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for general expenses of administration insured depositories and to deposit of the land sales registration under and withdraw, or cause to be deposited such Act and make refunds of over- and withdrawn, funds in these acpayments of land sales registration counts. fees.
(dd) To reendorse, or cause to be 8 3.10 Director Accounting Division and reendorsed, for insurance under sec- Deputy. tion 222 eligible mortgages on single
To the position of Director, Accountfamily dwellings insured under other
ing Division, and under his general suhome mortgage sections of the Act, pervision to the position of Deputy Diwhere the mortgages have been as
rector, Accounting Division, there is sumed by eligible servicemen.
delegated the following basic author(ee) To approve or disapprove, or
ity and functions: cause to be approved or disapproved
(a) To direct the activities of the Acunder his direction, the settlement of
counting Division. mortgagees' applications for insurance
(b) To devise and establish accountbenefits without deduction from the
ing procedures and policies and to insurance benefits for losses occa
maintain official accounting records sioned by fire damage to home proper
for all activities of the Administration. ties or by fire and other hazards to
(c) To devise and establish procemultifamily properties, in accordance with the provisions of $9 203.379(b)
dures and policies and to maintain of.
ficial records for all home properties and 207.260(d), respectively, of the FHA regulations.
and mortgages held by the Secretary. (ff) To extend, or cause to be ex
(d) To provide technical advice and tended under his direction, the period
guidance to all organizational eleof time for assignment to the Secre
ments of the Administration in the tary of a mortgage on which the as
fields of accounting, including propersistance payment contract has been
ty and mortgage servicing accounting. terminated because of nonoccupancy
(e) To maintain liaison with the by the original mortgagor or qualified
General Accounting Office, Treasury purchaser.
Department and other agencies of the (gg) To approve or disapprove, or
Government on accounting matters cause to be approved or disapproved,
and to collaborate with such departcertificates of interest rate changes
ments and agencies in the formation submitted by mortgagees with respect
of accounting programs. to mortgages with flexible interest (f) To maintain liaison with the Govrates insured under section 236.
ernment National Mortgage Associa(hh) To establish and maintain, or
tion and other Government agencies cause to be established and main- on matters pertaining to the sale and tained under his direction, an account
insurance of Secretary-held mortfor the deposit of excess rental income gages. collected under section 236 of the Na- (g) To endorse mortgage notes for tional Housing Act.
insurance; to take any action neces(i) To prepare and execute, or cause sary to consummate the sale of Secreto be prepared and executed, certified tary-held mortgages to purchasers of statements of account on Secretary
such mortgages, and to execute the held home properties for the General satisfaction of Secretary-held mortCounsel as requested by the Depart- gages when the mortgage indebtedness ment of Justice.
has been paid in full. (jj) To execute, or cause to be exe- (h) To develop and maintain a procuted, agreements with mortgagors gram for the fiscal servicing of Secrethat provide for the deposit of the tary-held home mortgages including mortgagors' reserve for replacement the execution of vouchers for expendifunds in federally insured depositories tures from mortgagors' escrow acwhen the Secretary is the holder of a counts. multifamily mortgage; to open, or (1) To execute vouchers for payment cause to be opened, for this purpose of taxes on home properties where appropriate accounts with federally title is vested in the Secretary and for payment of excess proceeds to effect (n) To reserve or, as appropriate, final settlement with mortgagees on record all approved reservations of certificates of claim under provisions contract authority and to record and of the National Housing Act.
control all contractual obligations of (j) To act with the Comptroller and contract authority pertaining to assistunder his direction in the determina- ance payment contracts under section tion of basic policies on accounting 235; interest reduction contracts under and the fiscal servicing of home prop- section 236; contracts for debt man. erty and mortgage note accounts.
agement or counseling services under (k) With respect to the Appalachian
section 237; and contracts for rent sup. Housing Fund, pursuant to the Appa. plement payments, pursuant to seclachian Regional Development Act of
tion 101 of the Housing and Urban De1965. (1) To reserve or, as appropriate, ments thereto; and
velopment Act of 1965, and amendrecord all approved reservations of funds and to record and control all ob
(0) To establish and maintain an acligations of funds for loans under this
count for the deposit of fees collected fund.
under the Interstate Land Sales Full
Disclosure Act. (2) To disburse moneys in the fund for making loans to sponsors for devel.
