Notice of HUD Vacant Loan Sales (HVLS 2023-1), 30150-30152 [2023-09871]

Download as PDF lotter on DSK11XQN23PROD with NOTICES1 30150 Federal Register / Vol. 88, No. 90 / Wednesday, May 10, 2023 / Notices request that real property be placed ‘‘in trust.’’ The IHS uses the information to determine what property the T/TO want to acquire and how the property will be used. The information is collected and reported when the T/TO submit a request for excess and surplus federal property. Subpart J addresses the process by which the T/TO may contract for construction activities and sets forth minimum requirements for contract proposals (e.g., 25 CFR 900.110–133). Among other things, the subpart requires the T/TO to submit descriptions of standards when proposing to contract a construction project. These standards include use of licensed and qualified architects and engineers; applicable health and safety standards; adherence to applicable Federal, state, or Tribal building codes and engineering standards; structural integrity; accountability for funds; adequate competition for subcontracting under Tribal or other applicable law; the commencement, performance, and completion of the contract; adherence to project plans and specifications (including any applicable Federal construction guidelines and manuals); the use of proper materials and workmanship; necessary inspection and testing; and a process for changes, modifications, stop work and termination of the work when warranted. In addition to the above, additional information is required when T/TO are proposing to contract design and construction activity. Subpart L (25 CFR 900.150 et seq.) provides the appeal procedures available to the T/TO. Section 900.158 explains how to file a notice of appeal with the Interior Board of Indian Appeals (IBIA) and what the notice should contain. The IBIA receives the notice of appeal from the T/TO; and the IHS receives a copy of information sent to the IBIA; and section 900.166 provides instructions for submitting a written statement of objections concerning an Administrative Law Judge’s decision. The information is collected and reported when the T/TO request an appeal conference, file a notice of appeal, or request an appeal time extension, or submit objections for an Administrative Law Judge’s decision (i.e., 900.166). Subpart N covers the process for postaward contract disputes (e.g., 25 CFR 900.215–230). Section 900.219 explains how the T/TO submit a Contract Disputes Act (CDA) claim. The IHS needs and uses the information to evaluate and approve or disapprove a CDA claim. The information is collected and reported as needed when such a VerDate Sep<11>2014 17:49 May 09, 2023 Jkt 259001 claim is filed. The CDA, 41 U.S.C. 7101 et seq., sets forth the information required to be submitted for a claim. The regulations, including at 900.220, only restate those statutory requirements and do not require any additional information. Affected Public: Federally recognized Indian Tribes and Tribal organizations. Type of Respondents: Governments and individuals. Estimated Number of Responses: 243. Estimated Time per Response: An average of 30 hours per response. Frequency of Response: Each time programs, functions, services, or activities are contracted from the IHS under the ISDEAA, currently 243 per year. Estimated Total Annual Hour Burden: 7,290. There are no capital costs, operating costs and/or maintenance costs to respondents. Requests for Comments: Your written comments and/or suggestions are invited on one or more of the following points: (a) Whether the information collection activity is necessary to carry out an agency function; (b) Whether the agency processes the information collected in a useful and timely fashion; (c) The accuracy of the public burden estimate (the estimated amount of time needed for individual respondents to provide the requested information); (d) Whether the methodology and assumptions used to determine the estimates are logical; (e) Ways to enhance the quality, utility, and clarity of the information being collected; and (f) Ways to minimize the public burden through the use of automated, electronic, mechanical, or other technological collection techniques or other forms of information technology. P. Benjamin Smith, Deputy Director, Indian Health Service. [FR Doc. 2023–09980 Filed 5–9–23; 8:45 am] BILLING CODE 4165–16–P DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT [Docket No. FR 6396–N–01] Notice of HUD Vacant Loan Sales (HVLS 2023–1) Office of the Assistant Secretary for Housing—Federal Housing Commissioner, Department of Housing and Urban Development (HUD). ACTION: Notice. AGENCY: PO 00000 Frm 00081 Fmt 4703 Sfmt 4703 This notice announces HUD’s intention to competitively offer approximately 1,237 reverse mortgage notes secured by vacant properties with a loan