Notice of HUD-Held Healthcare Loan Sale (HLS 2016-1), 44892-44893 [2016-16258]
Download as PDF
<![CDATA[
44892
Federal Register / Vol. 81, No. 132 / Monday, July 11, 2016 / Notices
the data available for statistical,
research, or evaluation purposes for
qualified organizations capable of
research and analysis consistent with
the statistical, research, or evaluation
purposes for which the data were
provided or are maintained, but only if
the data are used and protected in
accordance with the terms and
conditions stated in this license
(License). Upon receipt of such
assurance of qualification and
capability, it is hereby agreed between
HUD and (Name of the organization to
be licensed) that the license be granted.
ESTIMATION OF THE TOTAL NUMBER OF HOURS NEEDED TO PREPARE THE INFORMATION COLLECTION INCLUDING NUMBER
OF RESPONDENTS, FREQUENCY OF RESPONSE, AND HOURS OF RESPONSE
Number of
respondents
Instrument
Applicants ........................................................................................................
Quarterly Reports ............................................................................................
Annual Reports ................................................................................................
Final Reports ...................................................................................................
Recordkeeping .................................................................................................
Total ..........................................................................................................
Status of the proposed information
collection: Pending OMB approval.
Authority: Title 13 U.S.C. Section 9(a), and
Title 12, U.S.C., Section 1701z–1 et seq.
Dated: June 29, 2016.
Katherine M. O’Regan,
Assistant Secretary, Office of Policy
Development and Research.
[FR Doc. 2016–16344 Filed 7–8–16; 8:45 am]
BILLING CODE 4210–67–P
DEPARTMENT OF HOUSING AND
URBAN DEVELOPMENT
[Docket No. FR–5956–N–01]
Notice of HUD-Held Healthcare Loan
Sale (HLS 2016–1)
Office of the Assistant
Secretary for Housing—Federal Housing
Commissioner, HUD.
ACTION: Notice.
AGENCY:
This notice announces HUD’s
intention to sell eight (8) unsubsidized
healthcare mortgage loans, without
Federal Housing Administration (FHA)
insurance, in a competitive auction
(HLS 2016–1 or Loan Sale) on or about
July 20, 2016. This notice also generally
describes the bidding process for the
sale and certain persons who are
ineligible to bid.
DATES: A Bidder’s Information Package
(BIP) will be made available on or about
June 22, 2016. Bids for the loans must
be submitted on the bid date of July 20,
2016 between certain specified hours.
HUD anticipates that an award or
awards will be made on or before July
22, 2016. Closing is expected to take
place between August 1, 2016 and
August 3, 2016.
ADDRESSES: To become a qualified
bidder and receive the BIP, prospective
bidders must complete, execute, and
submit a Confidentiality Agreement and
a Qualification Statement acceptable to
sradovich on DSK3GDR082PROD with NOTICES
SUMMARY:
VerDate Sep<11>2014
16:55 Jul 08, 2016
Jkt 238001
12
0
40
6
12
12
HUD. Both documents will be available
on the HUD Web site at www.hud.gov/
fhaloansales. Please fax or email as well
as mail executed original documents to
JS Watkins Realty Partners, LLC: J.S.
Watkins Realty Partners, LLC, c/o The
Debt Exchange, 133 Federal Street, 10th
Floor, Boston, MA 02111, Attention:
HLS 2016–1 Sale Coordinator, Fax: 1–
978–967–8607, Email: hls2016–1@
debtx.com.
FOR FURTHER INFORMATION CONTACT: John
Lucey, Director, Asset Sales Office,
Room 3136, U.S. Department of Housing
and Urban Development, 451 Seventh
Street SW., Washington, DC 20410–
8000; telephone 202–402–3927.
Hearing- or speech-impaired individuals
may call 202–708–4594 (TTY). These
are not toll-free numbers.
