Credit Watch Termination Initiative, 5865-5866 [E8-1700]
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5865
Federal Register / Vol. 73, No. 21 / Thursday, January 31, 2008 / Notices
has been submitted to the Office of
Management and Budget (OMB) for
review, as required by the Paperwork
Reduction Act. The Department is
soliciting public comments on the
subject proposal.
The information is collected from all
localities and states participating in any
one of CPD’s four formula grant
programs to determine each
jurisdiction’s compliance with statutory
and regulatory requirements.
DATES: Comments Due Date: March 3,
2008.
Interested persons are
invited to submit comments regarding
this proposal. Comments should refer to
the proposal by name and/or OMB
approval Number (2506–0117) and
should be sent to: HUD Desk Officer,
Office of Management and Budget, New
Executive Office Building, Washington,
DC 20503; fax: 202–395–6974.
FOR FURTHER INFORMATION CONTACT:
Lillian Deitzer, Reports Management
ADDRESSES:
Officer, QDAM, Department of Housing
and Urban Development, 451 Seventh
Street, SW., Washington, DC 20410;
e-mail Lillian Deitzer at
Lillian_L_Deitzer@HUD.gov or
telephone (202) 708–2374. This is not a
toll-free number. Copies of available
documents submitted to OMB may be
obtained from Ms. Deitzer.
SUPPLEMENTARY INFORMATION: This
notice informs the public that the
Department of Housing and Urban
Development has submitted to OMB a
request for approval of the Information
collection described below. This notice
is soliciting comments from members of
the public and affecting agencies
concerning the proposed collection of
information to: (1) Evaluate whether the
proposed collection of information is
necessary for the proper performance of
the functions of the agency, including
whether the information will have
practical utility; (2) Evaluate the
accuracy of the agency’s estimate of the
burden of the proposed collection of
Number of respondents
Reporting Burden ......................................................................
Dated: January 25, 2008.
Lillian L. Deitzer,
Departmental Paperwork Reduction Act
Officer, Office of the Chief Information
Officer.
[FR Doc. E8–1783 Filed 1–30–08; 8:45 am]
BILLING CODE 4210–67–P
DEPARTMENT OF HOUSING AND
URBAN DEVELOPMENT
[Docket No. FR–5161–N–03]
Credit Watch Termination Initiative
Office of the Assistant
Secretary for Housing—Federal Housing
Commissioner, HUD.
ACTION: Notice.
rwilkins on PROD1PC63 with NOTICES
AGENCY:
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
18:07 Jan 30, 2008
Jkt 214001
1,150
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 HUD published a notice (64 FR
26769), 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
PO 00000
Frm 00077
Fmt 4703
Sfmt 4703
×
Hours per
response
1.91
FOR FURTHER INFORMATION CONTACT:
Authority: Section 3507 of the Paperwork
Reduction Act of 1995, 44 U.S.C. 35, as
amended.
VerDate Aug<31>2005
Annual
responses
×
which have had their Origination
Approval Agreements terminated.
Total Estimated Burden Hours:
563,700.
Status: Extension of a currently
approved collection.
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: Consolidated Plan
and Annual Performance Report for
Grantees.
OMB Approval Number: 2506–0117.
Form Numbers: None.
Description of the Need for the
Information and Its Proposed Use: The
information is collected from all
localities and states participating in any
one of CPD’s four formula grant
programs to determine each
jurisdiction’s compliance with statutory
and regulatory requirements.
Frequency of Submission: Annually.
256
=
Burden hours
563,700.
(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
33rd 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
E:\FR\FM\31JAN1.SGM
31JAN1
5866
Federal Register / Vol. 73, No. 21 / Thursday, January 31, 2008 / Notices
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
Government Accountability 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
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 20024–8000.
Action: The following mortgagees
have had their Agreements terminated
by HUD:
Mortgagee name
Mortgagee branch address
HUD office
jurisdictions
Putnam Mortgage & Finance, LLC .....................
305 1⁄2 South Jefferson Ave, Eatonton, GA
31024.
Atlanta ..........
Dated: December 21, 2007.
Ronald Y. Spraker,
Deputy Assistant Secretary for Finance and
Budget Office of Housing.
[FR Doc. E8–1700 Filed 1–30–08; 8:45 am]
BILLING CODE 4210–67–P
DEPARTMENT OF THE INTERIOR
Fish and Wildlife Service
Information Collection Sent to the
Office of Management and Budget
(OMB) for Approval; OMB Control
Number 1018–0102; Applications for
Special Use Permits on National
Wildlife Refuges Outside Alaska
Fish and Wildlife Service,
Interior.
