Notice of HUD-Held Multifamily Loan Sale (MLS 2018-1), 50438-50440 [2017-23677]

Download as PDF 50438 Federal Register / Vol. 82, No. 209 / Tuesday, October 31, 2017 / Notices Name of Committee: Center for Scientific Review Special Emphasis Panel; Small Business: HIV/AIDS Innovative Research Applications. Date: November 30, 2017. Time: 1:00 p.m. to 4:00 p.m. Agenda: To review and evaluate grant applications. Place: National Institutes of Health, 6701 Rockledge Drive, Bethesda, MD 20892 (Virtual Meeting). Contact Person: Mark P. Rubert, Ph.D., Scientific Review Officer, Center for Scientific Review, National Institutes of Health, 6701 Rockledge Drive, Room 5218, MSC 7852, Bethesda, MD 20892, 301–435– 1775, rubertm@csr.nih.gov. (Catalogue of Federal Domestic Assistance Program Nos. 93.306, Comparative Medicine; 93.333, Clinical Research, 93.306, 93.333, 93.337, 93.393–93.396, 93.837–93.844, 93.846–93.878, 93.892, 93.893, National Institutes of Health, HHS) Dated: October 26, 2017. Melanie J. Pantoja, Program Analyst, Office of Federal Advisory Committee Policy. [FR Doc. 2017–23638 Filed 10–30–17; 8:45 am] BILLING CODE 4140–01–P DEPARTMENT OF HOMELAND SECURITY Coast Guard [Docket No. USCG–2017–0194] Waterway Suitability Assessment for Operation of Liquefied Hazardous Gas Terminal; Port Arthur, TX Coast Guard, DHS. Request for comments; extension of comment period. AGENCY: ACTION: We are extending the comment period on the subject request for comments that we published August 14, 2017. We are extending the deadline by 30 days because interested parties indicated the need for additional time to respond due to the effects from Hurricane Harvey. The comment period is now open through November 30, 2017. DATES: Comments and related material must be received on or before November 30, 2017. ADDRESSES: You may submit comments identified by docket number USCG– 2017–0194 using the Federal eRulemaking Portal at https:// www.regulations.gov. See the ‘‘Public Participation and Request for Comments’’ portion of the SUPPLEMENTARY INFORMATION section below for further instructions on submitting comments. FOR FURTHER INFORMATION CONTACT: If you have questions on this notice, call asabaliauskas on DSKBBXCHB2PROD with NOTICES SUMMARY: VerDate Sep<11>2014 17:37 Oct 30, 2017 Jkt 244001 or email Commander Loan T. O’Brien, U.S. Coast Guard; telephone 409–723– 6564, email, Loan.T.O’Brien@uscg.mil. The Coast Guard is extending the comment period on the request for comments entitled ‘‘Waterway Suitability Assessment for Operation of Liquefied Hazardous Gas Terminal; Port Arthur, TX’’ that we published in the Federal Register on August 14, 2017 (82 FR 37887). We are extending the comment period by 30 days to allow interested persons more time to comment. You may not submit comments through November 30, 2017. SUPPLEMENTARY INFORMATION: Public Participation and Request for Comments We encourage you to submit comments and related material in response to this notice through the Federal eRulemaking Portal at https:// www.regulations.gov. We will consider all submissions and may adjust our final action based on your comments. If you submit a comment, please include the docket number for this notice, indicate the specific section of this document to which each comment applies, and provide a reason for each suggestion or recommendation. If your material cannot be submitted using https://www.regulations.gov, contact the person in the FOR FURTHER INFORMATION CONTACT section of this document for alternate instructions. Documents mentioned in this notice, and all public comments, are in our online docket at https:// www.regulations.gov and can be viewed by following that Web site’s instructions. Additionally, if you go to the online docket and sign up for email alerts, you will be notified when comments are posted or a final rule is published. To view comments, go to https://www.regulations.gov, type the docket number ‘‘USCG–2017–0194’’ in the ‘‘SEARCH’’ box and click ‘‘SEARCH.’’ Click on ‘‘Open Docket Folder’’ on the line associated with this notice and request for comments. We accept anonymous comments. All comments received will be posted without change to https:// www.regulations.gov and will include any personal information you have provided. For more about privacy and the docket, you may review a Privacy Act notice regarding the Federal Docket Management System in the March 24, 2005, issue of the Federal Register (70 FR 15086). PO 00000 Frm 00068 Fmt 4703 Sfmt 4703 Dated: October 25, 2017. Jaqueline Twomey, Captain, U.S. Coast Guard, Captain of the Port, Port Arthur. [FR Doc. 2017–23578 Filed 10–30–17; 8:45 am] BILLING CODE 9110–04–P DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT [Docket No. FR–6062–N–01] Notice of HUD-Held Multifamily Loan Sale (MLS 2018–1) Office of the Assistant Secretary for Housing—Federal Housing Commissioner, HUD. ACTION: Notice of sale of two multifamily mortgage loans. AGENCY: This notice announces HUD’s intention to sell two unsubsidized multifamily mortgage loans, without Federal Housing Administration (FHA) insurance, in a competitive, sealed bid sale on or about November 8, 2017 (MLS 2018–1 or Loan Sale). This notice also describes generally the bidding process for the sale and certain persons who are ineligible to bid. DATES: A Bidder’s Information Package (BIP) was made available on October 11, 2017 on the HUD Web site at www.hud.gov/fhaloansales. Bids for the loans must be submitted on the bid date, which is currently scheduled for November 8, 2017 between certain specified hours. HUD anticipates that an award or awards will be made on or before November 9, 2017. Closing is expected to take place between November 17, 2017 and November 20, 2017. SUMMARY: 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 www.hud.gov/ fhaloansales. Please fax or email as well as mail executed original documents to JS Watkins Realty Partners, LLC: JS Watkins Realty Partners, LLC, c/o The Debt Exchange, 133 Federal Street, 10th Floor, Boston, MA 02111, Attention: MLS 2018–1 Sale Coordinator, Fax: 1– 978–967–8607, Email: mls2018-1@ debtx.com. ADDRESSES: John Lucey, Director, Asset Sales Office, Room 3136, U.S. Department of Housing and Urban Development, 451 Seventh Street SW., Washington, DC 20410– 8000; telephone 202–402–3927. Hearing- or speech-impaired individuals FOR FURTHER INFORMATION CONTACT: E:\FR\FM\31OCN1.SGM 31OCN1 Federal Register / Vol. 82, No. 209 / Tuesday, October 31, 2017 / Notices asabaliauskas on DSKBBXCHB2PROD with NOTICES may call 202–708–4594 (TTY). These are not toll-free numbers. SUPPLEMENTARY INFORMATION: HUD announces its intention to sell, in MLS 2018–1, two (2) unsubsidized first lien mortgage loans (Mortgage Loans) secured by two multifamily properties located in Waynesville, Missouri, and Amarillo, Texas. The Mortgage Loans are non-performing mortgage loans. The listing of the Mortgage Loans is included in the BIP. The Mortgage Loans will be sold without FHA insurance and with HUD servicing released. HUD will offer qualified bidders an opportunity to bid competitively on the Mortgage Loans. Qualified bidders may submit bids on one or more of the Mortgage Loans. The Qualification Statement describes the entities/individuals that may be qualified to bid on the Mortgage Loans if they meet certain requirements as detailed in the Qualification Statement. Some entities/individuals must meet additional requirements in order to be qualified to bid, including but not limited to: Any mortgagee/servicer who originated one or more of the Mortgage Loans; a mortgagor or an operator, with respect to any HUD insured or subsidized mortgage loan (excluding the Mortgage Loans being offered in the Loan Sale) who is currently in default, violation, or noncompliance with one or more of HUD’s requirements or business agreements; and a limited partner, nonmanaging member, investor and/or shareholder who owns a 1% or less interest in one or more of the Mortgage Loans, or in the project securing one or more of the Mortgage Loans; and any of the aforementioned entities’/ individuals’ principals, affiliates, family members, and assigns. Interested entities/individuals who fall into one of these categories should review the Qualification Statement to determine whether they may be eligible to qualify to submit a bid on the Mortgage Loans. Other entities/ individuals not described herein may also be restricted from bidding on the Mortgage Loans, as fully detailed in the Qualification Statement. The Bidding Process The BIP describes in detail the procedure for bidding in MLS 2018–1. The BIP also includes a standardized non-negotiable loan sale agreement (Loan Sale Agreement). As part of its bid, each bidder must submit a minimum deposit of the greater of One Hundred Thousand Dollars ($100,000) or ten percent (10%) of the aggregate bid prices for all of such Bidder’s bids. In the event the Bidder’s VerDate Sep<11>2014 17:37 Oct 30, 2017 Jkt 244001 aggregate bid is less than One Hundred Thousand Dollars ($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 bid(s) 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, with any amount beyond the purchase price being returned to the bidder. Deposits will be returned to unsuccessful bidders after notification to sucessful bidders on or before November 13, 2017. Closings are expected to take place between November 17, 2017 and November 20, 2017. These are the essential terms of sale. The Loan Sale Agreement, which is included in the BIP, contains 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 describes the due diligence process for reviewing loan files in MLS 2018–1. 