Mortgage and Loan Insurance Programs Under the National Housing Act-Debenture Interest Rates, 3851-3853 [2014-01329]
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3851
Federal Register / Vol. 79, No. 15 / Thursday, January 23, 2014 / Notices
whether the information will have
practical utility; (2) The accuracy of the
agency’s estimate of the burden of the
proposed collection of information; (3)
Ways to enhance the quality, utility, and
clarity of the information to be
collected; and (4) Ways to 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. HUD encourages interested
parties to submit comment in response
to these questions.
Authority: Section 3507 of the Paperwork
Reduction Act of 1995, 44 U.S.C. Chapters
35.
Dated: January 16, 2014.
Colette Pollard,
Department Reports Management Officer,
Office of the Chief Information Officer.
[FR Doc. 2014–01321 Filed 1–22–14; 8:45 am]
BILLING CODE 4210–67–P
DEPARTMENT OF HOUSING AND
URBAN DEVELOPMENT
[Docket No. FR–5752–N–03]
30-Day Notice of Proposed Information
Collection: Historically Black Colleges
and Universities Program
Office of the Chief Information
Officer, HUD.
AGENCY:
ACTION:
Notice.
HUD has submitted the
proposed information collection
requirement described below to the
Office of Management and Budget
(OMB) for review, in accordance with
the Paperwork Reduction Act. The
purpose of this notice is to allow for an
additional 30 days of public comment.
DATES: Comments Due Date: February
24, 2014.
ADDRESSES: Interested persons are
invited to submit comments regarding
this proposal. Comments should refer to
the proposal by name and/or OMB
Control Number and should be sent to:
HUD Desk Officer, Office of
Management and Budget, New
Executive Office Building, Washington,
DC 20503; fax: 202–395–5806. Email:
OIRA_Submission@omb.eop.gov.
FOR FURTHER INFORMATION CONTACT:
Colette Pollard, Reports Management
Officer, QDAM, Department of Housing
and Urban Development, 451 7th Street
SW., Washington, DC 20410; email
Colette Pollard at Colette.Pollard@
hud.gov or telephone 202–402–3400.
Persons with hearing or speech
impairments may access this number
through TTY by calling the toll-free
Federal Relay Service at (800) 877–8339.
This is not a toll-free number. Copies of
available documents submitted to OMB
may be obtained from Ms. Pollard.
SUPPLEMENTARY INFORMATION: This
notice informs the public that HUD has
SUMMARY:
Number of
respondents
submitted to OMB a request for
approval of the information collection
described in Section A. The Federal
Register notice that solicited public
comment on the information collection
for a period of 60 days was published
on October 23, 2013.
A. Overview of Information Collection
Title of Information Collection:
Historically Black Colleges and
Universities Program.
OMB Approval Number: 2528–0235.
Type of Request: Reinstatement
without change of a previously
approved collection.
Form Number: SF–425 and HUD–
40077.
Description of the need for the
information and proposed use: The
information is being collected to
monitor performance of grantees to
ensure they meet statutory and program
goals and requirements.
Respondents (i.e. affected public):
Historically Black Colleges and
Universities (HBCU).
Estimation of the total number of
hours needed to prepare the information
collection including number of
respondents, frequency of response, and
hours of response: Information pursuant
to grant award will be submitted once
a year. The following chart details the
respondent burden on a quarterly, semiannual and annual basis:
Total annual
responses
Hours per
response
Total hours
Quarterly Report ..............................................................................................
Final Reports ...................................................................................................
Recordkeeping .................................................................................................
27
8
27
108
8
27
8
12
10
864
96
270
Total ..........................................................................................................
62
143
30
1,230
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B. Solicitation of Public Comment
This notice is soliciting comments
from members of the public and affected
parties concerning the collection of
information described in Section A on
the following: (1) 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) The accuracy of the
agency’s estimate of the burden of the
proposed collection of information; (3)
Ways to enhance the quality, utility, and
clarity of the information to be
collected; and (4) Ways to minimize the
burden of the collection of information
on those who are to respond; including
through the use of appropriate
VerDate Mar<15>2010
21:50 Jan 22, 2014
Jkt 232001
automated collection techniques or
other forms of information technology,
e.g., permitting electronic submission of
responses. HUD encourages interested
parties to submit comment in response
to these questions.
