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for general expenses of administration of the land sales registration under such Act and make refunds of overpayments of land sales registration fees.

(dd) To reendorse, or cause to be reendorsed, for insurance under section 222 eligible mortgages on singlefamily dwellings insured under other home mortgage sections of the Act, where the mortgages have been assumed by eligible servicemen.

(ee) To approve or disapprove, or cause to be approved or disapproved under his direction, the settlement of mortgagees' applications for insurance benefits without deduction from the insurance benefits for losses occasioned by fire damage to home properties or by fire and other hazards to multifamily properties, in accordance with the provisions of §§ 203.379(b) and 207.260(d), respectively, of the FHA regulations.

(ff) To extend, or cause to be extended under his direction, the period of time for assignment to the Secretary of a mortgage on which the assistance payment contract has been terminated because of nonoccupancy by the original mortgagor or qualified purchaser.

(gg) To approve or disapprove, or cause to be approved or disapproved, certificates of interest rate changes submitted by mortgagees with respect to mortgages with flexible interest rates insured under section 236.

(hh) To establish and maintain, or cause to be established and maintained under his direction, an account for the deposit of excess rental income collected under section 236 of the National Housing Act.

(ii) To prepare and execute, or cause to be prepared and executed, certified statements of account on Secretaryheld home properties for the General Counsel as requested by the Department of Justice.

(jj) To execute, or cause to be executed, agreements with mortgagors that provide for the deposit of the mortgagors' reserve for replacement funds in federally insured depositories when the Secretary is the holder of a multifamily mortgage; to open, or cause to be opened, for this purpose appropriate accounts with federally

insured depositories and to deposit and withdraw, or cause to be deposited and withdrawn, funds in these accounts.

§ 3.10 Director Accounting Division and Deputy.

To the position of Director, Accounting Division, and under his general supervision to the position of Deputy Director, Accounting Division, there is delegated the following basic authority and functions:

(a) To direct the activities of the Accounting Division.

(b) To devise and establish accounting procedures and policies and to maintain official accounting records for all activities of the Administration.

(c) To devise and establish procedures and policies and to maintain official records for all home properties and mortgages held by the Secretary.

(d) To provide technical advice and guidance to all organizational elements of the Administration in the fields of accounting, including property and mortgage servicing accounting.

(e) To maintain liaison with the General Accounting Office, Treasury Department and other agencies of the Government on accounting matters and to collaborate with such departments and agencies in the formation of accounting programs.

(f) To maintain liaison with the Government National Mortgage Association and other Government agencies on matters pertaining to the sale and insurance of Secretary-held mortgages.

(g) To endorse mortgage notes for insurance; to take any action necessary to consummate the sale of Secretary-held mortgages to purchasers of such mortgages, and to execute the satisfaction of Secretary-held mortgages when the mortgage indebtedness has been paid in full.

(h) To develop and maintain a program for the fiscal servicing of Secretary-held home mortgages including the execution of vouchers for expenditures from mortgagors' escrow accounts.

(i) To execute vouchers for payment of taxes on home properties where title is vested in the Secretary and for

payment of excess proceeds to effect final settlement with mortgagees on certificates of claim under provisions of the National Housing Act.

(j) To act with the Comptroller and under his direction in the determination of basic policies on accounting and the fiscal servicing of home property and mortgage note accounts.

(k) With respect to the Appalachian Housing Fund, pursuant to the Appalachian Regional Development Act of

1965.

(1) To reserve or, as appropriate, record all approved reservations of funds and to record and control all obligations of funds for loans under this fund.

(2) To disburse moneys in the fund for making loans to sponsors for development of applications for commitments for project mortgages for projects under section 207 of such Act, approved pursuant to section 223 of such Act, and for general expenses of administration of section 207 of such Act; and

(3) To collect the loan repayments and interest thereon, and to execute the satisfaction of the loan and trust agreements when the loan indebtedness has been paid in full or canceled.

(1) With respect to section 1013 of the Demonstration Cities and Metropolitan Development Act of 1966: To perform all fiscal duties and functions necessary to comply with the requirements of the agreement entered into between the Department of Defense and the Department of Housing and Urban Development.

