Notice of Single Family Loan Sales, 29797-29799 [2014-12034]

Download as PDF mstockstill on DSK4VPTVN1PROD with NOTICES Federal Register / Vol. 79, No. 100 / Friday, May 23, 2014 / Notices payment standard for a family as a reasonable accommodation if the higher payment standard is within the basic range of 90 to 110 percent of the fair market rent (FMR) for the unit size. Granted By: Sandra B. Henriquez, Assistant Secretary for Public and Indian Housing. Date Granted: January 13, 2014. Reason Waived: The four homeless veterans, who are disabled, required an exception payment standard to move to units in a building that provided services for veterans. To provide this reasonable accommodation so the clients could move to these units and pay no more than 40 percent of their adjusted income toward the family share, the SFHA was allowed to approve an exception payment standard that exceeded the basic range of 90 to 110 percent of the FMR. Contact: Laure Rawson, Director, Housing Voucher Management and Operations Division, Office of Public Housing and Voucher Programs, Office of Public and Indian Housing, Department of Housing and Urban Development, 451 Seventh Street SW., Room 4216, Washington, DC 20410, telephone (202) 708–0477. • Regulation: 24 CFR 982.505(d). Project/Activity: Howard County Housing Commission (HCHC), Howard County, MD. Nature of Requirement: HUD’s regulation at 24 CFR 982.505(d) states that a public housing agency may only approve a higher payment standard for a family as a reasonable accommodation if the higher payment standard is within the basic range of 90 to 110 percent of the fair market rent (FMR) for the unit size. Granted By: Sandra B. Henriquez, Assistant Secretary for Public and Indian Housing. Date Granted: March 14, 2014. Reason Waived: The participant, who is disabled, required an exception payment standard to move to a new unit that met her health needs. To provide this reasonable accommodation so the client could be assisted in a new current unit and pay no more than 40 percent of her adjusted income toward the family share, the HCHC was allowed to approve an exception payment standard that exceeded the basic range of 90 to 110 percent of the FMR Contact: Laure Rawson, Director, Housing Voucher Management and Operations Division, Office of Public Housing and Voucher Programs, Office of Public and Indian Housing, Department of Housing and Urban Development, 451 Seventh Street, SW., Room 4216, Washington, DC 20410, telephone (202) 708–0477. • Regulation: 24 CFR 982.505(d). Project/Activity: New Avenues to Independence, Inc. (NAII), Cleveland, OH. Nature of Requirement: HUD’s regulation at 24 CFR 982.505(d) states that a public housing agency may only approve a higher payment standard for a family as a reasonable accommodation if the higher payment standard is within the basic range of 90 to 110 percent of the fair market rent (FMR) for the unit size. Granted By: Sandra B. Henriquez, Assistant Secretary for Public and Indian Housing. Date Granted: March 31, 2014. Reason Waived: The participant, who is disabled, required an exception payment VerDate Mar<15>2010 18:44 May 22, 2014 Jkt 232001 standard to remain in his current unit that meets his needs without becoming rent burdened. To provide this reasonable accommodation so the client could be assisted in his current unit and pay no more than 40 percent of his adjusted income toward the family share, the NAII was allowed to approve an exception payment standard that exceeded the basic range of 90 to 110 percent of the FMR Contact: Laure Rawson, Director, Housing Voucher Management and Operations Division, Office of Public Housing and Voucher Programs, Office of Public and Indian Housing, Department of Housing and Urban Development, 451 Seventh Street SW., Room 4210, Washington, DC 20410, telephone (202) 708–0477. • Regulation: 24 CFR 983.51(b)(1) and (c). Project/Activity: New York City Department of Housing Preservation and Development (NYCDHPD), New York City, NY. Nature of Requirement: HUD’s regulation at 24 CFR 983.51 states the competitive selection and alternate selection requirements of project-based voucher (PBV) units. Granted By: Sandra B. Henriquez, Assistant