[Federal Register Volume 62, Number 102 (Wednesday, May 28, 1997)]
[Notices]
[Page 28889]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 97-13945]
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DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT
[Docket No. FR-4245-D-03]
Office of the Assistant Secretary for Community Planning and
Development; Revocation of Authority
AGENCY: Office of the Assistant Secretary for Community Planning and
Development, HUD.
ACTION: Notice of revocation of authority to execute legal instruments
pertaining to Section 312 Rehabilitation Loans.
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SUMMARY: In this notice, the Assistant Secretary for Community Planning
and Development (CPD) revokes the current redelegation of authority to
certain CPD officials to execute legal instruments pertaining to the
Section 312 Loan Program, published in the Federal Register at 60 FR
14295, dated March 16, 1995.
EFFECTIVE DATE: May 19, 1997.
FOR FURTHER INFORMATION CONTACT:
Marcia Dodge, Office of Affordable Housing Programs, Room 7168,
Department of Housing and Urban Development, 451 Seventh Street, SW,
Washington, DC 20410, (202) 708-2685. (This is not a toll-free number.)
For hearing/speech-impaired individuals, this number may be accessed
via TTY by calling the Federal Information Relay Service at 1-800-877-
8399.
SUPPLEMENTARY INFORMATION: Since the Section 312 Rehabilitation Loan
program was terminated by Section 289 of the National Affordable
Housing Act of 1990 (42 U.S.C. 12839), no Section 312 loans are not
being made. However, Section 312 loan collection functions must
continue, and 12 U.S.C. 1701g-5c transferred the assets and liabilities
of the Section 312 revolving loan fund to the Department's revolving
fund for liquidating programs. Although the Assistant Secretary for CPD
has historically administered the Section 312 program, most loan
management and collection functions of CPD have been contracted out
over the years under various contractual arrangements. Under these
arrangements, contractor staff may prepare legal instruments to be
executed by HUD officials in connection with the servicing and
collection of Section 312 loans.
Pursuant to Section 306(e) of the National Housing Act, 12 U.S.C.
1721(e), the Government National Mortgage Association (Ginnie Mae) has
authority to service the Section 312 loan portfolio. In order to
expedite property foreclosures and judgments against the Section 312
borrowers in default and to take other actions associated with the
servicing to Section 312 loans, the Assistant Secretary for CPD and the
President of Ginnie Mae have agreed that one or more Ginnie Mae
employees should be authorized to sign legal instruments with respect
to servicing and collection of Section 312 loans.
In new delegation of authority being published concurrently
herewith, the Secretary of Housing and Urban Development has delegated
authority to the President of the Government National Mortgage
Association (Ginnie Mae) to execute legal instruments pertaining to
Section 312 loans, and to redelegate the authority to execute such
legal instruments.
Accordingly, the Assistant Secretary for CPD revokes authority as
follows:
Section A. Authority Revoked
1. The Assistant Secretary for Community Planning and Development
(CPD) revokes in full the redelegation of authority to the Deputy
Assistant Secretary for Grant Programs, CPD; the Director, Office of
Affordable Housing Programs, CPD; the Deputy Director, Office of
Affordable Housing Programs, CPD; and the Affordable Housing Loan
Specialist, CPD, published on March 16, 1995, at 60 FR 14295 pertaining
to the execution of legal instruments related to Section 312
Rehabilitation Loans, as enumerated therein.
Authority: Section 312 of the Housing Act of 1964, 42 U.S.C.
1452b; 12 U.S.C. 1701g-5c; and section C, Delegation of Authority,
48 FR 49384, October 25, 1983; Section 7(d), Department of Housing
and Urban Development Act, 42 U.S.C., Section 3535(d).
Dated: May 19, 1997.
Jacquie M. Lawing,
Acting Assistant Secretary for Community Planning and Development.
[FR Doc. 97-13945 Filed 5-27-97; 8:45 am]
BILLING CODE 4210-29-M
