[Federal Register Volume 77, Number 119 (Wednesday, June 20, 2012)]
[Notices]
[Pages 37237-37240]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2012-15067]
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DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT
[Docket No. FR-5557-D-03]
Delegations of Authority for the Office of Housing--Federal
Housing Administration (FHA), Redelegation of Authority to the Deputy
Assistant Secretary for Finance and Budget
AGENCY: Office of the Assistant Secretary for Housing--Federal Housing
Commissioner, HUD.
ACTION: Notice of revocation and redelegation of authority.
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SUMMARY: On September 15, 2006, the Assistant Secretary for Housing--
Federal Housing Commissioner and the General Deputy Assistant Secretary
for Housing--Deputy Federal Housing Commissioner issued a comprehensive
redelegation of authority to the Deputy Assistant Secretary for the
Office of Finance and Budget. This redelegation of authority was
published on October 12, 2006. Today's notice, with minor edits,
updates and republishes in its entirety the redelegation of authority
to Office of Finance and Budget.
DATES: Effective Date: June 5, 2012.
FOR FURTHER INFORMATION CONTACT: Office of the Associate General Deputy
Assistant Secretary for Housing--Federal Housing Commissioner,
Department of Housing and Urban Development, 451 Seventh Street SW.,
Room 9110, Washington, DC 20410-8000, phone 202-708-2601. (This is not
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a toll-free number.) Persons with hearing or speech impairments may
access this number through TTY by calling the toll-free Federal Relay
Service at 800-877-8339.
SUPPLEMENTARY INFORMATION: Section I of this document describes the
organization and functions of the Office of Finance and Budget. That
organization has not undergone major change since the October 12, 2006
(71 FR 60165), publication of the previous redelegation of authority to
Office of Finance and Budget, with the exception that the Office of
Evaluation has been moved under the jurisdiction of the Deputy
Assistant Secretary for Risk Management and Regulatory Affairs.
Therefore this publication does not include the Office of Evaluation
within the Finance and Budget Organization.
Section II of this notice describes the authority redelegated to
the Deputy Assistant Secretary for Finance and Budget and the Associate
Deputy Assistant Secretary for Finance and Budget. With the exception
of the addition of the position of Associate Deputy Assistant Secretary
for Finance and Budget and certain minor editorial changes, these
redelegations remain substantively the same as those published in the
October 12, 2006, notice.
Section I. Deputy Assistant Secretary for Finance and Budget:
Organization
Three offices report to the Deputy Assistant Secretary for Finance
and Budget. These are the (1) Office of Budget and Field Resources; (2)
Office of Asset Sales; and (3) Office of the Housing--FHA Comptroller.
The following is a brief summary of each of these offices' functions.
A. The Office of Budget and Field Resources
The Office of Budget and Field Resources is responsible for the
formulation, presentation, and execution of the Office of Housing's
program and administrative budgets. This includes fund assignments and
funds control, financial resource management, coordination of financial
resources in support of field operations, and budget analysis and
reporting. The Office of Budget and Field Resources is responsible for
analyzing and evaluating the financial and budgetary impact of new or
revised Office of Housing programs and policies, proposed legislation,
and new or revised OMB, GAO, or Treasury guidance. Finally, the
Director of the Office of Budget and Field Resources is Housing's Funds
Control Officer. The responsibilities and duties of personnel within
the Office of Budget and Field Resources pertain to internal HUD
matters, do not require rendering decisions that bind HUD in relation
to external clients and customers and, therefore, do not require
delegations of authority.
B. Office of Asset Sales
The Office of Asset Sales oversees the disposition of mortgage
notes acquired by Housing upon a default by the mortgagor and
assignment of the note to FHA in return for the payment of a claim. The
Office of Asset Sales is responsible for the sale of single family,
multifamily, nursing home and hospital notes in the manner most
advantageous to the federal government and supportive of the mission of
the agency. The Office of Asset Sales develops alternative disposition
methods that will reduce the acquisition and holding costs of these
assets while increasing recovery upon sale.