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 is provided in the BIP. Mortgage Loan Sale Policy HUD reserves the right to add Mortgage Loans to or delete Mortgage Loans from MLS 2018–1 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 the Mortgage Loans in a later sale. The Mortgage Loans will not be withdrawn after the award date except as is specifically provided for in the Loan Sale Agreement. This is a sale of unsubsidized multifamily 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 most efficient vehicle for HUD to dispose of the Mortgage Loans. PO 00000 Frm 00069 Fmt 4703 Sfmt 4703 50439 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 among those INELIGIBLE to bid on the Mortgage Loans being sold in MLS 2018–1: 1. A mortgagor, including its principals, affiliates, family members, and assigns, with respect to one or more of the Mortgage Loans being offered in the Loan Sale, or an Active Shareholder (as such term is defined in the Qualification Statement); 2. 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 or operator with respect to any of HUD’s multifamily and/or healthcare programs (excluding the Mortgage Loans being offered in the Loan Sale) and that has failed to file financial statements or is otherwise in default under such mortgage loan or is in violation or noncompliance of any regulatory or business agreements with HUD and fails to cure such default or violation by no later than October 25, 2017; 3. Any individual or entity that is debarred, suspended, or excluded from doing business with HUD pursuant to Title 2 of the Code of Federal Regulations, Part 2424; 4. 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 MLS 2018–1; 5. Any employee of HUD, a member of such employee’s family, or an entity owned or controlled by any such employee or member of such an employee’s family; 6. Any individual or entity that uses the services, directly or indirectly, of any person or entity ineligible under provisions (3) through (5) above to assist in preparing its bid on any Mortgage Loan; 7. An FHA-approved mortgagee, including any principals, affiliates, or assigns thereof, that has received FHA insurance benefits for one or more of the Mortgage Loans being offered in the Loan Sale; 8. An FHA-approved mortgagee and/or loan servicer, including any principals, affiliates, or assigns thereof, that originated one or more of the Mortgage Loans being offered in the Loan Sale if the Mortgage Loan defaulted within two years of E:\FR\FM\31OCN1.SGM 31OCN1 50440 Federal Register / Vol. 82, No. 209 / Tuesday, October 31, 2017 / Notices origination and resulted in the payment of an FHA insurance claim; 9. Any affiliate, principal or employee of any person or entity that, within the two-year period prior to November 1, 2017, serviced any Mortgage Loan or performed other services for or on behalf of HUD; 10. Any contractor or subcontractor to HUD that otherwise had access to information concerning any Mortgage Loan on behalf of HUD or provided services to any person or entity which, within the two-year period prior to November 1, 2017, had access to information with respect to the Mortgage Loan on behalf of HUD; and/or 11. Any employee, officer, director or any other person that provides or will provide services to the prospective bidder with respect to the Mortgage Loans during any warranty period established for the Loan Sale, that serviced the Mortgage Loans or performed other services for or on behalf of HUD or within the two-year period prior to November 1, 2017, provided services to any person or entity which serviced, performed services or otherwise had access to information with respect to any Mortgage Loan for or on behalf of HUD. Other entities/individuals not described herein may also be restricted from bidding on the Mortgage Loans, as fully detailed in the Qualification Statement. The Qualification Statement provides further details pertaining to eligibility requirements. Prospective bidders should carefully review the Qualification Statement to determine whether they are eligible to submit bids on the Mortgage Loans in MLS 2018–1. [FR Doc. 2017–23677 Filed 10–30–17; 8:45 am] DEPARTMENT OF THE INTERIOR Bureau of Land Management [LLMT926000 L19100000.BK0000 LRCSEX602400 XXX MO #4500112703] Notice of Proposed Filing of Plats of Survey, South Dakota Bureau of Land Management, Interior. ACTION: Notice