ACTION: Notice; request for comments.
rwilkins on PROD1PC63 with NOTICES
AGENCY:
SUMMARY: We (Fish and Wildlife
Service) have sent an Information
Collection Request (ICR) to OMB for
review and approval. The ICR, which is
summarized below, describes the nature
of the collection and the estimated
burden and cost. This ICR is scheduled
to expire on January 31, 2008. We may
not conduct or sponsor and a person is
not required to respond to a collection
of information unless it displays a
currently valid OMB control number.
However, under OMB regulations, we
may continue to conduct or sponsor this
VerDate Aug<31>2005
18:07 Jan 30, 2008
Jkt 214001
information collection while it is
pending at OMB.
DATES: You must submit comments on
or before March 3, 2008.
ADDRESSES: Send your comments and
suggestions on this ICR to the Desk
Officer for the Department of the
Interior at OMB-OIRA at (202) 395–6566
(fax) or OIRA_DOCKET@OMB.eop.gov
(e-mail). Please provide a copy of your
comments to Hope Grey, Information
Collection Clearance Officer, Fish and
Wildlife Service, MS 222–ARLSQ, 4401
North Fairfax Drive, Arlington, VA
22203 (mail); (703) 358–2269 (fax); or
hope_grey@fws.gov (e-mail).
FOR FURTHER INFORMATION CONTACT: To
request additional information about
this ICR, contact Hope Grey by mail, fax,
or e-mail (see ADDRESSES) or by
telephone at (703) 358–2482.
SUPPLEMENTARY INFORMATION:
OMB Control Number: 1018–0102.
Title: Applications for Special Use
Permits on National Wildlife Refuges
Outside Alaska, 50 CFR 25.41, 25.61,
26.36, 27.71, 27.91, 27.97, 29.1, 29.2,
30.11, 31.2, 31.13, 31.14, 31.16, and
32.2(1), and 43 CFR 5.
Service Form Number(s): 3–1383.
Type of Request: Revision of existing
collection.
Affected Public: Individuals and
households; business and other forprofit organizations; nonprofit
PO 00000
Frm 00078
Fmt 4703
Sfmt 4703
Termination
effective
date
12/5/2007
Homeownership
centers
Atlanta.
institutions; farms; and State, local, or
tribal governments.
Respondent’s Obligation: Required to
obtain or retain a benefit.
Frequency of Collection: On occasion.
Estimated Annual Number of
Respondents: 14,225.
Estimated Total Annual Responses:
14,225.
Estimated Time Per Response: 1 hour.
Estimated Total Annual Burden
Hours: 14,225.
Abstract: The National Wildlife
Refuge System Administration Act of
1966 (16 U.S.C. 668dd–668ee)
(Administration Act) and the Refuge
Recreation Act of 1962 (16 U.S.C. 460k–
460k–4) (Recreation Act) govern the
administration and uses of national
wildlife refuges and wetland
management districts. The
Administration Act consolidated all of
the different refuge areas into a single
National Wildlife Refuge System
(System). It also authorizes us to permit
public accommodations, including
commercial visitor services, on lands of
the System when we find that the
activity is compatible and appropriate
with the purpose for which the refuge
was established. The Recreation Act
allows the use of refuges for public
recreation when it is not inconsistent or
does not interfere with the primary
purpose(s) of the refuge.
E:\FR\FM\31JAN1.SGM
31JAN1
]]>Agencies
[Federal Register Volume 73, Number 21 (Thursday, January 31, 2008)]
[Notices]
[Pages 5865-5866]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E8-1700]
-----------------------------------------------------------------------
DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT
[Docket No. FR-5161-N-03]
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 HUD
published a notice (64 FR 26769), 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 33rd 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
[[Page 5866]]
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
Government Accountability 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 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 20024-8000.
Action: The following mortgagees have had their Agreements
terminated by HUD:
----------------------------------------------------------------------------------------------------------------
Termination
Mortgagee name Mortgagee branch address HUD office effective Homeownership
jurisdictions date centers
----------------------------------------------------------------------------------------------------------------
Putnam Mortgage & Finance, LLC.. 305 \1/2\ South Atlanta............ 12/5/2007 Atlanta.
Jefferson Ave,
Eatonton, GA 31024.
----------------------------------------------------------------------------------------------------------------
Dated: December 21, 2007.
Ronald Y. Spraker,
Deputy Assistant Secretary for Finance and Budget Office of Housing.
[FR Doc. E8-1700 Filed 1-30-08; 8:45 am]
BILLING CODE 4210-67-P
