Notice of HUD-Held Multifamily and Healthcare Loan Sale (MHLS 2005-3), 73787-73788 [E5-7269]

Download as PDF Federal Register / Vol. 70, No. 238 / Tuesday, December 13, 2005 / Notices 73787 LIST OF AWARDEES UNDER THE FY 2005 FAIR HOUSING INITIATIVES PROGRAM FUNDING COMPETITION, BY INITIATIVE, ORGANIZATION, AND GRANT AMOUNT—Continued Award amount (in dollars) Organization name Metro Fair Housing Services, Inc., East Point, GA ............................................................................................................................. Montana Fair Housing, Inc., Missoula, MT ......................................................................................................................................... Central Alabama Fair Housing Center, Montgomery, AL ................................................................................................................... Northwest Fair Housing Alliance, Spokane, WA ................................................................................................................................. Austin Tenants Council, Inc., Austin, TX ............................................................................................................................................. Westchester Residential Opportunities, Inc., White Plains, NY .......................................................................................................... Lexington Fair Housing Council, Lexington, KY .................................................................................................................................. Fair Housing Center of Southwest Michigan, Kalamazoo, MI ............................................................................................................ Housing Discrimination Project, Inc., Holyoke, MA ............................................................................................................................. Equal Rights Center, Washington, DC ................................................................................................................................................ Sentinel Fair Housing, Oakland, CA ................................................................................................................................................... West Tennessee Legal Services, Inc., Jackson, TN .......................................................................................................................... Long Island Housing Services, Inc., Bohemia, NY ............................................................................................................................. Fair Housing Partnership of Greater Pittsburgh, Inc., Pittsburgh, PA ................................................................................................ San Antonio Fair Housing Council, San Antonio, TX ......................................................................................................................... Fair Housing Contact Service, Akron, OH .......................................................................................................................................... Metro Fair Housing Council of Greater Oklahoma, Oklahoma City, OK ............................................................................................ Bay Area Legal Aid, Oakland, CA ....................................................................................................................................................... Housing Advocates, Inc., Cleveland, OH ............................................................................................................................................ Fair Housing Center of Metropolitan Detroit, Detroit, MI .................................................................................................................... Savannah-Chatham County Fair Housing Council, Savannah, GA .................................................................................................... Dated: November 14, 2005. Kim Kendrick, Assistant Secretary for Fair Housing and Equal Opportunity. [FR Doc. E5–7268 Filed 12–12–05; 8:45 am] BILLING CODE 4210–28–P DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT [Docket No. FR–4639–N–09] Notice of HUD-Held Multifamily and Healthcare Loan Sale (MHLS 2005–3) 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 2005–3). This notice also describes generally the bidding process for the sale and certain persons who are ineligible to bid. DATES: The Bidder’s Information Package (BIP) was made available to qualified bidders on November 10, 2005. Bids for the loans must be submitted on the bid date, which is currently scheduled for December 14, 2005. HUD anticipates that awards will be made on or before December 16, 2005. Closings are expected to take place on December 21, 2005. VerDate Aug<31>2005 00:22 Dec 13, 2005 Jkt 208001 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 https:// www.hud.gov/offices/hsg/comp/asset/ mfam/mhls.cfm. The executed documents must be mailed and faxed to S.S.D., Inc., HUD’s Transaction Specialist for the sale, at 1400 K Street, NW., Suite 950, Attention: MHLS 2005– 3 Sale Coordinator, Fax: (202) 464–3047. FOR FURTHER INFORMATION CONTACT: Myrna Gordon, Deputy Director, Asset Sales Office, Department of Housing and Urban Development, 451 Seventh Street, SW., Room 3136, 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 2005–3 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 ADDRESSES: PO 00000 Frm 00068 Fmt 4703 Sfmt 4703 216,894.40 220,000.00 219,200.00 220,000.00 219,487.20 202,048.00 205,258.00 199,209.60 220,000.00 220,000.00 219,432.00 275,000.00 220,000.00 220,000.00 219,997.60 220,000.00 217,724.00 220,000.00 217,640.00 112,360.80 134,859.20 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. Interested Mortgagors should review the Qualification Statement to determine whether they may also be eligible to qualify to submit bids on one or more pools of Mortgage Loans or on individual loans in MHLS 2005–3. The Bidding Process The BIP will describe in detail the procedure for bidding in MHLS 2005–3. 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. E:\FR\FM\13DEN1.SGM 13DEN1 73788 Federal Register / Vol. 70, No. 238 / Tuesday, December 13, 2005 / Notices Closings are scheduled to occur on December 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 2005–3. 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 2005–3 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. VerDate Aug<31>2005 00:22 Dec 13, 2005 Jkt 208001 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 2005–3: (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 2005–3; (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 2005–3; (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 2005–3; (7) any mortgagor (or affiliate of a mortgagor) that failed to submit to HUD on or before November 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 November 30, 2005. In addition, any entity or individual that serviced or held any Mortgage Loan at any time during the two-year period prior to November 30, 2005, is ineligible to bid on such Mortgage Loan or on the PO 00000 Frm 00069 Fmt 4703 Sfmt 4703 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 two-year period prior to November 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 two-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 2005–3. Freedom of Information Act Requests HUD reserves the right, in its sole and absolute discretion, to disclose information regarding MHLS 2005–3, including, but not limited to, the identity of any successful bidder and its bid price or bid percentage for any pool of loans or individual loan, upon the closing of the sale of all the Mortgage Loans. Even if HUD elects not to publicly disclose any information relating to MHLS 2005–3, 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 2005–3 and does not establish HUD’s policy for the sale of other mortgage loans. Dated: December 4, 2005. Brian D. Montgomery, Assistant Secretary for Housing—Federal Housing Commissioner. [FR Doc. E5–7269 Filed 12–12–05; 8:45 am] BILLING CODE 4210–27–P DEPARTMENT OF THE INTERIOR Bureau of Land Management [UT–070–1610–DP–011J] Supplement to Notice of Availability of the Draft Resource Management Plan and Draft Environmental Impact Statement for the Price Field Office To List Proposed Areas of Critical Environmental Concern and Specific Associated Resource Use Limitations for Public Lands in Carbon and Emery Counties, UT AGENCY: Bureau of Land Management, Interior. E:\FR\FM\13DEN1.SGM 13DEN1