Secretary for Public and Indian Housing Date Granted: January 6, 2014. Reason Waived: The waiver was approved so that NYCDHPD could add an additional 15 percent of the 1,093 units in Ocean Village to the 103 units that were converted under the Rental Assistance Demonstration program due to the surge in housing need from the displacement of many homeowners due to Hurricane Sandy. Contact: Laure Rawson, Director, Housing Voucher Management and Operations Division, Office of Public Housing and Voucher Programs, Office of Public and Indian Housing, Department of Housing and Urban Development, 451 Seventh Street SW., Room 4216, Washington, DC 20410, telephone (202) 708–0477. • Regulation: 24 CFR 983.59(b)(1). Project/Activity: Scott County Community Development Agency (SCDDA), Shakopee, MN. Nature of Requirement: HUD’s regulation at 24 CFR 983.59(b)(1) states that the rent to owner for public housing agency (PHA) owned units is determined according to the same requirements as for other project-based voucher (PBV) units, except that the independent entity approved by HUD must establish the initial contract rents based on an appraisal by a licensed, state-certified appraiser. Granted By: Sandra B. Henriquez, Assistant Secretary for Public and Indian Housing. Date Granted: January 6, 2014. Reason Waived: This waiver was approved to provide partial relief from these requirements. Contact: Laure Rawson, Director, Housing Voucher Management and Operations Division, Office of Public Housing and Voucher Programs, Office of Public and Indian Housing, Department of Housing and Urban Development, 451 Seventh Street SW., Room 4216, Washington, DC 20410, telephone (202) 708–0477. PO 00000 Frm 00059 Fmt 4703 Sfmt 4703 29797 • Regulation: 24 CFR 983.59(b)(1). Project/Activity: Housing Authority of Snohomish County (HASC), Everett, WA. Nature of Requirement: HUD’s regulation at 24 CFR 983.59(b)(1) states that the rent to owner for public housing agency (PHA) owned units is determined according to the same requirements as for other project-based voucher (PBV) units, except that the independent entity approved by HUD must establish the initial contract rents based on an appraisal by a licensed, state-certified appraiser. Granted By: Sandra B. Henriquez, Assistant Secretary for Public and Indian Housing. Date Granted: March 18, 2014. Reason Waived: This waiver was approved to provide partial relief from these requirements. Contact: Laure Rawson, Director, Housing Voucher Management and Operations Division, Office of Public Housing and Voucher Programs, Office of Public and Indian Housing, Department of Housing and Urban Development, 451 Seventh Street SW., Room 4216, Washington, DC 20410, telephone (202) 708–0477. • Regulation: 24 CFR 983.301(b)(1). Project/Activity: Michigan State Housing Development Authority (MSHDA). Lansing, MI. Nature of Requirement: HUD’s regulation at 24 CFR 983.301(b)(1) allows the rent to owner to go below the initial rent in projectbased voucher (PBV) units. Granted By: Sandra B. Henriquez, Assistant Secretary for Public and Indian Housing. Date Granted: January 2, 2014. Reason Waived: The waiver was approved to allow MSHDA to apply provisions of the proposed rule to avoid a major operating deficit Contact: Laure Rawson, Director, Housing Voucher Management and Operations Division, Office of Public Housing and Voucher Programs, Office of Public and Indian Housing, Department of Housing and Urban Development, 451 Seventh Street SW., Room 4216, Washington, DC 20410, telephone (202) 708–0477. [FR Doc. 2014–12011 Filed 5–22–14; 8:45 am] BILLING CODE 4210–67–P DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT [Docket No. FR–5748–N–02] Notice of Single Family Loan Sales Office of the Assistant Secretary for Housing-Federal Housing Commissioner, HUD. ACTION: Notice of sales of mortgage loans. AGENCY: This notice announces HUD’s intention to competitively sell certain unsubsidized single family mortgage loans, in a sealed bid sale offering called SFLS 2014–2, without Federal Housing Administration (FHA) mortgage insurance. This notice also generally SUMMARY: E:\FR\FM\23MYN1.SGM 23MYN1 29798 Federal Register / Vol. 79, No. 100 / Friday, May 