Notice of Submission of Proposed Information Collection to OMB; Application for Approval as FHA Title I/II Lender/GNMA Mortgage-Backed Securities Issuer, 11256-11257 [05-4395]

Download as PDF 11256 Federal Register / Vol. 70, No. 44 / Tuesday, March 8, 2005 / Notices sleep deprivation, medication, or alcohol. Number of Respondents: 38,052 annually. Estimated Annual Burden Hours: 11,430 hours. TSA is soliciting comments to— (1) Evaluate whether the proposed information requirement is necessary for the proper performance of the functions of the agency, including whether the information will have practical utility; (2) Evaluate the accuracy of the agency’s estimate of the burden; (3) Enhance the quality, utility, and clarity of the information to be collected; and (4) Minimize the burden of the collection of information on those who are to respond, including through the use of appropriate automated, electronic, mechanical, or other technological collection techniques or other forms of information technology. Issued in Arlington, Virginia, on March 3, 2005. Lisa S. Dean, Privacy Officer. [FR Doc. 05–4403 Filed 3–7–05; 8:45 am] BILLING CODE 4910–62–P DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT [Docket No. FR–4971–N–14] Notice of Submission of Proposed Information Collection to OMB; Application for Approval as FHA Title I/II Lender/GNMA Mortgage-Backed Securities Issuer Office of the Chief Information Officer, HUD. ACTION: Notice. AGENCY: SUMMARY: The proposed information collection requirement described below has been submitted to the Office of Management and Budget (OMB) for review, as required by the Paperwork Reduction Act. The Department is soliciting public comments on the subject proposal. HUD is requesting approval to consolidate the two currently approved information collections for Application for Approval as FHA Title I/II Lender/ GNMA Mortgage-Backed Securities Issuer and the Annual Financial Statements from Title I/II Nonsupervised Mortgagees/Loan Correspondents. DATES: Comments Due Date: April 7, 2005. Interested persons are invited to submit comments regarding this proposal. Comments should refer to the proposal by name and/or OMB approval Number (2502–0005) and should be sent to: HUD Desk Officer, Office of Management and Budget, New Executive Office Building, Washington, DC 20503; fax: 202–395–6974. FOR FURTHER INFORMATION CONTACT: Wayne Eddins, Reports Management Officer, AYO, Department of Housing and Urban Development, 451 Seventh Street, SW., Washington, DC 20410; email Wayne_Eddins@HUD.gov; or Lillian Deitzer at Lillian_L_Deitzer@HUD.gov or telephone (202) 708–2374. This is not a toll-free number. Copies of available documents submitted to OMB may be obtained from Mr. Eddins or Ms Deitzer and at HUD’s Web site at http:// www5.hud.gov:63001/po/i/icbts/ collectionsearch.cfm. ADDRESSES: This notice informs the public that the Department of Housing and Urban Development has submitted to OMB a request for approval of the information collection described below. This notice is soliciting comments from members of the public and affecting agencies concerning the proposed collection of information to: (1) Evaluate whether the proposed collection of information is necessary for the proper performance of the functions of the agency, including whether the information will have practical utility; (2) Evaluate the accuracy of the agency’s estimate of the burden of the proposed collection of SUPPLEMENTARY INFORMATION: Number of respondents Annual responses 13,500 41,150 Reporting Burden ............................................................................. VerDate jul<14>2003 19:54 Mar 07, 2005 Jkt 205001 PO 00000 Frm 00064 information; (3) Enhance the quality, utility, and clarity of the information to be collected; and (4) Minimize the burden of