balance of approximately $318 million. The sale will consist of due and payable Secretary-held reverse mortgage loans. The mortgage loans consist of first liens secured by single family, vacant residential properties, where all borrowers are deceased, and no borrower is survived by a nonborrowing spouse. The Secretary will prioritize up to 50 percent of the offered assets for award to nonprofit organizations or governmental entity bidders with a documented housing mission. This notice also generally describes the bidding process for the sale and certain entities who are ineligible to bid. This is the tenth sale offering of its type and will be held on May 23, 2023. DATES: For this sale action, the Bidder’s Information Package (BIP) will be made available to qualified bidders on or about April 24, 2023. Bids for the HVLS 2023–1 sale will be accepted on the Bid Date of May 23, 2023 prior to 12:00 ET (Bid Date). HUD anticipates that award(s) will be made on or about May 25, 2023 (the Award Date). ADDRESSES: To become an eligible bidder and receive the BIP for the May sale, prospective bidders must complete, execute, and submit a Confidentiality Agreement and Qualification Statement acceptable to HUD. The documents will be available in preview form with free login on the Transaction Specialist (TS), Falcon Capital Advisors, website: https:// www.falconassetsales.com. This website contains information and links to register for the sale and electronically complete and submit documents. If you do not submit electronically, please submit executed documents via mail or facsimile to Falcon Capital Advisors: Falcon Capital Advisors, 427 N Lee Street, Alexandria, VA 22314, Attention: Glenn Ervin, HUD HVLS Loan Sale Coordinator. eFax: 1–202– 393–4125. FOR FURTHER INFORMATION CONTACT: John Lucey, Director, Office of Asset Sales, Room 3136, Department of Housing and Urban Development, 451 Seventh Street SW, Washington, DC 20410–8000; telephone 202–708–2625, extension 3927 (this is not a toll-free number). HUD welcomes and is prepared to receive calls from individuals who are deaf or hard of hearing, as well as individuals with speech or communication disabilities. To learn more about how to make an accessible telephone call, please visit: https:// SUMMARY: E:\FR\FM\10MYN1.SGM 10MYN1 Federal Register / Vol. 88, No. 90 / Wednesday, May 10, 2023 / Notices www.fcc.gov/consumers/guides/ telecommunications-relay-service-trs. SUPPLEMENTARY INFORMATION: This notice announces HUD’s intention to sell in HVLS 2023–1 due and payable Secretary-held reverse mortgage loans. HUD is offering 1,237 reverse mortgage notes with a loan balance of approximately $318 million. The mortgage loans consist of first liens secured by single family, vacant residential properties, where all borrowers are deceased, and no borrower is survived by a nonborrowing spouse. A listing of the mortgage loans will be included in the due diligence materials made available to eligible bidders. The mortgage loans will be sold without FHA insurance and with servicing released. HUD will offer eligible bidders an opportunity to bid competitively on the mortgage loans. lotter on DSK11XQN23PROD with NOTICES1 The Bidding Process The BIP describes in detail the procedure for bidding in HVLS 2023–1. The BIP also includes a standardized non-negotiable Conveyance, Assignment and Assumption Agreement for HVLS 2023–1 (CAA). The CAA will contain first look requirements and mission outcome goals. HUD will evaluate the bids submitted and determine the successful bids, in terms of the best value to HUD, in its sole and absolute discretion. If a bidder is successful, it will be required to submit a deposit which will be calculated based upon the total dollar value of the bidder’s potential award. Award will be contingent on receiving the deposit in the timeframe outlined in the deposit letter. The deposit amount will be applied towards the purchase price at settlement. This notice provides some of the basic terms of sale. The CAA will be released in the BIP or BIP Supplement, as applicable. These documents provide comprehensive contractual terms and conditions to which eligible bidders will acknowledge and agree. To ensure a competitive bidding process, the terms of the bidding process and the CAA are not subject to negotiation. Due Diligence Review The BIP describes how eligible 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 a sale at any time prior to the Award Date and the settlement date for the mortgage loans. HUD also reserves the right to reject any VerDate Sep<11>2014 17:49 May 09, 2023 Jkt 259001 and all bids, in whole or in part, and include any reverse mortgage loans in a later sale. Deliveries of mortgage loans will occur in conjunction with settlement and servicing transfer no later than 60 days after the Award Date. The reverse