(p) To prepare and execute certified opment of applications for commit
and notarized affidavits for the use of ments for project mortgages for
U.S. attorneys in presenting the fiscal projects under section 207 of such Act, status of Secretary-held mortgages at approved pursuant to section 223 of foreclosure trials. such Act, and for general expenses of (q) To establish and maintain an acadministration of section 207 of such
count for the deposit of excess rental Act; and
income collected under section 236 of (3) To collect the loan repayments the National Housing Act. and interest thereon, and to execute (r) To issue duplicate or corrective the satisfaction of the loan and trust mortgage Insurance certificates in agreements when the loan indebted- connection with mortgages insured ness has been paid in full or canceled. under the Government National Mort
(1) With respect to section 1013 of gage Association and/or Federal Nathe Demonstration Cities and Metro- tional Mortgage Association direct politan Development Act of 1966: To sales program. perform all fiscal duties and functions (s) To prepare and execute certified necessary to comply with the require- statements of account on Secretary. ments of the agreement entered into
held home properties for the General between the Department of Defense Counsel as requested by the Departand the Department of Housing and ment of Justice. Urban Development.
(m) With respect to the Low and 8 3.11 Director Insurance Division and Moderate Income Sponsor Fund, pur- Deputy. suant to section 106 of the Housing and Urban Development Act of 1968:
To the position of Director, Insur(1) To reserve or, as appropriate,
ance Division, and under his general record all approved reservations of supervision to the position of Deputy funds and to record and control all ob
Director, Insurance Division, there is ligations of funds for loans made delegated the following basic authorunder the fund;
ity and functions: (2) To disburse moneys in the fund
(a) To direct the activities of the Infor making loans, without interest, to
surance Division. nonprofit sponsors of housing for low- (b) To devise and maintain proce. and moderate-income families; and dures relating to the establishment of
(3) To collect the loan repayments mortgage insurance records, the modiand to execute the satisfaction of loan fication and termination of such insurand trust agreements when the loan ance for home and project mortgages indebtedness has been paid in full or and to register title I loans reported canceled.
(c) To provide fiscal and technical counts with federally insured deposiadvice and guidance with respect to tories and to deposit and withdraw mortgage modifications prior to ad. funds in these accounts. ministrative approval.
(d) To cancel the insurance endorse- $ 3.12 Director Fiscal Division and ment or the mortgage insurance certif- Deputy. icate on insured mortgages when a
To the position of Director, Fiscal joint request for termination is made
Division, and under his general superby the mortgagor and mortgagee, or
vision to the position of Deputy Direcwhen the insurance endorsement or
tor, Fiscal Division, there is delegated the mortgage insurance certificate is
the following basic authority and otherwise to be canceled.
functions: (e) To ascertain sufficiency of renewal and adjusted premium collec
(a) To direct the activities of the
Fiscal Division. tions with respect to termination of in
(b) To devise and establish fiscal surance; authorize enting the insurable loss sustained and to refund to
procedures and to administer the the remitter of record any collections
fiscal policies and activities of the Ad
ministration. obtained in excess of the established indebtedness.
