67388 Federal Register / Vol. 75, No. 211 / Tuesday, November 2, 2010 / Notices 

Mortgagee name Mortgagee branch address HUD office jurisdictions Termination 

effective date 

Homeownership 

centers 

Nationwide Home 

Loans, Inc..

4100 NE 2nd Ave., Miami, FL 33137 ......... Miami ......................................... 9/9/2010 Atlanta. 

Access National Mortgage Corp..1800 Robert Fulton Dr., Ste 350, Reston, 

VA 20191–4346.

Richmond .................................. 9/2/2010 Philadelphia. 

BJV Financial Bank 

Services, Inc..

7221 W. Touhy Ave., Chicago, IL 60631 ... Chicago ..................................... 8/11/2010 Atlanta. 

Globe Mortgage 

America LLC.

475 Grand Ave. Englewood, NJ 07631 ..... Newark ...................................... 8/11/2010 Philadelphia. 

D and R Mortgage 

Corp..

29870 Middlebelt Rd., Ste 100, Farmington Hills, MI 48334.Atlanta ....................................... 8/1/2010 Atlanta. 

Dominion First Mortgage Corp..9970 Liberia Ave., Manassas, VA 20110 ... Richmond .................................. 8/1/2010 Philadelphia. 

Omni Capital Group 

LLC.

6855 S. Havana St., Ste 500, Centennial, 

CO 80112.

Denver ....................................... 8/1/2010 Denver. 

Q Financial Direct, 

Inc..

3155 NW 82nd Ave., Ste 200, Doral, FL 

33122.

Miami ......................................... 8/1/2010 Atlanta. 

Dated: October 22, 2010. 

David H. Stevens, 

Assistant Secretary for Housing—Federal 

Housing Commissioner. 

[FR Doc. 2010–27548 Filed 11–1–10; 8:45 am] 

BILLING CODE 4210–67–P 

DEPARTMENT OF HOUSING AND 

URBAN DEVELOPMENT 

[Docket No. FR–5411–N–06] 

Credit Watch Termination Initiative; 

Termination of Direct Endorsement 

(DE) Approval 

AGENCY: Office of the Assistant 

Secretary for Housing—Federal Housing 

Commissioner, HUD. 

ACTION: Notice. 

SUMMARY: This notice advises of the 

cause and effect of termination of Direct 

Endorsement (DE) Approval taken by 

HUD’s Federal Housing Administration 

(FHA) against HUD-approved 

mortgagees through the FHA Credit 

Watch Termination Initiative. This 

notice includes a list of mortgagees 

which have had their DE Approval 

terminated. 

FOR FURTHER INFORMATION CONTACT: The 

Quality Assurance Division, Office of 

Housing, Department of Housing and 

Urban Development, 451 Seventh Street, 

SW., Room B133–P3214, Washington, 

DC 20410–8000; telephone (202) 708– 

2830 (this is not a toll-free number). 

Persons with hearing or speech 

impairments may access that number 

through TTY by calling the Federal 

Information Relay Service at (800) 877– 

8339. 

SUPPLEMENTARY INFORMATION: HUD has 

the authority to address deficiencies in 

the performance of lenders’ loans as 

provided in HUD’s mortgagee approval 

regulations at 24 CFR 202.3. On May 17, 

1999 HUD published a notice (64 FR 

26769), on its procedures for 

terminating Origination Approval 

Agreements with FHA lenders and 

placement of FHA lenders on Credit 

Watch status (an evaluation period). In 

the May 17, 1999 notice, HUD advised 

that it would publish in the Federal 

Register a list of mortgagees, which 

have had their Approval Agreements 

terminated. On January 21, 2010 HUD 

issued Mortgagee Letter 2010–03 which 

advised the extended procedures for 

terminating Underwriting Authority of 

Direct Endorsement mortgagees. 

Termination of Direct Endorsement 

Approval: Approval of a DE mortgagee 

by HUD/FHA authorizes the mortgagee 

to underwrite single family mortgage 

loans and submit them to FHA for 

insurance endorsement. The Approval 

may be terminated on the basis of poor 

performance of FHA-insured mortgage 

loans underwritten by the mortgagee. 

The termination of a mortgagee’s DE 

Approval is separate and apart from any 

action taken by HUD’s Mortgagee 

Review Board under HUD’s regulations 

at 24 CFR part 25. 

