Credit Watch Termination Initiative Termination of Direct Endorsement (DE) Approval, 49897-49898 [2024-12820]

Download as PDF Federal Register / Vol. 89, No. 114 / Wednesday, June 12, 2024 / Notices ddrumheller on DSK120RN23PROD with NOTICES1 FOR FURTHER INFORMATION CONTACT: Steven Cash, Designated Federal Officer and Senior Advisor to the Under Secretary for Intelligence and Analysis, Office of I&A, U.S. Department of Homeland Security, 202–282–9855, email HIAB@hq.dhs.gov. SUPPLEMENTARY INFORMATION: Individuals who are interested in serving on the Board are invited to apply for consideration for appointment. Applications must include: (a) a cover letter identifying one or more representative categories, described below, for which the applicant is qualified by interest, experience and background, (b) a resume detailing the applicant’s relevant experience for the position applied for, and (c) a brief biography. Applications should be submitted via email with subject line ‘‘The Board Vacancy Application’’ to HIAB@ hq.dhs.gov. If there are aspects of diversity that you wish to describe or emphasize in support of your candidacy, please do so within your cover letter. Members of the Board are appointed by and serve at the pleasure of the Under Secretary, Office of Intelligence and Analysis. The Board membership selection and appointment process is designed to afford the Under Secretary the advisory input of the most capable, diverse, and novel perspectives that the country has to offer. The appointment will be for a term of up to 5 years, with the opportunity to be reappointed for one additional term. Individuals selected for the appointment will serve as Representatives (i.e., members qualified to represent the interests of a specific group, industry, or organization, by virtue of his or her employment, education, experience, or affiliation with a specific group, industry, or organization). The Secretary has established the Board pursuant to section 871(a) of the Homeland Security Act of 2002. In recognition of the sensitive nature of the subject matter involved, the Secretary exempted the Board from The Federal Advisory Committee Act (FACA), 5 U.S.C. ch. 10. The Board will meet as often as needed to fulfill its mission, but typically four times each fiscal year, to address its objectives and duties. Board members may be reimbursed for travel and per diem incurred in the performance of their duties as members of the Board. All travel for Board business must be approved in advance by the Designated Federal Officer. The Board will consist of up to 40 members who are appointed by and serve at the pleasure of the Under Secretary. In order for the Under VerDate Sep<11>2014 17:43 Jun 11, 2024 Jkt 262001 Secretary to fully leverage broad-ranging experience and education, the Board must be diverse with regard to professional and technical expertise. DHS is committed to pursuing opportunities, consistent with applicable law, to compose a committee that reflects the diversity of the nation’s people. In this solicitation for Board Members, we will consider applications for the following categories: • National or Homeland Security including Intelligence Collection and Information Sharing. • Privacy and Civil Liberties. • State, Local, Tribal, Territorial, and Private Sector officials with Homeland Security Responsibilities. • Law. • Law Enforcement. • Legislative Activities. • Academia and Research Community. • Owners and Operators of Critical Infrastructure or Resources. Dated: June 6, 2024. Steven A. Cash, Designated Federal Officer, Homeland Intelligence Advisory Board, Department of Homeland Security. [FR Doc. 2024–12846 Filed 6–11–24; 8:45 am] BILLING CODE 9110–9N–P DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT [Docket No. FR–6475–N–01] Credit Watch Termination Initiative Termination of Direct Endorsement (DE) Approval Office of the Assistant Secretary for Housing—Federal Housing Commissioner, Department of Housing and Urban Development (HUD). ACTION: Notice. AGENCY: This notice advises of the cause and effect of termination of Direct Endorsement (DE) approval taken by HUD’s Federal Housing Administration (FHA) against HUD-approved mortgagees through the FHA Credit Watch Termination Initiative. This notice includes a list of mortgagees that have had their DE Approval terminated. FOR FURTHER INFORMATION CONTACT: John Higgins, Director, Quality Assurance Division, Office of Housing, Department of Housing and Urban Development, 451 Seventh Street SW, Washington, DC 20410–8000; telephone (202) 402–6730 (this is not a toll-free number). HUD welcomes and is prepared to receive calls from individuals who are deaf or hard of hearing, as well as individuals with speech or communication SUMMARY: PO 00000 Frm 00074 Fmt 4703 Sfmt 4703 49897 disabilities. To learn more about how to make an accessible telephone call, please visit https://www.fcc.gov/ consumers/guides/telecommunicationsrelay-service-trs. SUPPLEMENTARY INFORMATION: HUD has the authority to address deficiencies in the performance of lenders’ loans as provided in HUD’s mortgagee approval regulations at 24 CFR 202.3. On May 17, 1999, HUD published a notice (64 FR 26769) on its procedures for terminating Origination Approval Agreements with FHA lenders and placement of FHA lenders on Credit Watch status (an evaluation period). In the notice, HUD advised that it would publish in the Federal Register a list of mortgagees that have had their Approval Agreements terminated. HUD Handbook 4000.1 section V.E.3.a.iii outlines current procedures for terminating Underwriting Authority of Direct Endorsement mortgagees. Termination of Direct Endorsement Approval: HUD approval of a DE mortgagee authorizes the mortgagee to underwrite single family mortgage loans and submit them to FHA for insurance endorsement. The approval may be terminated on the basis of poor performance of FHA-insured mortgage loans underwritten by the mortgagee. The termination of a mortgagee’s DE Approval is separate and apart from any action taken by HUD’s Mortgagee Review Board under HUD regulations at 24 CFR part 25. Cause: HUD regulations permit HUD to terminate the DE Approval of any mortgagee having a default and claim rate for loans endorsed within the preceding 24 months that exceeds 200 percent of the default and claim rate within the geographic area served by a HUD field office, and that exceeds the national default and claim rate for insured mortgages. Effect: Termination of DE Approval