www.hudclips.org 


U. S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT
WASHINGTON, D. C. 20410-8000

August 26,1988
OFFICE OF THE ASSISTANT SECRETARY FOR HOUSING-
FEDERAL HOUSING COMMISSIONER
MORTGAGEE LETTER 88-29
TO:  ALL APPROVED MORTGAGEES
SUBJECT:  FHA Debentures
 
        As of August 26, 1988, the Department of Housing and Urban
Development (HUD) will begin processing Federal Housing
Administration (FHA) Debentures through the Federal Reserve Bank in
Philadelphia (FRBP) rather than through the Department of the
Treasury (Treasury).  The FRBP uill process all debenture related
transactions except special redemption purchases.  These transactions
will be initially processed by HUD before being forwarded to FRBP.
 
        All inquiries involving FHA Debentures, including special
redemption purchases, shall be directed to the FRBP.
 
        The address of the FRBP is:
        Federal Reserve Bank
        Securities Division
        P.O. Box 90
        Philadelphia, PA  19105-0090
        (215) 574-6189
 
        The FRBP address for couriers is:
        Federal Reserve Bank
        Securities Division
        100 N. Sixth Street
        Philadelphia, PA  19105
 
        HUD is seeking legislative authority to convert to a
book-entry system and will implement such a system once the necessary
legislation is enacted.
 
                Sincerely yours,
                Thomas T. Demery
                Assistant Secretary for Housing-
                  Federal Commissioner, H