Notice of HUD-Held Multifamily and Healthcare Loan Sale (MHLS 2005-2), 53805-53807 [E5-4972]

Download as PDF Federal Register / Vol. 70, No. 175 / Monday, September 12, 2005 / Notices costs. For a period of up to 72 hours, you are authorized to fund assistance for emergency protective measures, including direct Federal assistance, at 100 percent of the total eligible costs. Federal funding for debris removal will remain at 75 percent. Further, you are authorized to make changes to this declaration to the extent allowable under the Stafford Act. The time period prescribed for the implementation of section 310(a), Priority to Certain Applications for Public Facility and Public Housing Assistance, 42 U.S.C. 5153, shall be for a period not to exceed six months after the date of this declaration. The Federal Emergency Management Agency (FEMA) hereby gives notice that pursuant to the authority vested in the Under Secretary for Emergency Preparedness and Response, Department of Homeland Security, under Executive Order 12148, as amended, William L. Carwile, III, of FEMA is appointed to act as the Federal Coordinating Officer for this declared disaster. I do hereby determine the following areas of the State of Mississippi to have been affected adversely by this declared major disaster: Amite, Forrest, George, Greene, Hancock, Harrison, Jackson, Lamar, Marion, Pearl River, Perry, Pike, Stone, Walthall, and Wilkinson Counties for Individual Assistance. Adams, Amite, Attala, Chickasaw, Choctaw, Claiborne, Clarke, Clay, Copiah, Covington, Forrest, Franklin, George, Greene, Hancock, Harrison, Hinds, Itawamba, Jackson, Jasper, Jefferson, Jefferson Davis, Jones, Kemper, Lamar, Lauderdale, Lawrence, Leake, Lee, Lincoln, Lowndes, Madison, Marion, Monroe, Neshoba, Newton, Noxubee, Oktibbeha, Pearl River, Perry, Pike, Rankin, Scott, Simpson, Smith, Stone, Walthall, Warren, Wayne, Webster, Wilkinson, and Winston Counties for debris removal and emergency protective measures, including direct Federal assistance. For a period of up to 72 hours, assistance for emergency protective measures, including direct Federal assistance, will be provided at 100 percent of the total eligible costs. The period of up to 72 hours at 100 percent excludes debris removal. All counties within the State of Mississippi are eligible to apply for assistance under the Hazard Mitigation Grant Program. (The following Catalog of Federal Domestic Assistance Numbers (CFDA) are to be used for reporting and drawing funds: 97.030, Community Disaster Loans; 97.031, Cora Brown Fund Program; 97.032, Crisis Counseling; 97.033, Disaster Legal Services Program; 97.034, Disaster Unemployment Assistance (DUA); 97.046, Fire Management Assistance; 97.048, Individual and Household Housing; 97.049, Individual and Household Disaster Housing Operations; 97.050, Individual and Household Program— Other Needs; 97.036, Public Assistance VerDate Aug<18>2005 15:25 Sep 09, 2005 Jkt 205001 Grants; 97.039, Hazard Mitigation Grant Program.) Michael D. Brown, Under Secretary, Emergency Preparedness and Response, Department of Homeland Security. [FR Doc. 05–17998 Filed 9–9–05; 8:45 am] BILLING CODE 9110–10–P DEPARTMENT OF HOMELAND SECURITY Federal Emergency Management Agency [FEMA–1604–DR] Mississippi; Amendment No. 1 to Notice of a Major Disaster Declaration Federal Emergency Management Agency, Emergency Preparedness and Response Directorate, Department of Homeland Security. ACTION: Notice. AGENCY: SUMMARY: This notice amends the notice of a major disaster for the State of Mississippi (FEMA–1604–DR), dated August 29, 2005, and related determinations. EFFECTIVE DATE: September 1, 2005. FOR FURTHER INFORMATION CONTACT: Magda Ruiz, Recovery Division, Federal Emergency Management Agency, Washington, DC 20472, (202) 646–2705. SUPPLEMENTARY INFORMATION: Notice is hereby given that, in a letter dated September 1, 2005, the President amended the cost sharing arrangements concerning Federal funds provided under the authority of the Robert T. Stafford Disaster Relief and Emergency Assistance Act, 42 U.S.C. 5121–5206 (Stafford Act), in a letter to Michael D. Brown, Under Secretary for Emergency Preparedness and Response, Federal