mortgage loans offered for sale were insured by and were assigned to HUD pursuant to section 255 of the National Housing Act, as amended. The sale of the reverse mortgage loans is pursuant to HUD’s authority in 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 reverse mortgage loans for this specific sale transaction. For the HVLS 2023–1 sale, HUD has determined that this method of sale optimizes HUD’s return on the sale of these reverse mortgage loans, affords the greatest opportunity for all eligible bidders to bid on the reverse mortgage loans, and provides the quickest and most efficient vehicle for HUD to dispose of the due and payable reverse mortgage loans. Bidder Ineligibility In order to bid in HVLS 2023–1 as an eligible bidder, a prospective bidder must complete, execute, and submit a Confidentiality Agreement, a Qualification Statement (HUD–9611), and an Addendum for Nonprofit and Government Pools and Sub-pools (HUD–9612), as applicable (collectively, for these bidders, the Qualification Statement (HUD–9611) and Addendum for Nonprofit and Government Pools and Sub-pools (HUD–9612), as applicable, shall be defined as the Qualification Statement) that is acceptable to HUD. Eligible bidders seeking to be awarded loans on a priority basis must submit the Confidentiality Agreement, Qualification Statement (HUD–9611), and Addendum for Nonprofit and Government Pools and Sub-pools (HUD–9612), and Housing Mission Supplemental Certification (collectively, for these bidders, the Qualification Statement (HUD–9611) and Addendum for Nonprofit and Government Pools and Sub-pools (HUD–9612), and Housing Mission Supplemental Certification shall be defined as the Qualification Statement), that is acceptable to HUD. In the Qualification Statement, the prospective bidder must provide certain representations and warranties regarding the prospective bidder, including (i) the prospective bidder’s board of directors, (ii) the prospective bidder’s direct parent, (iii) the prospective bidder’s subsidiaries, (iv) any related entity with which the PO 00000 Frm 00082 Fmt 4703 Sfmt 4703 30151 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 (collectively the ‘‘Related Entities’’), and (v) the prospective bidder’s repurchase lenders. The prospective bidder is ineligible to bid on any of the reverse mortgage loans included in HVLS 2023–1 if the prospective bidder, its Related Entities, or its repurchase lenders, are any of the following, unless other exceptions apply as provided for in the Qualification Statement. 1. 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 2 CFR parts 180 and 2424; 2. An individual or entity that is currently 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; 3. An individual or entity that is currently 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; 4. An entity that has had its right to act as a Government National Mortgage Association (‘‘Ginnie Mae’’) issuer terminated and its interest in mortgages backing Ginnie Mae mortgage-backed securities extinguished by Ginnie Mae; 5. An individual or entity that is in violation of its neighborhood stabilizing outcome obligations or post-sale reporting requirements under a Conveyance, Assignment and Assumption Agreement executed for any previous mortgage loan sale of HUD; 6. An employee of HUD’s Office of Housing, 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; E:\FR\FM\10MYN1.SGM 10MYN1 lotter on DSK11XQN23PROD with NOTICES1 30152 Federal Register / Vol. 88, No. 90 / Wednesday, May 10, 2023 / Notices 7. A contractor, subcontractor, and/or consultant or advisor (including any agent, employee, partner, director, or principal of any of the foregoing) who performed services for or on behalf of HUD in connection with the sale; 8. An individual or entity that knowingly acquired or will acquire prior to the sale date material nonpublic information, other than that information which is made available to Bidder by HUD pursuant to the terms of this Qualification Statement, about mortgage loans offered in the sale; 9. An individual or entity which knowingly employs or uses the services of an employee of HUD’s Office of Housing (other than in such employee’s official capacity); or 10. An individual or entity that knowingly uses the services, directly or indirectly, of any person or entity ineligible under 1 through 10 to assist in preparing any of its bids on the mortgage loans. The Qualification Statement has additional representations and warranties which the prospective bidder must make, including but not limited to the representation and warranty that the prospective bidder or its Related Entities are not and will not knowingly use the services, directly or indirectly, of any person or entity that is, any of the following (and to the extent that any such individual or entity would prevent the prospective