Mortgage and Loan Insurance Programs Under the National Housing Act-Debenture Interest Rates, 5131-5132 [2015-01774]
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asabaliauskas on DSK5VPTVN1PROD with NOTICES
Federal Register / Vol. 80, No. 20 / Friday, January 30, 2015 / Notices
Status: Excess
Directions: 405; 435; 442; 812A; 812D
Comments: public access denied & no
alternative method to gain access w/out
compromising national security.
Reasons: Secured Area
Bldg. 828A, 834J, 834L, 848,850
700 East Ave.
Livermore CA 94550
Landholding Agency: Energy
Property Number: 41201440008
Status: Excess
Directions: 828A; 834J; 834L; 848; 850
Comments: public access denied & no
alternative method to gain access w/out
compromising national security.
Reasons: Secured Area
Facility 01055
Naval Air Weapon Station
China Lake CA 93555
Landholding Agency: Navy
Property Number: 77201510002
Status: Excess
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alternative method to gain access w/out
compromising national security;
documented deficiencies: roof has
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Reasons: Secured Area; Extensive
deterioration
Florida
2 Building
Naval Air Station
Pensacola FL 32509
Landholding Agency: Navy
Property Number: 77201440021
Status: Underutilized
Directions: 2402; 856A (property incorrectly
listed in the December 12, 2014 Federal
Register publication)
Comments: public access denied and no
alternative w/out compromising national
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Illinois
Master Sub Station
Fermi National Accelerator Lab
Batavia IL 60510
Landholding Agency: Energy
Property Number: 41201510001
Status: Excess
Comments: public access denied & no
alternative method to gain access w/out
compromising national security.
Reasons: Secured Area
Nebraska
543800B060 Swine Bldg.
60/RPUID 03.55088
844 RD: 313
None NE 68933
Landholding Agency: Agriculture
Property Number: 15201510003
Status: Excess
Directions: 19606 HRUSKA US Meat Animal
Res. Ctr.
Comments: research based camps; Public
access denied & no alternative method to
gain access w/out compromising national
security.
Reasons: Secured Area
543800B062 Swine Bldg.
62/RPUID 03.55090
844 RD 313
None NE 68933
VerDate Sep<11>2014
18:50 Jan 29, 2015
Jkt 235001
Landholding Agency: Agriculture
Property Number: 15201510004
Status: Excess
Directions: 19606 HRUSKA US meat Animal
Res. Ctr
Comments: research based camps; Public
access denied & no alternative method to
gain access w/out compromising national
security.
Reasons: Secured Area
543800B0061 Swine Bldg.
61/RPUID 03.55089
844 BD 313
None NE 68933
Landholding Agency: Agriculture
Property Number: 15201510005
Status: Excess
Directions: 19606 HRUSKA US Meat Animal
Res. Ctr.
Comments: research based camps; Public
access denied & no alternative method to
gain access w/out compromising national
security.
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Unsuitable Properties
New Mexico
5131
[Docket No. FR–5847–N–01]
Hammond Residence
790 C.R. 4990
Bloomfield NM 87413
Landholding Agency: Interior
Property Number: 61201440015
Status: Unutilized
Comments: documented deficiencies;
structural unsound; roof is severely dry
rotted; extensive wall damage due to dry
rot/massive holes; clear threat to physical
safety.
Reasons: Extensive deterioration
Building 114 & 437
12600 NASA Road
Las Cruces NM 88012
Landholding Agency: NASA
Property Number: 71201440017
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Directions: 114; 437
Comments: public access denied & no
alternative method to gain access w/out
compromising national security.
Reasons: Secured Area
114 General Purpose Bldg. 437
12600 Nasa Road
Las Cruces NM 88012
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Status: Unutilized
Directions: 1029/72/22: 1069/72/99
Comments: public access denied & no
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compromising national security.
Reasons: Secured Area
Ohio
SPE Water Toner (D)
6100 Columbus Ave.
Sandusky OH 44870
Landholding Agency: NASA
Property Number: 71201510001
Status: Unutilized
Directions: RPM Property 22/1008/57.
Property Number #8151.
Comments: public access denied & no
alternative method to gain access w/out
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Reasons: Secured Area
PO 00000
Frm 00052
Fmt 4703
Sfmt 4703
Land
Ohio
Great Miami River Access Site
Lawrenceburg Rd.
North Bend OH 45052
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Property Number: 54201510005
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GSA Number: 1–D–OH–844
Directions: Disposal Agency: GSA;
Landholding Agency: COE
Comments: entire property located within a
floodway which has not been corrected or
contained.
Reasons: Floodway
[FR Doc. 2015–01469 Filed 1–26–15; 8:45 am]
BILLING CODE 4210–67–P
DEPARTMENT OF HOUSING AND
URBAN DEVELOPMENT
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
debentures issued under section
221(g)(4) of the Act during the 6-month
period beginning January 1, 2015, is 2
1/4 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, 2015, is 3 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
SUMMARY:
E:\FR\FM\30JAN1.SGM
30JAN1
5132
Federal Register / Vol. 80, No. 20 / Friday, January 30, 2015 / Notices
Effective
interest rate
On or after
Prior to
FOR FURTHER INFORMATION CONTACT:
asabaliauskas on DSK5VPTVN1PROD with NOTICES
adjusted to a constant maturity of 10
years.
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 ............
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 ............
41⁄8 ............
37⁄8 ............
41⁄8 ............
27⁄8 ............
23⁄4 ............
21⁄2 ............
27⁄8 ............
35⁄8 ............
31⁄4 ............
3 ................
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
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
July 1, 2014
Jan. 1, 2015
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
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
July 1, 2014
Jan. 1, 2015
July 1, 2015
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, 2015, is 3
percent; and (2) has approved the
establishment of the debenture interest
rate by the Secretary of HUD at 3
percent for the 6-month period
beginning January 1, 2015. 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 2015.
For convenience of reference, HUD is
publishing the following chart of
debenture interest rates applicable to
mortgages committed or endorsed since
January 1, 1980:
VerDate Sep<11>2014
18:50 Jan 29, 2015
Jkt 235001
PO 00000
Frm 00053
Fmt 4703
Sfmt 9990
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, 2015, is 21⁄4
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 26, 2015.
Biniam Gebre,
Acting Assistant Secretary for Housing—
Federal Housing Commissioner.
[FR Doc. 2015–01774 Filed 1–29–15; 8:45 am]
BILLING CODE 4210–67–P
E:\FR\FM\30JAN1.SGM
30JAN1
Agencies
[Federal Register Volume 80, Number 20 (Friday, January 30, 2015)]
[Notices]
[Pages 5131-5132]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2015-01774]
-----------------------------------------------------------------------
DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT
[Docket No. FR-5847-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, 2015, is 2 1/4 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, 2015, is 3
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
[[Page 5132]]
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, 2015, is 3 percent; and (2)
has approved the establishment of the debenture interest rate by the
Secretary of HUD at 3 percent for the 6-month period beginning January
1, 2015. 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 2015.
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
3\1/4\................................ July 1, 2014 Jan. 1, 2015
3..................................... Jan. 1, 2015 July 1, 2015
------------------------------------------------------------------------
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, 2015, is 2\1/4\ 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 26, 2015.
Biniam Gebre,
Acting Assistant Secretary for Housing--Federal Housing Commissioner.
[FR Doc. 2015-01774 Filed 1-29-15; 8:45 am]
BILLING CODE 4210-67-P