Emergency Management Agency, Department of Homeland Security as follows: I have determined that the damage in certain areas of the State of Mississippi resulting from Hurricane Katrina on August 29, 2005, and continuing, is of sufficient severity and magnitude that special conditions are warranted regarding the cost sharing arrangements concerning Federal funds provided under the Robert T. Stafford Disaster Relief and Emergency Assistance Act, 42 U.S.C. 5121–5206 (the Stafford Act). Therefore, I amend my declaration of August 29, 2005, to authorize Federal funds for debris removal and emergency protective measures (Categories A and B), including direct Federal assistance, under the Public Assistance program at 100 percent of total eligible costs, for a 60-day period retroactive to the date of the major disaster declaration. This adjustment to State and local cost sharing applies only to Public Assistance PO 00000 Frm 00033 Fmt 4703 Sfmt 4703 53805 costs and direct Federal assistance eligible for such adjustments under the law. The law specifically prohibits a similar adjustment for funds provided to States for Other Needs Assistance (Section 408), and the Hazard Mitigation Grant Program (Section 404). These funds will continue to be reimbursed at 75 percent of total eligible costs. Please notify Governor Barbour and the Federal Coordinating Officer of this amendment to my major disaster declaration. This cost share is effective as of the date of the President’s major disaster declaration. (The following Catalog of Federal Domestic Assistance Numbers (CFDA) are to be used for reporting and drawing funds: 97.030, Community Disaster Loans; 97.031, Cora Brown Fund Program; 97.032, Crisis Counseling; 97.033, Disaster Legal Services Program; 97.034, Disaster Unemployment Assistance (DUA); 97.046, Fire Management Assistance; 97.048, Individuals and Households Housing; 97.049, Individuals and Households Disaster Housing Operations; 97.050, Individuals and Households Program—Other Needs; 97.036, Public Assistance Grants; 97.039, Hazard Mitigation Grant Program.) Michael D. Brown, Under Secretary, Emergency Preparedness and Response, Department of Homeland Security. [FR Doc. 05–17999 Filed 9–9–05; 8:45 am] BILLING CODE 9110–10–P DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT [Docket No. FR–4639–N–08] Notice of HUD-Held Multifamily and Healthcare Loan Sale (MHLS 2005–2) Office of the Assistant Secretary for Housing—Federal Housing Commissioner, HUD. ACTION: Notice. 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 2005–2). 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 August 10, 2005. Bids for the loans must be submitted on the bid date, which is currently scheduled for September 13, 2005. HUD anticipates that awards will be made on or before September 15, 2005. Closings are expected to take place on September 21, 2005. ADDRESSES: To become a qualified bidder and receive the BIP, prospective E:\FR\FM\12SEN1.SGM 12SEN1 53806 Federal Register / Vol. 70, No. 175 / Monday, September 12, 2005 / Notices 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 https:// 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, Washington, DC 20005, Attention: MHLS 2005–2 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, 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 2005–2 certain unsubsidized mortgage loans (Mortgage Loans) secured by multifamily and healthcare properties located throughout the United States. The Mortgage Loans are comprised primarily of non-performing 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 or may bid on individual 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 2005–2. 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 ten percent of the bid price. VerDate Aug<18>2005 15:25 Sep 09, 2005 Jkt 205001 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 on September 21, 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 files in MHLS 2005–2. 