Authority: Section 3507 of the Paperwork
Reduction Act of 1995, 44 U.S.C. Chapters
35.
Dated: January 16, 2014.
Colette Pollard,
Department Reports Management Officer,
Office of the Chief Information Officer.
[FR Doc. 2014–01359 Filed 1–22–14; 8:45 am]
BILLING CODE 4210–67–P
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DEPARTMENT OF HOUSING AND
URBAN DEVELOPMENT
[Docket No. FR–5766–N–01]
Mortgage and Loan Insurance
Programs Under the National Housing
Act—Debenture Interest Rates
Office of the Assistant
Secretary for Housing—Federal Housing
Commissioner, HUD.
ACTION: Notice.
AGENCY:
This notice announces
changes in the interest rates to be paid
on debentures issued with respect to a
loan or mortgage insured by the Federal
Housing Administration under the
provisions of the National Housing Act
(the Act). The interest rate for
SUMMARY:
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23JAN1
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3852
Federal Register / Vol. 79, No. 15 / Thursday, January 23, 2014 / Notices
debentures issued under section
221(g)(4) of the Act during the 6-month
period beginning January 1, 2014, is 2
1⁄2 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, 2014, is 3 5⁄8 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
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21:50 Jan 22, 2014
Jkt 232001
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, 2014, is 3
5⁄8 percent; and (2) has approved the
establishment of the debenture interest
rate by the Secretary of HUD at 3 5⁄8
percent for the 6-month period
beginning January 1, 2014. 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 2014.
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
9 1/2 ..........
9 7/8 ..........
11 3/4 ........
12 7/8 ........
12 3/4 ........
10 1/4 ........
10 3/8 ........
11 1/2 ........
13 3/8 ........
11 5/8 ........
11 1/8 ........
10 1/4 ........
8 1/4 ..........
8 ................
9 ................
9 1/8 ..........
9 3/8 ..........
9 1/4 ..........
9 ................
8 1/8 ..........
9 ................
8 3/4 ..........
8 1/2 ..........
8 ................
8 ................
7 3/4 ..........
7 ................
6 5/8 ..........
7 3/4 ..........
8 3/8 ..........
7 1/4 ..........
6 1/2 ..........
7 1/4 ..........
6 3/4 ..........
7 1/8 ..........
6 3/8 ..........
6 1/8 ..........
5 1/2 ..........
6 1/8 ..........
6 1/2 ..........
6 1/2 ..........
6 ................
Jan. 1, 1980
July 1, 1980
Jan. 1, 1981
July 1, 1981
Jan. 1, 1982
Jan. 1, 1983
July 1, 1983
Jan. 1, 1984
July 1, 1984
Jan. 1, 1985
July 1, 1985
Jan. 1, 1986
July 1, 1986
Jan. 1, 1987
July 1, 1987
Jan. 1, 1988
July 1, 1988
Jan. 1, 1989
July 1, 1989
Jan. 1, 1990
July 1, 1990
Jan. 1, 1991
July 1, 1991
Jan. 1, 1992
July 1, 1992
Jan. 1, 1993
July 1, 1993
Jan. 1, 1994
July 1, 1994
Jan. 1, 1995
July 1, 1995
Jan. 1, 1996
July 1, 1996
Jan. 1, 1997
July 1, 1997
Jan. 1, 1998
July 1, 1998
Jan. 1, 1999
July 1, 1999
Jan. 1, 2000
July 1, 2000
Jan. 1, 2001
PO 00000
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Prior to
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July 1, 1980.
Jan. 1, 1981.
July 1, 1981.
Jan. 1, 1982.
Jan. 1, 1983.
July 1, 1983.
Jan. 1, 1984.