SUPPLEMENTARY INFORMATION: HUD
announces its intention to sell, in HLS
2016–1, eight (8) unsubsidized
healthcare mortgage loans (Mortgage
Loans) consisting of four first lien notes
and four associated 2nd lien notes
secured by four nursing home facilities
located in Bloomfield, Enfield,
Windham, and Hartford, Connecticut.
The Mortgage Loans are non-performing
mortgage loans. The listing of the
Mortgage Loans is included in the BIP.
The Mortgage Loans will be sold
without FHA insurance and with HUD
servicing released. HUD will offer
qualified bidders an opportunity to bid
competitively on the Mortgage Loans.
The Qualification Statement describes
the entities/individuals that may be
qualified to bid on the Mortgage Loans
if they meet certain requirements as
detailed in the Qualification Statement.
Some entities/individuals must meet
additional requirements in order to be
qualified to bid, including but not
limited to:
Any mortgagee/servicer who
originated one or more of the Mortgage
Loans; a mortgagor or a operator, with
PO 00000
Frm 00055
Fmt 4703
Sfmt 4703
Total annual
responses
Hours per
response
12
0
40
6
36
94
1
0
1
.25
0.5
2.75
Total hours
12
0
40
1.5
18
71.5
respect to any HUD insured or
subsidized mortgage loan (excluding the
Mortgage Loans being offered in the
Loan Sale) who is currently in default,
violation, or noncompliance with one or
more of HUD’s requirements or business
agreements; a limited partner,
nonmanaging member, investor and/or
shareholder who owns a 1 percent or
less interest in one or more the Mortgage
Loans, or in the project securing one or
more the Mortgage Loans; and any of the
aforementioned entities’/individuals’
principals, affiliates, family members,
and assigns.
Interested entities/individuals who
fall into one of these categories should
review the Qualification Statement to
determine whether they may be eligible
to qualify to submit a bid on the
Mortgage Loans. Other entities/
individuals not described herein may
also be restricted from bidding on the
Mortgage Loans, as fully detailed in the
Qualification Statement.
The Bidding Process
The BIP describes in detail the
procedure for bidding in HLS 2016–1.
The BIP also includes a standardized
non-negotiable loan sale agreement
(Loan Sale Agreement).
As part of its bid, each bidder must
submit a minimum deposit of the
greater of 10 percent of the total bid or
$100,000. HUD will evaluate the bids
submitted and determine the successful
bid(s) in its sole and absolute discretion.
If a bidder is successful, the bidder’s
deposit will be non-refundable and will
be applied toward the purchase price,
with any amount beyond the purchase
price being returned to the bidder.
Deposits will be returned to
unsuccessful bidders. Closings are
expected to take place between August
1, 2016 and August 3, 2016.
These are the essential terms of sale.
The Loan Sale Agreement, which is
E:\FR\FM\11JYN1.SGM
11JYN1
Federal Register / Vol. 81, No. 132 / Monday, July 11, 2016 / Notices
included in the BIP, contains additional
terms and details. To ensure a
competitive bidding process, the terms
of the bidding process and the Loan Sale
Agreement are not subject to
negotiation.
Due Diligence Review
The BIP describes the due diligence
process for reviewing loan files in HLS
2016–1. Qualified bidders will be able
to access loan information remotely via
a high-speed Internet connection.
Further information on performing due
diligence review of the Mortgage Loans
is provided in the BIP.
Mortgage Loan Sale Policy
HUD reserves the right to reject any
and all bids, in whole or in part,
without prejudice to HUD’s right to
include the Mortgage Loans in a later
sale. The Mortgage Loans will not be
withdrawn after the award date except
as is specifically provided for in the
Loan Sale Agreement.
This is a sale of unsubsidized
mortgage loans, pursuant to Section
204(a) of the Departments of Veterans
Affairs and Housing and Urban
Development, and Independent
Agencies Appropriations Act of 1997,
(12 U.S.C. 1715z–11a(a)).
sradovich on DSK3GDR082PROD with NOTICES
Mortgage Loan Sale Procedure
HUD selected a competitive sale as
the method to sell the Mortgage Loan.