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 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 2005–2 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 lowincome 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 PO 00000 Frm 00034 Fmt 4703 Sfmt 4703 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 2005–2: 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; 2. Any individual or entity that is debarred, suspended, or excluded from doing business with HUD pursuant to Title 24 of the Code of Federal Regulations, part 24; 3. 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 MHLS 2005–2; 4. Any individual who was a principal, partner, director, agent or employee of any entity or individual described in subparagraph 3 above, at any time during which the entity or individual performed services for or on behalf of HUD in connection with MHLS 2005–2; 5. Any individual or entity that uses the services, directly or indirectly, of any person or entity ineligible under subparagraphs 1 through 4 above to assist in preparing any of its bids on the Mortgage Loans; 6. Any individual or entity which employs or uses the services of an employee of HUD (other than in such employee’s official capacity) who is involved in MHLS 2005–2; 7. Any mortgagor (or affiliate of a mortgagor) that failed to submit to HUD on or before August 30, 2005, audited financial statements for 1998 through 2004 for a project securing a Mortgage Loan; and 8. 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 in any of HUD’s multifamily housing programs and that is in default under such mortgage loan or is in violation of any regulatory or business agreements with HUD, unless such default or violation is cured on or before August 30, 2005. E:\FR\FM\12SEN1.SGM 12SEN1 Federal Register / Vol. 70, No. 175 / Monday, September 12, 2005 / Notices In addition, any entity or individual that serviced or held any Mortgage Loan at any time during the 2-year period prior to August 30, 2005, is ineligible to bid on such Mortgage Loan or on the pool containing such Mortgage Loan, but may bid on loan pools that do not contain Mortgage Loans that they have serviced or held at any time during the 2-year period prior to August 30, 2005. Also ineligible to bid on any Mortgage Loan are: (a) any affiliate or principal of any entity or individual described in the preceding sentence; (b) any employee or subcontractor of such entity or individual during that 2-year period; or (c) any entity or individual that employs or uses the services of any other entity or individual described in this paragraph in preparing its bid on such Mortgage Loan. Prospective bidders should carefully review the Qualification Statement to determine whether they are eligible to submit bids on the Mortgage Loans in MHLS 2005–2. Freedom of Information Act Requests HUD reserves the right, in its sole and absolute discretion, to disclose information regarding MHLS 2005–2, including, but not limited to, the identity of any bidder and their bid price or bid percentage for any pool of loans or individual loan, upon the completion of the sale. Even if HUD elects not to publicly disclose any information relating to MHLS 2005–2, 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 MHLS 2005–2, and does not establish HUD’s policy for the sale of other mortgage loans. Dated: September 6, 2005. Frank L. Davis, General Deputy Assistant Secretary for Housing. [FR Doc. E5–4972 Filed 9–9–05 8:45 am] BILLING CODE 4210–27–P DEPARTMENT OF THE INTERIOR Fish and Wildlife Service Endangered and Threatened Wildlife and Plants; 5-Year Review of Eight Southeastern Species Fish and Wildlife Service, Interior. ACTION: Notice. AGENCY: VerDate Aug<18>2005 15:25 Sep 09, 2005 Jkt 205001 SUMMARY: The U.S. Fish and Wildlife Service (Service) announces a 5-year review of the Puerto Rican parrot (Amazona vittata), Puerto Rican plain pigeon (Columba (=Patagioenas) inornata wetmorei), red-cockaded woodpecker (Picoides borealis), Puerto Rican boa (Epicrates inornatus), Virgin Islands tree boa (Epicrates monensis ´ granti), guajon (Eleutherodactylus cooki), Harrisia portoricensis (higo chumbo), and Adiantum vivesii (no common name), under section 4(c)(2) of the Endangered Species Act of 1973, as amended (Act). The purpose of reviews conducted under this section of the Act is to ensure that the classification of species as threatened or endangered on the List of