(c) To approve all operating and (j) To act with the Comptroller and
property expenditures and receipt under his direction in the determina
vouchers necessary to carry out the tion of basic insurance fiscal servicing
provisions of the National Housing Act policy.
upon his determination that they are (k) To direct and supervise periodic
in accordance with applicable regulaportfolio examinations of institutions
tions, decisions, and laws. insured under the provisions of section
(d) To certify that all required docu2 of title I of the National Housing ments, information, and approvals Act.
with respect to operating and property (I) To execute satisfactions and re- expense and debenture transactions leases of Secretary-held mortgages
are present; to verify the accuracy of when the mortgage indebtedness has the computations and the consistency been paid in full.
of the information included in the var(m) To issue duplicate or corrective
ious documents; to determine that the mortgage insurance certificates.
transactions are in strict accordance (n) To exercise the authority of the
with all applicable regulations, deciAssistant Secretary-Commissioner to
sions and laws; to execute certificates endorse any preferred stock certificate
of claim; to certify requisitions to the held by him in any corporation for the
Treasury Department for the issuance purpose of retirement and cancella. of debentures, and to certify vouchers tion.
for cash settlement of applications for (0) To reendorse for insurance under insurance benefits. section 222 eligible mortgages on
(e) Το approve or disapprove single-family dwellings insured under amounts claimed by mortgagees in other home mortgage sections of the their applications for insurance beneAct, where the mortgages have been fits, including amounts for operating, assumed by eligible servicemen; and protecting, and preserving properties
(p) To approve or disapprove certifi- prior to conveyance to the Secretary. cates of interest rate changes submit- (f) To extend the period of time for ted by mortgagees with respect to submission of fiscal data or title evimortgages with flexible interest rates dence supporting a mortgagee's appliinsured under section 236.
cation for insurance benefits. (q) To execute agreements with (g) To maintain liaison with the mortgagors that provide for the depos- General Accounting Office, Treasury it of the mortgagors' reserve for re- Department and other agencies of the placement funds in federally insured Government on fiscal matters and to depositories when the Secretary is the collaborate with such departments holder of a multifamily mortgage; to and agencies in the formation of fiscal open for this purpose appropriate ac- programs.
(h) To act with the Comptroller and of land sales registration under such under his direction in the determina. Act and make refunds of overpay. tion of basic fiscal policy.
ments of land sales registration fees. (1) To make disbursements to mort- (0) To extend the period of time for gagees for assistance payments under assignment to the Secretary of a mortsection 235; interest reduction pay- gage on which the assistance payment ments under section 236; payments contract has been terminated because under contracts with public or private of nonoccupancy by the original mortorganizations to provide budget, debt
gagor or qualified purchaser. management, and related counseling services to mortgagors whose mort- 8 3.13 Director Procedures Division and gages are insured under section 237; Deputies. and payments to mortgagors under contracts for rent supplement pay
To the position of Director, Procements pursuant to section 101 of the
dures Division, and under his general Housing and Urban Development Act
supervision to the position of Deputy of 1965 and amendments thereto, and
Director for Accounting Systems with to process notices of termination of as
respect to paragraphs (a), (b), (f), (8), sistance payment contracts due to
(h), (i), and (j) of this section and to nonoccupancy by original mortgagors
the position of Deputy Director for or qualified purchasers or for other Automatic Data Processing with rereasons and collect any overpaid as- spect to paragraphs (c), (d), and (e) of sistance payments.
this section, there is delegated the fol(j) To be responsible for the collec- lowing basic authority and functions. tion, receipt, and deposit of all funds (a) To initiate, develop, and maincovering fees, premiums, and other tain an accounting systems and procecharges affecting FHA programs. dures program for the Administration.
(k) To approve or disapprove the set- (b) To coordinate and direct a protlement of mortgagees' applications gram to preserve or reconstruct basic for insurance benefits without deduc- records of the Administration for Civil tion from the insurance benefits for
Defense purposes and in the event of a losses occasioned by fire damage to national emergency. home properties or by fire and other
(c) To serve as a member of the De. hazards to multifamily properties, in
partmental ADP Services Manage. accordance with the provisions of
ment Advisory Committee. $$ 203.379(b) and 207.260(d), respec
(d) To advise the FHA Automatic tively, of the FHA regulations.
