[Federal Register Volume 60, Number 11 (Wednesday, January 18, 1995)]
[Notices]
[Page 3647]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 95-1122]



[[Page 3647]]

DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT

[Docket No. N-95-3868; FR-3854-N-01]


Notice of Accepted Bid for the Section 221(g)(4) Multifamily 
Project Mortgage Auction

AGENCY: Office of the Assistant Secretary for Housing--Federal Housing 
Commissioner, HUD.

ACTION: Notice of Accepted Auction Bid.

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SUMMARY: The National Housing Act requires that the Secretary of HUD 
cause Federal Register publication of the accepted bid in a multifamily 
project mortgage auction. Accordingly, this notice announces the name 
of the auction winner and the amount of the accepted bid for the 
auction conducted on October 25, 1994.

FOR FURTHER INFORMATION CONTACT:
William S. Richbourg, Direction, Management Control Staff, Office of 
the FHA-Comptroller, Room 5144, 451 Seventh Street, S.W., Washington, 
D.C., 20410, telephone (202) 401-0577. Hearing- or speech-impaired 
individuals may call HUD's TDD number (202) 708-4594. (These telephone 
numbers are not toll-free.)

SUPPLEMENTARY INFORMATION: The National Housing Act (12 U.S.C. 1701-
1749aaa-5) (the Act) authorizes and governs the Department's mortgage 
insurance program. On October 25, 1994, the Department conducted the 
first HUD-held multifamily project mortgage auction in ten years. The 
sale involved 206 mortgages that had been assigned to HUD under the 
Section 221(g)(4) assignment option of the Act. All 206 project 
mortgages in the auction were sold to one bidder. In accordance with 
paragraph 11.c. of the September 23, 1994 Announcement, the Department 
is publishing details concerning the accepted bid, as follows:

Winning Bidder: Lehman Brothers, Inc.
Winning Bid: 8.68% average yield

    Dated: January 10, 1995.
Nicolas P. Retsinas,
Assisstant Secretary for Housing--Federal Housing Commissioner.
[FR Doc. 95-1122 Filed 1-17-95; 8:45 am]
BILLING CODE 4210-27-M