Endangered and Threatened Wildlife and Plants (50 CFR 17.11 and 17.12) is accurate. The 5-year review is an assessment of the best scientific and commercial data available at the time of the review. DATES: To allow us adequate time to conduct this review, information submitted for our consideration must be received on or before November 14, 2005. However, we will continue to accept new information about any listed species at any time. ADDRESSES: Information submitted on the red-cockaded woodpecker should be sent to the Field Supervisor, Clemson Field Office, U.S. Fish and Wildlife Service, 2610 Lehotsky Hall, Box 341003, Clemson, South Carolina 29634. Information on the other seven listed species should be sent to the Field Supervisor, Caribbean Field Office, U.S. Fish and Wildlife Service, P.O. Box 491, ´ Boqueron, Puerto Rico 00622. Information received in response to this notice of review will be available for public inspection by appointment, during normal business hours, at the same address in Clemson, South Carolina, and at Cabo Rojo National Wildlife Refuge, Ecological Service Office, Carr. 301, Km. 5.1, Bo. Corozo, ´ Boqueron, Puerto Rico, for the other seven species. FOR FURTHER INFORMATION CONTACT: Ralph Costa, Field Supervisor, Clemson, South Carolina, at address above (telephone, (864) 656–2432) or Carlos ´ ´ Dıaz, Boqueron, Puerto Rico, at address above (telephone, (787) 851–7297, ext. 230). SUPPLEMENTARY INFORMATION: Under the Act (16 U.S.C. 1533 et seq.), the Service maintains a list of endangered and threatened wildlife and plant species at 50 CFR 17.11 (for animals) and 17.12 (for plants) (collectively referred to as the List). Section 4(c)(2)(A) of the Act requires that we conduct a review of listed species at least once every five PO 00000 Frm 00035 Fmt 4703 Sfmt 4703 53807 years. Then, on the basis of such reviews, under section 4(c)(2)(B), we determine whether or not any species should be removed from the List (delisted), or reclassified from endangered to threatened or from threatened to endangered. Delisting a species must be supported by the best scientific and commercial data available and only considered if such data substantiate that the species is neither endangered nor threatened for one or more of the following reasons: (1) The species is considered extinct; (2) the species is considered to be recovered; and/or (3) the original data available when the species was listed, or the interpretation of such data, were in error. Any change in Federal classification would require a separate rulemaking process. The regulations at 50 CFR 424.21 require that we publish a notice in the Federal Register announcing those species currently under active review. This notice announces our active review of the following species that are currently ´ federally listed as threatened: guajon and higo chumbo; and the following species currently federally listed as endangered: Puerto Rican parrot, Puerto Rican plain pigeon, red-cockaded woodpecker, Puerto Rican boa, Virgin Islands tree boa, and Adiantum vivesii. The List is found in 50 CFR 17.11 (wildlife) and 17.12 (plants) and is also available on our Internet site at https:// endangered.fws.gov/ wildlife.html#Species. Amendments to the List through final rules are published in the Federal Register. What Information Is Considered in the Review? A 5-year review considers the best scientific and commercial data that has become available since the current listing determination or most recent status review of each species, such as: A. Species biology, including but not limited to population trends, distribution, abundance, demographics, and genetics; B. Habitat conditions, including but not limited to amount, distribution, and suitability; C. Conservation measures that have been implemented to benefit the species; D. Threat status and trends (see five factors under heading ‘‘How do we determine whether a species is endangered or threatened?’’); and E. Other new information, data, or corrections, including but not limited to taxonomic or nomenclatural changes, identification of erroneous information contained in the List, and improved analytical methods. E:\FR\FM\12SEN1.SGM 12SEN1