Data Management Board with respect (1) To approve or disapprove the pur
to data, information, and reports rechase of debentures submitted by mortgagees in connection with the
quirements of the Administration, recpayment of mortgage insurance premi.
ommending systems and procedures ums and adjusted premium charges.
for gathering the input data for proc(m) To endorse checks and other ne
essing by the Departmental Office of
ADP Systems Management and Oper gotiable instruments for deposit or col.
ations. lection; to endorse loss drafts relating to insurance coverage on Secretary
(e) To maintain liaison with the held home and project mortgages; to
Office of ADP Systems Management endorse checks and other negotiable
and Operations with respect to FHA instruments in order to perfect nego
fiscal and reporting operations. tiability for other parties at interest, (f) To prepare for the Assistant Secwhere the Secretary is not entitled to retary-Commissioner letters to FHA the proceeds of such instruments, re- approved mortgagees and lenders perlating applications for insurance bene. taining to fiscal and accounting procefits.
dures. (n) To deposit fees collected under (g) To provide advice within FHA the Interstate Land Sales Full Disclo concerning field office accounting, sure Act, and to make disbursements fiscal insurance servicing procedures, from appropriated funds and receipts assessability of fees, and the interprefor general expenses of administration tation of related procedures.
(h) To review for fiscal implications proposed agreements with other Government agencies establishing procedures pertaining to special purpose programs.
(i) To provide liaison service with the Treasury Department pertaining to depositary facilities for FHA field offices.
(j) To maintain archives files of the Administration. 8 3.14 Director, Financial Reports Divi.
sion, and Deputy. To the position of Director, Financial Reports Division, and under his general supervision to the position of Deputy Director, Financial Reports Division, there is delegated the following basic authority and functions:
(a) To direct the activities of the Fi. nancial Reports Division.
(b) To devise and establish basic policies, practices, and procedures with respect to the preparation, analysis, and interpretation of the financial statements and fiscal reports of the Administration, and to direct the preparation of such statements and reports.
(c) To maintain effective control over the management of the various FHA insurance funds and accounts and to provide adequate financial information pertaining thereto.
(d) To submit to the Treasury Department authorizations for purchase of U.S. Government securities, pursuant to agreements between mortgagors or other depositors and FHA, and sales and disposition of U.S. Government securities purchased for mortgagors or other depositors, received as a result of assignment of insured mortgages or as a result of other agreements; U.S. Government securities deposited in accordance with mortgagor corporate charters, regulatory or special agreements, for safekeeping; and requests for withdrawal of U.S. Government se. curities.
(e) To execute and certify vouchers in payment of U.S. Government securities invested for the various insurance funds and/or pursuant to agreements between mortgagors or other depositors and FHA.
(f) To execute and certify vouchers to provide funds in the account of the
Treasurer of the United States for payment of principal and interest on FHA debentures, for the repayment of borrowed funds and interest thereon, and for return to the Treasury Department of surplus funds arising out of operations of certain accounts.
(g) To execute and submit to the Treasury Department and/or to the Office of Management and Budget intergovernmental financial reports required by applicable statutes or regulations of the Treasury Department or Office of Management and Budget.
(h) To maintain liaison with the General Accounting Office, Treasury Department, and Office of Management and Budget on matters pertaining to financial activities, and with mortgagees concerning the acceptance of debentures in exchange for mortgages held by the Secretary.
(i) To act with the Comptroller and under his direction in the determination of basic financial management and reporting policy.
(j) To determine the present and future cash requirements of the various insurance funds and accounts, and to recommend investment, borrowing, and repayment transactions.
(k) To prepare certifications to Department of Defense, National Aeronautics and Space Administration, and Atomic Energy Commission of operating losses incurred by FHA under Armed Services Housing Insurance programs as provided for in agreements.
(1) To recommend liquidation of investments and redemption of debentures; to execute assignments in connection with the redemption of debentures held for the account of the FHA insurance funds or received in exchange for acquired security; and to maintain liaison with the Treasury Department in the execution of fiscal proposals.
PART 4-PROHIBITION OF ADVANCE DISCLOSURE OF FUNDING DECISIONS
Subpart A-General Provisions Sec. 4.1 Purpose. 4.5 Definitions. 4.10 Scope.