Mortgage and Loan Insurance Programs Under the National Housing Act-Debenture Interest Rates, 36614-36616 [2018-16255]
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36614
Federal Register / Vol. 83, No. 146 / Monday, July 30, 2018 / Notices
DEPARTMENT OF HOUSING AND
URBAN DEVELOPMENT
[Docket No. FR–7006–N–11]
60-Day Notice of Proposed Information
Collection: ONAP Training and
Technical Assistance Evaluation Form
Office of the Assistant
Secretary for Public and Indian
Housing, PIH, HUD.
ACTION: Notice.
AGENCY:
HUD is seeking approval from
the Office of Management and Budget
(OMB) for the information collection
described below. In accordance with the
Paperwork Reduction Act, HUD is
requesting comment from all interested
parties on the proposed collection of
information. The purpose of this notice
is to allow for 60 days of public
comment.
SUMMARY:
Comments Due Date: September
28, 2018.
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:
Colette Pollard, Reports Management
Officer, QDAM, Department of Housing
and Urban Development, 451 7th Street
SW, Room 4176, Washington, DC
20410–5000; telephone 202–402–3400
(this is not a toll-free number) or email
at Colette.Pollard@hud.gov for a copy of
DATES:
Information collection
Number of
respondents
the proposed forms or other available
information. Persons with hearing or
speech impairments may access this
number through TTY by calling the tollfree Federal Relay Service at (800) 877–
8339.
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.
This is not a toll-free number. Persons
with hearing or speech impairments
may access this number through TTY by
calling the toll-free Federal Relay
Service at (800) 877–8339.
Copies of available documents
submitted to OMB may be obtained
from Ms. Pollard.
SUPPLEMENTARY INFORMATION: This
notice informs the public that HUD is
seeking approval from OMB for the
information collection described in
Section A.
A. Overview of Information Collection
Title of Information Collection: ONAP
Training and Technical Assistance
Evaluation Form.
OMB Approval Number: Pending
OMB Approval.
Type of Request: New Collection.
Form Number: Form HUD–5879.
Description of the Need for the
Information and Proposed Use: The
Frequency of
response
Responses
per annum
Burden hour
per response
Native American Housing Assistance
and Self-Determination Reauthorization
Act (NAHASDA) authorizes funding for
the Indian Housing Block Grant (IHBG)
program that supports the development,
management, and operation of
affordable homeownership and rental
housing; infrastructure development;
and other forms of housing assistance
intended for low-income persons.
Federally-recognized Native American
and Alaska Native tribes, triballydesignated housing entities, and the
Department of Hawaiian Home Lands
are eligible to receive IHBG funds.
HUD’s Office of Native American
Programs (ONAP) administers the IHBG
program and offers contracted training
and technical assistance to IHBG
recipients on program requirements.
ONAP’s Notice of Funding Availability
for training and technical assistance
services includes the requirement for
the contractor(s) to use an OMBapproved evaluation form at all ONAPsponsored events. At the end of each
training and technical assistance event,
participants are invited to voluntarily
complete the Training and Technical
Assistance Evaluation Form (form
HUD–5879) to assess training and
technical assistance effectiveness and
solicit ideas for improvement. Form
HUD–5879 is a one-page survey
instrument and does not collect any
personally identifiable information,
including a participant’s name.
Annual burden
hours
Hourly cost
per response
Annual cost
HUD–5879 ...................
40
200
8,000
.2
1,600
$36
$57,600
Total ......................
40
200
8,000
.2
1,600
36
57,600
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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 automated
collection techniques or other forms of
VerDate Sep<11>2014
20:33 Jul 27, 2018
Jkt 244001
information technology, e.g., permitting
electronic submission of responses.
HUD encourages interested parties to
submit comment in response to these
questions.
DEPARTMENT OF HOUSING AND
URBAN DEVELOPMENT
[Docket No. FR–6078–N–02]
C. Authority
Mortgage and Loan Insurance
Programs Under the National Housing
Act—Debenture Interest Rates
Section 3507 of the Paperwork
Reduction Act of 1995, 44 U.S.C.
Chapter 35.
AGENCY:
Dated: July 2, 2018.
Merrie Nichols-Dixon, Director,
Office of Policy, Program and Legislative
Initiatives.
[FR Doc. 2018–16141 Filed 7–27–18; 8:45 am]
BILLING CODE 4210–67–P
PO 00000
Frm 00102
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Sfmt 4703
Office of the Assistant
Secretary for Housing, HUD.
ACTION: Notice.
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 July 1, 2018, is 3
SUMMARY:
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Federal Register / Vol. 83, No. 146 / Monday, July 30, 2018 / Notices
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
July 1, 2018, is 31⁄8 percent.