23, 2014 / Notices describes the bidding process for the sale and certain persons who are ineligible to bid. This is the second sale of Fiscal Year (FY) 2014 and the offerings will be held on June 11, 2014, and June 25, 2014. DATES: For this sale action, the Bidder’s Information Package (BIP) was made available to qualified bidders on or about May 12, 2014. Bids for the SFLS 2014–2 sale will be accepted on two Bid Dates and must be submitted on those dates, which are currently scheduled for June 11, 2014, and June 25, 2014 (Bid Dates). HUD anticipates that award(s) will be made on or about June 12, 2014, for the first offering and June 26, 2014 for the second (the Award Dates). 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 are available via the HUD Web site at: https:// www.hud.gov/sfloansales or via: https:// www.DebtX.com. Please mail and fax executed documents to SEBA Professional Services: SEBA Professional Services, c/o The Debt Exchange, 133 Federal Street, 10th Floor, Boston, MA 02111, Attention: HUD SFLS Loan Sale Coordinator, Fax: 1–617–531–3499. FOR FURTHER INFORMATION CONTACT: John Lucey, Director, Asset Sales Office, Room 3136, Department of Housing and Urban Development, 451 Seventh Street SW., Washington, DC 20410–8000; telephone number 202–708–2625, extension 3927. Hearing- or speechimpaired individuals may call 202–708– 4594 (TTY). These are not toll-free numbers. HUD announces its intention to sell in SFLS 2014–2 certain unsubsidized nonperforming mortgage loans (Mortgage Loans) secured by single-family properties located throughout the United States. A listing of the Mortgage Loans is included in the due diligence materials made available to qualified bidders. 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 Loans will be offered on two sale dates. On June 11, 2014, the Department will offer national loan pools for bid. On June 25, 2014, the Department will offer regionally-based pools, with additional purchaser requirements, that are called mstockstill on DSK4VPTVN1PROD with NOTICES SUPPLEMENTARY INFORMATION: VerDate Mar<15>2010 18:44 May 22, 2014 Jkt 232001 the Neighborhood Stabilization Outcome pools. The Bidding Process The BIP describes in detail the procedure for bidding in SFLS 2014–2. The BIP also includes a standardized non-negotiable Conveyance, Assignment and Assumption Agreement (CAA Agreement). Qualified bidders will be required to submit a deposit with their bid. Deposits are calculated based upon each qualified bidder’s aggregate bid price. HUD will evaluate the bids submitted and determine the successful bid, in terms of the best value to HUD, in its sole and absolute discretion. If a qualified bidder is successful, the qualified bidder’s deposit will be nonrefundable and will be applied toward the purchase price. Deposits will be returned to unsuccessful bidders. For SFLS2014–2, settlements are expected to take place on or about July 25, 2014, and August 25, 2014. This notice provides some of the basic terms of sale. The CAA Agreement, which is included in the BIP, provides comprehensive contractual terms and conditions. To ensure a competitive bidding process, the terms of the bidding process and the CAA Agreement are not subject to negotiation. Due Diligence Review The BIP describes how qualified bidders may access the due diligence materials remotely via a high-speed Internet connection. Mortgage Loan Sale Policy HUD reserves the right to remove Mortgage Loans from SFLS 2014–2 at any time prior to the Award Date. HUD also reserves the right to reject any and all bids, in whole or in part, and include any Mortgage Loans in a later sale. Deliveries of Mortgage Loans will occur in at least two monthly settlements and the number of Mortgage Loans delivered will vary depending upon the number of Mortgage Loans the Participating Servicers have submitted for the payment of an FHA insurance claim. The Participating Servicers will not be able to submit claims on loans that are not included in the Mortgage Loan Portfolio set forth in the BIP. There can be no assurance that any Participating Servicer will deliver a minimum number of Mortgage Loans to HUD or that a minimum number of Mortgage Loans