Credit Watch Termination Initiative, 63501-63503 [E8-25366]

Download as PDF Federal Register / Vol. 73, No. 207 / Friday, October 24, 2008 / Notices 402–4497 (this is not a toll-free number). DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT 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 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 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: Continuum of Care Homeless Assistance—Technical Submission. Description of the need for the information and proposed use: Information to be used to obtain more detailed technical information not contained in the original Continuum of Care Homeless Assistance Grant Application. Agency form number: HUD–40090– 3a. Members of affected public: Applicants that are successful in the Continuum of Care Homeless Assistance Grant competition. Estimation of the total number of hours needed to prepare the information collection including number of respondents, frequency of response, and hours of response: 500 responses, per annum (500 × 1 form), nine hours to prepare HUD–20090–3a, 4,500 hours total reporting. Status of the proposed information collection: New collection. [Docket No. FR–5188–N–11] SUPPLEMENTARY INFORMATION: jlentini on PROD1PC65 with NOTICES Authority: Section 3506 of the Paperwork Reduction Act of 1995, 44 U.S.C. Chapter 35, as amended. Dated: October 16, 2008. Susan D. Peppler, Assistant Secretary for Community Planning and Development. [FR Doc. E8–25367 Filed 10–23–08; 8:45 am] BILLING CODE 4210–67–P VerDate Aug<31>2005 16:48 Oct 23, 2008 Jkt 217001 Notice of Proposed Information Collection for Public Comment: Continuum of Care Homeless Assistance Application—Continuum of Care Registration Office of the Assistant Secretary for Community Planning and Development, HUD. ACTION: Notice of proposed information collection. AGENCY: SUMMARY: The proposed information collection requirement described below will be 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. DATES: Comments Due Date: December 23, 2008. ADDRESSES: Interested persons are invited to submit comments regarding this proposal. Comments should refer to the proposal by name/or OMB Control number and should be sent to: Lillian L. Deitzer, Departmental Reports Management Officer, QDAM, Department of Housing and Urban Development, 451 7th Street, SW., Room 4178, Washington, DC 20410– 5000; telephone 202.402.8048 (this is not a toll-free number) or e-mail Ms. Deitzer at Lillian.L.Deitzer@hud.gov for a copy of the proposed forms, or other available information. FOR FURTHER INFORMATION CONTACT: Ann Marie Oliva, Office of Special Needs Assistance Programs, CPD, Department of Housing and Urban Development, 451 7th Street, SW., Room 7262, Washington, DC 20410; telephone 202.402.4497 (this is not a toll-free number). 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 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 information; (3) enhance the quality, utility, and clarity of the information to PO 00000 Frm 00077 Fmt 4703 Sfmt 4703 63501 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: Continuum of Care Homeless Assistance Application— Continuum of Care Registration. Description of the need for the information and proposed use: Information to be used in the rating, ranking and selection of proposals submitted to HUD by State and local governments, public housing authorities, and nonprofit organizations for awarded funds under the Continuum of Care Homeless Assistance Competition. Agency form number: HUD–40090–1. Members of affected public: Eligible applicants interested in applying for Continuum of Care Homeless Assistance funds. Estimation of the total number of hours needed to prepare the information collection including number of respondents, frequency of response, and hours of response: 460 responses, per annum (500 x 1 form), .5 hours to prepare HUD–20090–1, 230 hours total reporting. Status of the proposed information collection: New collection. Authority: Section 3506 of the Paperwork Reduction Act of 1995, 44 U.S.C. Chapter 35, as amended. Dated: October 16, 2008. Susan D. Peppler, Assistant Secretary for Community Planning and Development. [FR Doc. E8–25368 Filed 10–23–08; 8:45 am] BILLING CODE 4210–67–P DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT [Docket No. FR–5161–N–05 ] Credit Watch Termination Initiative Office of the Assistant Secretary for Housing—Federal Housing Commissioner, HUD. ACTION: Notice. 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 E:\FR\FM\24OCN1.SGM 24OCN1 63502 Federal Register / Vol. 73, No. 207 / Friday, October 24, 2008 / Notices which have had their Origination Approval Agreements terminated. 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 FOR FURTHER INFORMATION CONTACT: 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 35th 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 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 Termination effective date AAA Worldwide Financial Company ..... 5057 Keller Springs Road, Addison, TX 75001. 1745 North Brown Road, Suite 150, Lawrenceville, GA 30043. 1512 Centerpoint Parkway, Birmingham, AL 35215. 201 Old Country Road, Melville, NY 11747. 732 Behrman Highway, Suite I, Gretna, LA 70056. 6816 East Brown Road, Mesa, AZ 85207. Fort Worth ............ July 1, 2008 .......... Denver. Atlanta .................. July 1, 2008 .......... Atlanta. Birmingham .......... July 1, 2008 .......... Atlanta. New York .............. July 1, 2008 .......... Philadelphia. Atlanta .................. July 1, 2008 .......... Atlanta. San Antonio .......... July 1, 2008 .......... Denver. American Mortgage Services, Inc ........ Community Home Lending, Inc ............ Ideal Mortgage Bankers ....................... Landmark Mortgage Corporation .......... jlentini on PROD1PC65 with NOTICES Southwest Stage Funding LLC ............. VerDate Aug<31>2005 16:48 Oct 23, 2008 Jkt 217001 PO 00000 Frm 00078 Fmt 4703 Sfmt 4703 E:\FR\FM\24OCN1.SGM 24OCN1 Homeownership centers 63503 Federal Register / Vol. 73, No. 207 / Friday, October 24, 2008 / Notices Dated: October 15, 2008. Brian D. Montgomery, Assistant Secretary for Housing—Federal Housing Commissioner. [FR Doc. E8–25366 Filed 10–23–08; 8:45 am] BILLING CODE 4210–67–P DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT [Docket No. FR–5186–N–43] Federal Property Suitable as Facilities To Assist the Homeless Office of the Assistant Secretary for Community Planning and Development, HUD. ACTION: Notice. AGENCY: SUMMARY: This Notice identifies unutilized, underutilized, excess, and surplus Federal property reviewed by HUD for suitability for possible use to assist the homeless. DATES: Effective Date: October 24, 2008. FOR FURTHER INFORMATION CONTACT: Kathy Ezzell, Department of Housing and Urban Development, 451 Seventh Street, SW., Room 7262, Washington, DC 20410; telephone (202) 708–1234; TTY number for the hearing- and speech-impaired (202) 708–2565, (these telephone numbers are not toll-free), or call the toll-free Title V information line at 800–927–7588. SUPPLEMENTARY INFORMATION: In accordance with the December 12, 1988 court order in National Coalition for the Homeless v. Veterans Administration, No. 88–2503–OG (D.D.C.), HUD publishes a Notice, on a weekly basis, identifying unutilized, underutilized, excess and surplus Federal buildings and real property that HUD has reviewed for suitability for use to assist the homeless. Today’s Notice is for the purpose of announcing that no additional properties have been determined suitable or unsuitable this week. Dated: October 16, 2008. Mark R. Johnston, Deputy Assistant Secretary for Special Needs. [FR Doc. E8–25140 Filed 10–23–08; 8:45 am] BILLING CODE 4210–67–P DEPARTMENT OF THE INTERIOR jlentini on PROD1PC65 with NOTICES Bureau of Indian Affairs Indian Gaming AGENCY: Bureau of Indian Affairs, Interior. VerDate Aug<31>2005 16:48 Oct 23, 2008 Jkt 217001 Notice of Approved Tribal— State Gaming Compact Amendment. ACTION: SUMMARY: This notice publishes an approval of the First Amendment to the Tribal-State Compact between the Spokane Tribe and the State of Washington. DATES: Effective Date: October 24, 2008. FOR FURTHER INFORMATION CONTACT: Paula L. Hart, Acting Director, Office of Indian Gaming, Office of the Deputy Assistant Secretary—Policy and Economic Development, Washington, DC 20240, (202) 219–4066. SUPPLEMENTARY INFORMATION: Under Section 11 of the Indian Gaming Regulatory Act of 1988 (IGRA), Public Law 100–497, 25 U.S.C. 2710, the Secretary of the Interior shall publish in the Federal Register notice of approved Tribal-State compacts for the purpose of engaging in Class III gaming activities on Indian lands. This Amendment increases the overall limit of allowable player terminals, incorporates agreements that stall the availability of higher stake table games until April 30, 2010, establishes a leasing arrangement and places a moratorium on amendments relating to TLS player terminals until June 30, 2009. This Amendment is hereby approved. Dated: October 14, 2008. George T. Skibine, Acting Deputy Assistant Secretary for Policy and Economic Development—Indian Affairs. [FR Doc. E8–25349 Filed 10–23–08; 8:45 am] BILLING CODE 4310–4N–P DEPARTMENT OF THE INTERIOR Bureau of Indian Affairs Tribal Consultation on Proposed Special Education Policies and Procedures Bureau of Indian Affairs, Interior. ACTION: Notice of tribal consultation meetings. AGENCY: SUMMARY: The Bureau of Indian Education (BIE), Division of Performance and Accountability (DPA), will conduct tribal consultation meetings to obtain oral and written comments on proposed BIE Special Education Policies and Procedures. The proposed policies and procedures are available at https://www.enan.bia.edu under the ‘‘News and Announcements’’ section of the Web site or by calling the individual in the FOR FURTHER PO 00000 Frm 00079 Fmt 4703 Sfmt 4703 INFORMATION CONTACT section of this notice. The SUPPLEMENTARY INFORMATION section contains the complete schedule for the consultation meetings. Submit written comments on the proposed BIE Special Education Policies and Procedures by December 15, 2008, to the address stated in the ADDRESSES section. DATES: Send or hand-deliver written comments on the proposed BIE Special Education Policies and Procedures to Stan Holder, Chief, Division of Performance and Accountability, 1011 Indian School Road, NW., Suite 332, Albuquerque, New Mexico 87104. Submissions by facsimile should be sent to (505) 563– 5281. ADDRESSES: FOR FURTHER INFORMATION CONTACT: Gloria Yepa, (505) 563–5264. You may obtain a copy of the proposed BIE Special Education Policies and Procedures by contacting Sally Hollow Horn at (505) 563–5276 or by visiting the Web site https://www.enan.bia.edu. SUPPLEMENTARY INFORMATION: Background In order to receive Federal funds (‘‘Part B funds’’) available under the Individuals with Disabilities Education Act of 2004 (IDEA), the BIE must meet eligibility requirements identified in the law. The U.S. Department of Education published final regulations, which became effective on October 13, 2006, implementing Part B of IDEA regarding eligibility for Federal funds. See 71 FR 46540 (August 14, 2006). BIE has drafted the proposed Special Education Policies and Procedures, which revises its 2002 Eligibility Document, to ensure consistency with IDEA and the U.S. Department of Education’s final regulations. All Bureau-funded schools, including grant and contract schools, must comply with the policies and procedures to be eligible to receive Part B funding and ensure that students with disabilities are appropriately served. Purpose of the Consultation The purpose of the consultation is to provide Indian tribes, school boards, parents, Indian organizations, and other interested parties with an opportunity to comment on the BIE’s proposed Special Education Policies and Procedures. The proposed policies and procedures are available by calling the individual in the FOR FURTHER INFORMATION CONTACT section of this notice. E:\FR\FM\24OCN1.SGM 24OCN1

