Notice of HUD-Held Healthcare Loan Sale (HCLS 2011-1), 11256-11257 [2011-4408]

Download as PDF 11256 Federal Register / Vol. 76, No. 40 / Tuesday, March 1, 2011 / Notices (5) An estimate of the total number of respondents and the amount of time estimated for an average respondent to respond: 100 responses at 60 minutes (1.0 hours) per response. (6) An estimate of the total public burden (in hours) associated with the collection: 100 annual burden hours. Comments and/or questions; requests for a copy of the proposed information collection instrument, with instructions; or inquiries for additional information should be directed to: Office of the Chief Financial Officer/OAA/Records Branch, U.S. Immigration and Customs Enforcement, 500 12th Street, SW., STOP 5705, Washington, DC 20536– 5705. Dated: February 23, 2011. John Ramsay, Forms Program Manager, Office of Asset Administration, U.S. Immigration and Customs Enforcement. [FR Doc. 2011–4444 Filed 2–28–11; 8:45 am] BILLING CODE 9111–28–P DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT [Docket No. FR–5484–N–05] Notice of Proposed Information Collection: Comment Request Loan Sales Bidder Qualification Statement Office of the Assistant Secretary for Housing—Federal Housing Commissioner, HUD. ACTION: Notice. AGENCY: The proposed information collection requirement described below will be 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. DATES: Comment due date: May 2, 2011. ADDRESSES: Interested persons are invited to submit comments regarding this proposal. Comments should refer to the proposal by name and/or OMB Control Number and should be sent to: Reports Liaison Office, Department of Housing and Urban Development, 451 7th Street, SW., Washington, DC 20410, Room 9120 or the number for the Federal Information Relay Service (1–800–877–8339). 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 or Gregory Bolton, jlentini on DSKJ8SOYB1PROD with NOTICES SUMMARY: VerDate Mar<15>2010 18:42 Feb 28, 2011 Jkt 223001 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. The Department is submitting the proposed information collection to OMB for review, as required by the Paperwork Reduction Act of 1995 (44 U.S.C. chapter 35, as amended). This Notice is soliciting comments from members of the public and affected agencies concerning the proposed collection of information to: (1) Evaluate whether the proposed collection 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 the use of appropriate automated collection techniques of other forms of information technology, e.g., permitting electronic submission of responses. This notice list the following information: Title of Proposal: HUD Loan Sale Bidder Qualification Statement. OMB Control Number: 2502–0576. Agency Form Numbers, if Applicable: None. Description of the Need for the Information and Proposed Use: The Qualification Statement solicits from Prospective bidders to the HUD Loan Sales the basic qualifications required for bidding including but not limited to, Purchaser Information (Name of Purchaser, Corporate Entity, Address, Tax ID), Business Type, Net Worth, Equity Size, Prior History with HUD Loans and prior sales participation. By executing the Qualification Statement, the purchaser certifies, represents and warrants to HUD that each of the statements included are true and correct as to the purchaser and thereby qualifies them to bid. The Bidder Qualification Statement is released to a pool of approximately 17,000 potential investors, of which approximately 600 respond annually. The estimated number of burden hours needed to prepare the information collection is 300; the frequency of response is on occasion; and the estimated time needed to prepare the response is near thirty (30) minutes and cost on the respondent to complete the SUPPLEMENTARY INFORMATION: PO 00000 Frm 00064 Fmt 4703 Sfmt 4703 statement is estimated to be close to ten (10) dollars. Authority: The Paperwork Reduction Act of 1995, 44 U.S.C. Chapter 35, as amended. Dated: February 23, 2011. Ronald Y. Spraker, Associate General Deputy Assistant Secretary for Housing. [FR Doc. 2011–4411 Filed 2–28–11; 8:45 am] BILLING CODE 4210–67–P DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT [Docket No. FR–5503–N–01] Notice of HUD-Held Healthcare Loan Sale (HCLS 2011–1) Office of the Assistant Secretary for Housing—Federal Housing Commissioner, HUD. ACTION: Notice of sale of mortgage loans. AGENCY: This notice announces HUD’s sale of certain unsubsidized healthcare mortgage loans, without Federal Housing Administration (FHA) insurance, in a competitive, sealed bid sale (HCLS 2011–1). This notice also describes generally the bidding process used for the sale and certain persons who were ineligible to bid. The Bidder’s Information Package (BIP) was made available to qualified bidders late January. Closings are expected to take place by March 10, 2011. FOR FURTHER INFORMATION CONTACT: John Lucey, Deputy Director, Asset Sales Office, Room 3136, U.S. 