Cause: HUD’s regulations permit HUD 

to terminate the DE Approval with any 

mortgagee having a default and claim 

rate for loans endorsed within the 

preceding 24 months that exceeds 300 

percent of the default and claim rate 

within the geographic area served by a 

HUD field office, and also exceeds the 

national default and claim rate. For 

quarterly review period ending March 

31, 2010, HUD is terminating the DE 

Approval of mortgagees whose default 

and claim rate exceeds both the national 

rate and 300 percent of the field office 

rate. 

Effect: Termination of the DE 

Approval precludes the mortgagee from 

underwriting FHA-insured single-family 

mortgages within the area of the HUD 

field office(s) listed in this notice. 

Mortgagees authorized to purchase, 

hold, or service FHA insured mortgages 

may continue to do so. 

Loans that closed or were approved 

before the Termination became effective 

may be submitted for insurance 

endorsement. Approved loans are those 

already underwritten and approved by a 

DE underwriter, and cases covered by a 

firm commitment issued by HUD. Cases 

at earlier stages of processing cannot be 

submitted for insurance by the 

terminated mortgagee; however, the 

cases may be transferred for completion 

of processing and underwriting to 

another mortgagee with DE Approval in 

that area. Mortgagees are obligated to 

continue to pay existing insurance 

premiums and meet all other obligations 

associated with insured mortgages. 

A terminated mortgagee may apply for 

reinstatement of the DE Approval if the 

DE Approval for the affected area or 

areas has been terminated for at least six 

months and the mortgagee continues to 

be an approved mortgagee meeting the 

requirements of 24 CFR 202.5, 202.6, 

202.7, 202.10 and 202.12. The 

mortgagee’s application for 

reinstatement must be in a format 

prescribed by the Secretary and signed 

by the mortgagee. In addition, the 

application must be accompanied by an 

independent analysis of the terminated 

office’s operations as well as its 

mortgage production, specifically 

including the FHA-insured mortgages 

cited in its termination notice. This 

independent analysis shall identify the 

underlying cause for the mortgagee’s 

high default and claim rate. The 

analysis must be prepared by an 

independent Certified Public 

Accountant (CPA) qualified to perform 


hsrobinson on DSK69SOYB1PROD with NOTICES
Federal Register / Vol. 75, No. 211 / Tuesday, November 2, 2010 / Notices 67389 

audits under Government Auditing 

Standards as provided by the 

Government Accountability Office. The 

mortgagee must also submit a written 

corrective action plan to address each of 

the issues identified in the CPA’s report, 

along with evidence that the plan has 

been implemented. The application for 

a new Agreement should be in the form 

of a letter, accompanied by the CPA’s 

report and corrective action plan. The 

request should be sent to the Director, 

Office of Lender Activities and Program 

Compliance, 451 Seventh Street, SW., 

Room B133–P3214, Washington, DC 

20410–8000 or by courier to 490 

L’Enfant Plaza, East, SW., Suite 3214, 

Washington, DC 20024–8000. 

Action: The following mortgagees 

have had their DE Approvals terminated 

by HUD: 

Mortgagee name Mortgagee branch address HUD Office jurisdictions Termination 

effective date 

Homeownership 

centers 

Freedom Mortgage Corp. 907 Pleasant Valley Ave. Mount Laurel, NJ 08054 Fort Worth ....................... 10/4/10 Denver. 

Freedom Mortgage Corp. 907 Pleasant Valley Ave. Mount Laurel, NJ 08054 Des Moines ..................... 10/4/10 Denver. 

Alacrity Lending Company.2535 E. Southlake Blvd., Ste 100 Southlake, TX 

76092.

Houston ........................... 8/30/10 Denver. 

Benefit Funding Corp. ..... 10724 Baltimore Ave. Beltsville, MD 20705 ............. Washington ..................... 8/16/10 Philadelphia. 

Nichols Mortgage Services Inc..1811 N. Meridian St. Indianapolis, IN 46202 ........... Indianapolis ..................... 8/11/10 Atlanta. 

Pine State Mortgage 

Corp..

6065 Roswell Road NE, Ste 300 Atlanta, GA 30328 Greensboro ..................... 8/11/10 Atlanta. 

Liberty Mortgage Corp. ... 3720 Davinci Ct., Ste 150 Norcross, GA 30092 ...... Minneapolis ..................... 8/9/10 Denver. 

D and R Mortgage Corp. 29870 Middlebelt Rd., Ste 100 Farmington Hills, MI 

48334.

Greensboro ..................... 8/1/10 Atlanta. 

Summit Funding Inc. ....... 2601 Fair Oaks Blvd. Sacramento, CA 95864–4932 Fort Worth ....................... 8/1/10 Denver. 

Dated: October 22, 2010. 