July 1, 1984.
Jan. 1, 1985.
July 1, 1985.
Jan. 1, 1986.
July 1, 1986.
Jan. 1. 1987.
July 1, 1987.
Jan. 1, 1988.
July 1, 1988.
Jan. 1, 1989.
July 1, 1989.
Jan. 1, 1990.
July 1, 1990.
Jan. 1, 1991.
July 1, 1991.
Jan. 1, 1992.
July 1, 1992.
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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.
Sfmt 4703
Effective interest rate
5
5
5
5
4
5
5
4
4
4
5
4
5
4
4
4
4
4
4
3
4
2
2
2
2
3
7/8 ..........
1/4 ..........
3/4 ..........
................
1/2 ..........
1/8 ..........
1/2 ..........
7/8 ..........
1/2 ..........
7/8 ..........
3/8 ..........
3/4 ..........
................
1/2 ..........
5/8 ..........
1/8 ..........
1/8 ..........
1/4 ..........
1/8 ..........
7/8 ..........
1/8 ..........
7/8 ..........
3/4 ..........
1/2 ..........
7/8 ..........
5/8 ..........
On or after
July 1, 2001
Jan. 1, 2002
July 1, 2002
Jan. 1, 2003
July 1, 2003
Jan. 1, 2004
July 1, 2004
Jan. 1, 2005
July 1, 2005
Jan. 1, 2006
July 1, 2006
Jan. 1, 2007
July 1, 2007
Jan. 1, 2008
July 1, 2008
Jan. 1, 2009
July 1, 2009
Jan. 1, 2010
July 1, 2010
Jan. 1, 2011
July 1, 2011
Jan. 1, 2012
July 1, 2012
Jan. 1, 2013
July 1, 2013
Jan. 1, 2014
Prior to
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Jan. 1, 2002.
July 1, 2002.
Jan. 1, 2003.
July 1, 2003.
Jan. 1, 2004.
July 1, 2004.
Jan. 1, 2005.
July 1, 2005.
Jan. 1, 2006.
July 1, 2006.
Jan. 1, 2007.
July 1, 2007.
Jan. 1, 2008.
July 1, 2008.
Jan. 1, 2009.
July 1, 2009.
Jan. 1, 2010.
July 1, 2010.
Jan. 1, 2011.
July 1, 2011.
Jan. 1, 2012.
July 1, 2012.
Jan. 1, 2013.
July 1, 2013.
Jan. 1, 2014.
July 1, 2014.
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
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23JAN1
Federal Register / Vol. 79, No. 15 / Thursday, January 23, 2014 / Notices
borne by debentures issued pursuant to
section 221(g)(4) during the 6-month
period beginning January 1, 2014, is 2
1/2 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 10, 2014.
Carol J. Galante,
Assistant Secretary for Housing–Federal
Housing Commissioner.
[FR Doc. 2014–01329 Filed 1–22–14; 8:45 am]
BILLING CODE 4210–67–P
DEPARTMENT OF THE INTERIOR
Fish and Wildlife Service
[FWS–R1–ES–2013–N298;
FXES11130100000–145–FF01E00000]
Endangered and Threatened Wildlife
and Plants; Recovery Permit
Application
Fish and Wildlife Service,
Interior.
ACTION: Notice of availability; request
for comments.
AGENCY:
We, the U.S. Fish and
Wildlife Service, invite the public to
comment on the following application
for a recovery permit to conduct
activities with the purpose of enhancing
the survival of an endangered species.
The Endangered Species Act of 1973, as
amended (Act), prohibits certain
activities with endangered species
unless a Federal permit allows such
activity. The Act also requires that we
invite public comment before issuing
such permits.
DATES: To ensure consideration, please
send your written comments by
February 24, 2014.
ADDRESSES: Program Manager for
Restoration and Endangered Species
Classification, Ecological Services, U.S.
Fish and Wildlife Service, Pacific
Regional Office, 911 NE 11th Avenue,
Portland, OR 97232–4181. Please refer
to the permit number for the application
when submitting comments.
