agreements terminated.
    Termination of Origination Approval Agreement: Approval of a 
mortgagee by HUD/FHA to participate in FHA mortgage insurance programs 
includes an Origination Approval Agreement (Agreement) between HUD and 
the mortgagee. Under the Agreement, the mortgagee is authorized to 
originate single family mortgage loans and submit them to FHA for 
insurance endorsement. The Agreement may be terminated on the basis of 
poor performance of FHA-insured mortgage loans originated by the 
mortgagee. The termination of a mortgagee's Agreement is separate and 
apart from any action taken by HUD's Mortgagee Review Board under HUD's 
regulations at 24 CFR part 25.
    Cause: HUD's regulations permit HUD to terminate the Agreement with 
any mortgagee having a default and claim rate for loans endorsed within 
the preceding 24 months that exceeds 200 percent of the default and 
claim rate within the geographic area served by a HUD field office, and 
also exceeds the national default and claim rate. For the 21st review 
period, HUD is terminating the Agreement of mortgagees whose default 
and claim rate exceeds both the national rate and 200 percent of the 
field office rate.
    Effect: Termination of the Agreement precludes that branch(s) of 
the mortgagee from originating FHA-insured single family mortgages 
within the area of the HUD field office(s) listed in this notice. 
Mortgagees authorized to purchase, hold, or service FHA insured 
mortgages may continue to do so.
    Loans that closed or were approved before the termination became 
effective may be submitted for insurance endorsement. Approved loans 
are (1) those already underwritten and approved by a Direct Endorsement 
(DE) underwriter employed by an unconditionally approved DE lender and 
(2) cases covered by a firm commitment issued by HUD. Cases at earlier 
stages of processing cannot be submitted for insurance by the 
terminated branch; however, they may be transferred for completion of 
processing and underwriting to another mortgagee or branch authorized 
to originate FHA insured mortgages in that area. Mortgagees are 
obligated to continue to pay existing insurance premiums and meet all 
other obligations associated with insured mortgages.
    A terminated mortgagee may apply for a new Origination Approval 
Agreement if the mortgagee continues to be an approved mortgagee 
meeting the requirements of 24 CFR 202.5, 202.6, 202.7, 202.8 or 202.10 
and 202.12, if there has been no Origination Approval Agreement for at 
least six months, and if the Secretary determines that the underlying 
causes for termination have been remedied. To enable the Secretary to 
ascertain whether the underlying causes for termination have been 
remedied, a mortgagee applying for a new Origination Approval Agreement 
must obtain an independent review of the terminated office's operations 
as well as its mortgage production, specifically including the FHA-
insured mortgages cited in its termination notice. This independent 
analysis shall identify the underlying cause for the mortgagee's high 
default and claim rate. The review must be conducted and issued by an 
independent Certified Public Accountant (CPA) qualified to perform 
audits under Government Auditing Standards as provided by the General 
Accounting Office. The mortgagee must also submit a written corrective 
action plan to address each of the issues identified in the CPA's 
report, along with evidence that the plan has been implemented. The 
application for a new Agreement should be in the form of a letter, 
accompanied by the CPA's

[[Page 101]]

report and corrective action plan. The request should be sent to the 
Director, Office of Lender Activities and Program Compliance, 451 
Seventh Street, SW., Room B133-P3214, Washington, DC 20410-8000 or by 
courier to 490 L'Enfant Plaza, East, SW., Suite 3214, Washington, DC 
20024.
    Action: The following mortgagees have had their Agreements 
terminated by HUD:

--------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                                                      Termination effective
          Mortgagee name            Mortgagee branch address        HUD office jurisdictions                   date              Home ownership centers
--------------------------------------------------------------------------------------------------------------------------------------------------------
American Southwest Mortgage        1240 Pennsylvania NE Ste   Albuquerque, NM.....................  11/17/2004...............  Denver.
 Funding Inc.                       E, Albuquerque, NM 87110.
Atlantic Coast Mortgage Services.  1009 S Main Street,        Camden, NJ..........................  11/17/2004...............  Philadelphia.
                                    Pleasantville, NJ 08232.
Axis Mortgage & Investments LLC..  1201 S Alma School Rd      Phoenix, AZ.........................  11/17/2004...............  Santa Ana.
                                     3700, Mesa, AZ
                                    85210.
Custom Mortgage, Inc.............  1712 N Meridian St Ste     Indianapolis, IN....................  11/17/2004...............  Atlanta.
                                    200, Indianapolis, IN
                                    46202.
Great Oak Mortgage Company.......  2350 Airport Freeway Ste   Dallas, TX..........................  11/17/2004...............  Denver.
                                    505, Bedford, TX 76022.
Harry Mortgage Company...........  3048 N. Grand Blvd.,       Oklahoma City, OK...................  11/17/2004...............  Denver.
                                    Oklahoma City, OK 73107.
Homestead Financial Services Inc.  5795 Widewaters Pkwy,      Buffalo, NY.........................  11/17/2004...............  Philadelphia.
                                    Syracuse, NY 13214.
Quality Financial Services LC....  2880 South Main Street     Salt Lake City, UT..................  10/24/2004...............  Denver.
                                    Ste 117, Salt Lake City,
                                    UT 84115.
SD Mortgage Services LTD.........  6836 Austin Center Blvd    San Antonio, TX.....................  10/24/2004...............  Denver.
                                    100, Austin, TX
                                    78731.
Texas American Mortgage Inc......  19 Briar Hollow Lane       Houston, TX.........................  11/17/2004...............  Denver.
                                    230, Houston,
                                    TX 77027.
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    Dated: December 23, 2004.
Sean Cassidy,
General Deputy Assistant Secretary for Housing.
[FR Doc. 04-28690 Filed 12-30-04; 8:45 am]
BILLING CODE 4210-27-P
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