Agencies

[Federal Register Volume 70, Number 238 (Tuesday, December 13, 2005)]
[Notices]
[Pages 73787-73788]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E5-7269]


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DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT

[Docket No. FR-4639-N-09]


Notice of HUD-Held Multifamily and Healthcare Loan Sale (MHLS 
2005-3)

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

ACTION: Notice of sale of mortgage loans.

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

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 2005-3). This notice also describes generally the bidding 
process for the sale and certain persons who are ineligible to bid.

DATES: The Bidder's Information Package (BIP) was made available to 
qualified bidders on November 10, 2005. Bids for the loans must be 
submitted on the bid date, which is currently scheduled for December 
14, 2005. HUD anticipates that awards will be made on or before 
December 16, 2005. Closings are expected to take place on December 21, 
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 https://
www.hud.gov/offices/hsg/comp/asset/mfam/mhls.cfm. The executed 
documents must be mailed and faxed to S.S.D., Inc., HUD's Transaction 
Specialist for the sale, at 1400 K Street, NW., Suite 950, Attention: 
MHLS 2005-3 Sale Coordinator, Fax: (202) 464-3047.

FOR FURTHER INFORMATION CONTACT: Myrna Gordon, Deputy Director, Asset 
Sales Office, Department of Housing and Urban Development, 451 Seventh 
Street, SW., Room 3136, 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 
2005-3 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. Interested Mortgagors should review the 
Qualification Statement to determine whether they may also be eligible 
to qualify to submit bids on one or more pools of Mortgage Loans or on 
individual loans in MHLS 2005-3.

The Bidding Process

    The BIP will describe in detail the procedure for bidding in MHLS 
2005-3. 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.

[[Page 73788]]

Closings are scheduled to occur on December 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 2005-3. 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 2005-3 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 2005-3:
    (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 2005-3;
    (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 2005-3;
    (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 2005-3;
    (7) any mortgagor (or affiliate of a mortgagor) that failed to 
submit to HUD on or before November 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 November 30, 2005.
    In addition, any entity or individual that serviced or held any 
Mortgage Loan at any time during the two-year period prior to November 
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 two-year period prior to November 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 two-
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 2005-3.

Freedom of Information Act Requests

    HUD reserves the right, in its sole and absolute discretion, to 
disclose information regarding MHLS 2005-3, including, but not limited 
to, the identity of any successful bidder and its bid price or bid 
percentage for any pool of loans or individual loan, upon the closing 
of the sale of all the Mortgage Loans. Even if HUD elects not to 
publicly disclose any information relating to MHLS 2005-3, 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 2005-3 and does not establish HUD's 
policy for the sale of other mortgage loans.

    Dated: December 4, 2005.
Brian D. Montgomery,
Assistant Secretary for Housing--Federal Housing Commissioner.
 [FR Doc. E5-7269 Filed 12-12-05; 8:45 am]
BILLING CODE 4210-27-P
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