Mortgage and Loan Insurance Programs Under the National Housing Act-Debenture Interest Rates, 5339-5340 [2010-2114]

Download as PDF 5339 Federal Register / Vol. 75, No. 21 / Tuesday, February 2, 2010 / Notices approved February 25, 2009). The Section 4 Capacity Building program provides grants to national community development intermediaries to enhance the capacity and ability of community development corporations and community housing development organizations to carry out community development and affordable housing activities that benefit low-income families and persons. Capacity Building funds support activities such as training, education, support, loans, grants, and development assistance. The Fiscal Year 2009 competition was announced on http://www.hud.gov on June 15, 2009. The NOFA provided $34 million for Section 4 Capacity Building grants For the Fiscal Year 2009 competition, HUD awarded three competitive Section 4 Capacity Building grants totaling $34,000,000. In accordance with section 102(a)(4)(C) of the Department of Housing and Urban Development Reform Act of 1989 (103 Stat. 1987, 42 U.S.C. 3545), the Department is publishing the grantees and the amounts of the awards in Appendix A to this document. Dated: December 18, 2009. ´ Mercedes Marquez, Assistant Secretary for Community Planning and Development. Appendix A Fiscal Year 2009 Funding Awards for the Section 4 Capacity Building for Community Development and Affordable Housing Program Recipient State Enterprise Community Partners, Inc ................................................................................................................................. Local Initiatives Support Corporation ................................................................................................................................ Habitat for Humanity International .................................................................................................................................... MD ....... NY ........ GA ........ $14,836,263 14,836,263 4,327,474 Total ........................................................................................................................................................................... .............. 34,000,000 [FR Doc. 2010–2112 Filed 2–1–10; 8:45 am] BILLING CODE 4210–67–P DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT [Docket No. FR-5389–N–01] Mortgage and Loan Insurance Programs Under the National Housing Act—Debenture Interest Rates mstockstill on DSKH9S0YB1PROD with NOTICES 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 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 January 1, 2010, is 33⁄8 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 January 1, 2010, is 41⁄4 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 VerDate Nov<24>2008 16:52 Feb 01, 2010 Jkt 220001 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 Information Relay Service at (800) 877–8339. SUPPLEMENTARY INFORMATION: Section 224 of the National Housing Act (12 U.S.C. 1715o) provides that debentures issued under the Act with respect to an insured loan or mortgage (except for debentures issued pursuant to section 221(g)(4) of the Act) will bear interest at the rate in effect on the date the commitment to insure the loan or mortgage was issued, or the date the loan or mortgage was endorsed (or initially endorsed if there are two or more endorsements) for insurance, whichever rate is higher. This provision is implemented in HUD’s regulations at 24 CFR 203.405, 203.479, 207.259(e)(6), and 220.830. These regulatory provisions state that the applicable rates of interest will be published twice each year as a notice in the Federal Register. Section 224 further provides that the interest rate on these debentures will be set from time to time by the Secretary of HUD, with the approval of the PO 00000 Frm 00061 Fmt 4703 Sfmt 4703 Amount 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 January 1, 2010, is 41⁄4 percent; and (2) has approved the establishment of the debenture interest rate by the Secretary of HUD at 41⁄4 percent for the 6-month period beginning January 1, 2010. 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 first 6 months of 2010. 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 ................. 97⁄8 ................. 113⁄4 ............... 127⁄8 ............... 123⁄4 ............... 101⁄4 ............... 103⁄8 ............... 111⁄2 ............... 133⁄8 ............... 115⁄8 ............... 111⁄8 ............... 101⁄4 ............... 81⁄4 ................. 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, 1987 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 E:\FR\FM\02FEN1.SGM 02FEN1 5340 Federal Register / Vol. 75, No. 21 / Tuesday, February 2, 2010 / Notices Effective interest rate on or after prior to 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 ................. 61⁄2 ................. 6 ..................... 