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 July 1, 2018, is 31⁄8
percent; and (2) has approved the
establishment of the debenture interest
rate by the Secretary of HUD at 31⁄8
percent for the 6-month period
beginning July 1, 2018. This interest rate
will be the rate borne by debentures
VerDate Sep<11>2014
20:33 Jul 27, 2018
Jkt 244001
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 latter 6 months of 2018.
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
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 ................
PO 00000
Frm 00103
On or after
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
Fmt 4703
Sfmt 4703
Prior to
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.
Effective
interest rate
41⁄8 ................
37⁄8 ................
41⁄8 ................
27⁄8 ................
23⁄4 ................
21⁄2 ................
27⁄8 ................
35⁄8 ................
31⁄4 ................
3 ...................
27⁄8 ................
27⁄8 ................
21⁄2 ................
23⁄4 ................
27⁄8 ................
23⁄4 ................
31⁄8 ................
On or after
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
Jan. 1, 2016
July 1, 2016
Jan. 1, 2017
July 1, 2017
Jan. 1, 2018
July 1, 2018
36615
Prior to
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.
Jan. 1, 2016.
July 1, 2016.
Jan. 1, 2017.
July 1, 2017.
Jan. 1, 2018.
July 1, 2018.
Jan. 1, 2019.
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 July 1, 2018, is 3
percent.
The subject matter of this notice falls
within the categorical exemption from
HUD’s environmental clearance
procedures set forth in 24 CFR
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36616
Federal Register / Vol. 83, No. 146 / Monday, July 30, 2018 / Notices
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: July 24, 2018.
Brian D. Montgomery,
Assistant Secretary for Housing—Federal
Housing Commissioner.
Mount Diablo Meridian, Nevada
T. 22 S., R. 60 E.,
Sec. 29, SW1⁄4NW1⁄4SE1⁄4,
W1⁄2SE1⁄4NW1⁄4SE1⁄4.
The area described contains 15 acres in
Clark County, Nevada.
[FR Doc. 2018–16255 Filed 7–27–18; 8:45 am]
BILLING CODE 4210–67–P
DEPARTMENT OF THE INTERIOR
Bureau of Land Management
[LLNVS01000.L58530000.EQ0000.241A; N–
95402; 12–08807; MO#4500118043;
TAS:15X5232]
Notice of Realty Action: Classification
for Lease and/or Conveyance for
Recreation and Public Purposes of
Public Lands (N–95402) for a School in
the Southwest Portion of the Las
Vegas Valley, Clark County, NV
Bureau of Land Management,
Department of Interior.
ACTION: Notice of realty action.
AGENCY:
The Bureau of Land
Management (BLM), Las Vegas Field
Office, has examined and found suitable
for classification for lease and
subsequent conveyance under the
provisions of the Recreation and Public
Purposes Act (R&PP), as amended,
approximately 15 acres of public land in
the Las Vegas Valley, Clark County,
Nevada. The Clark County School
District proposes to use the land for an
elementary school that will help meet
future educational needs in the
southwestern part of the Las Vegas
Valley.
DATES: Interested parties may submit
written comments regarding the
proposed classification for lease and
conveyance of the land until September
13, 2018.
ADDRESSES: Mail written comments to
the BLM Las Vegas Field Office, 4701
North Torrey Pines Drive, Las Vegas,
Nevada 89130, fax to 775–515–5010,
Attn: Vivian Browning, or email to
vbrowning@blm.gov.
FOR FURTHER INFORMATION CONTACT:
Vivian Browning at the above address,
telephone: 702–515–5013, email:
vbrowning@blm.gov. Persons who use a
telecommunications device for the deaf
(TDD) may call the Federal Relay
Service (FRS) at 1–800–877–8339 to
contact the above individual during
normal business hours. The FRS is
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SUMMARY:
VerDate Sep<11>2014
20:33 Jul 27, 2018
Jkt 244001
available 24 hours a day, 7 days a week,
to leave a message or question with the
above individual. You will receive a
reply during normal business hours.
SUPPLEMENTARY INFORMATION: The parcel
is located south of Mountains Edge
Parkway off El Capitan Way in
southwest Las Vegas and is legally
described as:
The Clark County School District has
filed an R&PP application to develop the
above-described land as an elementary
school. The project will consist of five
school buildings, parking for school
staff, public parking, busing routes with
student pick-up and drop-off points,
kindergarten classrooms with a fencedoff play area, areas for basketball courts,
ball fields, bike racks, shaded rest areas,
a botanical learning area, a turf play
area, playgrounds, a tetherball court
area, and utilities. Additional detailed
information pertaining to this
publication, plan of development, and
site plan is available for review at the
BLM Las Vegas Field Office at the above
address.