FOR FURTHER INFORMATION CONTACT:
Colleen Henson, Fish and Wildlife
Biologist, at the above address or by
telephone (503–231–6131) or fax (503–
231–6243).
SUPPLEMENTARY INFORMATION:
sroberts on DSK5SPTVN1PROD with NOTICES
SUMMARY:
VerDate Mar<15>2010
21:50 Jan 22, 2014
Jkt 232001
Background
The Act (16 U.S.C. 1531 et seq.)
prohibits certain activities with respect
to endangered and threatened species
unless a Federal permit allows such
activity. Along with our implementing
regulations in the Code of Federal
Regulations (CFR) at 50 CFR part 17, the
Act provides for certain permits, and
requires that we invite public comment
before issuing these permits for
endangered species.
A permit granted by us under section
10(a)(1)(A) of the Act authorizes the
permittee to conduct activities
(including take or interstate commerce)
with respect to U.S. endangered or
threatened species for scientific
purposes or enhancement of
propagation or survival. Our regulations
implementing section 10(a)(1)(A) of the
Act for these permits are found at 50
CFR 17.22 for endangered wildlife
species, 50 CFR 17.32 for threatened
wildlife species, 50 CFR 17.62 for
endangered plant species, and 50 CFR
17.72 for threatened plant species.
Application Available for Review and
Comment
We invite local, State, and Federal
agencies, and the public to comment on
the following application. Please refer to
the appropriate permit number for the
application when submitting comments.
Documents and other information
submitted with this application are
available for review by request from the
Program Manager for Restoration and
Endangered Species Classification at the
address listed in the ADDRESSES section
of this notice, subject to the
requirements of the Privacy Act (5
U.S.C. 552a) and the Freedom of
Information Act (5 U.S.C. 552).
Permit Number: TE–24048B
Applicant: Power Engineers,
Incorporated, Meridian, Idaho.
The applicant requests a new recovery
permit to take (survey) the Snake River
physa (Physa natricina) in Idaho for the
purpose of scientific research and
enhancing the species’ survival.
Public Availability of Comments
All comments and materials we
receive in response to this request will
be available for public inspection, by
appointment, during normal business
hours at the address listed in the
ADDRESSES section of this notice.
Before including your address, phone
number, email address, or other
personal identifying information in your
comment, you should be aware that
your entire comment—including your
personal identifying information—may
be made publicly available at any time.
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3853
While you can ask us in your comment
to withhold your personal identifying
information from public review, we
cannot guarantee that we will be able to
do so.
Authority
We provide this notice under section
10 of the Act (16 U.S.C. 1531 et seq.).
Dated: January 9, 2014.
Richard Hannan,
Acting Regional Director, Pacific Region, U.S.
Fish and Wildlife Service.
[FR Doc. 2014–00836 Filed 1–22–14; 8:45 am]
BILLING CODE 4310–55–P
DEPARTMENT OF THE INTERIOR
Fish and Wildlife Service
[FWS–R3–ES–2014–N002;
FXES11130300000F3–145–FF03E00000]
Endangered and Threatened Wildlife
and Plants; Permit Applications
Fish and Wildlife Service,
Interior.
ACTION: Notice of availability of permit
applications; request for comments.
AGENCY:
We, the U.S. Fish and
Wildlife Service (USFWS), invite the
public to comment on the following
applications to conduct certain
activities with endangered species. With
some exceptions, the Endangered
Species Act (Act) prohibits activities
with endangered and threatened species
unless a Federal permit allows such
activity. The Act requires that we invite
public comment before issuing these
permits.
DATES: We must receive any written
comments on or before February 24,
2014.
ADDRESSES: Send written comments by
U.S. mail to the Regional Director, Attn:
Karl Tinsley, U.S. Fish and Wildlife
Service, Ecological Services, 5600
American Blvd. West, Suite 990,
Bloomington, MN 55437–1458; or by
electronic mail to permitsR3ES@fws.gov.