the collection of information on those who are to respond; including through the use of appropriate automated collection techniques or other forms of information technology, e.g., permitting electronic submission of responses. This notice also lists the following information: Title of Proposal: Application for Approval as FHA Title I/II Lender/ GNMA Mortgage-Backed Securities Issuer. OMB Approval Number: 2502–0005. Form Numbers: HUD–11701, HUD– 11701–A, HUD–11701–B, HUD–11701– C, HUD–11701–D, HUD–11701–E, HUD–92001–B, and HUD–56005. Description of the Need for the Information and Its Proposed Use: This information is required for approval of FHA Title I lenders and Title II mortgagees and for issuers of Ginnie Mae mortgage-backed securities. Additional information is then required of all FHA approved Title I lenders and Title II mortgagees to: (1) Maintain their approval (annual Recertification); (2) add/delete branches; (3) pay additional fees to FHA for annual Recertification, new branches, and business conversions; (4) report business changes of lender or mortgagee including structure, addresses, and principal owners and officers; (5) report noncompliances detected by lender and mortgagee quality control plans; and (6) voluntarily terminate FHA approval. HUD is requesting approval to consolidate the two currently approved information collections for Application for Approval as FHA Title I/II Lender/ GNMA Mortgage-Backed Securities Issuer and the Annual Financial Statements from Title I/II Nonsupervised Mortgagees/Loan Correspondents. Frequency of Submission: On occasion. Fmt 4703 Sfmt 4703 E:\FR\FM\08MRN1.SGM × Hours per response 0.7 08MRN1 = Burden hours 28,298 Federal Register / Vol. 70, No. 44 / Tuesday, March 8, 2005 / Notices Total Estimated Burden Hours: 28,298. Status: Revision of a currently approved collection. Authority: Section 3507 of the Paperwork Reduction Act of 1995, 44 U.S.C. 35, as amended. Dated: March 2, 2005. Wayne Eddins, Departmental Paperwork Reduction Act Officer, Office of the Chief Information Officer. [FR Doc. 05–4395 Filed 3–7–05; 8:45 am] BILLING CODE 4210–72–P DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT [Docket No. FR–4639–N–07] Notice of HUD–Held Multifamily and Healthcare Loan Sale (MHLS 2005–1) Office of the Assistant Secretary for Housing—Federal Housing Commissioner, HUD. ACTION: Notice of sale of mortgage loans. AGENCY: SUMMARY: This notice announces HUD’s intention to sell certain unsubsidized multifamily and healthcare mortgage loans, without Federal Housing Administration (FHA) insurance, in a competitive, sealed bid sale (MHLS 2005–1). This notice also describes generally the bidding process for the sale and certain persons who are ineligible to bid. DATES: The Bidder Information Package (BIP) was made available to qualified bidders on February 14, 2005. Bids for the loans must be submitted on the bid date, which is currently scheduled for March 16, 2005. HUD anticipates that awards will be made on or before March 18, 2005. Closings are expected to take place from March 23, 2005 through March 31, 2005. 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 http:// www.hud.gov/offices/hsg/comp/asset/ mfam/mhls.cfm. The executed documents must be mailed and faxed to KEMA Advisors, Inc., HUD’s transaction specialist for the sale, at 1400 K Street, NW., Suite 950, Attention: MHLS 2005– 1 Sale Coordinator, Fax: 202–464–3047. FOR FURTHER INFORMATION CONTACT: Myrna Gordon, Deputy Director, Asset Sales Office, Room 3136, Department of Housing and Urban Development, 451 Seventh Street, SW., Washington, DC 20410–8000; telephone 202–708–2625, VerDate jul<14>2003 19:54 Mar 07, 2005 Jkt 205001 extension 3369 or Gregory Bolton, Senior Attorney, Office of Insured Housing, Multifamily Division, Room 9230; telephone 202–708–0614, extension 