C. Office of the Housing--FHA Comptroller
The Office of the Housing--FHA Comptroller is a Headquarters
operation. The Office of the Housing-FHA Comptroller contains one field
component, the Financial Operations Center, located in Albany, New
York, and three major offices in Washington, DC
(1) The Office of Financial Service. The Office of Financial
Services is comprised of three Headquarters divisions, and one field
component, the Financial Operations Center, which is located in Albany,
New York. The Office of Financial Services provides the policy
direction, review, and coordination required to collect mortgage
insurance premiums, to provide the financial services required to
support FHA's multibillion dollar Single Family, Multifamily, and Title
I insurance portfolios, and to provide the financial support necessary
to manage FHA's asset management and disposition programs. The Office
of Financial Services collects and maintains financial data necessary
to generate accurate accounting entries to the General and Subsidiary
ledgers and FHA's financial statements. The Office of Financial
Services supports the systems and staff needed to maintain the
insurance operations for FHA programs. The Office of Financial Services
provides policy guidance and oversight for FHA's debt management and
due diligence activities in the Financial Operations Center and
supports FHA's asset sales programs. A summary of the functions of each
division and of the Financial Operations Center follows:
(a) The Single Family Insurance Operations Division. This Division
is responsible for providing financial management services to FHA
approved lenders that originate and/or service FHA Single Family
insured mortgages. The Single Family Insurance Operations Division
maintains insurance records for approximately 32 million active or
terminated Single Family FHA-insured loans. The Single Family Insurance
Operations Division collects the mortgage insurance premiums and
processes refunds of overpayments and unearned mortgage insurance
premiums.
(b) The Single Family Post Insurance Division. This Division is
responsible for providing processing functions necessary to support the
FHA single family asset acquisition, management, and disposition
operations. The Single Family Post Insurance Division directs and
coordinates all operating requirements, systems development, and
reporting functions requirements for its areas of responsibility. The
Single Family Post Insurance Division provides servicing support,
claims processing, and asset disposition processing. It also provides
contractor oversight as appropriate.
(c) The Multifamily Financial Operations Division. This Division is
responsible for performing the financial management services necessary
for the servicing of all multifamily, insured mortgages in the FHA
portfolio and the support of the approved lenders that hold FHA-insured
mortgages. The Multifamily Financial Operations Division is also
responsible for the servicing of HUD-held Multifamily mortgages and the
payment of claims for Multifamily defaulted mortgages. These
responsibilities include collection of insurance premiums, management
of escrow accounts, payments of preservation and protection expenses,
and recording of mortgage satisfactions.
(d) The Financial Operations Center. The Financial Operations
Center (Center) is responsible for providing policy guidance, system
support, and general oversight of FHA debt management, collection, and
due diligence/asset liquidation activities for FHA Assets not elsewhere
administered. The Center is responsible for all financial servicing
duties in connection with administering the FHA Title I loan program.
(2) The Office of Financial Analysis and Reporting. The Office of
Financial Analysis and Reporting is comprised of three Headquarters
Divisions. The Office of Financial Analysis and Reporting (OFAR) is
responsible for FHA financial management and
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reporting as well as providing policy direction, review, and
coordination of the budgetary and accounting responsibilities for the
Office of Housing-FHA Comptroller. OFAR accumulates, summarizes, and
reconciles all of the FHA transactions received from more than 15
subsidiary (feeder) systems that capture the Single Family,
Multifamily, HECM and Title I insurance activities. OFAR also is
responsible for maintaining FHA's internal control framework as well as
monitoring budget execution to ensure obligations and expenditures do
not exceed authorized levels. OFAR consolidates all of these activities
for presentation in FHA's Annual Management Report. In addition, OFAR
oversees cash management functions and FHA investments. A description
of the three divisions' functions follows.