This method of sale optimizes HUD’s
return on the sale of these Mortgage
Loans, affords the greatest opportunity
for all qualified bidders to bid on the
Mortgage Loans, and provides the
quickest and most efficient vehicle for
HUD to dispose of the Mortgage Loans.
Bidder Eligibility
In order to bid in the sale, a
prospective bidder must complete,
execute and submit both a
Confidentiality Agreement and a
Qualification Statement acceptable to
HUD. The following individuals and
entities are among those ineligible to bid
on the Mortgage Loans being sold in
HLS 2016–1:
1. A mortgagor or operator with
respect to one or more the Mortgage
Loans being offered in the Loan Sale, or
an Active Shareholder (as such term is
defined in the Qualification Statement);
2. Any individual or entity, and any
Related Party (as such term is defined in
the Qualification Statement) of such
individual or entity, that is a mortgagor
or operator with respect to any of HUD’s
multifamily and/or healthcare programs
(excluding the Mortgage Loans being
offered in the Loan Sale) and that has
failed to file financial statements or is
VerDate Sep<11>2014
16:55 Jul 08, 2016
Jkt 238001
otherwise in default under such
mortgage loan or is in violation or
noncompliance of any regulatory or
business agreements with HUD and fails
to cure such default or violation by no
later than July 6, 2016;
3. Any individual or entity that is
debarred, suspended, or excluded from
doing business with HUD pursuant to 2
CFR part 2424;
4. Any contractor, subcontractor and/
or consultant or advisor (including any
agent, employee, partner, director,
principal or affiliate of any of the
foregoing) who performed services for,
or on behalf of, HUD in connection with
HLS 2016–1;
5. Any employee of HUD, a member
of such employee’s family, or an entity
owned or controlled by any such
employee or member of such an
employee’s family;
6. Any individual or entity that uses
the services, directly or indirectly, of
any person or entity ineligible under
provisions (3) through (5) above to assist
in preparing its bid on any Mortgage
Loan.
7. An FHA-approved mortgagee,
including any principals, affiliates, or
assigns thereof, that has received FHA
insurance benefits for the one or more
of the Mortgage Loans being offered in
the Loan Sale;
8. An FHA-approved mortgagee and/
or loan servicer, including any
principals, affiliates, or assigns thereof,
that originated one ore more of the
Mortgage Loans being offered in the
Loan Sale if the Mortgage Loan
defaulted within two years of
origination and resulted in the payment
of an FHA insurance claim;
9. Any affiliate, principal or employee
of any person or entity that, within the
two-year period prior to July 1, 2016,
serviced any Mortgage Loan or
performed other services for or on
behalf of HUD;
10. Any contractor or subcontractor to
HUD that otherwise had access to
information concerning any Mortgage
Loan on behalf of HUD or provided
services to any person or entity which,
within the two-year period prior to July
1, 2016, had access to information with
respect to the Mortgage Loan on behalf
of HUD;
11. Any employee, officer, director or
any other person that provides or will
provide services to the prospective
bidder with respect to the Mortgage
Loans during any warranty period
established for the Loan Sale, that
serviced the Mortgage Loans or
performed other services for or on
behalf of HUD or within the two-year
period prior to July 1, 2016, provided
services to any person or entity which
PO 00000
Frm 00056
Fmt 4703
Sfmt 4703
44893
serviced, performed services or
otherwise had access to information
with respect to any Mortgage Loan for
or on behalf of HUD.
Other entities/individuals not
described herein may also be restricted
from bidding on the Mortgage Loans, as
fully detailed in the Qualification
Statement.
The Qualification Statement provides
further details pertaining to eligibility
requirements. Prospective bidders
should carefully review the
Qualification Statement to determine
whether they are eligible to submit bids
on the Mortgage Loans in HLS 2016–1.