will be delivered to the Purchaser. The SFLS 2014–2 Mortgage Loans are assigned to HUD pursuant to section 204(a)(1)(A) of the National Housing Act PO 00000 Frm 00060 Fmt 4703 Sfmt 4703 as amended under Title VI of the Departments of Veterans Affairs and Housing and Urban Development and Independent Agencies Appropriations Act, 1999. The sale of the Mortgage Loans is pursuant to section 204(g) of the National Housing Act. Mortgage Loan Sale Procedure HUD selected an open competitive whole-loan sale as the method to sell the Mortgage Loans for this specific sale transaction. For SFLS 2014–2, HUD has determined that 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 Ineligibility In order to bid in SFLS 2014–2 as a qualified bidder, a prospective bidder must complete, execute and submit both a Confidentiality Agreement and a Qualification Statement acceptable to HUD and applicable to the loan pool being purchased. If any of the following apply to (i) a prospective bidder, (ii) a prospective bidder’s direct parent,, (iii) a prospective bidder’s subsidiaries, and (iv) any entity with which the prospective bidder shares a common officer, director, subcontractor or subcontractor who has access to Confidential information as defined in the Confidentiality Agreement or is involved in the formation of a bid transaction (‘‘Related Entities’’) or (v) a prospective bidder’s repurchase lenders then the prospective bidder is ineligible to bid on any of the Mortgage Loans included in SFLS unless other exceptions apply as provided for in the Qualification Statement: 1. The prospective bidder is an 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 with household to be inclusive of the employee’s father, mother, stepfather, stepmother, brother, sister, stepbrother, stepsister, son, daughter, stepson, stepdaughter, grandparent, grandson, granddaughter, father-in-law, mother-in-law, brother-inlaw, sister-in-law, son-in-law, daughterin-law, first cousin, the spouse of any of the foregoing, and the employee’s spouse.; 2. The prospective bidder is an individual or entity that is currently debarred, suspended, or excluded from doing business with HUD pursuant to the Governmentwide Suspension and Debarment regulations at title 2 of the E:\FR\FM\23MYN1.SGM 23MYN1 mstockstill on DSK4VPTVN1PROD with NOTICES Federal Register / Vol. 79, No. 100 / Friday, May 23, 2014 / Notices Code of Federal Regulations, parts 180 and 2424. 3. The prospective bidder is an individual or entity that has been suspended, debarred or otherwise restricted by any Department or Agency of the Federal Government or of a State Government from doing business with such Department or Agency. 4. The prospective bidder is an individual or entity that has been debarred, suspended, or excluded from doing mortgage related business, including having a business license suspended, surrendered or revoked, by any federal, state or local government agency, division or department; 5. The prospective bidder is an individual or entity that knowingly acquired or will acquire prior to the Sale Date material non-public information, other than the information which is made available to the prospective bidder by HUD pursuant to the terms of the Qualification Statement, about Mortgage Loans offered in the sale; 6. The prospective bidder is a 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 single family asset sales; 7. The prospective bidder is an individual or entity that uses the services, directly or indirectly, of any person or entity ineligible under subparagraphs 2 through 4 above to assist in preparing any of its bids on the Mortgage Loans; 8. The prospective bidder is an 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 single family asset sales; 9. The prospective bidder is an entity or individual that serviced or held any Mortgage Loan at any time during the 2year period prior to the Award Date; 10. The prospective bidder is an entity or individual that is: (a) Any affiliate or principal of any entity or individual described in the preceding sentence (sub-paragraph 9); (b) any employee or subcontractor of such entity or individual during that 2-year period prior to Award Date; 