bidder from making the following representations, such individual or entity has been removed from participation in all activities related to this sale and has no ability to influence or control individuals involved in formation of a bid for this sale): (1) An entity or individual is ineligible to bid on any included reverse mortgage loan or on the pool containing such reverse mortgage loan because it is an entity or individual that: (a) Serviced or held such reverse mortgage loan at any time during the six-month period prior to the bid, or (b) Is any principal of any entity or individual described in the preceding sentence; (c) Any employee or subcontractor of such entity or individual during that six-month period; or (d) 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 reverse mortgage loan. In addition, for those eligible bidders seeking to be awarded mortgage loans on a priority basis and signing the Housing Mission Supplemental Certification, each prospective bidder must provide documentation and certify VerDate Sep<11>2014 17:49 May 09, 2023 Jkt 259001 that its charitable or government purpose has a qualifying housing mission and that its participation in the sale is a furtherance of that housing mission. Freedom of Information Act Requests HUD reserves the right, in its sole and absolute discretion, to disclose information regarding HVLS 2023–1, 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 HVLS 2023–1, 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 HVLS 2023–1 and does not establish HUD’s policy for the sale of other mortgage loans. Julia R. Gordon, Assistant Secretary for Housing FHA Commissioner. [FR Doc. 2023–09871 Filed 5–9–23; 8:45 am] BILLING CODE 4210–67–P DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT [Docket No. FR–7076–N–12] 60-Day Notice of Proposed Information Collection: Consolidated Public Housing Certification of Completion; OMB Control No.: 2577–0021 Office of the Assistant Secretary for Public and Indian Housing, PIH, HUD. ACTION: Notice. AGENCY: HUD is seeking approval from the Office of Management and Budget (OMB) for the information collection described below. In accordance with the Paperwork Reduction Act, HUD is requesting comment from all interested parties on the proposed collection of information. The purpose of this notice is to allow for 60 days of public comment. DATES: Comments Due Date: July 10, 2023. ADDRESSES: Interested persons are invited to submit comments regarding this proposal. Written comments and recommendations for the proposed information collection can be sent within 60 days of publication of this notice to OIRA_submission@ SUMMARY: PO 00000 Frm 00083 Fmt 4703 Sfmt 4703 omb.eop.gov or www.reginfo.gov/public/ do/PRAMain. Find this particular information collection by selecting ‘‘Currently under 60-day Review—Open for Public Comments’’ or by using the search function. Interested persons are also invited to submit comments regarding this proposal by name and/or OMB Control Number and can be sent to: Colette Pollard, Reports Management Officer, REE, Department of Housing and Urban Development, 451 7th Street SW, Room 8210, Washington, DC 20410–5000; or email at PaperworkReductionActOffice@ hud.gov. FOR FURTHER INFORMATION CONTACT: Colette Pollard, Reports Management Officer, REE, Department of Housing and Urban Development, 451 7th Street SW, Washington, DC 20410; email Colette Pollard, Colette.Pollard@ hud.gov, telephone 202–402–3400. This is not a toll-free number. HUD welcomes and is prepared to receive calls from individuals who are deaf or hard of hearing, as well as individuals with speech or communication disabilities. To learn more about how to make an accessible telephone call, please visit https://www.fcc.gov/ consumers/guides/telecommunicationsrelay-service-trs. Copies of available documents submitted to OMB may be obtained from Ms. Pollard. SUPPLEMENTARY INFORMATION: This notice informs the public that HUD is seeking approval from OMB for the information collection described in section A. A. Overview of Information Collection Title of Information Collection: Consolidated Public Housing Certification of Completion. OMB Approval Number: 2577–0021. Type of Request: Reinstatement, without change, of previously approved collection for which approval has expired. Form Number: None. Description of the need for the information and proposed use: Public Housing Agencies (PHAs) certify to HUD that contract requirements and standards have been satisfied in a project development and HUD may authorize payment of funds due the contractor/developer. The Certification is submitted by a Public Housing Agency (PHA) to indicate to HUD that contract requirements have been satisfied for a specific project. Respondents: Public Housing Authorities. Estimated Number of Respondents: 58. E:\FR\FM\10MYN1.SGM 10MYN1

