Mortgage and Loan Insurance Programs Under the National Housing Act-Debenture Interest Rates, 48492-48494 [2022-17024]

Download as PDF 48492 Federal Register / Vol. 87, No. 152 / Tuesday, August 9, 2022 / Notices Hazardous Substances—Basic Research and Education; 93.894, Resources and Manpower Development in the Environmental Health Sciences; 93.113, Biological Response to Environmental Health Hazards; 93.114, Applied Toxicological Research and Testing, National Institutes of Health, HHS) Dated: August 4, 2022. Miguelina Perez, Program Analyst, Office of Federal Advisory Committee Policy. [FR Doc. 2022–17034 Filed 8–8–22; 8:45 am] BILLING CODE 4140–01–P DEPARTMENT OF HEALTH AND HUMAN SERVICES National Institutes of Health National Institute on Aging; Notice of Closed Meeting jspears on DSK121TN23PROD with NOTICES Pursuant to section 10(d) of the Federal Advisory Committee Act, as amended, notice is hereby given of the following meeting. The meeting will be closed to the public in accordance with the provisions set forth in sections 552b(c)(4) and 552b(c)(6), Title 5 U.S.C., as amended. The grant applications and the discussions could disclose confidential trade secrets or commercial property such as patentable material, and personal information concerning individuals associated with the grant applications, the disclosure of which would constitute a clearly unwarranted invasion of personal privacy. Name of Committee: National Institute on Aging Special Emphasis Panel Pepper Center Review. Date: September 2, 2022. Time: 2:00 p.m. to 3:00 p.m. Agenda: To review and evaluate grant applications. Place: National Institutes of Health, National Institute on Aging, Gateway Building, 7201 Wisconsin Avenue, Bethesda, MD 20892 (Virtual Meeting). Contact Person: Anita H. Undale, Ph.D., MD, Scientific Review Branch, National Institute on Aging, Gateway Building, Suite 2W200, 7201 Wisconsin Avenue, Bethesda, MD 20892, (301) 827–7428, anita.undale@ nih.gov. Information is also available on the Institute’s/Center’s home page: www.nia.nih.gov/, where an agenda and any additional information for the meeting will be posted when available. (Catalogue of Federal Domestic Assistance Program Nos. 93.866, Aging Research, National Institutes of Health, HHS) Dated: August 4, 2022. Miguelina Perez, Program Analyst, Office of Federal Advisory Committee Policy. DEPARTMENT OF HEALTH AND HUMAN SERVICES DEPARTMENT OF HEALTH AND HUMAN SERVICES National Institutes of Health National Institutes of Health National Institute on Alcohol Abuse and Alcoholism; Notice of Closed Meeting National Institute on Aging; Notice of Closed Meeting Pursuant to section 10(d) of the Federal Advisory Committee Act, as amended, notice is hereby given of the following meeting. The meeting will be closed to the public in accordance with the provisions set forth in sections 552b(c)(4) and 552b(c)(6), Title 5 U.S.C., as amended. The grant applications and the discussions could disclose confidential trade secrets or commercial property such as patentable material, and personal information concerning individuals associated with the grant applications, the disclosure of which would constitute a clearly unwarranted invasion of personal privacy. Name of Committee: National Institute on Alcohol Abuse and Alcoholism Special Emphasis Panel; NRSA Individual Fellowship (F30, F31, F32) Review Panel. Date: October 20, 2022. Time: 9:00 a.m. to 6:00 p.m. Agenda: To review and evaluate grant applications. Place: National Institutes of Health, National Institute on Alcohol Abuse and Alcoholism, 6700B Rockledge Drive, Bethesda, MD 20892 (Virtual Meeting). Contact Person: Luis Espinoza, Ph.D., Scientific Review Officer, Extramural Project Review Branch, Office of Extramural Activities, National Institute on Alcohol Abuse and Alcoholism, 6700B Rockledge Drive, Room 2109, Bethesda, MD 20892, (301) 443–8599, espinozala@mail.nih.gov. (Catalogue of Federal Domestic Assistance Program Nos. 93.271, Alcohol Research Career Development Awards for Scientists and Clinicians; 93.272, Alcohol National Research Service Awards for Research Training; 93.273, Alcohol Research Programs; 93.891, Alcohol Research Center Grants; 93.701, ARRA Related Biomedical Research and Research Support Awards, National Institutes of Health, HHS) Dated: August 4, 2022. Miguelina Perez, Program Analyst, Office of Federal Advisory Committee Policy. [FR Doc. 2022–17035 Filed 8–8–22; 8:45 am] BILLING CODE 4140–01–P Jkt 256001 PO 00000 Dated: August 4, 2022. Miguelina Perez, Program Analyst, Office of Federal Advisory Committee Policy. [FR Doc. 2022–17033 Filed 8–8–22; 8:45 am] BILLING CODE 4140–01–P DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT [Docket No. FR–6344–N–01] Mortgage and Loan Insurance Programs Under the National Housing Act—Debenture Interest Rates Office