Federal Property Suitable as Facilities to Assist the Homeless, 52571 [E7-17910]
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Federal Register / Vol. 72, No. 178 / Friday, September 14, 2007 / Notices
DEPARTMENT OF HOUSING AND
URBAN DEVELOPMENT
[Docket No. FR–5125–N–37]
Federal Property Suitable as Facilities
to Assist the Homeless
Office of the Assistant
Secretary for Community Planning and
Development, HUD.
ACTION: Notice.
AGENCY:
SUMMARY: This Notice identifies
unutilized, underutilized, excess, and
surplus Federal property reviewed by
HUD for suitability for possible use to
assist the homeless.
DATES: Effective Date: September 14,
2007.
FOR FURTHER INFORMATION CONTACT:
Kathy Ezzell, Department of Housing
and Urban Development, Room 7262,
451 Seventh Street, SW., Washington,
DC 20410; telephone (202) 708–1234;
TTY number for the hearing- and
speech-impaired (202) 708–2565, (these
telephone numbers are not toll-free), or
call the toll-free Title V information line
at 1–800–927–7588.
SUPPLEMENTARY INFORMATION: In
accordance with the December 12, 1988
court order in National Coalition for the
Homeless v. Veterans Administration,
No. 88–2503–OG (D.D.C.), HUD
publishes a Notice, on a weekly basis,
identifying unutilized, underutilized,
excess and surplus Federal buildings
and real property that HUD has
reviewed for suitability for use to assist
the homeless. Today’s Notice is for the
purpose of announcing that no
additional properties have been
determined suitable or unsuitable this
week.
Dated: September 6, 2007.
Mark R. Johnston,
Deputy Assistant Secretary for Special Needs.
[FR Doc. E7–17910 Filed 9–13–07; 8:45 am]
BILLING CODE 4210–67–P
DEPARTMENT OF HOUSING AND
URBAN DEVELOPMENT
[Docket No. FR–5113-N–02]
Notice of HUD-Held Multifamily and
Healthcare Loan Sale (MHLS 2007–1)
Office of the Assistant
Secretary for Housing—Federal Housing
Commissioner, HUD.
ACTION: Notice of sale of mortgage loans.
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AGENCY:
SUMMARY: This notice announces HUD’s
intention to sell certain unsubsidized
multifamily and healthcare mortgage
loans, without Federal Housing
VerDate Aug<31>2005
15:44 Sep 13, 2007
Jkt 211001
Administration (FHA) insurance, in a
competitive, sealed bid sale (MHLS
2007–1). 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 August 16, 2007.
Bids for the loans must be submitted on
the bid date, which is currently
scheduled for September 19, 2007. HUD
anticipates that awards will be made on
or before September 21, 2007. Closings
are expected to take place on or before
September 28, 2007.
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 Corporate
Finance Services, LLC, 7831 Woodmont
Ave, No. 287, Bethesda, MD 20814,
Attention: Alfreda Ward, Fax (703) 847–
2783.
FOR FURTHER INFORMATION CONTACT: John
Lucey, 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 3927. 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 2007–1 certain unsubsidized
mortgage loans (Mortgage Loans)
secured by multifamily and healthcare
properties located throughout the
United States pursuant to section 204(a)
of the Departments of Veterans Affairs
and Housing and Urban Development,
and Independent Agencies
Appropriations Act of 1997, 12 U.S.C.
1715z–11a(a).
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
PO 00000
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52571
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 2007–1.
The Bidding Process
The BIP will describe in detail the
procedure for bidding in MHLS 2007–1.
The BIP will also include a standardized
nonnegotiable loan sale agreement
(Loan Sale Agreement).
As part of its bid, each bidder must
submit a deposit equal to the greater of
$100,000 or 10% of the bid price. In the
event the bidder’s aggregate bid is less
than $100,000, the minimum deposit
shall be not less than fifty percent (50%)
of the bidder’s aggregate bid. 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 or
before September 28, 2007.
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 2007–1. Qualified bidders
will be able to access loan information
remotely via a high-speed Internet
connection. Further information on
performing due diligence review of the
Mortgage Loans 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 2007–1 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.
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14SEN1
]]>Agencies
[Federal Register Volume 72, Number 178 (Friday, September 14, 2007)]
[Notices]
[Page 52571]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E7-17910]
[[Page 52571]]
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DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT
[Docket No. FR-5125-N-37]
Federal Property Suitable as Facilities to Assist the Homeless
AGENCY: Office of the Assistant Secretary for Community Planning and
Development, HUD.
ACTION: Notice.
-----------------------------------------------------------------------
SUMMARY: This Notice identifies unutilized, underutilized, excess, and
surplus Federal property reviewed by HUD for suitability for possible
use to assist the homeless.
DATES: Effective Date: September 14, 2007.
FOR FURTHER INFORMATION CONTACT: Kathy Ezzell, Department of Housing
and Urban Development, Room 7262, 451 Seventh Street, SW., Washington,
DC 20410; telephone (202) 708-1234; TTY number for the hearing- and
speech-impaired (202) 708-2565, (these telephone numbers are not toll-
free), or call the toll-free Title V information line at 1-800-927-
7588.
SUPPLEMENTARY INFORMATION: In accordance with the December 12, 1988
court order in National Coalition for the Homeless v. Veterans
Administration, No. 88-2503-OG (D.D.C.), HUD publishes a Notice, on a
weekly basis, identifying unutilized, underutilized, excess and surplus
Federal buildings and real property that HUD has reviewed for
suitability for use to assist the homeless. Today's Notice is for the
purpose of announcing that no additional properties have been
determined suitable or unsuitable this week.
Dated: September 6, 2007.
Mark R. Johnston,
Deputy Assistant Secretary for Special Needs.
[FR Doc. E7-17910 Filed 9-13-07; 8:45 am]
BILLING CODE 4210-67-P
