[Federal Register Volume 60, Number 221 (Thursday, November 16, 1995)]
[Notices]
[Page 57589]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 95-28281]
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DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT
Office of the Assistant Secretary for Housing--Federal Housing
Commissioner
[Docket No. FR-3990-D-01]
Redelegation of Authority
AGENCY: Office of the Assistant Secretary for Housing--Federal Housing
Commissioner.
ACTION: Notice of redelegation of authority.
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SUMMARY: This notice redelgates authority from the Assistant Secretary
for Housing--Federal Housing Commissioner to certain positions within
the Office of the Federal Housing Administration Comptroller, for the
purpose of executing documents to effectuate the transfer of title to
Title I loans sold by the Department of Housing and Urban Development.
EFFECTIVE DATE: November 7, 1995.
FOR FURTHER INFORMATION CONTACT:
William Richbourg, Director, Management Control Staff, U.S. Department
of Housing and Urban Development, 451 7th Street, SW., Room 5144,
Washington, DC 20410, telephone (202) 401-0577. A telecommunications
device for the hearing-impaired (TDD) is available at 202-708-4594.
(These are not toll-free numbers.)
SUPPLEMENTARY INFORMATION: On July 7, 1994, at 59 FR 34857, the
Assistant Secretary for Housing-Federal Housing Commissioner
redelegated to the Director, Office of Mortgage Insurance Accounting
and Servicing, Office of the FHA Comptroller, at headquarters, and to
each of the Directors of the three HUD FHA Debt Management Centers, in
the field, certain authority with regard to debt arising from the
payment of claims under Title I of the National Housing Act. Among
other things, they were granted the authority to execute documents
necessary to transfer or subordinate title in and to any debt,
contract, claim or security instrument obtained by the Secretary, and
to satisfy and/or execute deeds, liens and notes.
FHA is now in the process of engaging in a sale of approximately
16,000 Title I notes, based upon sealed bids which are to be opened
November 7, 1995. In order to effectuate the transfer of these
specified Title I loans, it is necessary to provide additional HUD
employees with the authority to execute all of the necessary documents.
Among other things, these employees will have the authority to execute
powers of attorney to enable the purchaser(s) to assign the Title I
loans to themselves. In addition, FHA may engage in future sales of
Title I loans, which will again require the assistance of these HUD
employees.
Accordingly, the Assistant Secretary for Housing--Federal Housing
Commissioner redelegates authority as follows:
Section A. Authority Redelegated
The Director, Office of Mortgage Insurance Accounting and
Servicing; the Director, Title I Accounting and Servicing Division; the
Deputy Director, Title I Accounting and Servicing Division; the Chief,
Title I Operations Branch; the Chief, Title I Notes Branch; and the
Director, Management Control Staff, all of the Office of the Federal
Housing Administration Comptroller, are each redelegated the power and
authority to execute all documents necessary to effectuate the transfer
of title in and to Title I loans sold by the Department of Housing and
Urban Development. This redelegation includes, but is not limited to,
the authority to execute powers of attorney to enable the purchaser or
purchasers of the loan to execute the necessary assignments of notes,
and mortgages or deeds of trust.
Section B. Limited Authority to Further Redelegate
The authority granted in Section A., above, may be further
redelegated in writing by the Director, Office of Mortgage Insurance
Accounting and Servicing, pursuant to this redelegation. The authority
granted in Section A. may not be further redelegated by any of the
other officials listed within Section A.
Authority: Sec.7(d), Department of Housing and Urban Development
Act (42 U.S.C. 3535(d).)
Dated: November 7, 1995.
Nicolas P. Retsinas,
Assistant Secretary for Housing--Federal Housing Commissioner.
[FR Doc. 95-28281 Filed 11-15-95; 8:45 am]
BILLING CODE 4210-27-M