precludes the mortgagee from underwriting FHA-insured single-family mortgages within the HUD field office jurisdiction(s) listed in this notice. Mortgagees authorized to hold or service FHA-insured mortgages may continue to do so. Loans that closed or were approved before the termination became effective may be submitted for insurance endorsement. Approved loans are those already underwritten and approved by a DE underwriter and cases covered by a firm commitment issued by HUD. Cases at earlier stages of processing cannot be submitted for insurance by the terminated mortgagee; however, the cases may be transferred for completion of processing and underwriting to E:\FR\FM\12JNN1.SGM 12JNN1 49898 Federal Register / Vol. 89, No. 114 / Wednesday, June 12, 2024 / Notices another mortgagee with DE Approval in that geographic area. Mortgagees must continue to pay existing insurance premiums and meet all other obligations associated with insured mortgages. A terminated mortgagee may apply for reinstatement if their DE Approval in the affected area or areas has been terminated for at least six months and the mortgagee continues to be an approved mortgagee meeting the requirements of 24 CFR 202.5, 202.6, 202.7, 202.10 and 202.12. The mortgagee’s application for reinstatement must be in a format prescribed by the Secretary and signed mortgagee must also submit a written corrective action plan to address each of the issues identified in the CPA’s report, along with evidence that the plan has been implemented. The application for reinstatement must be submitted through the Lender Electronic Assessment Portal (LEAP). The application must be accompanied by the CPA’s report and the corrective action plan. by the mortgagee. In addition, the application must be accompanied by an independent analysis of the terminated office’s operations as well as its mortgage production, specifically including the FHA-insured mortgages cited in its termination notice. This independent analysis shall identify the underlying cause for the mortgagee’s high default and claim rate. The analysis must be prepared by an independent Certified Public Accountant (CPA) qualified to perform audits under Government Auditing Standards as provided by the Government Accountability Office. The Action: The following mortgagees have had their DE Approval terminated by HUD: Mortgagee name Mortgagee home office address HUD office jurisdiction Termination effective date Open Mortgage, LLC ............. 5316 W Highway 290, Ste. 220, Austin, TX 78735–8923 ..... Des Monies .... 5/20/2024 Julia R. Gordon, Assistant Secretary for Housing—Federal Housing Commissioner. [FR Doc. 2024–12820 Filed 6–11–24; 8:45 am] BILLING CODE 4210–67–P DEPARTMENT OF THE INTERIOR Fish and Wildlife Service [Docket No. FWS–HQ–IA–2024–0096; FXIA16710900000–245–FF09A30000] Endangered Species; Issuance of Permits Fish and Wildlife Service, Interior. ACTION: Notice of issuance of permits. AGENCY: We, the U.S. Fish and Wildlife Service (Service), have issued the following permits to conduct certain activities with endangered species. We issue these permits under the Endangered Species Act (ESA). SUMMARY: Information about the applications for the permits listed in this notice is available online at https:// www.regulations.gov. See SUPPLEMENTARY INFORMATION for details. FOR FURTHER INFORMATION CONTACT: Timothy MacDonald, by phone at 703– 358–2185 or via email at DMAFR@ fws.gov. Individuals in the United States who are deaf, deafblind, hard of hearing, or have a speech disability may dial 711 (TTY, TDD, or TeleBraille) to access telecommunications relay services. Individuals outside the United States should use the relay services offered within their country to make international calls to the point-ofcontact in the United States. SUPPLEMENTARY INFORMATION: We, the U.S. Fish and Wildlife Service (Service), have issued permits to conduct certain activities with endangered and threatened species in response to permit applications that we received under the authority of section 10(a)(1)(A) of the Endangered Species Act of 1973 (16 U.S.C. 1531 et seq.) ADDRESSES: Homeownership center Denver. After considering the information submitted with each permit application and the public comments received, we issued the requested permits subject to certain conditions set forth in each permit. For each application for an endangered species, we found that (1) the application was filed in good faith, (2) the granted permit would not operate to the disadvantage of the endangered species, and (3) the granted permit would be consistent with the purposes and policy set forth in section 2 of the ESA. Availability of Documents The permittees’ original permit application materials, along with public comments we received during public comment periods for the applications, are available for review. To locate the application materials and received comments, go to https:// www.regulations.gov and search for the appropriate permit number (e.g., 12345C) provided in the following table: ddrumheller on DSK120RN23PROD with NOTICES1 ENDANGERED SPECIES Permit issuance date ePermit No. Applicant PER5691074 ........................................... The Amphibian and Reptile Diversity Research Center of the University of Texas at Arlington. Duke University ........................................................................................................ Columbus Zoo & Aquarium ..................................................................................... Duke University Lemur Center ................................................................................ Pinola Conservancy ................................................................................................. Naples Zoo Inc. ....................................................................................................... Duke University Lemur Center ................................................................................ PER4463030 PER8970502 PER6238013 PER9314361 PER8764801 PER3848559 VerDate Sep<11>2014 ........................................... ........................................... ........................................... ........................................... ........................................... ........................................... 17:43 Jun 11, 2024 Jkt 262001 PO 00000 Frm 00075 Fmt 4703 Sfmt 4703 E:\FR\FM\12JNN1.SGM 12JNN1 2024–01–29 2024–02–05 2024–05–20 2024–05–21 2024–05–21 2024–05–21 2024–05–21

