Department of Housing and Urban Development August 4, 2011 – Federal Register Recent Federal Regulation Documents

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, 2011, is 3 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, 2011, is 4\1/8\ 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 adjusted to a constant maturity of 10 years.

Section 7(d) of the Department of Housing and Urban Development Act, as amended, provides authority to the Secretary to delegate functions, powers, and duties as the Secretary deems necessary. By separate notice published in today's Federal Register, the Assistant Secretary for Public and Indian Housing delegates authority, through the General Deputy Assistant Secretary, to Deputy Assistant Secretary for the Office of Native American Programs to perform program administration, oversight and enforcement responsibilities for certain of HUD's programs directed to Native Americans, and authorizes the Deputy Assistant Secretary for the Office of Native American Programs to redelegate such authority. In this redelegation of authority, the Deputy Assistant Secretary for the Office of Native American Programs (ONAP) redelegates authority for the administration, oversight and enforcement of certain PIH programs.

Section 7(d) of the Department of Housing and Urban Development Act, as amended, authorizes the Secretary to delegate functions, powers, and duties as the Secretary deems necessary. By separate notice published in today's Federal Register, the Secretary delegates to the Assistant Secretary for Public and Indian Housing and the General Deputy Assistant Secretary for Public and Indian Housing authority for the administration of certain Public and Indian Housing (PIH) programs, and authorizes the Assistant Secretary to further redelegate such authority. In this consolidated redelegation of authority the Assistant Secretary for PIH redelegates to the PIH Deputy Assistant Secretaries authority for the administration of certain PIH programs.

Section 7(d) of the Department of Housing and Urban Development (HUD) Act, as amended, authorizes the Secretary to delegate functions, powers, and duties as the Secretary deems necessary. In this delegation of authority, the Secretary delegates authority to the Assistant Secretary and the General Deputy Assistant Secretary for the Office of Public and Indian Housing (PIH) and authorizes the Assistant Secretary and the General Deputy Assistant Secretary to redelegate authority for the administration of certain PIH programs. This delegation revokes and supersedes all prior delegations of authority, including the delegation published on August 4, 2004 (69 FR 47171).