[Federal Register Volume 67, Number 222 (Monday, November 18, 2002)]
[Notices]
[Page 69554]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 02-29107]


-----------------------------------------------------------------------

DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT

[Docket No. FR-4572-D-29]


Revocation of Delegation of Authority to Execute Legal 
Instruments Pertaining to Section 312 Rehabilitation Loans

AGENCY: Office of the Secretary, HUD.

ACTION: Notice of revocation of delegation of authority.

-----------------------------------------------------------------------

SUMMARY: In this notice, the Secretary revokes the delegation of 
authority delegated 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.

EFFECTIVE DATE: May 22, 2002.

FOR FURTHER INFORMATION CONTACT: Mary Kolesar, Office of Affordable 
Housing Programs, Department of Housing and Urban Development, 451 7th 
Street, SW., Washington, DC 20410, telephone number (202) 708-2470 
(this is not a toll free number). This number may be accessed via TTY 
by calling the Federal Information Relay Service at 1-800-877-8339.

SUPPLEMENTARY INFORMATION: On May 28, 1997 (62 FR 28889), the Secretary 
delegated to the President, Ginnie Mae the authority to execute in the 
name of the Secretary certain 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 2 written 
instruments or documents related to, or necessary for, servicing or 
collection of a Section 312 loan, including any such instrument related 
to Section 312 loan servicing-related property management and 
disposition functions that were not delegated to the Assistant 
Secretary for Housing. The May 28, 1997 delegation of authority also 
authorized the President, Ginnie Mae, to redelegate this authority.
    This notice published in today's Federal Register revokes the 
delegation of authority to the President, Ginnie Mae, that was 
published on May 28, 1997 (62 FR 28889). This action is necessary 
because the Office of Community Planning and Development's Section 312 
loans have been sold and the Government National Mortgage Association 
(Ginnie Mae) is no longer involved in servicing Section 312 loans.
    Today's Federal Register notice does not affect delegations of 
authority to the Assistant Secretary for Community Planning and 
Development and to the Assistant Secretary for Housing--Federal Housing 
Commissioner.

    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. 3535(d).

    Dated: May 22, 2002.
Mel Martinez,
Secretary of Housing and Urban Development.
[FR Doc. 02-29107 Filed 11-15-02; 8:45 am]
BILLING CODE 4210-32-P