of proposed official filing. AGENCY: Scope of Notice This notice applies to MLS 2018–1 and does not establish HUD’s policy for the sale of other mortgage loans. Black Hills Meridian, South Dakota T. 2 S., R. 15 E. Secs. 35 and 36. HUD reserves the right, in its sole and absolute discretion, to disclose information regarding MLS 2018–1, including, but not limited to, the identity of any successful bidder and its bid price or bid percentage for the Mortgage Loans, upon the closing of the sale of the Mortgage Loans. Even if HUD elects not to publicly disclose any information relating to MLS 2018–1, 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. VerDate Sep<11>2014 17:37 Oct 30, 2017 Jkt 244001 T. 2 S., R. 16 E. Secs. 31 and 32. Fifth Principal Meridian, South Dakota T. 106 N., R. 71 W. Sec. 13. BILLING CODE 4210–67–P The plats of surveys for the lands described in this notice are scheduled to be officially filed 30 calendar days after the date of this publication in the BLM Montana State Office, Billings, Montana. The surveys, which were executed at the request of the National Park Service, Midwest Regional Office, Omaha, Nebraska, and Superintendent, Crow Creek Indian Reservation, Ft. Thompson, South Dakota, are necessary for the management of these lands. DATES: A person or party who wishes to protest this decision must file a notice of protest in time for it to be received in the BLM Montana State Office no later than 30 days after the date of this publication. ADDRESSES: A copy of the plats may be obtained from the Public Room at the BLM Montana State Office, 5001 Southgate Drive, Billings, Montana 59101, upon required payment. The plats may be viewed at this location at no cost. FOR FURTHER INFORMATION CONTACT: Josh Alexander, BLM Chief Cadastral Surveyor for Montana; telephone: (406) 896–5123; email: jalexand@blm.gov. Persons who use a telecommunications device for the deaf (TDD) may call the Federal Relay Service (FRS) at (800) 877–8339 to contact the above individual during normal business hours. The FRS is available 24 hours a day, 7 days a week, to leave a message or question with the above individual. You will receive a reply during normal business hours. SUPPLEMENTARY INFORMATION: The lands surveyed are: Freedom of Information Act Requests asabaliauskas on DSKBBXCHB2PROD with NOTICES Dated: October 26, 2017. Dana T. Wade, General Deputy Assistant Secretary for Housing. SUMMARY: PO 00000 Frm 00070 Fmt 4703 Sfmt 9990 A person or party who wishes to protest an official filing of a plat of survey identified above must file a written notice of protest with the BLM Chief Cadastral Surveyor for Montana at the address listed in the ADDRESSES section of this notice. The notice of protest must identify the plat(s) of survey that the person or party wishes to protest. The notice of protest must be received in the BLM Montana State Office no later than the scheduled date of the proposed official filing for the plat(s) of survey being protested; if received after regular business hours, a notice of protest will be considered filed the next business day. A written statement of reasons in support of the protest, if not filed with the notice of protest, must be filed with the BLM Chief Cadastral Surveyor for Montana within 30 calendar days after the notice of protest is received. If a notice of protest of the plat(s) of survey is received prior to the scheduled date of official filing or during the 10 calendar day grace period provided in 43 CFR 4.401(a) and the delay in filing is waived, the official filing of the plat(s) of survey identified in the notice of protest will be stayed pending consideration of the protest. A plat of survey will not be officially filed until the next business day after all timely protests have been dismissed or otherwise resolved. If a notice of protest is received after the scheduled date of official filing and the 10 calendar day grace period provided in 43 CFR 4.401(a), the notice of protest will be untimely, may not be considered, and may be dismissed. Before including your address, phone number, email address, or other personal identifying information in a notice of protest or statement of reasons, you should be aware that the documents you submit—including your personal identifying information—may be made publicly available in their entirety at any time. While you can ask us to withhold your personal identifying information from public review, we cannot guarantee that we will be able to do so. Authority: 43 U.S.C. Chapter 3. Josh F. Alexander, Chief Cadastral Surveyor for Montana. [FR Doc. 2017–23680 Filed 10–30–17; 8:45 am] BILLING CODE 4310–DN–P E:\FR\FM\31OCN1.SGM 31OCN1