Agencies

[Federal Register Volume 89, Number 114 (Wednesday, June 12, 2024)]
[Notices]
[Pages 49897-49898]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2024-12820]


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DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT

[Docket No. FR-6475-N-01]


Credit Watch Termination Initiative Termination of Direct 
Endorsement (DE) Approval

AGENCY: Office of the Assistant Secretary for Housing--Federal Housing 
Commissioner, Department of Housing and Urban Development (HUD).

ACTION: Notice.

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

SUMMARY: This notice advises of the cause and effect of termination of 
Direct Endorsement (DE) approval taken by HUD's Federal Housing 
Administration (FHA) against HUD-approved mortgagees through the FHA 
Credit Watch Termination Initiative. This notice includes a list of 
mortgagees that have had their DE Approval terminated.

FOR FURTHER INFORMATION CONTACT: John Higgins, Director, Quality 
Assurance Division, Office of Housing, Department of Housing and Urban 
Development, 451 Seventh Street SW, Washington, DC 20410-8000; 
telephone (202) 402-6730 (this is not a toll-free number). HUD welcomes 
and is prepared to receive calls from individuals who are deaf or hard 
of hearing, as well as individuals with speech or communication 
disabilities. To learn more about how to make an accessible telephone 
call, please visit https://www.fcc.gov/consumers/guides/telecommunications-relay-service-trs.