Agencies

[Federal Register Volume 88, Number 90 (Wednesday, May 10, 2023)]
[Notices]
[Pages 30150-30152]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2023-09871]


=======================================================================
-----------------------------------------------------------------------

DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT

[Docket No. FR 6396-N-01]


Notice of HUD Vacant Loan Sales (HVLS 2023-1)

AGENCY: Office of the Assistant Secretary for Housing--Federal Housing 
Commissioner, Department of Housing and Urban Development (HUD).

ACTION: Notice.

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

SUMMARY: This notice announces HUD's intention to competitively offer 
approximately 1,237 reverse mortgage notes secured by vacant properties 
with a loan balance of approximately $318 million. The sale will 
consist of due and payable Secretary-held reverse mortgage loans. The 
mortgage loans consist of first liens secured by single family, vacant 
residential properties, where all borrowers are deceased, and no 
borrower is survived by a non-borrowing spouse. The Secretary will 
prioritize up to 50 percent of the offered assets for award to 
nonprofit organizations or governmental entity bidders with a 
documented housing mission. This notice also generally describes the 
bidding process for the sale and certain entities who are ineligible to 
bid. This is the tenth sale offering of its type and will be held on 
May 23, 2023.

DATES: For this sale action, the Bidder's Information Package (BIP) 
will be made available to qualified bidders on or about April 24, 2023. 
Bids for the HVLS 2023-1 sale will be accepted on the Bid Date of May 
23, 2023 prior to 12:00 ET (Bid Date). HUD anticipates that award(s) 
will be made on or about May 25, 2023 (the Award Date).

ADDRESSES: To become an eligible bidder and receive the BIP for the May 
sale, prospective bidders must complete, execute, and submit a 
Confidentiality Agreement and Qualification Statement acceptable to 
HUD. The documents will be available in preview form with free login on 
the Transaction Specialist (TS), Falcon Capital Advisors, website: 
https://www.falconassetsales.com. This website contains information and 
links to register for the sale and electronically complete and submit 
documents.
    If you do not submit electronically, please submit executed 
documents via mail or facsimile to Falcon Capital Advisors: Falcon 
Capital Advisors, 427 N Lee Street, Alexandria, VA 22314, Attention: 
Glenn Ervin, HUD HVLS Loan Sale Coordinator. eFax: 1-202-393-4125.

FOR FURTHER INFORMATION CONTACT: John Lucey, Director, Office of Asset 
Sales, Room 3136, Department of Housing and Urban Development, 451 
Seventh Street SW, Washington, DC 20410-8000; telephone 202-708-2625, 
extension 3927 (this is not a toll-free number). HUD welcomes and is 
prepared to receive calls from individuals who are deaf or hard of 
hearing, as well as individuals with speech or communication 
disabilities. To learn more about how to make an accessible telephone 
call, please visit: https://

[[Page 30151]]

www.fcc.gov/consumers/guides/telecommunications-relay-service-trs.