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; or 12. The prospective bidder is an entity that has had its right to act as a Government National Mortgage Association (Ginnie Mae) issuer and its interest in mortgages backing Ginnie VerDate Mar<15>2010 18:44 May 22, 2014 Jkt 232001 Mae mortgage-backed securities extinguished and terminated by Ginnie Mae. Freedom of Information Act Requests HUD reserves the right, in its sole and absolute discretion, to disclose information regarding SFLS 2014–2, including, but not limited to, the identity of any successful qualified 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 SFLS 2014–2, HUD will 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 SFLS 2014–2 and does not establish HUD’s policy for the sale of other mortgage loans. Dated: May 15, 2014. Laura Marin, Associate General Deputy Assistant Secretary for Housing-Associate Deputy Federal Housing Commissioner. [FR Doc. 2014–12034 Filed 5–22–14; 8:45 am] BILLING CODE 4210–47–P DEPARTMENT OF THE INTERIOR Office of the Secretary [DS10100000/133D5670LC/ DLCAP0000.000000/DX.10120] Land Buy-Back Program for Tribal Nations under Cobell Settlement. Office of the Deputy Secretary, Interior. ACTION: Notice of tribal listening session; correction. AGENCY: The Office of the Secretary previously announced that it will conduct a listening session on the status of implementation of the Land Buy-Back Program for Tribal Nations. The purpose of the session is to meet with Indian tribes to discuss progress to date and receive feedback. Indian landowners may also attend to provide input. This notice corrects the previously published notice to provide RSVP and testimony information and an agenda. DATES: The listening session will take place on May 29, 2014, from 1 p.m.–4 p.m. Pacific Time. Please RSVP by May 27, 2014. ADDRESSES: The listening session will take place at the Federal Building, Auditorium, 911 NE 11th Avenue, Portland, OR 97232–4128. Please RSVP SUMMARY: PO 00000 Frm 00061 Fmt 4703 Sfmt 4703 29799 via email or telephone to Genevieve Giaccardo, buybackprogram@ios.doi.gov or (202) 208–1541. FOR FURTHER INFORMATION CONTACT: Genevieve Giaccardo, Senior Advisor on Tribal Relations, (202) 208–1541. SUPPLEMENTARY INFORMATION: I. Background The Cobell Settlement was approved with finality on November 24, 2012, following the exhaustion of appeals through the U.S. Supreme Court. Within a month following final approval, the Department of the Interior (the Department) established the Land BuyBack Program for Tribal Nations (BuyBack Program) and published an Initial Implementation Plan. The Department engaged in government-to-government consultation on this plan and released an Updated Implementation Plan in November 2013. The Department is currently implementing the Buy-Back Program at multiple locations across Indian Country. Since November 24, 2012, the Department has sent offers to over 19,000 landowners. Thus far, Interior has paid nearly $60 million to Indian landowners across the United States for voluntarily restoring the equivalent of more than 170,000 acres of land to tribal governments. Tribal governments are helping plan for and implement the Buy-Back Program at specific locations through cooperative agreements or other arrangements. The purpose of this session is to gather input from tribes in order for the Department to continue to refine its land consolidation processes. Landowners may also attend the session to provide input. II. Additional Resources The Updated Implementation Plan and additional information about the Buy-Back Program is available at: https:// www.doi.gov/buybackprogram. In addition, landowners can contact their local Fiduciary Trust Officer or call Interior’s Trust Beneficiary Call Center at (888) 678–6836. III. Listening Session Details Time and date: May 29, 2014, 1 p.m.– 4 p.m. PT. Place: Federal Building, Auditorium, 911 NE. 11th Avenue, Portland, OR 97232–4128. Please RSVP by May 27, 2014 to Genevieve Giaccardo. Written comments will be accepted prior to, during, or directly after the meeting. Due to time constraints during the meeting, written comments cannot be read but will be incorporated into the record. E:\FR\FM\23MYN1.SGM 23MYN1