FOR FURTHER INFORMATION CONTACT: Karl
Tinsley, (612) 713–5330.
SUPPLEMENTARY INFORMATION:
SUMMARY:
Background
We invite public comment on the
following permit applications for certain
activities with endangered species
authorized by section 10(a)(1)(A) of the
Act (16 U.S.C. 1531 et seq.) and our
regulations governing the taking of
endangered species in the Code of
Federal Regulations (CFR) at 50 CFR
part 17. Submit your written data,
comments, or request for a copy of the
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23JAN1
]]>Agencies
[Federal Register Volume 79, Number 15 (Thursday, January 23, 2014)]
[Notices]
[Pages 3851-3853]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2014-01329]
-----------------------------------------------------------------------
DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT
[Docket No. FR-5766-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
[[Page 3852]]
debentures issued under section 221(g)(4) of the Act during the 6-month
period beginning January 1, 2014, is 2 \1/2\ 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,
2014, is 3 \5/8\ 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, 2014, is 3 \5/8\ percent; and
(2) has approved the establishment of the debenture interest rate by
the Secretary of HUD at 3 \5/8\ percent for the 6-month period
beginning January 1, 2014. 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 2014.
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, 1986...... Jan. 1. 1987.
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, 1988...... 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, 1991...... 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, 1996...... Jan. 1, 1997.
6 3/4........................... Jan. 1, 1997...... July 1, 1997.
7 1/8........................... July 1, 1997...... Jan. 1, 1998.
6 3/8........................... Jan. 1, 1998...... July 1, 1998.
6 1/8........................... July 1, 1998...... Jan. 1, 1999.
5 1/2........................... Jan. 1, 1999...... July 1, 1999.
6 1/8........................... July 1, 1999...... Jan. 1, 2000.
6 1/2........................... Jan. 1, 2000...... July 1, 2000.
6 1/2........................... July 1, 2000...... Jan. 1, 2001.
6............................... Jan. 1, 2001...... July 1, 2001.
5 7/8........................... July 1, 2001...... Jan. 1, 2002.
5 1/4........................... Jan. 1, 2002...... July 1, 2002.
5 3/4........................... July 1, 2002...... Jan. 1, 2003.
5............................... Jan. 1, 2003...... July 1, 2003.
4 1/2........................... July 1, 2003...... Jan. 1, 2004.
5 1/8........................... Jan. 1, 2004...... July 1, 2004.
5 1/2........................... July 1, 2004...... Jan. 1, 2005.
4 7/8........................... Jan. 1, 2005...... July 1, 2005.
4 1/2........................... July 1, 2005...... Jan. 1, 2006.
4 7/8........................... Jan. 1, 2006...... July 1, 2006.
5 3/8........................... July 1, 2006...... 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, 2008...... Jan. 1, 2009.
4 1/8........................... Jan. 1, 2009...... July 1, 2009.
4 1/8........................... July 1, 2009...... Jan. 1, 2010.
4 1/4........................... Jan. 1, 2010...... July 1, 2010.
4 1/8........................... July 1, 2010...... Jan. 1, 2011.
3 7/8........................... Jan. 1, 2011...... July 1, 2011.
4 1/8........................... July 1, 2011...... Jan. 1, 2012.
2 7/8........................... Jan. 1, 2012...... July 1, 2012.
2 3/4........................... July 1, 2012...... Jan. 1, 2013.
2 1/2........................... Jan. 1, 2013...... July 1, 2013.
2 7/8........................... July 1, 2013...... Jan. 1, 2014.
3 5/8........................... Jan. 1, 2014...... July 1, 2014.
------------------------------------------------------------------------
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
[[Page 3853]]
borne by debentures issued pursuant to section 221(g)(4) during the 6-
month period beginning January 1, 2014, is 2 1/2 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 10, 2014.
Carol J. Galante,
Assistant Secretary for Housing-Federal Housing Commissioner.
[FR Doc. 2014-01329 Filed 1-22-14; 8:45 am]
BILLING CODE 4210-67-P
