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