SUPPLEMENTARY INFORMATION: This notice announces HUD's intention to 
sell in HVLS 2023-1 due and payable Secretary-held reverse mortgage 
loans. HUD is offering 1,237 reverse mortgage notes with a loan balance 
of approximately $318 million. The mortgage loans consist of first 
liens secured by single family, vacant residential properties, where 
all borrowers are deceased, and no borrower is survived by a non-
borrowing spouse.
    A listing of the mortgage loans will be included in the due 
diligence materials made available to eligible bidders. The mortgage 
loans will be sold without FHA insurance and with servicing released. 
HUD will offer eligible bidders an opportunity to bid competitively on 
the mortgage loans.

The Bidding Process

    The BIP describes in detail the procedure for bidding in HVLS 2023-
1. The BIP also includes a standardized non-negotiable Conveyance, 
Assignment and Assumption Agreement for HVLS 2023-1 (CAA). The CAA will 
contain first look requirements and mission outcome goals.
    HUD will evaluate the bids submitted and determine the successful 
bids, in terms of the best value to HUD, in its sole and absolute 
discretion. If a bidder is successful, it will be required to submit a 
deposit which will be calculated based upon the total dollar value of 
the bidder's potential award. Award will be contingent on receiving the 
deposit in the timeframe outlined in the deposit letter. The deposit 
amount will be applied towards the purchase price at settlement.
    This notice provides some of the basic terms of sale. The CAA will 
be released in the BIP or BIP Supplement, as applicable. These 
documents provide comprehensive contractual terms and conditions to 
which eligible bidders will acknowledge and agree. To ensure a 
competitive bidding process, the terms of the bidding process and the 
CAA are not subject to negotiation.

Due Diligence Review

    The BIP describes how eligible 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 a sale at any 
time prior to the Award Date and the settlement date for the mortgage 
loans. HUD also reserves the right to reject any and all bids, in whole 
or in part, and include any reverse mortgage loans in a later sale. 
Deliveries of mortgage loans will occur in conjunction with settlement 
and servicing transfer no later than 60 days after the Award Date.
    The reverse mortgage loans offered for sale were insured by and 
were assigned to HUD pursuant to section 255 of the National Housing 
Act, as amended. The sale of the reverse mortgage loans is pursuant to 
HUD's authority in 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 reverse mortgage loans for this specific sale transaction. For 
the HVLS 2023-1 sale, HUD has determined that this method of sale 
optimizes HUD's return on the sale of these reverse mortgage loans, 
affords the greatest opportunity for all eligible bidders to bid on the 
reverse mortgage loans, and provides the quickest and most efficient 
vehicle for HUD to dispose of the due and payable reverse mortgage 
loans.