of the Assistant Secretary for Housing, HUD. ACTION: Notice. BILLING CODE 4140–01–P 18:04 Aug 08, 2022 Name of Committee: National Institute on Aging Special Emphasis Panel; Drug Repositioning and Combination Therapy for AD. Date: October 19, 2022. Time: 12:00 p.m. to 3:30 p.m. Agenda: To review and evaluate grant applications. Place: National Institutes of Health, National Institute on Aging, Gateway Building, 7201 Wisconsin Avenue, Bethesda, MD 20892 (Virtual Meeting). Contact Person: Alexander Parsadanian, Ph.D., Scientific Review Officer, National Institute on Aging, Gateway Building 2C/212, 7201 Wisconsin Avenue, Bethesda, MD 20892, 301–496–9666, PARSADANIANA@ NIA.NIH.GOV. Information is also available on the Institute’s/Center’s home page: www.nia.nih.gov/, where an agenda and any additional information for the meeting will be posted when available. (Catalogue of Federal Domestic Assistance Program Nos. 93.866, Aging Research, National Institutes of Health, HHS) AGENCY: [FR Doc. 2022–17032 Filed 8–8–22; 8:45 am] VerDate Sep<11>2014 Pursuant to section 10(d) of the Federal Advisory Committee Act, as amended, notice is hereby given of the following meeting. The meeting will be closed to the public in accordance with the provisions set forth in sections 552b(c)(4) and 552b(c)(6), Title 5 U.S.C., as amended. The grant applications and the discussions could disclose confidential trade secrets or commercial property such as patentable material, and personal information concerning individuals associated with the grant applications, the disclosure of which would constitute a clearly unwarranted invasion of personal privacy. Frm 00042 Fmt 4703 Sfmt 4703 E:\FR\FM\09AUN1.SGM 09AUN1 Federal Register / Vol. 87, No. 152 / Tuesday, August 9, 2022 / Notices 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 the Act during the 6month period beginning July 1, 2022, is 27⁄8 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 July 1, 2022, is 31⁄4 percent. FOR FURTHER INFORMATION CONTACT: Elizabeth Olazabal, Department of Housing and Urban Development, 451 Seventh Street SW, Room 5146, Washington, DC 20410–8000; telephone (202) 402–4608 (this is not a toll-free number). Individuals with speech or hearing impairments may access this number through TTY by calling the tollfree 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 jspears on DSK121TN23PROD with NOTICES SUMMARY: VerDate Sep<11>2014 18:04 Aug 08, 2022 Jkt 256001 provisions of Section 224, that the statutory maximum interest rate for the period beginning July 1, 2022, is 31⁄4 percent; and (2) has approved the establishment of the debenture interest rate by the Secretary of HUD at 31⁄4 percent for the 6-month period beginning July 1, 2022. 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 last 6 months of 2022). 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 ............. PO 00000 Frm 00043 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 Fmt 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. Sfmt 4703 Effective interest rate On or after 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 ................ 27⁄8 ............. 27⁄8 ............. 21⁄2 ............. 23⁄4 ............. 27⁄8 ............. 23⁄4 ............. 31⁄8 ............. 33⁄8 ............. 23⁄4 ............. 21⁄4 ............. 11⁄4 ............. 13⁄8 ............. 21⁄4 ............. 17⁄8 ............. 31⁄4 ............. 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 .. Jan. 1, 2016 .. July 1, 2016 .. Jan. 1, 2017 .. July 1, 2017 .. Jan. 1, 2018 .. July 1, 2018 .. Jan 1, 2019 ... July 1, 2019 .. Jan 1, 2020 ... July 1, 2020 .. Jan 1, 2021 ... July, 1 2021 .. Jan 1, 2022 ... July 1, 2022 .. 48493 Prior to 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. Jan. 1, 2016. July 1, 2016. Jan. 1, 2017. July 1, 2017. Jan. 1, 2018. July 1, 2018. Jan. 1, 2019. July 1, 2019. Jan 1, 2020. July 1, 2020. Jan. 1, 2021. July 1, 2021. Jan 1, 2022. July 1, 2022. Jan 1, 2023. 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). Similarly, Section 520(a) of the National Housing Act (12 U.S.C. 1735d) provides for the payment of an insurance claim in cash on a mortgage or loan insured under any section of the National Housing Act before or after the enactment of the Housing and Urban Development Act of 1965. The amount of such payment shall be equivalent to the face amount of the debentures that E:\FR\FM\09AUN1.SGM 09AUN1 48494 Federal Register / Vol. 87, No. 152 / Tuesday, August 9, 2022 / Notices would otherwise be issued, plus an amount equivalent to the interest which the debentures would have earned, computed to a date to be established pursuant to regulations issued by the Secretary. The implementing HUD regulations for multifamily insured mortgages at 24 CFR 207.259(e)(1) and (e)(6), when read together, provide that debenture interest on a multifamily insurance claim that is paid in cash is paid from the date of the loan default at the debenture rate in effect at the time of commitment or endorsement (or initial endorsement if there are two or more endorsements) of the loan, whichever is higher. 