(m) With respect to the Low and Moderate Income Sponsor Fund, pursuant to section 106 of the Housing and Urban Development Act of 1968:

(1) To reserve or, as appropriate, record all approved reservations of funds and to record and control all obligations of funds for loans made under the fund;

(2) To disburse moneys in the fund for making loans, without interest, to nonprofit sponsors of housing for lowand moderate-income families; and

(3) To collect the loan repayments and to execute the satisfaction of loan and trust agreements when the loan indebtedness has been paid in full or canceled.

(n) To reserve or, as appropriate, record all approved reservations of contract authority and to record and control all contractual obligations of contract authority pertaining to assistance payment contracts under section 235; interest reduction contracts under section 236; contracts for debt management or counseling services under section 237; and contracts for rent supplement payments, pursuant to section 101 of the Housing and Urban Development Act of 1965, and amendments thereto; and

(0) To establish and maintain an account for the deposit of fees collected under the Interstate Land Sales Full Disclosure Act.

(p) To prepare and execute certified and notarized affidavits for the use of U.S. attorneys in presenting the fiscal status of Secretary-held mortgages at foreclosure trials.

(q) To establish and maintain an account for the deposit of excess rental income collected under section 236 of the National Housing Act.

(r) To issue duplicate or corrective mortgage Insurance certificates in connection with mortgages insured under the Government National Mortgage Association and/or Federal National Mortgage Association direct sales program.

(s) To prepare and execute certified statements of account on Secretaryheld home properties for the General Counsel as requested by the Department of Justice.

§3.11 Director Insurance Division and Deputy.

To the position of Director, Insurance Division, and under his general supervision to the position of Deputy Director, Insurance Division, there is delegated the following basic authority and functions:

(a) To direct the activities of the Insurance Division.

(b) To devise and maintain procedures relating to the establishment of mortgage insurance records, the modification and termination of such insurance for home and project mortgages and to register title I loans reported for insurance.

(c) To provide fiscal and technical advice and guidance with respect to mortgage modifications prior to administrative approval.

(d) To cancel the insurance endorsement or the mortgage insurance certificate on insured mortgages when a joint request for termination is made by the mortgagor and mortgagee, or when the insurance endorsement or the mortgage insurance certificate is otherwise to be canceled.

(e) To ascertain sufficiency of renewal and adjusted premium collections with respect to termination of insurance; authorize enting the insurable loss sustained and to refund to the remitter of record any collections obtained in excess of the established indebtedness.

(j) To act with the Comptroller and under his direction in the determination of basic insurance fiscal servicing policy.

(k) To direct and supervise periodic portfolio examinations of institutions insured under the provisions of section 2 of title I of the National Housing Act.

(1) To execute satisfactions and releases of Secretary-held mortgages when the mortgage indebtedness has been paid in full.

(m) To issue duplicate or corrective mortgage insurance certificates.

(n) To exercise the authority of the Assistant Secretary-Commissioner to endorse any preferred stock certificate held by him in any corporation for the purpose of retirement and cancellation.

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(0) To reendorse for insurance under section 222 eligible mortgages single-family dwellings insured under other home mortgage sections of the Act, where the mortgages have been assumed by eligible servicemen; and

(p) To approve or disapprove certificates of interest rate changes submitted by mortgagees with respect to mortgages with flexible interest rates insured under section 236.

(q) To execute agreements with mortgagors that provide for the deposit of the mortgagors' reserve for replacement funds in federally insured depositories when the Secretary is the holder of a multifamily mortgage; to open for this purpose appropriate ac

counts with federally insured depositories and to deposit and withdraw funds in these accounts.

§3.12 Director Fiscal Division and Deputy.

To the position of Director, Fiscal Division, and under his general supervision to the position of Deputy Director, Fiscal Division, there is delegated the following basic authority and functions:

(a) To direct the activities of the Fiscal Division.

(b) To devise and establish fiscal procedures and to administer the fiscal policies and activities of the Administration.

(c) To approve all operating and property expenditures and receipt vouchers necessary to carry out the provisions of the National Housing Act upon his determination that they are in accordance with applicable regulations, decisions, and laws.