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 ................. Jan. 1, 1987 July 1, 1987 Jan. 1, 1988 July 1, 1989 Jan. 1, 1989 July 1, 1989 Jan. 1, 1990 July 1, 1990 Jan. 1, 1991 July 1, 1992 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, 1997 Jan. 1, 1997 July 1, 1998 Jan. 1, 1998 July 1, 1999 Jan. 1, 1999 July 1, 2000 Jan. 1, 2000 July 1, 2001 Jan. 1, 2001 July 1, 2002 Jan. 1, 2002 July 1, 2003 Jan. 1, 2003 July 1, 2004 Jan. 1, 2004 July 1, 2005 Jan. 1, 2005 July 1, 2006 Jan. 1, 2006 July 1, 2007 Jan. 1, 2007 July 1, 2007 Jan. 1, 2008 July 1, 2009 Jan. 1, 2009 July 1, 2010 Jan. 1, 2010 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 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 Section 215 of Division G, Title II of Public Law 108–199, enacted January 23, 2004 (HUD’s 2004 Appropriations Act) amended section 224 of the Act, to change the debenture interest rate for purposes of calculating certain insurance claim payments made in cash. Therefore, for all claims paid in cash on mortgages insured under section 203 or 234 of the National Housing Act and endorsed for insurance after January 23, 2004, the debenture interest rate will be the monthly average yield, for the month in which the default on the mortgage occurred, on United States Treasury Securities adjusted to a constant maturity of 10 years, as found in Federal Reserve Statistical Release H– 15. The Federal Housing Administration has codified this provision in HUD regulations at 24 CFR 203.405(b) and 24 CFR 203.479(b). Section 221(g)(4) of the Act provides that debentures issued pursuant to that paragraph (with respect to the assignment of an insured mortgage to the Secretary) will bear interest at the ‘‘going Federal rate’’ in effect at the time the debentures are issued. The term ‘‘going Federal rate’’ is defined to mean the interest rate that the Secretary of the Treasury determines, pursuant to a statutory formula based on the average yield on all outstanding marketable Treasury obligations of 8- to 12-year maturities, for the 6-month periods of January through June and July through December of each year. Section 221(g)(4) is implemented in the HUD regulations at 24 CFR 221.255 and 24 CFR 221.790. The Secretary of the Treasury has determined that the interest rate to be borne by debentures issued pursuant to section 221(g)(4) during the 6-month period beginning January 1, 2010, is 33⁄8 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: January 6, 2010. David H. Stevens, Assistant Secretary for Housing–Federal Housing Commissioner. [FR Doc. 2010–2114 Filed 2–1–10; 8:45 am] BILLING CODE 4210–67–P Number of annual respondents mstockstill on DSKH9S0YB1PROD with NOTICES Activity DEPARTMENT OF THE INTERIOR Fish and Wildlife Service [FWS-R9-R-2010-N023; 93261-99CS-00004A] Information Collection Sent to the Office of Management and Budget (OMB) for Approval; Survey of National Wildlife Refuge Visitors AGENCY: Fish and Wildlife Service, Interior. ACTION: Notice; request for comments. 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. 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. DATES: You must send comments on or before March 4, 2010. ADDRESSES: Send your comments and suggestions on this information collection to the Desk Officer for the Department of the Interior at OMB-OIRA at (202) 395-5806 (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) or hope_grey@fws.gov (e-mail). FOR FURTHER INFORMATION CONTACT: To request additional information about this ICR, contact Hope Grey by mail or e-mail (see ADDRESSES) or by telephone at (703) 358–2482. SUPPLEMENTARY INFORMATION: OMB Control Number: 1018-NEW. This is a new collection. Title: Survey of National Wildlife Refuge Visitors. Service Form Number(s): None. Type of Request: New. Affected Public: Visitors to national wildlife refuges. Respondent’s Obligation: Voluntary. Frequency of Collection: One time. Number of annual responses Completion time per response Annual burden hours Initial Contact Onsite ............................................................... Visitor Survey ........................................................................... Nonresponse Bias Check Survey ............................................ 12,500 10,000 750 12,500 10,000 750 2 minutes ......... 25 minutes ....... 5 minutes ......... 417 4,167 63 Totals ................................................................................ 23,250 23,250 ..................... 4,647 VerDate Nov<24>2008 16:52 Feb 01, 2010 Jkt 220001 PO 00000 Frm 00062 Fmt 4703 Sfmt 4703 E:\FR\FM\02FEN1.SGM 02FEN1

Agencies

[Federal Register Volume 75, Number 21 (Tuesday, February 2, 2010)]
[Notices]
[Pages 5339-5340]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2010-2114]


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DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT

[Docket No. FR-5389-N-01]


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 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 
January 1, 2010, is 3\3/8\ 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 January 1, 2010, is 4\1/4\ 
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 Information Relay Service 
at (800) 877-8339.