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 a sale in HCLS 2011–1 of certain unsubsidized mortgage loans (Mortgage Loans) secured by healthcare properties located throughout the United States. The Mortgage Loans were comprised of non-performing mortgage loans. A final listing of the Mortgage Loans was included in the BIP. The Mortgage Loans were sold without FHA insurance and with servicing released. HUD offered qualified bidders an opportunity to bid competitively on the Mortgage Loans. The Mortgage Loans may be stratified for bidding purposes into several mortgage loan pools. Each pool contained Mortgage Loans that generally had similar performance, property type, geographic location, lien position and other characteristics. Qualified bidders SUMMARY: E:\FR\FM\01MRN1.SGM 01MRN1 Federal Register / Vol. 76, No. 40 / Tuesday, March 1, 2011 / Notices were able to submit bids on one or more pools of Mortgage Loans or bid on individual loans. A mortgagor who was a qualified bidder was permitted to submit an individual bid on its own Mortgage Loan. 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. The Bidding Process The BIP described in detail the procedure for bidding in HCLS 2011–1. The BIP also include a standardized non-negotiable loan sale agreement (Loan Sale Agreement). As part of its bid, each bidder was required to submit a deposit equal to the greater of $100,000 or 10% of the bid price. In the event the bidder’s aggregate bid was less than $100,000.00, the minimum deposit was not less than fifty percent (50%) of the bidder’s aggregate bid. HUD evaluated the bids submitted and determined the successful bids in its sole and absolute discretion. If a bidder was successful, the bidder’s deposit was non-refundable and applied toward the purchase price. Deposits were returned to unsuccessful bidders. Closings are scheduled to occur by March 10, 2011. These were the essential terms of sale. The Loan Sale Agreement, which was included in the BIP, contained additional terms and details. To ensure a competitive bidding process, the terms of the bidding process and the Loan Sale Agreement were not subject to negotiation. Bidder Eligibility In order to bid in the sale, a prospective bidder was required to complete, execute and submit both a Confidentiality Agreement and a Qualification Statement acceptable to HUD. The following individuals and entities were ineligible to bid on any of the Mortgage Loans included in HCLS 2011–1: (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; (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, and Title 2 of the Code of Federal Regulations, Part 2424; (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 HCLS 2011–1; (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 HCLS 2011–1; (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 HCLS 2011–1; (7) Any mortgagor (or affiliate of a mortgagor) that failed to submit to HUD on or before January 31, 2011, audited financial statements for fiscal years 2005 through 2010 for a project securing a Mortgage Loan; (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 and or healthcare housing programs and that is in default under such mortgage loan or is in violation of any regulatory or business agreements with HUD, unless jlentini on DSKJ8SOYB1PROD with NOTICES Due Diligence Review The BIP described the due diligence process for reviewing loan files in HCLS 2011–1. Qualified bidders were able to access loan information remotely via a high-speed Internet connection. Mortgage Loan Sale Policy HUD reserved the right to add Mortgage Loans to or delete Mortgage Loans from HCLS 2011–1 at any time prior to the Award Date. HUD also reserved 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 was a sale of unsubsidized mortgage loans, 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). Mortgage Loan Sale Procedure HUD selected a competitive sale as the method to sell the Mortgage Loans. This method of sale optimizes HUD’s VerDate Mar<15>2010 18:42 Feb 28, 2011 Jkt 223001 PO 00000 Frm 00065 Fmt 4703 Sfmt 9990 11257 such default or violation is cured on or before January 31, 2011; (9) Any entity or individual that serviced or held any Mortgage Loan at any time during the 2-year period prior to February 1, 2011, 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 February 1, 2011; and (10) Also ineligible to bid on any Mortgage Loan are: (a) Any affiliate or principal of any entity or individual described in the preceding sentence (subparagraph 9); (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 subparagraph 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 HCLS 2011–1. Freedom of Information Act Requests HUD reserves the right, in its sole and absolute discretion, to disclose information regarding HCLS 2011–1, 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 HCLS 2011–1, 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 HCLS 2011–1 and does not establish HUD’s policy for the sale of other mortgage loans. Dated: February 23, 2011. David Stevens, Assistant Secretary for Housing—Federal Housing Commissioner. [FR Doc. 2011–4408 Filed 2–28–11; 8:45 am] BILLING CODE 4210–67–P E:\FR\FM\01MRN1.SGM 01MRN1