Agencies

[Federal Register Volume 82, Number 209 (Tuesday, October 31, 2017)]
[Notices]
[Pages 50438-50440]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2017-23677]


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DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT

[Docket No. FR-6062-N-01]


Notice of HUD-Held Multifamily Loan Sale (MLS 2018-1)

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

ACTION: Notice of sale of two multifamily mortgage loans.

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

SUMMARY: This notice announces HUD's intention to sell two unsubsidized 
multifamily mortgage loans, without Federal Housing Administration 
(FHA) insurance, in a competitive, sealed bid sale on or about November 
8, 2017 (MLS 2018-1 or Loan Sale). This notice also describes generally 
the bidding process for the sale and certain persons who are ineligible 
to bid.

DATES: A Bidder's Information Package (BIP) was made available on 
October 11, 2017 on the HUD Web site at www.hud.gov/fhaloansales. Bids 
for the loans must be submitted on the bid date, which is currently 
scheduled for November 8, 2017 between certain specified hours. HUD 
anticipates that an award or awards will be made on or before November 
9, 2017. Closing is expected to take place between November 17, 2017 
and November 20, 2017.

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 
www.hud.gov/fhaloansales. Please fax or email as well as mail executed 
original documents to JS Watkins Realty Partners, LLC: JS Watkins 
Realty Partners, LLC, c/o The Debt Exchange, 133 Federal Street, 10th 
Floor, Boston, MA 02111, Attention: MLS 2018-1 Sale Coordinator, Fax: 
1-978-967-8607, Email: [email protected].

FOR FURTHER INFORMATION CONTACT: John Lucey, Director, Asset Sales 
Office, Room 3136, U.S. Department of Housing and Urban Development, 
451 Seventh Street SW., Washington, DC 20410-8000; telephone 202-402-
3927. Hearing- or speech-impaired individuals

[[Page 50439]]

may call 202-708-4594 (TTY). These are not toll-free numbers.

SUPPLEMENTARY INFORMATION: HUD announces its intention to sell, in MLS 
2018-1, two (2) unsubsidized first lien mortgage loans (Mortgage Loans) 
secured by two multifamily properties located in Waynesville, Missouri, 
and Amarillo, Texas. The Mortgage Loans are non-performing mortgage 
loans. The listing of the Mortgage Loans is included in the BIP. The 
Mortgage Loans will be sold without FHA insurance and with HUD 
servicing released. HUD will offer qualified bidders an opportunity to 
bid competitively on the Mortgage Loans. Qualified bidders may submit 
bids on one or more of the Mortgage Loans.
    The Qualification Statement describes the entities/individuals that 
may be qualified to bid on the Mortgage Loans if they meet certain 
requirements as detailed in the Qualification Statement. Some entities/
individuals must meet additional requirements in order to be qualified 
to bid, including but not limited to:
    Any mortgagee/servicer who originated one or more of the Mortgage 
Loans; a mortgagor or an operator, with respect to any HUD insured or 
subsidized mortgage loan (excluding the Mortgage Loans being offered in 
the Loan Sale) who is currently in default, violation, or noncompliance 
with one or more of HUD's requirements or business agreements; and a 
limited partner, nonmanaging member, investor and/or shareholder who 
owns a 1% or less interest in one or more of the Mortgage Loans, or in 
the project securing one or more of the Mortgage Loans; and any of the 
aforementioned entities'/individuals' principals, affiliates, family 
members, and assigns.
    Interested entities/individuals who fall into one of these 
categories should review the Qualification Statement to determine 
whether they may be eligible to qualify to submit a bid on the Mortgage 
Loans. Other entities/individuals not described herein may also be 
restricted from bidding on the Mortgage Loans, as fully detailed in the 
Qualification Statement.

The Bidding Process

    The BIP describes in detail the procedure for bidding in MLS 2018-
1. The BIP also includes a standardized non-negotiable loan sale 
agreement (Loan Sale Agreement).
    As part of its bid, each bidder must submit a minimum deposit of 
the greater of One Hundred Thousand Dollars ($100,000) or ten percent 
(10%) of the aggregate bid prices for all of such Bidder's bids. In the 
event the Bidder's aggregate bid is less than One Hundred Thousand 
Dollars ($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 bid(s) 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, with any 
amount beyond the purchase price being returned to the bidder. Deposits 
will be returned to unsuccessful bidders after notification to 
sucessful bidders on or before November 13, 2017. Closings are expected 
to take place between November 17, 2017 and November 20, 2017.
    These are the essential terms of sale. The Loan Sale Agreement, 
which is included in the BIP, contains 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 describes the due diligence process for reviewing loan 
files in MLS 2018-1. 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 is 
provided in the BIP.