Freedom of Information Act Requests
HUD reserves the right, in its sole and
absolute discretion, to disclose
information regarding HLS 2016–1,
including, but not limited to, the
identity of any successful bidder and its
bid price or bid percentage for the
Mortgage Loans, upon the closing of the
sale of the Mortgage Loans. Even if HUD
elects not to publicly disclose any
information relating to HLS 2016–1,
HUD will have the right to disclose any
information that HUD is obligated to
disclose pursuant to the Freedom of
Information Act and all regulations
promulgated thereunder.
Scope of Notice
This notice applies to HLS 2016–1
and does not establish HUD’s policy for
the sale of other mortgage loans.
Dated: June 29, 2016.
Edward L. Golding,
Principal Deputy Assistant Secretary for
Housing.
[FR Doc. 2016–16258 Filed 7–8–16; 8:45 am]
BILLING CODE 4210–67–P
DEPARTMENT OF THE INTERIOR
National Park Service
[NPS–WASO–NAGPRA–21438;
PPWOCRADN0–PCU00RP14.R50000]
Notice of Inventory Completion: Texas
Archeological Research Laboratory,
Austin, TX
National Park Service, Interior.
Notice.
AGENCY:
ACTION:
The Texas Archeological
Research Laboratory (TARL) has
completed an inventory of human
remains and associated funerary objects,
in consultation with the appropriate
Indian tribes or Native Hawaiian
organizations, and has determined that
there is no cultural affiliation between
the human remains and associated
SUMMARY:
E:\FR\FM\11JYN1.SGM
11JYN1
]]>Agencies
[Federal Register Volume 81, Number 132 (Monday, July 11, 2016)]
[Notices]
[Pages 44892-44893]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2016-16258]
-----------------------------------------------------------------------
DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT
[Docket No. FR-5956-N-01]
Notice of HUD-Held Healthcare Loan Sale (HLS 2016-1)
AGENCY: Office of the Assistant Secretary for Housing--Federal Housing
Commissioner, HUD.
ACTION: Notice.
-----------------------------------------------------------------------
SUMMARY: This notice announces HUD's intention to sell eight (8)
unsubsidized healthcare mortgage loans, without Federal Housing
Administration (FHA) insurance, in a competitive auction (HLS 2016-1 or
Loan Sale) on or about July 20, 2016. This notice also generally
describes the bidding process for the sale and certain persons who are
ineligible to bid.
DATES: A Bidder's Information Package (BIP) will be made available on
or about June 22, 2016. Bids for the loans must be submitted on the bid
date of July 20, 2016 between certain specified hours. HUD anticipates
that an award or awards will be made on or before July 22, 2016.
Closing is expected to take place between August 1, 2016 and August 3,
2016.
ADDRESSES: To become a qualified bidder and receive the BIP,
prospective bidders must complete, execute, and submit a
Confidentiality Agreement and a Qualification Statement acceptable to
HUD. Both documents will be available on the HUD Web site at
www.hud.gov/fhaloansales. Please fax or email as well as mail executed
original documents to JS Watkins Realty Partners, LLC: J.S. Watkins
Realty Partners, LLC, c/o The Debt Exchange, 133 Federal Street, 10th
Floor, Boston, MA 02111, Attention: HLS 2016-1 Sale Coordinator, Fax:
1-978-967-8607, Email: hls2016-1@debtx.com.
FOR FURTHER INFORMATION CONTACT: John Lucey, Director, Asset Sales
Office, Room 3136, U.S. Department of Housing and Urban Development,
451 Seventh Street SW., Washington, DC 20410-8000; telephone 202-402-
3927. Hearing- or speech-impaired individuals may call 202-708-4594
(TTY). These are not toll-free numbers.