SUPPLEMENTARY INFORMATION: HUD has the authority to address 
deficiencies in the performance of lenders' loans as provided in HUD's 
mortgagee approval regulations at 24 CFR 202.3. On May 17, 1999, HUD 
published a notice (64 FR 26769) on its procedures for terminating 
Origination Approval Agreements with FHA lenders and placement of FHA 
lenders on Credit Watch status (an evaluation period). In the notice, 
HUD advised that it would publish in the Federal Register a list of 
mortgagees that have had their Approval Agreements terminated. HUD 
Handbook 4000.1 section V.E.3.a.iii outlines current procedures for 
terminating Underwriting Authority of Direct Endorsement mortgagees.
    Termination of Direct Endorsement Approval: HUD approval of a DE 
mortgagee authorizes the mortgagee to underwrite single family mortgage 
loans and submit them to FHA for insurance endorsement. The approval 
may be terminated on the basis of poor performance of FHA-insured 
mortgage loans underwritten by the mortgagee. The termination of a 
mortgagee's DE Approval is separate and apart from any action taken by 
HUD's Mortgagee Review Board under HUD regulations at 24 CFR part 25.
    Cause: HUD regulations permit HUD to terminate the DE Approval of 
any mortgagee having a default and claim rate for loans endorsed within 
the preceding 24 months that exceeds 200 percent of the default and 
claim rate within the geographic area served by a HUD field office, and 
that exceeds the national default and claim rate for insured mortgages.
    Effect: Termination of DE Approval precludes the mortgagee from 
underwriting FHA-insured single-family mortgages within the HUD field 
office jurisdiction(s) listed in this notice. Mortgagees authorized to 
hold or service FHA-insured mortgages may continue to do so.
    Loans that closed or were approved before the termination became 
effective may be submitted for insurance endorsement. Approved loans 
are those already underwritten and approved by a DE underwriter and 
cases covered by a firm commitment issued by HUD. Cases at earlier 
stages of processing cannot be submitted for insurance by the 
terminated mortgagee; however, the cases may be transferred for 
completion of processing and underwriting to

[[Page 49898]]

another mortgagee with DE Approval in that geographic area. Mortgagees 
must continue to pay existing insurance premiums and meet all other 
obligations associated with insured mortgages.
    A terminated mortgagee may apply for reinstatement if their DE 
Approval in the affected area or areas has been terminated for at least 
six months and the mortgagee continues to be an approved mortgagee 
meeting the requirements of 24 CFR 202.5, 202.6, 202.7, 202.10 and 
202.12. The mortgagee's application for reinstatement must be in a 
format prescribed by the Secretary and signed by the mortgagee. In 
addition, the application must be accompanied by an independent 
analysis of the terminated office's operations as well as its mortgage 
production, specifically including the FHA-insured mortgages cited in 
its termination notice. This independent analysis shall identify the 
underlying cause for the mortgagee's high default and claim rate. The 
analysis must be prepared by an independent Certified Public Accountant 
(CPA) qualified to perform audits under Government Auditing Standards 
as provided by the Government Accountability Office. The mortgagee must 
also submit a written corrective action plan to address each of the 
issues identified in the CPA's report, along with evidence that the 
plan has been implemented. The application for reinstatement must be 
submitted through the Lender Electronic Assessment Portal (LEAP). The 
application must be accompanied by the CPA's report and the corrective 
action plan.
    Action: The following mortgagees have had their DE Approval 
terminated by HUD:

----------------------------------------------------------------------------------------------------------------
                                Mortgagee home office       HUD office        Termination       Homeownership
        Mortgagee name                 address             jurisdiction      effective date         center
----------------------------------------------------------------------------------------------------------------
Open Mortgage, LLC............  5316 W Highway 290,    Des Monies.........       5/20/2024   Denver.
                                 Ste. 220, Austin, TX
                                 78735-8923.
----------------------------------------------------------------------------------------------------------------


Julia R. Gordon,
Assistant Secretary for Housing--Federal Housing Commissioner.
[FR Doc. 2024-12820 Filed 6-11-24; 8:45 am]
BILLING CODE 4210-67-P
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