Agencies

[Federal Register Volume 70, Number 175 (Monday, September 12, 2005)]
[Notices]
[Pages 53805-53807]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E5-4972]


=======================================================================
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DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT

[Docket No. FR-4639-N-08]


Notice of HUD-Held Multifamily and Healthcare Loan Sale (MHLS 
2005-2)

AGENCY: Office of the Assistant Secretary for Housing--Federal Housing 
Commissioner, HUD.

ACTION: Notice.

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

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 2005-2). 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 August 10, 2005. Bids for the loans must be 
submitted on the bid date, which is currently scheduled for September 
13, 2005. HUD anticipates that awards will be made on or before 
September 15, 2005. Closings are expected to take place on September 
21, 2005.

ADDRESSES: To become a qualified bidder and receive the BIP, 
prospective

[[Page 53806]]

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 https://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, Washington, DC 20005, Attention: MHLS 2005-2 
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, extension 3369, or Gregory Bolton, Senior Attorney, Office of 
Insured Housing, Multifamily Division, Room 9230; telephone 202-708-
0614, extension 5245. 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 MHLS 
2005-2 certain unsubsidized mortgage loans (Mortgage Loans) secured by 
multifamily and healthcare properties located throughout the United 
States. The Mortgage Loans are comprised primarily of non-performing 
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 or may bid on individual 
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 
2005-2. 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 ten percent 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 on September 21, 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 
files in MHLS 2005-2. 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 
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 2005-2 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 2005-2:
    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;
    2. Any individual or entity that is debarred, suspended, or 
excluded from doing business with HUD pursuant to Title 24 of the Code 
of Federal Regulations, part 24;
    3. 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 MHLS 2005-2;
    4. Any individual who was a principal, partner, director, agent or 
employee of any entity or individual described in subparagraph 3 above, 
at any time during which the entity or individual performed services 
for or on behalf of HUD in connection with MHLS 2005-2;
    5. Any individual or entity that uses the services, directly or 
indirectly, of any person or entity ineligible under subparagraphs 1 
through 4 above to assist in preparing any of its bids on the Mortgage 
Loans;
    6. Any individual or entity which employs or uses the services of 
an employee of HUD (other than in such employee's official capacity) 
who is involved in MHLS 2005-2;
    7. Any mortgagor (or affiliate of a mortgagor) that failed to 
submit to HUD on or before August 30, 2005, audited financial 
statements for 1998 through 2004 for a project securing a Mortgage 
Loan; and
    8. 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 in any of HUD's multifamily housing programs and 
that is in default under such mortgage loan or is in violation of any 
regulatory or business agreements with HUD, unless such default or 
violation is cured on or before August 30, 2005.

[[Page 53807]]

    In addition, any entity or individual that serviced or held any 
Mortgage Loan at any time during the 2-year period prior to August 30, 
2005, is ineligible to bid on such Mortgage Loan or on the pool 
containing such Mortgage Loan, but may bid on loan pools that do not 
contain Mortgage Loans that they have serviced or held at any time 
during the 2-year period prior to August 30, 2005. Also ineligible to 
bid on any Mortgage Loan are: (a) any affiliate or principal of any 
entity or individual described in the preceding sentence; (b) any 
employee or subcontractor of such entity or individual during that 2-
year period; or (c) any entity or individual that employs or uses the 
services of any other entity or individual described in this paragraph 
in preparing its bid on such Mortgage Loan.
    Prospective bidders should carefully review the Qualification 
Statement to determine whether they are eligible to submit bids on the 
Mortgage Loans in MHLS 2005-2.

Freedom of Information Act Requests

    HUD reserves the right, in its sole and absolute discretion, to 
disclose information regarding MHLS 2005-2, including, but not limited 
to, the identity of any bidder and their bid price or bid percentage 
for any pool of loans or individual loan, upon the completion of the 
sale. Even if HUD elects not to publicly disclose any information 
relating to MHLS 2005-2, 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 MHLS 2005-2, and does not establish HUD's 
policy for the sale of other mortgage loans.

    Dated: September 6, 2005.
Frank L. Davis,
General Deputy Assistant Secretary for Housing.
[FR Doc. E5-4972 Filed 9-9-05 8:45 am]
BILLING CODE 4210-27-P
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