Bidder Ineligibility

    In order to bid in HVLS 2023-1 as an eligible bidder, a prospective 
bidder must complete, execute, and submit a Confidentiality Agreement, 
a Qualification Statement (HUD-9611), and an Addendum for Nonprofit and 
Government Pools and Sub-pools (HUD-9612), as applicable (collectively, 
for these bidders, the Qualification Statement (HUD-9611) and Addendum 
for Nonprofit and Government Pools and Sub-pools (HUD-9612), as 
applicable, shall be defined as the Qualification Statement) that is 
acceptable to HUD. Eligible bidders seeking to be awarded loans on a 
priority basis must submit the Confidentiality Agreement, Qualification 
Statement (HUD-9611), and Addendum for Nonprofit and Government Pools 
and Sub-pools (HUD-9612), and Housing Mission Supplemental 
Certification (collectively, for these bidders, the Qualification 
Statement (HUD-9611) and Addendum for Nonprofit and Government Pools 
and Sub-pools (HUD-9612), and Housing Mission Supplemental 
Certification shall be defined as the Qualification Statement), that is 
acceptable to HUD. In the Qualification Statement, the prospective 
bidder must provide certain representations and warranties regarding 
the prospective bidder, including (i) the prospective bidder's board of 
directors, (ii) the prospective bidder's direct parent, (iii) the 
prospective bidder's subsidiaries, (iv) any related 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 (collectively the ``Related Entities''), and (v) the 
prospective bidder's repurchase lenders. The prospective bidder is 
ineligible to bid on any of the reverse mortgage loans included in HVLS 
2023-1 if the prospective bidder, its Related Entities, or its 
repurchase lenders, are any of the following, unless other exceptions 
apply as provided for in the Qualification Statement.
    1. 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 2 CFR parts 180 and 2424;
    2. An individual or entity that is currently 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;
    3. An individual or entity that is currently 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;
    4. An entity that has had its right to act as a Government National 
Mortgage Association (``Ginnie Mae'') issuer terminated and its 
interest in mortgages backing Ginnie Mae mortgage-backed securities 
extinguished by Ginnie Mae;
    5. An individual or entity that is in violation of its neighborhood 
stabilizing outcome obligations or post-sale reporting requirements 
under a Conveyance, Assignment and Assumption Agreement executed for 
any previous mortgage loan sale of HUD;
    6. An employee of HUD's Office of Housing, 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;

[[Page 30152]]

    7. A contractor, subcontractor, and/or consultant or advisor 
(including any agent, employee, partner, director, or principal of any 
of the foregoing) who performed services for or on behalf of HUD in 
connection with the sale;
    8. An individual or entity that knowingly acquired or will acquire 
prior to the sale date material non-public information, other than that 
information which is made available to Bidder by HUD pursuant to the 
terms of this Qualification Statement, about mortgage loans offered in 
the sale;
    9. An individual or entity which knowingly employs or uses the 
services of an employee of HUD's Office of Housing (other than in such 
employee's official capacity); or
    10. An individual or entity that knowingly uses the services, 
directly or indirectly, of any person or entity ineligible under 1 
through 10 to assist in preparing any of its bids on the mortgage 
loans.
    The Qualification Statement has additional representations and 
warranties which the prospective bidder must make, including but not 
limited to the representation and warranty that the prospective bidder 
or its Related Entities are not and will not knowingly use the 
services, directly or indirectly, of any person or entity that is, any 
of the following (and to the extent that any such individual or entity 
would prevent the prospective bidder from making the following 
representations, such individual or entity has been removed from 
participation in all activities related to this sale and has no ability 
to influence or control individuals involved in formation of a bid for 
this sale):
    (1) An entity or individual is ineligible to bid on any included 
reverse mortgage loan or on the pool containing such reverse mortgage 
loan because it is an entity or individual that:
    (a) Serviced or held such reverse mortgage loan at any time during 
the six-month period prior to the bid, or
    (b) Is any principal of any entity or individual described in the 
preceding sentence;
    (c) Any employee or subcontractor of such entity or individual 
during that six-month period; or
    (d) 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 reverse mortgage loan.
    In addition, for those eligible bidders seeking to be awarded 
mortgage loans on a priority basis and signing the Housing Mission 
Supplemental Certification, each prospective bidder must provide 
documentation and certify that its charitable or government purpose has 
a qualifying housing mission and that its participation in the sale is 
a furtherance of that housing mission.

Freedom of Information Act Requests

    HUD reserves the right, in its sole and absolute discretion, to 
disclose information regarding HVLS 2023-1, 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 HVLS 2023-1, 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 HVLS 2023-1 and does not establish HUD's 
policy for the sale of other mortgage loans.

Julia R. Gordon,
Assistant Secretary for Housing FHA Commissioner.
[FR Doc. 2023-09871 Filed 5-9-23; 8:45 am]
BILLING CODE 4210-67-P
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.