Agencies

[Federal Register Volume 76, Number 40 (Tuesday, March 1, 2011)]
[Notices]
[Pages 11256-11257]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2011-4408]


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DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT

[Docket No. FR-5503-N-01]


Notice of HUD-Held Healthcare Loan Sale (HCLS 2011-1)

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 sale of certain unsubsidized 
healthcare mortgage loans, without Federal Housing Administration (FHA) 
insurance, in a competitive, sealed bid sale (HCLS 2011-1). This notice 
also describes generally the bidding process used for the sale and 
certain persons who were ineligible to bid. The Bidder's Information 
Package (BIP) was made available to qualified bidders late January. 
Closings are expected to take place by March 10, 2011.

FOR FURTHER INFORMATION CONTACT: John Lucey, Deputy Director, Asset 
Sales Office, Room 3136, U.S. Department of Housing and Urban 
Development, 451 Seventh Street, SW., Washington, DC 20410-8000; 
telephone 202-708-2625, extension 3927. Hearing- or speech-impaired 
individuals may call 202-708-4594 (TTY). These are not toll-free 
numbers.

SUPPLEMENTARY INFORMATION: HUD announces a sale in HCLS 2011-1 of 
certain unsubsidized mortgage loans (Mortgage Loans) secured by 
healthcare properties located throughout the United States. The 
Mortgage Loans were comprised of non-performing mortgage loans. A final 
listing of the Mortgage Loans was included in the BIP. The Mortgage 
Loans were sold without FHA insurance and with servicing released. HUD 
offered qualified bidders an opportunity to bid competitively on the 
Mortgage Loans.
    The Mortgage Loans may be stratified for bidding purposes into 
several mortgage loan pools. Each pool contained Mortgage Loans that 
generally had similar performance, property type, geographic location, 
lien position and other characteristics. Qualified bidders

[[Page 11257]]

were able to submit bids on one or more pools of Mortgage Loans or bid 
on individual loans. A mortgagor who was a qualified bidder was 
permitted to submit an individual bid on its own Mortgage Loan.

The Bidding Process

    The BIP described in detail the procedure for bidding in HCLS 2011-
1. The BIP also include a standardized non-negotiable loan sale 
agreement (Loan Sale Agreement).
    As part of its bid, each bidder was required to submit a deposit 
equal to the greater of $100,000 or 10% of the bid price. In the event 
the bidder's aggregate bid was less than $100,000.00, the minimum 
deposit was not less than fifty percent (50%) of the bidder's aggregate 
bid. HUD evaluated the bids submitted and determined the successful 
bids in its sole and absolute discretion. If a bidder was successful, 
the bidder's deposit was non-refundable and applied toward the purchase 
price. Deposits were returned to unsuccessful bidders. Closings are 
scheduled to occur by March 10, 2011.
    These were the essential terms of sale. The Loan Sale Agreement, 
which was included in the BIP, contained additional terms and details. 
To ensure a competitive bidding process, the terms of the bidding 
process and the Loan Sale Agreement were not subject to negotiation.

Due Diligence Review

    The BIP described the due diligence process for reviewing loan 
files in HCLS 2011-1. Qualified bidders were able to access loan 
information remotely via a high-speed Internet connection.

Mortgage Loan Sale Policy

    HUD reserved the right to add Mortgage Loans to or delete Mortgage 
Loans from HCLS 2011-1 at any time prior to the Award Date. HUD also 
reserved 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 was a sale of unsubsidized mortgage loans, 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).

Mortgage Loan Sale Procedure

    HUD selected a competitive sale as the method to sell the Mortgage 
Loans. 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 was required to 
complete, execute and submit both a Confidentiality Agreement and a 
Qualification Statement acceptable to HUD. The following individuals 
and entities were ineligible to bid on any of the Mortgage Loans 
included in HCLS 2011-1:
    (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;
    (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, and Title 2 of the Code of Federal 
Regulations, Part 2424;
    (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 HCLS 2011-1;
    (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 HCLS 2011-1;
    (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 HCLS 2011-1;
    (7) Any mortgagor (or affiliate of a mortgagor) that failed to 
submit to HUD on or before January 31, 2011, audited financial 
statements for fiscal years 2005 through 2010 for a project securing a 
Mortgage Loan;
    (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 and or healthcare 
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 January 31, 2011;
    (9) Any entity or individual that serviced or held any Mortgage 
Loan at any time during the 2-year period prior to February 1, 2011, 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 February 1, 2011; and
    (10) Also ineligible to bid on any Mortgage Loan are: (a) Any 
affiliate or principal of any entity or individual described in the 
preceding sentence (subparagraph 9); (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 subparagraph 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 HCLS 2011-1.

Freedom of Information Act Requests

    HUD reserves the right, in its sole and absolute discretion, to 
disclose information regarding HCLS 2011-1, 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 HCLS 2011-1, 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 HCLS 2011-1 and does not establish HUD's 
policy for the sale of other mortgage loans.

    Dated: February 23, 2011.
David Stevens,
Assistant Secretary for Housing--Federal Housing Commissioner.
[FR Doc. 2011-4408 Filed 2-28-11; 8:45 am]
BILLING CODE 4210-67-P
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