Mortgage Loan Sale Policy

    HUD reserves the right to add Mortgage Loans to or delete Mortgage 
Loans from MLS 2018-1 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 the Mortgage Loans in a 
later sale. The Mortgage Loans will not be withdrawn after the award 
date except as is specifically provided for in the Loan Sale Agreement.
    This is a sale of unsubsidized multifamily 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 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 
among those INELIGIBLE to bid on the Mortgage Loans being sold in MLS 
2018-1:
    1. A mortgagor, including its principals, affiliates, family 
members, and assigns, with respect to one or more of the Mortgage Loans 
being offered in the Loan Sale, or an Active Shareholder (as such term 
is defined in the Qualification Statement);
    2. 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 or operator with respect to any of HUD's 
multifamily and/or healthcare programs (excluding the Mortgage Loans 
being offered in the Loan Sale) and that has failed to file financial 
statements or is otherwise in default under such mortgage loan or is in 
violation or noncompliance of any regulatory or business agreements 
with HUD and fails to cure such default or violation by no later than 
October 25, 2017;
    3. Any individual or entity that is debarred, suspended, or 
excluded from doing business with HUD pursuant to Title 2 of the Code 
of Federal Regulations, Part 2424;
    4. 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 MLS 2018-1;
    5. Any employee of HUD, a member of such employee's family, or an 
entity owned or controlled by any such employee or member of such an 
employee's family;
    6. Any individual or entity that uses the services, directly or 
indirectly, of any person or entity ineligible under provisions (3) 
through (5) above to assist in preparing its bid on any Mortgage Loan;
    7. An FHA-approved mortgagee, including any principals, affiliates, 
or assigns thereof, that has received FHA insurance benefits for one or 
more of the Mortgage Loans being offered in the Loan Sale;
    8. An FHA-approved mortgagee and/or loan servicer, including any 
principals, affiliates, or assigns thereof, that originated one or more 
of the Mortgage Loans being offered in the Loan Sale if the Mortgage 
Loan defaulted within two years of

[[Page 50440]]

origination and resulted in the payment of an FHA insurance claim;
    9. Any affiliate, principal or employee of any person or entity 
that, within the two-year period prior to November 1, 2017, serviced 
any Mortgage Loan or performed other services for or on behalf of HUD;
    10. Any contractor or subcontractor to HUD that otherwise had 
access to information concerning any Mortgage Loan on behalf of HUD or 
provided services to any person or entity which, within the two-year 
period prior to November 1, 2017, had access to information with 
respect to the Mortgage Loan on behalf of HUD; and/or
    11. Any employee, officer, director or any other person that 
provides or will provide services to the prospective bidder with 
respect to the Mortgage Loans during any warranty period established 
for the Loan Sale, that serviced the Mortgage Loans or performed other 
services for or on behalf of HUD or within the two-year period prior to 
November 1, 2017, provided services to any person or entity which 
serviced, performed services or otherwise had access to information 
with respect to any Mortgage Loan for or on behalf of HUD.
    Other entities/individuals not described herein may also be 
restricted from bidding on the Mortgage Loans, as fully detailed in the 
Qualification Statement.
    The Qualification Statement provides further details pertaining to 
eligibility requirements. Prospective bidders should carefully review 
the Qualification Statement to determine whether they are eligible to 
submit bids on the Mortgage Loans in MLS 2018-1.

Freedom of Information Act Requests

    HUD reserves the right, in its sole and absolute discretion, to 
disclose information regarding MLS 2018-1, including, but not limited 
to, the identity of any successful bidder and its bid price or bid 
percentage for the Mortgage Loans, upon the closing of the sale of the 
Mortgage Loans. Even if HUD elects not to publicly disclose any 
information relating to MLS 2018-1, 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 MLS 2018-1 and does not establish HUD's 
policy for the sale of other mortgage loans.

    Dated: October 26, 2017.
Dana T. Wade,
General Deputy Assistant Secretary for Housing.
[FR Doc. 2017-23677 Filed 10-30-17; 8:45 am]
BILLING CODE 4210-67-P
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