(a) Financial Analysis and Controls Division. This Division is
responsible for developing financial control procedures, performing
financial analysis of accounting information, and monitoring and
controlling the FHA budget execution process. It also is responsible
for managing subsidy flows and borrowings to include borrowing needs,
repayments and interest calculations.
(b) General Ledger Division. This Division is responsible for the
preparation of all the cash accounting, proprietary accounting, and
budgetary accounting entries that update the FHA general ledger. This
includes all daily transactions and adjusting entries at the end of
each accounting period, including entries required by Credit Reform and
budgetary accounting.
(c) The Financial Reporting Division. This Division is responsible
for accounting and financial reporting activities for FHA programs. The
division classifies, summarizes, analyzes and reports accounting and
budgetary transactions for FHA activities. In addition, the division
prepares financial reports as required by the Department of Treasury
and the Office of Management and Budget and provides guidance and
interpretation of guidelines and standards set forth by the Department
of Treasury, the Office of Management and Budget and other government
agencies. The Division monitors and prepares responses to financial
audits and performs certain liaison functions in connection with
program audits. (Audits may be performed by both internal and external
agencies.)
(3) Office of Systems and Technology. The Office of Systems and
Technology coordinates the development and maintenance of integrated
financial and management information systems necessary for accounting
and management of the Housing and FHA programs.
Section II. Redelegations to the Office of the Deputy Assistant
Secretary for Finance and Budget
The Assistant Secretary for Housing, General Deputy Assistant
Secretary for Housing, and the Associate General Deputy Assistant
Secretary for Housing redelegate program authority in broad terms to
the Deputy Assistant Secretary for Finance and Budget and the Associate
Deputy Assistant Secretary for Finance and Budget. In addition, the
Housing-FHA Comptroller, who reports to the Deputy Assistant Secretary
for Finance and Budget, is redelegated concurrent authority, with that
of the Deputy Assistant Secretary for Finance and Budget and the
Associate Deputy Assistant Secretary for Finance and Budget, to oversee
the FHA financial operations and other Office of Housing activities.
The general functions and a brief description of the authority
redelegated are as follows:
A. General Authority
Authority is redelegated to the Deputy Assistant Secretary for
Finance and Budget and to the Associate Deputy Assistant Secretary for
Finance and Budget to sign any and all documents necessary to carry out
the business of the Office of Finance and Budget, including oversight
of FHA financial operations. In addition, authority is redelegated to
the Housing-FHA Comptroller to sign any and all documents necessary to
carry out the oversight of FHA financial operations. In concert with
the specific authorities redelegated to each of them, the Deputy
Assistant Secretary for Finance and Budget, the Associate Deputy
Assistant Secretary for Finance and Budget and the Housing-FHA
Comptroller, in considering a transaction, are also redelegated
authority to waive any directives not mandated by statute or
regulation, for good cause and with a written justification.
B. Oversight of Financial Operations
The Deputy Assistant Secretary for Finance and Budget and the
Associate Deputy Assistant Secretary for Finance and Budget are
redelegated such authority as is necessary to oversee the financial
management and operations of Office of Housing programs. The FHA
Comptroller, who reports to the Deputy Assistant Secretary for Finance
and Budget, is responsible for overseeing the financial operations of
the FHA.
C. Investment of Surplus Funds
The Deputy Assistant Secretary for Finance and Budget and the
Associate Deputy Assistant Secretary for Finance and Budget are
redelegated authority to invest FHA funds in certain specified types of
accounts, e.g., U.S. Treasury securities.
D. Borrowing from the U.S. Treasury
The Deputy Assistant Secretary for Finance and Budget and the
Associate Deputy Assistant Secretary for Finance and Budget are
redelegated authority to borrow from the U.S. Treasury such funds as
necessary to maintain a positive cash flow in the various FHA insurance
funds.
E. Administration of the FHA Title I Loans
The Deputy Assistant Secretary for Finance and Budget and the
Associate Deputy Assistant Secretary for Finance and Budget are
redelegated the authority to perform such duties as are necessary to
carry out the financial functions of the FHA Title I Program.