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, 2022, is 27⁄8 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).) Julia R. Gordon, Assistant Secretary for Housing, FHA Commissioner. [FR Doc. 2022–17024 Filed 8–8–22; 8:45 am] jspears on DSK121TN23PROD with NOTICES BILLING CODE 4210–67–P DEPARTMENT OF THE INTERIOR Bureau of Indian Affairs [Investigation No. 337–TA–1272] [223A2100DD/AAKC001030/ A0A501010.999900] Indian Gaming; Approval of TribalState Class III Gaming Compact Amendment Between the Confederated Tribes of the Chehalis Reservation and the State of Washington AGENCY: Bureau of Indian Affairs, Interior. ACTION: This notice publishes the approval of the Sixth Amendment to the Tribal State Compact for Class III Gaming Between the Confederated Tribes of the Chehalis Reservation and the State of Washington (Amendment). SUMMARY: The Amendment takes effect on August 9, 2022. DATES: Ms. Paula L. Hart, Director, Office of Indian Gaming, Office of the Deputy Assistant Secretary—Policy and Economic Development, Washington, DC 20240, paula.hart@bia.gov, (202) 219–4066. FOR FURTHER INFORMATION CONTACT: Under section 11 of the Indian Gaming Regulatory Act (IGRA), Public Law 100– 497, 25 U.S.C. 2701 et seq., the Secretary of the Interior shall publish in the Federal Register notice of approved Tribal-State compacts for the purpose of engaging in Class III gaming activities on Indian lands. As required by 25 CFR 293.4, all compacts and amendments are subject to review and approval by the Secretary. The Amendment authorizes the Tribe to engage in sports wagering at the Tribe’s class III gaming facilities, updates the Compact to reflect this change in various sections, and incorporates Appendix S, Sports Wagering. The Amendment also adopts Appendices previously adopted by other Washington Tribes, including Appendix B, governing off-track wagering; Appendix D, governing gaming machine transfers between tribes; Appendix E, governing limits, credit, facilities, problem gambling contribution; and Appendix W, governing wide area progressives. The Amendment is approved. Authority: 25 CFR 293.15. SUPPLEMENTARY INFORMATION: [FR Doc. 2022–17028 Filed 8–8–22; 8:45 am] BILLING CODE 4337–15–P 18:04 Aug 08, 2022 Jkt 256001 PO 00000 Frm 00044 Fmt 4703 Certain Integrated Circuits and Products Containing Same; Notice of Commission Decision Not To Review an Initial Determination Terminating the Investigation Based on Settlement; Termination of Investigation U.S. International Trade Commission. ACTION: Notice. AGENCY: Notice is hereby given that the U.S. International Trade Commission has determined not to review an initial determination (‘‘ID’’) (Order No. 24) of the presiding administrative law judge (‘‘ALJ’’), terminating the investigation based on settlement. The investigation is terminated. SUMMARY: Notice. Bryan Newland, Assistant Secretary—Indian Affairs. VerDate Sep<11>2014 INTERNATIONAL TRADE COMMISSION Sfmt 4703 FOR FURTHER INFORMATION CONTACT: Megan M. Valentine, Esq., Office of the General Counsel, U.S. International Trade Commission, 500 E Street SW, Washington, DC 20436, telephone (202) 708–2301. Copies of non-confidential documents filed in connection with this investigation may be viewed on the Commission’s electronic docket (EDIS) at https://edis.usitc.gov. For help accessing EDIS, please email EDIS3Help@usitc.gov. General information concerning the Commission may also be obtained by accessing its internet server at https://www.usitc.gov. Hearing-impaired persons are advised that information on this matter can be obtained by contacting the Commission’s TDD terminal, telephone 202–205–1810. SUPPLEMENTARY INFORMATION: The Commission instituted this investigation on July 27, 2021, based on a complaint filed on behalf of MediaTek Inc. of Taiwan and MediaTek USA Inc. of San Jose, California (collectively, ‘‘MediaTek’’). 86 FR 40208–09 (Jul. 27, 2021). The complaint alleges violations of section 337 of the Tariff Act of 1930, as amended, 19 U.S.C. 1337, based upon the importation into the United States, the sale for importation, and the sale within the United States after importation of certain integrated circuits and products containing same by reason of infringement of certain claims of U.S. Patent Nos. 8,772,928 (‘‘the ’928 patent’’); 7,231,474 (‘‘the ’474 patent’’); 10,616,017 (‘‘the ’017 patent’’); 10,200,228 (‘‘the ’228 patent’’); and 10,264,580. The Commission’s notice of investigation named ten (10) respondents, including: NXP Semiconductors N.V. of Eindhoven, E:\FR\FM\09AUN1.SGM 09AUN1