Agencies

[Federal Register Volume 79, Number 100 (Friday, May 23, 2014)]
[Notices]
[Pages 29797-29799]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2014-12034]


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

DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT

[Docket No. FR-5748-N-02]


Notice of Single Family Loan Sales

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

ACTION: Notice of sales of mortgage loans.

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

SUMMARY: This notice announces HUD's intention to competitively sell 
certain unsubsidized single family mortgage loans, in a sealed bid sale 
offering called SFLS 2014-2, without Federal Housing Administration 
(FHA) mortgage insurance. This notice also generally

[[Page 29798]]

describes the bidding process for the sale and certain persons who are 
ineligible to bid. This is the second sale of Fiscal Year (FY) 2014 and 
the offerings will be held on June 11, 2014, and June 25, 2014.

DATES: For this sale action, the Bidder's Information Package (BIP) was 
made available to qualified bidders on or about May 12, 2014. Bids for 
the SFLS 2014-2 sale will be accepted on two Bid Dates and must be 
submitted on those dates, which are currently scheduled for June 11, 
2014, and June 25, 2014 (Bid Dates). HUD anticipates that award(s) will 
be made on or about June 12, 2014, for the first offering and June 26, 
2014 for the second (the Award Dates).

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 are available via the HUD Web site at: https://www.hud.gov/sfloansales or via: https://www.DebtX.com.
    Please mail and fax executed documents to SEBA Professional 
Services:

SEBA Professional Services,
c/o The Debt Exchange,
133 Federal Street, 10th Floor,
Boston, MA 02111,
Attention: HUD SFLS Loan Sale Coordinator,
Fax: 1-617-531-3499.

FOR FURTHER INFORMATION CONTACT: John Lucey, Director, Asset Sales 
Office, Room 3136, Department of Housing and Urban Development, 451 
Seventh Street SW., Washington, DC 20410-8000; telephone number 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 its intention to sell in SFLS 
2014-2 certain unsubsidized non-performing mortgage loans (Mortgage 
Loans) secured by single-family properties located throughout the 
United States. A listing of the Mortgage Loans is included in the due 
diligence materials made available to qualified bidders. 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 Loans will be offered on two sale dates. On June 11, 2014, the 
Department will offer national loan pools for bid. On June 25, 2014, 
the Department will offer regionally-based pools, with additional 
purchaser requirements, that are called the Neighborhood Stabilization 
Outcome pools.

The Bidding Process

    The BIP describes in detail the procedure for bidding in SFLS 2014-
2. The BIP also includes a standardized non-negotiable Conveyance, 
Assignment and Assumption Agreement (CAA Agreement). Qualified bidders 
will be required to submit a deposit with their bid. Deposits are 
calculated based upon each qualified bidder's aggregate bid price.
    HUD will evaluate the bids submitted and determine the successful 
bid, in terms of the best value to HUD, in its sole and absolute 
discretion. If a qualified bidder is successful, the qualified bidder's 
deposit will be non-refundable and will be applied toward the purchase 
price. Deposits will be returned to unsuccessful bidders. For SFLS2014-
2, settlements are expected to take place on or about July 25, 2014, 
and August 25, 2014.
    This notice provides some of the basic terms of sale. The CAA 
Agreement, which is included in the BIP, provides comprehensive 
contractual terms and conditions. To ensure a competitive bidding 
process, the terms of the bidding process and the CAA Agreement are not 
subject to negotiation.

Due Diligence Review

    The BIP describes how qualified bidders may access the due 
diligence materials remotely via a high-speed Internet connection.

Mortgage Loan Sale Policy

    HUD reserves the right to remove Mortgage Loans from SFLS 2014-2 at 
any time prior to the Award Date. HUD also reserves the right to reject 
any and all bids, in whole or in part, and include any Mortgage Loans 
in a later sale. Deliveries of Mortgage Loans will occur in at least 
two monthly settlements and the number of Mortgage Loans delivered will 
vary depending upon the number of Mortgage Loans the Participating 
Servicers have submitted for the payment of an FHA insurance claim. The 
Participating Servicers will not be able to submit claims on loans that 
are not included in the Mortgage Loan Portfolio set forth in the BIP.
    There can be no assurance that any Participating Servicer will 
deliver a minimum number of Mortgage Loans to HUD or that a minimum 
number of Mortgage Loans will be delivered to the Purchaser.
    The SFLS 2014-2 Mortgage Loans are assigned to HUD pursuant to 
section 204(a)(1)(A) of the National Housing Act as amended under Title 
VI of the Departments of Veterans Affairs and Housing and Urban 
Development and Independent Agencies Appropriations Act, 1999. The sale 
of the Mortgage Loans is pursuant to section 204(g) of the National 
Housing Act.