F. Administration of the FHA Title II Insured Loans
The Deputy Assistant Secretary for Finance and Budget and the
Associate Deputy Assistant Secretary for Finance and Budget are
redelegated the authority to perform such actions as may be necessary
to carry out the financial functions of all FHA Title II insured loans.
G. Payment of FHA Claims
The Deputy Assistant Secretary for Finance and Budget and the
Associate Deputy Assistant Secretary for Finance and Budget are
redelegated such authority to perform such actions as may be necessary
to make FHA claim payments. These duties include but are not limited to
determining the appropriate amount of benefits to be paid, making
appropriate certifications for payments issued in debentures and/or
cash, extending requisite time periods for a lender's submission of
financial claim documentation, and collecting, through administrative
offset, any indebtedness due HUD.
H. Servicing of HUD-Held Loans
The Deputy Assistant Secretary for Finance and Budget and the
Associate Deputy Assistant Secretary for Finance and Budget are
redelegated the authority to perform such duties as are necessary to
carry out the financial responsibilities for HUD-held notes and
properties including but not limited to collecting mortgage payments,
ensuring the protection and preservation of
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collateral, establishing and directing the use of funds in escrow
accounts, and executing appropriate legal documents upon payment-in-
full of a mortgage.
I. Liaison With the U.S. Treasury Department
The Deputy Assistant Secretary for Finance and Budget and the
Associate Deputy Assistant Secretary for Finance and Budget are
redelegated such authority as is necessary to process and effect such
transactions with the U.S. Treasury as may be required in the normal
operation of FHA operations.
J. Sale of Secretary-Held Mortgages
The Deputy Assistant Secretary for Finance and Budget and the
Associate Deputy Assistant Secretary for Finance and Budget are
redelegated such authority as is necessary to sell Secretary-held
mortgages.
K. Management of HUD-Held Mortgages, Notes, and HUD-Owned Properties
The Deputy Assistant Secretary for Finance and Budget and the
Associate Deputy Assistant Secretary for Finance and Budget are
redelegated such authority as is necessary to make disbursements on
HUD-owned or managed properties for the payment of property-related
expenses, including property taxes, utility bills, property management
fees, etc.
L. Source Selection Official
The Deputy Assistant Secretary for Finance and Budget and the
Associate Deputy Assistant Secretary for Finance and Budget are
redelegated authority to perform all functions of a source selection
official.
Section III. Further Redelegations
The authority redelegated by the Assistant Secretary for Housing-
Federal Housing Commissioner, the General Deputy Assistant Secretary-
Deputy Federal Housing Commissioner and the Associate General Deputy
Assistant Secretary for Housing to the Deputy Assistant Secretary for
Finance and Budget and the Associate Deputy Assistant Secretary for
Finance and Budget may be redelegated. The Housing-FHA Comptroller may
not redelegate the authority redelegated herein.
Section IV. Authority Excepted
The authority redelegated in Section II does not include the
authority to issue or waive regulations under the program jurisdiction
of the Assistant Secretary for Housing.
Section V. Revocation of Delegations
The Assistant Secretary for Housing-Federal Housing Commissioner or
the General Deputy Assistant Secretary for Housing-Deputy Federal
Housing Commissioner or the Associate General Deputy Assistant
Secretary for Housing may, at any time, revoke any of the authority
redelegated herein. Notice of any revocation will be published in the
Federal Register. This redelegation of authority supersedes all prior
redelegations of authority to staff in the Office of Finance and
Budget.
Authority: Section 7(d), Department of Housing and Urban
Development Act, 42 U.S.C. 3535(d).
Dated: June 5, 2012.
Carol J. Galante,
Acting Assistant Secretary for Housing--Federal Housing Commissioner.
[FR Doc. 2012-15067 Filed 6-19-12; 8:45 am]
BILLING CODE 4210-67-P