Agencies

DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT

[Federal Register Volume 87, Number 152 (Tuesday, August 9, 2022)]
[Notices]
[Pages 48492-48494]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2022-17024]


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DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT

[Docket No. FR-6344-N-01]


Mortgage and Loan Insurance Programs Under the National Housing 
Act--Debenture Interest Rates

AGENCY: Office of the Assistant Secretary for Housing, HUD.

ACTION: Notice.

-----------------------------------------------------------------------

[[Page 48493]]

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 the Act 
during the 6-month period beginning July 1, 2022, is 2\7/8\ 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 July 1, 2022, is 3\1/4\ percent.

FOR FURTHER INFORMATION CONTACT: Elizabeth Olazabal, Department of 
Housing and Urban Development, 451 Seventh Street SW, Room 5146, 
Washington, DC 20410-8000; telephone (202) 402-4608 (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, 2022, is 3\1/4\ percent; and (2) 
has approved the establishment of the debenture interest rate by the 
Secretary of HUD at 3\1/4\ percent for the 6-month period beginning 
July 1, 2022. 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 last 6 months 
of 2022).
    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.
3\3/8\..........................  Jan 1, 2019.......  July 1, 2019.
2\3/4\..........................  July 1, 2019......  Jan 1, 2020.
2\1/4\..........................  Jan 1, 2020.......  July 1, 2020.
1\1/4\..........................  July 1, 2020......  Jan. 1, 2021.
1\3/8\..........................  Jan 1, 2021.......  July 1, 2021.
2\1/4\..........................  July, 1 2021......  Jan 1, 2022.
1\7/8\..........................  Jan 1, 2022.......  July 1, 2022.
3\1/4\..........................  July 1, 2022......  Jan 1, 2023.
------------------------------------------------------------------------

    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).
    Similarly, Section 520(a) of the National Housing Act (12 U.S.C. 
1735d) provides for the payment of an insurance claim in cash on a 
mortgage or loan insured under any section of the National Housing Act 
before or after the enactment of the Housing and Urban Development Act 
of 1965. The amount of such payment shall be equivalent to the face 
amount of the debentures that

[[Page 48494]]

would otherwise be issued, plus an amount equivalent to the interest 
which the debentures would have earned, computed to a date to be 
established pursuant to regulations issued by the Secretary. The 
implementing HUD regulations for multifamily insured mortgages at 24 
CFR 207.259(e)(1) and (e)(6), when read together, provide that 
debenture interest on a multifamily insurance claim that is paid in 
cash is paid from the date of the loan default at the debenture rate in 
effect at the time of commitment or endorsement (or initial endorsement 
if there are two or more endorsements) of the loan, whichever is 
higher.
    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, 2022, is 2\7/8\ 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).)

Julia R. Gordon,
Assistant Secretary for Housing, FHA Commissioner.
[FR Doc. 2022-17024 Filed 8-8-22; 8:45 am]
BILLING CODE 4210-67-P

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