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Notice of FHA Debenture Call

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Office of the Assistant Secretary for Housing—Federal Housing Commissioner, HUD.




This notice announces a debenture recall of certain Federal Housing Administration (FHA) debentures, in accordance with authority provided in the National Housing Act.

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Darryl Getter, Office of Evaluation, Department of Housing and Urban Development, 451 Seventh Street, SW., Room 2232, Washington, DC 20410; telephone (202) 755-7500, extension 7541. This is not a toll-free number.

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Pursuant to Sections 204(c) and 207(j) of the National Housing Act, 12 U.S.C. 1710(c) and 1713(j), and in accordance with HUD's regulations at 24 CFR 203.409 and 207.259(e)(3), the Assistant Secretary for Housing—Federal Housing Commissioner, with the approval of the Secretary of HUD and the Secretary of the Treasury, announces the call of all FHA debentures, with a coupon rate of 6.00 percent or above, except for those debentures subject to “debenture lock agreements,” that have been registered on the books of the Bureau of Public Debt, Department of the Treasury, and are, therefore, “outstanding” as of September 30, 2006. The date of the call is January 1, 2007.

The debentures will be redeemed at par value 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 January 1, 2007, 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 Department of the Treasury on or after December 15, 2006. 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.

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Dated: September 16, 2006.

Brian D. Montgomery,

Assistant Secretary for Housing—Federal Housing Commissioner.

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[FR Doc. E6-16185 Filed 9-29-06; 8:45 am]