SUPPLEMENTARY INFORMATION: Section 224 of the National Housing Act (12 
U.S.C. 1715o) provides that debentures issued under the Act with 
respect to an insured loan or mortgage (except for debentures issued 
pursuant to section 221(g)(4) of the Act) will bear interest at the 
rate in effect on the date the commitment to insure the loan or 
mortgage was issued, or the date the loan or mortgage was endorsed (or 
initially endorsed if there are two or more endorsements) for 
insurance, whichever rate is higher. This provision is implemented in 
HUD's regulations at 24 CFR 203.405, 203.479, 207.259(e)(6), and 
220.830. These regulatory provisions state that the applicable rates of 
interest will be published twice each year as a notice in the Federal 
Register.
    Section 224 further provides that the interest rate on these 
debentures will be set from time to time by the Secretary of HUD, with 
the approval of the Secretary of the Treasury, in an amount not in 
excess of the annual interest rate determined by the Secretary of the 
Treasury pursuant to a statutory formula based on the average yield of 
all outstanding marketable Treasury obligations of maturities of 15 or 
more years.
    The Secretary of the Treasury (1) has determined, in accordance 
with the provisions of section 224, that the statutory maximum interest 
rate for the period beginning January 1, 2010, is 4\1/4\ percent; and 
(2) has approved the establishment of the debenture interest rate by 
the Secretary of HUD at 4\1/4\ percent for the 6-month period beginning 
January 1, 2010. 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 first 6 
months of 2010.
    For convenience of reference, HUD is publishing the following chart 
of debenture interest rates applicable to mortgages committed or 
endorsed since January 1, 1980:

------------------------------------------------------------------------
    Effective interest rate          on or after           prior to
------------------------------------------------------------------------
9\1/2\.........................  Jan. 1, 1980         July 1, 1980
9\7/8\.........................  July 1, 1980         Jan. 1, 1981
11\3/4\........................  Jan. 1, 1981         July 1, 1981
12\7/8\........................  July 1, 1981         Jan. 1, 1982
12\3/4\........................  Jan. 1, 1982         Jan. 1, 1983
10\1/4\........................  Jan. 1, 1983         July 1, 1983
10\3/8\........................  July 1, 1983         Jan. 1, 1984
11\1/2\........................  Jan. 1, 1984         July 1, 1984
13\3/8\........................  July 1, 1984         Jan. 1, 1985
11\5/8\........................  Jan. 1, 1985         July 1, 1985
11\1/8\........................  July 1, 1985         Jan. 1, 1986
10\1/4\........................  Jan. 1, 1986         July 1, 1986
8\1/4\.........................  July 1, 1987         Jan. 1, 1987

[[Page 5340]]