The Clark County School District is a
political subdivision of the State of
Nevada, and is, therefore, a qualified
applicant under the R&PP Act.
Subject to limitations prescribed by
law and regulation, prior to patent
issuance, the holder of any right-of-way
grant within the lease area may be given
the opportunity to amend the right-ofway grant for conversion to a new term,
including perpetuity, if applicable.
The land identified is not needed for
any Federal purpose. The lease and/or
conveyance is consistent with the BLM
Las Vegas Resource Management Plan
dated October 5, 1998, and would be in
the public interest. The Clark County
School District has not applied for more
than the 640-acre limitation for public
purpose uses in a year and has
submitted a statement in compliance
with the regulations at 43 CFR
2741.4(b).
The lease and conveyance, when
issued, will be subject to the provisions
of the R&PP Act and applicable
regulations of the Secretary of the
Interior, and will contain the following
reservations to the United States:
1. A right-of-way thereon for ditches
or canals constructed by the authority of
the United States, Act of August 30,
1890 (43 U.S.C. 945);
2. All minerals shall be reserved to
the United States, together with the
PO 00000
Frm 00104
Fmt 4703
Sfmt 4703
right to prospect for, mine, and remove
such deposits for the same under
applicable law and such regulations as
the Secretary of the Interior may
prescribe; and
3. The parcel is subject to valid
existing rights.
Any lease and conveyance will also
contain any terms or conditions
required by law (including, but not
limited to, any terms or conditions
required by 43 CFR 2741.4), and will
contain an appropriate indemnification
clause protecting the United States from
claims arising out of the lessee’s/
patentee’s use, occupancy, or operations
on the leased/patented lands. It will also
contain any other terms and conditions
deemed necessary and appropriate by
the Authorized Officer.
Upon publication of this notice in the
Federal Register, the land described
above will be segregated from all other
forms of appropriation under the public
land laws, including the general mining
laws, except for lease and conveyance
under the R&PP Act, leasing under the
mineral leasing laws, and disposals
under the mineral material disposal
laws.
Interested parties may submit written
comments on the suitability for
classification of the land as a school
project in the City of Las Vegas.
Comments on the classification are
restricted to whether the land is
physically suited for the proposal,
whether the use will maximize the
future use or uses of the land, whether
the use is consistent with local planning
and zoning, or if the use is consistent
with state and Federal programs.
Interested parties may also submit
written comments regarding the specific
use proposed in the application and
plan of development, and whether the
BLM followed proper administrative
procedures in reaching the decision to
lease and convey under the R&PP Act.
Before including your address, phone
number, emails 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.
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. Only written comments
submitted to the Field Manager, BLM
Las Vegas Field Office, will be
considered properly filed. Any adverse
comments will be reviewed as protests,
by the BLM Nevada State Director, who
may sustain, vacate, or modify this
realty action.
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]]>Agencies
[Federal Register Volume 83, Number 146 (Monday, July 30, 2018)]
[Notices]
[Pages 36614-36616]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2018-16255]
-----------------------------------------------------------------------
DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT
[Docket No. FR-6078-N-02]
Mortgage and Loan Insurance Programs Under the National Housing
Act--Debenture Interest Rates
AGENCY: Office of the Assistant Secretary for Housing, 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 July
1, 2018, is 3
[[Page 36615]]
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 July 1, 2018, is 3\1/8\ percent.
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 July 1, 2018, is 3\1/8\ percent; and (2)
has approved the establishment of the debenture interest rate by the
Secretary of HUD at 3\1/8\ percent for the 6-month period beginning
July 1, 2018. 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 latter 6
months of 2018.
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.
2\7/8\.......................... July 1, 2015...... Jan. 1, 2016.
2\7/8\.......................... Jan. 1, 2016...... July 1, 2016.
2\1/2\.......................... July 1, 2016...... Jan. 1, 2017.
2\3/4\.......................... Jan. 1, 2017...... July 1, 2017.
2\7/8\.......................... July 1, 2017...... Jan. 1, 2018.
2\3/4\.......................... Jan. 1, 2018...... July 1, 2018.
3\1/8\.......................... July 1, 2018...... Jan. 1, 2019.
------------------------------------------------------------------------
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 July 1, 2018, is 3 percent.
The subject matter of this notice falls within the categorical
exemption from HUD's environmental clearance procedures set forth in 24
CFR
[[Page 36616]]
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: July 24, 2018.
Brian D. Montgomery,
Assistant Secretary for Housing--Federal Housing Commissioner.
[FR Doc. 2018-16255 Filed 7-27-18; 8:45 am]
BILLING CODE 4210-67-P