SUPPLEMENTARY INFORMATION: HUD announces its intention to sell, in HLS
2016-1, eight (8) unsubsidized healthcare mortgage loans (Mortgage
Loans) consisting of four first lien notes and four associated 2nd lien
notes secured by four nursing home facilities located in Bloomfield,
Enfield, Windham, and Hartford, Connecticut. The Mortgage Loans are
non-performing mortgage loans. The listing of the Mortgage Loans is
included in the BIP. The Mortgage Loans will be sold without FHA
insurance and with HUD servicing released. HUD will offer qualified
bidders an opportunity to bid competitively on the Mortgage Loans.
The Qualification Statement describes the entities/individuals that
may be qualified to bid on the Mortgage Loans if they meet certain
requirements as detailed in the Qualification Statement. Some entities/
individuals must meet additional requirements in order to be qualified
to bid, including but not limited to:
Any mortgagee/servicer who originated one or more of the Mortgage
Loans; a mortgagor or a operator, with respect to any HUD insured or
subsidized mortgage loan (excluding the Mortgage Loans being offered in
the Loan Sale) who is currently in default, violation, or noncompliance
with one or more of HUD's requirements or business agreements; a
limited partner, nonmanaging member, investor and/or shareholder who
owns a 1 percent or less interest in one or more the Mortgage Loans, or
in the project securing one or more the Mortgage Loans; and any of the
aforementioned entities'/individuals' principals, affiliates, family
members, and assigns.
Interested entities/individuals who fall into one of these
categories should review the Qualification Statement to determine
whether they may be eligible to qualify to submit a bid on the Mortgage
Loans. Other entities/individuals not described herein may also be
restricted from bidding on the Mortgage Loans, as fully detailed in the
Qualification Statement.
The Bidding Process
The BIP describes in detail the procedure for bidding in HLS 2016-
1. The BIP also includes a standardized non-negotiable loan sale
agreement (Loan Sale Agreement).
As part of its bid, each bidder must submit a minimum deposit of
the greater of 10 percent of the total bid or $100,000. HUD will
evaluate the bids submitted and determine the successful bid(s) in its
sole and absolute discretion. If a bidder is successful, the bidder's
deposit will be non-refundable and will be applied toward the purchase
price, with any amount beyond the purchase price being returned to the
bidder. Deposits will be returned to unsuccessful bidders. Closings are
expected to take place between August 1, 2016 and August 3, 2016.
These are the essential terms of sale. The Loan Sale Agreement,
which is
[[Page 44893]]
included in the BIP, contains additional terms and details. To ensure a
competitive bidding process, the terms of the bidding process and the
Loan Sale Agreement are not subject to negotiation.
Due Diligence Review
The BIP describes the due diligence process for reviewing loan
files in HLS 2016-1. Qualified bidders will be able to access loan
information remotely via a high-speed Internet connection. Further
information on performing due diligence review of the Mortgage Loans is
provided in the BIP.
Mortgage Loan Sale Policy
HUD reserves the right to reject any and all bids, in whole or in
part, without prejudice to HUD's right to include the Mortgage Loans in
a later sale. The Mortgage Loans will not be withdrawn after the award
date except as is specifically provided for in the Loan Sale Agreement.
This is a sale of unsubsidized mortgage loans, pursuant to Section
204(a) of the Departments of Veterans Affairs and Housing and Urban
Development, and Independent Agencies Appropriations Act of 1997, (12
U.S.C. 1715z-11a(a)).
Mortgage Loan Sale Procedure
HUD selected a competitive sale as the method to sell the Mortgage
Loan. This method of sale optimizes HUD's return on the sale of these
Mortgage Loans, affords the greatest opportunity for all qualified
bidders to bid on the Mortgage Loans, and provides the quickest and
most efficient vehicle for HUD to dispose of the Mortgage Loans.
