[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