 
8..............................  Jan. 1, 1987         July 1, 1987
9..............................  July 1, 1987         Jan. 1, 1988
9\1/8\.........................  Jan. 1, 1988         July 1, 1988
9\3/8\.........................  July 1, 1989         Jan. 1, 1989
9\1/4\.........................  Jan. 1, 1989         July 1, 1989
9..............................  July 1, 1989         Jan. 1, 1990
8\1/8\.........................  Jan. 1, 1990         July 1, 1990
9..............................  July 1, 1990         Jan. 1, 1991
8\3/4\.........................  Jan. 1, 1991         July 1, 1991
8\1/2\.........................  July 1, 1992         Jan. 1, 1992
8..............................  Jan. 1, 1992         July 1, 1992
8..............................  July 1, 1992         Jan. 1, 1993
7\3/4\.........................  Jan. 1, 1993         July 1, 1993
7..............................  July 1, 1993         Jan. 1, 1994
6\5/8\.........................  Jan. 1, 1994         July 1, 1994
7\3/4\.........................  July 1, 1994         Jan. 1, 1995
8\3/8\.........................  Jan. 1, 1995         July 1, 1995
7\1/4\.........................  July 1, 1995         Jan. 1, 1996
6\1/2\.........................  Jan. 1, 1996         July 1, 1996
7\1/4\.........................  July 1, 1997         Jan. 1, 1997
6\3/4\.........................  Jan. 1, 1997         July 1, 1997
7\1/8\.........................  July 1, 1998         Jan. 1, 1998
6\3/8\.........................  Jan. 1, 1998         July 1, 1998
6\1/8\.........................  July 1, 1999         Jan. 1, 1999
5\1/2\.........................  Jan. 1, 1999         July 1, 1999
6\1/8\.........................  July 1, 2000         Jan. 1, 2000
6\1/2\.........................  Jan. 1, 2000         July 1, 2000
6\1/2\.........................  July 1, 2001         Jan. 1, 2001
6..............................  Jan. 1, 2001         July 1, 2001
5\7/8\.........................  July 1, 2002         Jan. 1, 2002
5\1/4\.........................  Jan. 1, 2002         July 1, 2002
5\3/4\.........................  July 1, 2003         Jan. 1, 2003
5..............................  Jan. 1, 2003         July 1, 2003
4\1/2\.........................  July 1, 2004         Jan. 1, 2004
5\1/8\.........................  Jan. 1, 2004         July 1, 2004
5\1/2\.........................  July 1, 2005         Jan. 1, 2005
4\7/8\.........................  Jan. 1, 2005         July 1, 2005
4\1/2 \........................  July 1, 2006         Jan. 1, 2006
4\7/8\.........................  Jan. 1, 2006         July 1, 2006
5\3/8\.........................  July 1, 2007         Jan. 1, 2007
4\3/4\.........................  Jan. 1, 2007         July 1, 2007
5..............................  July 1, 2007         Jan. 1, 2008
4\1/2\.........................  Jan. 1, 2008         July 1, 2008
4\5/8\.........................  July 1, 2009         Jan. 1, 2009
4\1/8\.........................  Jan. 1, 2009         July 1, 2009
4\1/8\.........................  July 1, 2010         Jan. 1, 2010
4\1/4\.........................  Jan. 1, 2010         July 1, 2010
------------------------------------------------------------------------

    Section 215 of Division G, Title II of Public Law 108-199, enacted 
January 23, 2004 (HUD's 2004 Appropriations Act) amended section 224 of 
the Act, to change the debenture interest rate for purposes of 
calculating certain insurance claim payments made in cash. Therefore, 
for all claims paid in cash on mortgages insured under section 203 or 
234 of the National Housing Act and endorsed for insurance after 
January 23, 2004, the debenture interest rate will be the monthly 
average yield, for the month in which the default on the mortgage 
occurred, on United States Treasury Securities adjusted to a constant 
maturity of 10 years, as found in Federal Reserve Statistical Release 
H-15. The Federal Housing Administration has codified this provision in 
HUD regulations at 24 CFR 203.405(b) and 24 CFR 203.479(b).
    Section 221(g)(4) of the Act provides that debentures issued 
pursuant to that paragraph (with respect to the assignment of an 
insured mortgage to the Secretary) will bear interest at the ``going 
Federal rate'' in effect at the time the debentures are issued. The 
term ``going Federal rate'' is defined to mean the interest rate that 
the Secretary of the Treasury determines, pursuant to a statutory 
formula based on the average yield on all outstanding marketable 
Treasury obligations of 8- to 12-year maturities, for the 6-month 
periods of January through June and July through December of each year. 
Section 221(g)(4) is implemented in the HUD regulations at 24 CFR 
221.255 and 24 CFR 221.790.
    The Secretary of the Treasury has determined that the interest rate 
to be borne by debentures issued pursuant to section 221(g)(4) during 
the 6-month period beginning January 1, 2010, is 3\3/8\ 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: January 6, 2010.
David H. Stevens,
Assistant Secretary for Housing-Federal Housing Commissioner.
[FR Doc. 2010-2114 Filed 2-1-10; 8:45 am]
BILLING CODE 4210-67-P