Bidder Eligibility
In order to bid in the sale, a prospective bidder must complete,
execute and submit both a Confidentiality Agreement and a Qualification
Statement acceptable to HUD. The following individuals and entities are
among those ineligible to bid on the Mortgage Loans being sold in HLS
2016-1:
1. A mortgagor or operator with respect to one or more the Mortgage
Loans being offered in the Loan Sale, or an Active Shareholder (as such
term is defined in the Qualification Statement);
2. Any individual or entity, and any Related Party (as such term is
defined in the Qualification Statement) of such individual or entity,
that is a mortgagor or operator with respect to any of HUD's
multifamily and/or healthcare programs (excluding the Mortgage Loans
being offered in the Loan Sale) and that has failed to file financial
statements or is otherwise in default under such mortgage loan or is in
violation or noncompliance of any regulatory or business agreements
with HUD and fails to cure such default or violation by no later than
July 6, 2016;
3. Any individual or entity that is debarred, suspended, or
excluded from doing business with HUD pursuant to 2 CFR part 2424;
4. Any contractor, subcontractor and/or consultant or advisor
(including any agent, employee, partner, director, principal or
affiliate of any of the foregoing) who performed services for, or on
behalf of, HUD in connection with HLS 2016-1;
5. Any employee of HUD, a member of such employee's family, or an
entity owned or controlled by any such employee or member of such an
employee's family;
6. Any individual or entity that uses the services, directly or
indirectly, of any person or entity ineligible under provisions (3)
through (5) above to assist in preparing its bid on any Mortgage Loan.
7. An FHA-approved mortgagee, including any principals, affiliates,
or assigns thereof, that has received FHA insurance benefits for the
one or more of the Mortgage Loans being offered in the Loan Sale;
8. An FHA-approved mortgagee and/or loan servicer, including any
principals, affiliates, or assigns thereof, that originated one ore
more of the Mortgage Loans being offered in the Loan Sale if the
Mortgage Loan defaulted within two years of origination and resulted in
the payment of an FHA insurance claim;
9. Any affiliate, principal or employee of any person or entity
that, within the two-year period prior to July 1, 2016, serviced any
Mortgage Loan or performed other services for or on behalf of HUD;
10. Any contractor or subcontractor to HUD that otherwise had
access to information concerning any Mortgage Loan on behalf of HUD or
provided services to any person or entity which, within the two-year
period prior to July 1, 2016, had access to information with respect to
the Mortgage Loan on behalf of HUD;
11. Any employee, officer, director or any other person that
provides or will provide services to the prospective bidder with
respect to the Mortgage Loans during any warranty period established
for the Loan Sale, that serviced the Mortgage Loans or performed other
services for or on behalf of HUD or within the two-year period prior to
July 1, 2016, provided services to any person or entity which serviced,
performed services or otherwise had access to information with respect
to any Mortgage Loan for or on behalf of HUD.
Other entities/individuals not described herein may also be
restricted from bidding on the Mortgage Loans, as fully detailed in the
Qualification Statement.
The Qualification Statement provides further details pertaining to
eligibility requirements. Prospective bidders should carefully review
the Qualification Statement to determine whether they are eligible to
submit bids on the Mortgage Loans in HLS 2016-1.
Freedom of Information Act Requests
HUD reserves the right, in its sole and absolute discretion, to
disclose information regarding HLS 2016-1, including, but not limited
to, the identity of any successful bidder and its bid price or bid
percentage for the Mortgage Loans, upon the closing of the sale of the
Mortgage Loans. Even if HUD elects not to publicly disclose any
information relating to HLS 2016-1, HUD will have the right to disclose
any information that HUD is obligated to disclose pursuant to the
Freedom of Information Act and all regulations promulgated thereunder.
Scope of Notice
This notice applies to HLS 2016-1 and does not establish HUD's
policy for the sale of other mortgage loans.
Dated: June 29, 2016.
Edward L. Golding,
Principal Deputy Assistant Secretary for Housing.
[FR Doc. 2016-16258 Filed 7-8-16; 8:45 am]
BILLING CODE 4210-67-P
