HUD Notice 75 FR 16163 Notice of FHA Debenture Call
April 1st, 2010
The U.S. Department of Housing and Urban Development (HUD) has issued Notice 75 FR 16163 titled,
Notice of FHA Debenture Call.
75 FR 16163: NOTICE OF FHA DEBENTURE CALL (03/31/10)
SUMMARY: This Notice announces a debenture recall of certain Federal Housing Administration (FHA) debentures, in accordance with authority provided in the National Housing Act.
FOR FURTHER INFORMATION CONTACT: Yong Sun, FHA Financial Reporting Division, Department of Housing and Urban Development, 451 Seventh Street, SW., Room 5148, Washington, DC 20410, telephone (202) 402-4778. This is not a toll-free number.
SUPPLEMENTARY INFORMATION: Pursuant to section 207(j) of the National Housing Act, 12 U.S.C. 1713(j), and in accordance with HUD’s regulation at 24 CFR 207.259(e)(3), the Assistant Secretary for Housing—Federal Housing Commissioner, with the approval of the Secretary of the Treasury, announces the call of all FHA debentures, with a coupon rate of 5 percent or above, except for those debentures subject to "debenture lock agreements," that have been registered on the books of the Bureau of the Public Debt, Department of the Treasury, and are, therefore, "outstanding" as of March 31, 2010. The date of the call is July 1, 2010.
The debentures will be redeemed at par plus accrued interest. Interest will cease to accrue on the debentures as of the call date. At redemption, final interest on any called debentures will be paid along with the principal. Payment of final principal and interest due on July 1, 2010 will be made automatically to the registered holder.
During the period from the date of this notice to the call date, debentures that are subject to the call may not be used by the mortgagee for a special redemption purchase in payment of a mortgage insurance premium.
No transfer of debentures covered by the foregoing call will be made on the books maintained by the Treasury Department on or after June 14, 2010. This debenture call does not affect the right of the holder of a debenture to sell or assign the debenture on or after this date.
Dated: February 22, 2010.
David H. Stevens,
Assistant Secretary for Housing—Federal Housing Commissioner.
[FR Doc. 2010–7096 Filed 3–30–10; 8:45 am]
BILLING CODE 4210–67–P
To view the online Notice, please click here
About Safeguard
Safeguard Properties is the largest privately held field services company in the country. Located in Cleveland, Ohio and founded in 1990 by Robert Klein, Safeguard has grown from a regional preservation company with a few employees and a handful of contractors performing services in the Midwest, to a national company with over 700 employees. Safeguard is supported by a nationwide network of subcontractors able to perform any requested superintendence, preservation, and maintenance functions, as well as numerous ancillary services in the U.S., the Virgin Islands, and Puerto Rico.