David H. Stevens, 

Assistant Secretary for Housing—Federal 

Housing Commissioner. 

[FR Doc. 2010–27549 Filed 11–1–10; 8:45 am] 

BILLING CODE 4210–67–P 

DEPARTMENT OF HOUSING AND 

URBAN DEVELOPMENT 

[Docket No. FR–5408–N–02] 

Notice of Availability of the Draft 

Environmental Impact Statement for 

the Yesler Terrace Redevelopment 

Project 

AGENCY: Office of the Assistant 

Secretary for Community Planning and 

Development, HUD. 

ACTION: Notice. 

SUMMARY: The Department of Housing 

and Urban Development (HUD) gives 

notice to the public, agencies, and 

Indian tribes that the Seattle Housing 

Authority and the City of Seattle Human 

Services Department (Community 

Development Block Grant (CDBG) 

Administration Unit) have prepared a 

Draft Environmental Impact Statement 

(DEIS) for the Yesler Terrace 

Redevelopment Project, located in the 

City of Seattle, King County, WA. The 

project proponent is the Seattle Housing 

Authority. The City of Seattle Human 

Services Department and the Seattle 

Housing Authority, acting jointly as lead 

agencies, have prepared the DEIS under 

the authority of the City of Seattle 

Human Services Department as the 

Responsible Entity for compliance with 

the National Environmental Policy Act 

(NEPA) in accordance with 42 U.S.C. 

1437x and HUD regulations at 24 CFR 

58.4, and under the Seattle Housing 

Authority’s role as lead agency in 

accordance with the Washington State 

Environmental Policy Act (SEPA). The 

DEIS is a joint NEPA and SEPA 

document. The DEIS satisfies 

requirements of SEPA (RCW 43.21C) 

and the SEPA Rules (WAC 197–11) 

which require that all state and local 

government agencies consider the 

environmental consequences of projects 

over which they have discretionary 

authority before acting on those 

projects. The proposed action is subject 

to compliance with NEPA, because 

funds from the public housing programs 

under Title I of the United States 

Housing Act of 1937 (HOPE VI, Capital 

Funds, Demolition/Disposition) will be 

used for this project (24 CFR 

58.1(b)(6)(i)). This notice is given in 

accordance with the Council on 

Environmental Quality regulations at 40 

CFR parts 1500–1508. All interested 

Federal, State, and local agencies, 

Indian tribes, groups, and the public are 

also invited to comment on the DEIS. If 

you are an agency with jurisdiction by 

law over natural or other public 

resources affected by the project, the 

Seattle Housing Authority and the City 

of Seattle Human Services Department 

need to know what environmental 

information germane to your statutory 

responsibilities should be included in 

the DEIS. 

ADDRESSES: Comments relating to the 

DEIS are requested and will be accepted 

by the contact persons listed below until 

December 13, 2010. Any person or 

agency interested in receiving a notice 

and wishing to make comment on the 

DEIS should contact the persons listed 

below. 

FOR FURTHER INFORMATION CONTACT: 

Stephanie Van Dyke, Development 

Director of the Seattle Housing 

Authority, 

YTEISComments@seattlehousing.org, 

P.O. Box 19028, Seattle, WA 98109– 

1028, (f) 206–615–3539 (SEPA) and 

Kristen Larson, Project Funding and 

Agreements Coordinator, City of Seattle 

Human Services Department, CDBG 

Administration Unit, 

Kristen.Larson@seattle.gov, P.O. Box 

34215, Seattle, WA 98124–4215, (f) 206– 

621–5003 (NEPA). 

For additional background 

information on the project proposal, 

please see the Seattle Housing Authority 

Web site: http:// 

www.seattlehousing.org/redevelopment/ 

yesler-terrace/. 

Public Participation: A public hearing 

on the DEIS will be held for the public 

to provide verbal or written comment on 

the DEIS. At the meeting, the public will 

be able to view graphics illustrating 

preliminary redevelopment concepts 

associated with the proposed actions 

and speak with staff of the Seattle 

Housing Authority, the City of Seattle 

and members of the consultant team 

providing technical analyses in support 

of the project. Written comments may be 

mailed, sent via fax or e-mailed to the 

Seattle Housing Authority contact listed 

above or submitted at the public hearing 

on the DEIS. 

The public hearing will be held at the 

Yesler Community Center (835 Yesler 

Way, Seattle, WA 98122) on November 

30, 2010 at 6 p.m. For accommodations 

and translation services in conjunction 


hsrobinson on DSK69SOYB1PROD with NOTICES