5245. Hearing-or speechimpaired individuals may call 202–708– 4594 (TTY). These are not toll-free numbers. SUPPLEMENTARY INFORMATION: HUD announces its intention to sell in MHLS 2005–1 certain unsubsidized mortgage loans (Mortgage Loans) secured by multifamily and healthcare properties located throughout the United States. The Mortgage Loans are comprised of performing and nonperforming mortgage loans. A final listing of the Mortgage Loans will be included in the BIP. The Mortgage Loans will be sold without FHA insurance and with servicing released. HUD will offer qualified bidders an opportunity to bid competitively on the Mortgage Loans. The Mortgage Loans will be stratified for bidding purposes into several mortgage loan pools. Each pool will contain Mortgage Loans that generally have similar performance, property type, geographic location, lien position and other characteristics. Qualified bidders may submit bids on one or more pools of Mortgage Loans. A mortgagor who is a qualified bidder may submit an individual bid on its own Mortgage Loan. The Bidding Process The BIP will describe in detail the procedure for bidding in MHLS 2005–1. The BIP will also include a standardized nonnegotiable loan sale agreement (Loan Sale Agreement) and a loan information CD that contains a spreadsheet with selected attributes for each Mortgage Loan. As part of its bid, each bidder must submit a deposit equal to the greater of $100,000 or 10% of the bid price. HUD will evaluate the bids submitted and determine the successful bids 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. Deposits will be returned to unsuccessful bidders. Closings are scheduled to occur between March 23, 2005 and March 31, 2005. These are the essential terms of sale. The Loan Sale Agreement, which will be included in the BIP, will contain 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 will describe the due diligence process for reviewing loan PO 00000 Frm 00065 Fmt 4703 Sfmt 4703 11257 files in MHLS 2005–1. Qualified bidders will be able to access loan information at a due diligence facility or remotely via a high speed Internet connection. Further information on performing due diligence review of the Mortgage Loans will be provided in the BIP. Mortgage Loan Sale Policy HUD reserves the right to add Mortgage Loans to or delete Mortgage Loans from MHLS 2005–1 at any time prior to the Award Date. HUD also reserves the right to reject any and all bids, in whole or in part, without prejudice to HUD’s right to include any Mortgage Loans in a later sale. Mortgage Loans will not be withdrawn after the Award Date except as is specifically provided in the Loan Sale Agreement. This is a sale of unsubsidized mortgage loans. Pursuant to the Multifamily Mortgage Sale Regulations, 24 CFR 290.30 et seq., the Mortgage Loans will be sold without FHA insurance. Consistent with HUD’s policy as set forth in 24 CFR 290.35, HUD is unaware of any Mortgage Loan that is delinquent and secures a project (1) for which foreclosure appears unavoidable, and (2) in which very-low income tenants reside who are not receiving housing assistance and who would be likely to pay rent in excess of 30 percent of their adjusted monthly income if HUD sold the Mortgage Loan. If HUD determines that any Mortgage Loans meet these criteria, they will be removed from the sale. Mortgage Loan Sale Procedure HUD selected a competitive sale as the method to sell the Mortgage Loans primarily to satisfy the Mortgage Sale Regulations. 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 ineligible to bid on any of the Mortgage Loans included in MHLS 2005–1: (1) Any employee of HUD, a member of such employee’s household, or an entity owned or controlled by any such employee or member of such an employee’s household; E:\FR\FM\08MRN1.SGM 08MRN1

