[Federal Register Volume 60, Number 51 (Thursday, March 16, 1995)]
[Notices]
[Pages 14295-14296]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 95-6462]



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DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT
Office of the Assistant Secretary for Community Planning and 
Development
[Docket No. D-95-1084; FR-3900-D-01]


Supersedure and Redelegation of Authority To Execute Legal 
Instruments Pertaining to Section 312 Rehabilitation Loans

AGENCY: Office of the Assistant Secretary for Community Planning and 
Development, HUD.

ACTION: Notice of supersedure and redelegation of authority.

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SUMMARY: In this notice, the assistant Secretary for Community Planning 
and Development (CPD) supersedes prior redelegations of authority 
pertaining to the Section 312 Loan Program, including the most recent 
redelegation at 52 FR 10952, dated April 6, 1987. In this new 
redelegation of authority under the Section 312 Loan Program, the 
Assistant Secretary for CPD provides an additional official with 
signature authority, lists officials under new titles to reflect a 
recent Departmental reorganization, and clarifies which documents are 
covered by the redelegation.

EFFECTIVE DATE: March 10, 1995.

FOR FURTHER INFORMATION CONTACT:
William D. Hanson, Office of Affordable Housing Program, Room 7168, 
Department of Housing and Urban Development, 451 Seventh Street SW., 
Washington, DC 20410, (202) 401-3271. [This is not a toll-free 
number.].

SUPPLEMENTARY INFORMATION: The Secretary of Housing and Urban 
[[Page 14296]] Development has delegated most functions regarding the 
Section 312 Rehabilitation Loan Program under Section 312 of the 
Housing Act of 1964 (42 USC 1452(b)) to the Assistant Secretary for 
CPD. The Assistant Secretary for CPD has previously issued notices 
redelegating functions under the Section 312 Loan Program, and is by 
this notice issuing a new updated redelegation.

    The Secretary of HUD has also delegated certain functions 
pertaining to property management and disposition under the Section 312 
Rehabilitation Loan Program to the Assistant Secretary for Housing -- 
Federal Housing Commissioner. the most recent delegation to the 
Assistant Secretary for Housing -- Federal Housing Commissioner was 
published in the Federal Register on January 16, 1992, at 49 CFR 1942. 
That delegation remains in effect today, and is not affected by this 
present redelegation from the Assistant Secretary for CPD.
    Although the section 312 Rehabilitation Loan Program was terminated 
by Section 289 of the Cranston-Gonzalez Affordable housing Act of 1989 
(42 USC 12839), the Section 312 loan collection functions continue 
under 12 USC 1701(g)-5c (authorizing Section 312 collections to be 
deposited into the Department's revolving fund for liquidating 
programs). In order to expedite property foreclosures and judgments 
against the Section 312 borrowers in default and to take other actions 
associated with the servicing of Section 312 loans, the Assistant 
Secretary for CPD has determined that it is necessary to issue an 
updated redelegation pertaining to Section 312 loans. In this new 
redelegation, the Assistant Secretary for CPD redelegates authority to 
additional individuals and provides clarification as to the legal 
instruments covered by the redelegation. In addition, in this document, 
the Assistant Secretary for CPD supersedes the prior redelegations 
pertaining to the Section 312 Loan Program at 52 FR 10952 (dated April 
6, 1987), 51 FR 5412 (dated February 13, 1986), 50 FR 13667 (dated 
April 5, 1985) and 47 FR 33, 324 (dated August 2, 1982).
    Accordingly, the Assistant Secretary for CPD redelegates authority 
as follows:

A. Authority Redelegated

    The Deputy Assistant Secretary for Grant Programs, Office of 
Community Planning and Development; the Director, Office of Affordable 
Housing Programs; the Deputy Director, Office of Affordable Housing 
Programs; and the Affordable Housing Loan Specialist appointed as 
Government Technical Representative to the Section 312 Loan Servicing 
Contract, Office of Affordable Housing Programs, are hereby 
individually redelegated the authority to execute in the name of the 
Secretary written instruments relating to Section 312 Rehabilitation 
Loans, including but not limited to: Deeds of release, quit claim deeds 
and deeds of reconveyance; substitutions of trustees; compromises; 
write-offs; close outs; releases related to insurance policies; 
assignments or satisfactions of notes, mortgages, deeds of trust and 
other security instruments; and any other legal instrument or document 
related to certain Section 312 loan-related property management and 
disposition functions that have not been delegated to the Assistant 
Secretary for Housing.

B. Authority Superseded

    This redelegation supersedes previous redelegations of authority 
from the Assistant Secretary for CPD to execute legal instruments under 
the section 312 program, published at 47 FR 33324, August 2, 1982, 50 
FR 13667, April 5, 1985; 51 FR 5412, February 13, 1986; and 52 FR 
10952, April 6, 1987.

    Authority: Sec. 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: March 10, 1995
Andrew Cuomo,
Assistant Secretary for Community Planning and Development.
[FR Doc. 95-6462 Filed 3-15-95; 8:45 am]
BILLING CODE 4210-29-M