Department of Housing and Urban Development June 22, 2006 – Federal Register Recent Federal Regulation Documents

Opinion of Counsel to the Mortgagor
Document Number: E6-9830
Type: Notice
Date: 2006-06-22
Agency: Department of Housing and Urban Development
The proposed information collection requirement described below has been submitted to the Office of Management and Budget (OMB) for review, as required by the Paperwork Reduction Act. The Department is soliciting public comments on the subject proposal. The opinion is required to provide comfort to HUD and the mortgagee in multifamily rental and health care facility mortgage insurance transactions and similarly to HUD and owners in the capital advance transactions.
Title I Property Improvement and Manufactured Home Loan Programs
Document Number: E6-9828
Type: Notice
Date: 2006-06-22
Agency: Department of Housing and Urban Development
The proposed information collection requirement described below has been submitted to the Office of Management and Budget (OMB) for review, as required by the Paperwork Reduction Act. The Department is soliciting public comments on the subject proposal. Financial institutions obtain insurance on loans for repair/ improvement of property; purchase of a manufactured home and/or lot; the purchase of fire safety equipment in existing health care facilities; and the preservation of historic structures.
Debenture Interest Payment Changes
Document Number: 06-5577
Type: Rule
Date: 2006-06-22
Agency: Department of Housing and Urban Development
This final rule makes conforming revisions to the regulations under the single family mortgage insurance program with respect to the payment of interest at the debenture rate for mortgage insurance claims. The revisions implement a recent statutory amendment to the National Housing Act that provides for a mandatory change in the calculation of all debenture interest on mortgage insurance claims paid in cash. The statutory change mandates that, when paying insurance claims in cash, debenture interest rates for such claims must 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.