Agencies

[Federal Register Volume 70, Number 44 (Tuesday, March 8, 2005)]
[Notices]
[Pages 11256-11257]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 05-4395]


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DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT

[Docket No. FR-4971-N-14]


Notice of Submission of Proposed Information Collection to OMB; 
Application for Approval as FHA Title I/II Lender/GNMA Mortgage-Backed 
Securities Issuer

AGENCY: Office of the Chief Information Officer, HUD.

ACTION: Notice.

-----------------------------------------------------------------------

SUMMARY: The proposed information collection requirement described 
below has been submitted to the Office of Management and Budget (OMB) 
for review, as required by the Paperwork Reduction Act. The Department 
is soliciting public comments on the subject proposal.
    HUD is requesting approval to consolidate the two currently 
approved information collections for Application for Approval as FHA 
Title I/II Lender/GNMA Mortgage-Backed Securities Issuer and the Annual 
Financial Statements from Title I/II Nonsupervised Mortgagees/Loan 
Correspondents.

DATES: Comments Due Date: April 7, 2005.

ADDRESSES: Interested persons are invited to submit comments regarding 
this proposal. Comments should refer to the proposal by name and/or OMB 
approval Number (2502-0005) and should be sent to: HUD Desk Officer, 
Office of Management and Budget, New Executive Office Building, 
Washington, DC 20503; fax: 202-395-6974.

FOR FURTHER INFORMATION CONTACT: Wayne Eddins, Reports Management 
Officer, AYO, Department of Housing and Urban Development, 451 Seventh 
Street, SW., Washington, DC 20410; e-mail Wayne--Eddins@HUD.gov; or 
Lillian Deitzer at Lillian--L--Deitzer@HUD.gov or telephone (202) 708-
2374. This is not a toll-free number. Copies of available documents 
submitted to OMB may be obtained from Mr. Eddins or Ms Deitzer and at 
HUD's Web site at http://www5.hud.gov:63001/po/i/icbts/
collectionsearch.cfm.

SUPPLEMENTARY INFORMATION: This notice informs the public that the 
Department of Housing and Urban Development has submitted to OMB a 
request for approval of the information collection described below. 
This notice is soliciting comments from members of the public and 
affecting agencies concerning the proposed collection of information 
to: (1) Evaluate whether the proposed collection of information is 
necessary for the proper performance of the functions of the agency, 
including whether the information will have practical utility; (2) 
Evaluate the accuracy of the agency's estimate of the burden of the 
proposed collection of information; (3) Enhance the quality, utility, 
and clarity of the information to be collected; and (4) Minimize the 
burden of the collection of information on those who are to respond; 
including through the use of appropriate automated collection 
techniques or other forms of information technology, e.g., permitting 
electronic submission of responses.
    This notice also lists the following information:
    Title of Proposal: Application for Approval as FHA Title I/II 
Lender/GNMA Mortgage-Backed Securities Issuer.
    OMB Approval Number: 2502-0005.
    Form Numbers: HUD-11701, HUD-11701-A, HUD-11701-B, HUD-11701-C, 
HUD-11701-D, HUD-11701-E, HUD-92001-B, and HUD-56005.
    Description of the Need for the Information and Its Proposed Use: 
This information is required for approval of FHA Title I lenders and 
Title II mortgagees and for issuers of Ginnie Mae mortgage-backed 
securities. Additional information is then required of all FHA approved 
Title I lenders and Title II mortgagees to: (1) Maintain their approval 
(annual Recertification); (2) add/delete branches; (3) pay additional 
fees to FHA for annual Recertification, new branches, and business 
conversions; (4) report business changes of lender or mortgagee 
including structure, addresses, and principal owners and officers; (5) 
report non-compliances detected by lender and mortgagee quality control 
plans; and (6) voluntarily terminate FHA approval. HUD is requesting 
approval to consolidate the two currently approved information 
collections for Application for Approval as FHA Title I/II Lender/GNMA 
Mortgage-Backed Securities Issuer and the Annual Financial Statements 
from Title I/II Nonsupervised Mortgagees/Loan Correspondents.
    Frequency of Submission: On occasion.

----------------------------------------------------------------------------------------------------------------
                                       Number of          Annual              Hours per
                                      respondents       responses      x       response      =     Burden hours
----------------------------------------------------------------------------------------------------------------
Reporting Burden..................          13,500           41,150   ...             0.7   ...          28,298
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[[Page 11257]]

    Total Estimated Burden Hours: 28,298.
    Status: Revision of a currently approved collection.

    Authority: Section 3507 of the Paperwork Reduction Act of 1995, 
44 U.S.C. 35, as amended.

    Dated: March 2, 2005.
Wayne Eddins,
Departmental Paperwork Reduction Act Officer, Office of the Chief 
Information Officer.
[FR Doc. 05-4395 Filed 3-7-05; 8:45 am]
BILLING CODE 4210-72-P