The Federal Housing Administration (FHA), part of Housing and Urban Development, issues debentures in settlement of insured mortgages. The Bureau of the Fiscal Service issues, services, and redeems them on behalf of the Department of Housing and Urban Development (HUD). Debentures are issued in book-entry form in the exact amount payable to the owner. Prior to 1995, debentures were issued in physical (definitive) form.
- FHA Debentures bear interest from the date of issue.
- Interest is payable semiannually, normally on the first day of January and July, at the rate in effect as of the date the commitment was issued.
- Debentures mature either 10 or 20 years from the issue date. View the 31 CFR 337 regulations for more information.
Some FHA Debentures are callable by the U.S. Treasury and Housing and Urban Development. A notice of a proposed call is published in the Federal Register at least 90 days prior to the call date. Calls are usually made on an interest payment date, such as January 1 or July 1.
The Bureau of the Fiscal Service processes certain FHA Debenture forms. These forms are used to set up new accounts, make account changes, and transfer the debentures.
Forms should be returned to:
Bureau of the Fiscal Service
Special Investments Branch
P.O. Box 396
Parkersburg, WV 26106-0396
All other forms are available from and processed by HUD. If you have questions, call the Special Investments Branch.