(d) To certify that all required documents, information, and approvals with respect to operating and property expense and debenture transactions are present; to verify the accuracy of the computations and the consistency of the information included in the various documents; to determine that the transactions are in strict accordance with all applicable regulations, decisions and laws; to execute certificates of claim; to certify requisitions to the Treasury Department for the issuance of debentures; and to certify vouchers for cash settlement of applications for insurance benefits.

(e) To approve or disapprove amounts claimed by mortgagees in their applications for insurance benefits, including amounts for operating, protecting, and preserving properties prior to conveyance to the Secretary.

(f) To extend the period of time for submission of fiscal data or title evidence supporting a mortgagee's application for insurance benefits.

(g) To maintain liaison with the General Accounting Office, Treasury Department and other agencies of the Government on fiscal matters and to collaborate with such departments and agencies in the formation of fiscal programs.

(h) To act with the Comptroller and under his direction in the determination of basic fiscal policy.

(i) To make disbursements to mortgagees for assistance payments under section 235; interest reduction payments under section 236; payments under contracts with public or private organizations to provide budget, debt management, and related counseling services to mortgagors whose mortgages are insured under section 237; and payments to mortgagors under contracts for rent supplement payments pursuant to section 101 of the Housing and Urban Development Act of 1965 and amendments thereto, and to process notices of termination of assistance payment contracts due to nonoccupancy by original mortgagors or qualified purchasers or for other reasons and collect any overpaid assistance payments.

(j) To be responsible for the collection, receipt, and deposit of all funds covering fees, premiums, and other charges affecting FHA programs.

(k) To approve or disapprove the settlement of mortgagees' applications for insurance benefits without deduction from the insurance benefits for losses occasioned by fire damage to home properties or by fire and other hazards to multifamily properties, in accordance with the provisions of §§ 203.379(b) and 207.260(d), respectively, of the FHA regulations.

(1) To approve or disapprove the purchase of debentures submitted by mortgagees in connection with the payment of mortgage insurance premiums and adjusted premium charges.

(m) To endorse checks and other negotiable instruments for deposit or collection; to endorse loss drafts relating to insurance coverage on Secretaryheld home and project mortgages; to endorse checks and other negotiable instruments in order to perfect negotiability for other parties at interest, where the Secretary is not entitled to the proceeds of such instruments, relating applications for insurance benefits.

(n) To deposit fees collected under the Interstate Land Sales Full Disclosure Act, and to make disbursements from appropriated funds and receipts for general expenses of administration

of land sales registration under such Act and make refunds of overpayments of land sales registration fees.

(0) To extend the period of time for assignment to the Secretary of a mortgage on which the assistance payment contract has been terminated because of nonoccupancy by the original mortgagor or qualified purchaser.

§3.13 Director Procedures Division and Deputies.

To the position of Director, Procedures Division, and under his general supervision to the position of Deputy Director for Accounting Systems with respect to paragraphs (a), (b), (f), (g), (h), (i), and (j) of this section and to the position of Deputy Director for Automatic Data Processing with respect to paragraphs (c), (d), and (e) of this section, there is delegated the following basic authority and functions.

(a) To initiate, develop, and maintain an accounting systems and procedures program for the Administration.

(b) To coordinate and direct a program to preserve or reconstruct basic records of the Administration for Civil Defense purposes and in the event of a national emergency.

(c) To serve as a member of the Departmental ADP Services Management Advisory Committee.

(d) To advise the FHA Automatic Data Management Board with respect to data, information, and reports requirements of the Administration, recommending systems and procedures for gathering the input data for processing by the Departmental Office of ADP Systems Management and Operations.

(e) To maintain liaison with the Office of ADP Systems Management and Operations with respect to FHA fiscal and reporting operations.

(f) To prepare for the Assistant Secretary-Commissioner letters to FHA approved mortgagees and lenders pertaining to fiscal and accounting procedures.

(g) To provide advice within FHA concerning field office accounting, fiscal insurance servicing procedures, assessability of fees, and the interpretation of related procedures.

Office of the Secretary, HUD

(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.

§3.14 Director, Financial Reports Division, 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 Financial 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 securities.

(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.

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