Mortgage Loan Sale Procedure

    HUD selected an open competitive whole-loan sale as the method to 
sell the Mortgage Loans for this specific sale transaction. For SFLS 
2014-2, HUD has determined that 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 Ineligibility

    In order to bid in SFLS 2014-2 as a qualified bidder, a prospective 
bidder must complete, execute and submit both a Confidentiality 
Agreement and a Qualification Statement acceptable to HUD and 
applicable to the loan pool being purchased. If any of the following 
apply to (i) a prospective bidder, (ii) a prospective bidder's direct 
parent,, (iii) a prospective bidder's subsidiaries, and (iv) any entity 
with which the prospective bidder shares a common officer, director, 
subcontractor or sub-contractor who has access to Confidential 
information as defined in the Confidentiality Agreement or is involved 
in the formation of a bid transaction (``Related Entities'') or (v) a 
prospective bidder's repurchase lenders then the prospective bidder is 
ineligible to bid on any of the Mortgage Loans included in SFLS unless 
other exceptions apply as provided for in the Qualification Statement:
    1. The prospective bidder is an 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 with household to be 
inclusive of the employee's father, mother, stepfather, stepmother, 
brother, sister, stepbrother, stepsister, son, daughter, stepson, 
stepdaughter, grandparent, grandson, granddaughter, father-in-law, 
mother-in-law, brother-in-law, sister-in-law, son-in-law, daughter-in-
law, first cousin, the spouse of any of the foregoing, and the 
employee's spouse.;
    2. The prospective bidder is an individual or entity that is 
currently debarred, suspended, or excluded from doing business with HUD 
pursuant to the Governmentwide Suspension and Debarment regulations at 
title 2 of the

[[Page 29799]]

Code of Federal Regulations, parts 180 and 2424.
    3. The prospective bidder is an individual or entity that has been 
suspended, debarred or otherwise restricted by any Department or Agency 
of the Federal Government or of a State Government from doing business 
with such Department or Agency.
    4. The prospective bidder is an individual or entity that has been 
debarred, suspended, or excluded from doing mortgage related business, 
including having a business license suspended, surrendered or revoked, 
by any federal, state or local government agency, division or 
department;
    5. The prospective bidder is an individual or entity that knowingly 
acquired or will acquire prior to the Sale Date material non-public 
information, other than the information which is made available to the 
prospective bidder by HUD pursuant to the terms of the Qualification 
Statement, about Mortgage Loans offered in the sale;
    6. The prospective bidder is a 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 single family asset 
sales;
    7. The prospective bidder is an individual or entity that uses the 
services, directly or indirectly, of any person or entity ineligible 
under subparagraphs 2 through 4 above to assist in preparing any of its 
bids on the Mortgage Loans;
    8. The prospective bidder is an 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 single family asset 
sales;
    9. The prospective bidder is an entity or individual that serviced 
or held any Mortgage Loan at any time during the 2-year period prior to 
the Award Date;
    10. The prospective bidder is an entity or individual that is: (a) 
Any affiliate or principal of any entity or individual described in the 
preceding sentence (sub-paragraph 9); (b) any employee or subcontractor 
of such entity or individual during that 2-year period prior to Award 
Date; 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; or
    12. The prospective bidder is an entity that has had its right to 
act as a Government National Mortgage Association (Ginnie Mae) issuer 
and its interest in mortgages backing Ginnie Mae mortgage-backed 
securities extinguished and terminated by Ginnie Mae.

Freedom of Information Act Requests

    HUD reserves the right, in its sole and absolute discretion, to 
disclose information regarding SFLS 2014-2, including, but not limited 
to, the identity of any successful qualified 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 SFLS 2014-2, HUD will 
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 SFLS 2014-2 and does not establish HUD's 
policy for the sale of other mortgage loans.

    Dated: May 15, 2014.
Laura Marin,
Associate General Deputy Assistant Secretary for Housing-Associate 
Deputy Federal Housing Commissioner.
[FR Doc. 2014-12034 Filed 5-22-14; 8:45 am]
BILLING CODE 4210-47-P
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