Agencies

[Federal Register Volume 73, Number 207 (Friday, October 24, 2008)]
[Notices]
[Pages 63501-63503]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E8-25366]


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DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT

[Docket No. FR-5161-N-05 ]


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

[[Page 63502]]

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 35th 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 
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 branch         HUD office        Termination       Homeownership
         Mortgagee name                  address           jurisdictions      effective date        centers
----------------------------------------------------------------------------------------------------------------
AAA Worldwide Financial Company  5057 Keller Springs     Fort Worth.......  July 1, 2008.....  Denver.
                                  Road, Addison, TX
                                  75001.
American Mortgage Services, Inc  1745 North Brown Road,  Atlanta..........  July 1, 2008.....  Atlanta.
                                  Suite 150,
                                  Lawrenceville, GA
                                  30043.
Community Home Lending, Inc....  1512 Centerpoint        Birmingham.......  July 1, 2008.....  Atlanta.
                                  Parkway, Birmingham,
                                  AL 35215.
Ideal Mortgage Bankers.........  201 Old Country Road,   New York.........  July 1, 2008.....  Philadelphia.
                                  Melville, NY 11747.
Landmark Mortgage Corporation..  732 Behrman Highway,    Atlanta..........  July 1, 2008.....  Atlanta.
                                  Suite I, Gretna, LA
                                  70056.
Southwest Stage Funding LLC....  6816 East Brown Road,   San Antonio......  July 1, 2008.....  Denver.
                                  Mesa, AZ 85207.
----------------------------------------------------------------------------------------------------------------



[[Page 63503]]

    Dated: October 15, 2008.
Brian D. Montgomery,
Assistant Secretary for Housing--Federal Housing Commissioner.
 [FR Doc. E8-25366 Filed 10-23-08; 8:45 am]
BILLING CODE 4210-67-P
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