Notice of HUD Vacant Loan Sales (HVLS 2025-1), 66430-66432 [2024-18204]

Download as PDF khammond on DSKJM1Z7X2PROD with NOTICES 66430 Federal Register / Vol. 89, No. 158 / Thursday, August 15, 2024 / Notices annually as instructed by SAMHSA); the second component will contain standardized recovery, quality of life, and client goal measures as impacted by services received (also asked of clients at baseline and reassessment during the first year of a grant, then annually as instructed by SAMHSA); and the third component will consist of a streamlined set of questions describing clients’ behavioral health history, screening and diagnosis items, and services provided to clients (as reported at the client-level by the grantee using alternate data sources that already may be in use for other purposes, for example an electronic health or medical record). Question(s) about services provided to the client will only be required at reassessment and annually for some programs as instructed by SAMHSA. Currently, the tool and final burden table are still under development and will be available as part of the 30-Day FRN. However, SAMHSA expects that use of the multi-component tool will result in a significant decrease in burden for client and grantee annualized reporting, not only because of the streamlining of questions, but also because not all items will be required at every data collection time point. For example, SAMHSA anticipates that the services provided item will not be required to report at baseline, only reassessment and, for some programs, annually. SAMHSA is also finalizing a revised policy on when reassessments are expected to occur, recognizing that a one-size fits all approach may not be appropriate for all client-focused grant programs. SAMHSA is conducting testing to establish a better estimate of the time it will take to complete the information collection given the varying degree of direct client involvement across the new tool’s components and grantee use of alternate data sources for a portion of the tool. At this point, SAMHSA estimates that approximately 1500 client-focused grantees annually will use the tool and with a burden hour estimate per assessment that ranges from 0.13 to 0.27 for each of the three tool components. SAMHSA’s goal is to develop a new performance tool that is streamlined and will significantly reduce burden compared to the current performance tools. Send comments to the SAMHSA Reports Clearance Officer, 5600 Fishers Lane, Room 15E45, Rockville, Maryland 20857, OR email a copy to samhsapra@ VerDate Sep<11>2014 17:25 Aug 14, 2024 Jkt 262001 samhsa.hhs.gov. Written comments should be received by October 15, 2024. Alicia Broadus, Public Health Advisor. [FR Doc. 2024–18316 Filed 8–14–24; 8:45 am] BILLING CODE 4162–20–P DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT [Docket No. FR–6481–N–02] Notice of HUD Vacant Loan Sales (HVLS 2025–1) Office of the Assistant Secretary for Housing—Federal Housing Commissioner, Department of Housing and Urban Development (HUD). ACTION: Notice. AGENCY: This notice announces HUD’s intention to competitively offer approximately 2,700 home equity conversion mortgages (HECM, or reverse mortgage loans) secured by vacant properties with an updated loan balance of approximately $746 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 thirteenth sale offering of its type and will be held on October 16, 2024. DATES: For this sale action, the Bidder’s Information Package (BIP) will be made available to qualified bidders on or about September 11, 2024. Bids for the HVLS 2025–1 sale will be accepted on the Bid Date of October 16, 2024 prior to 1:00 p.m. ET (Bid Date). HUD anticipates that award(s) will be made on or about October 21, 2024 (the Award Date). ADDRESSES: To become an eligible bidder and receive the BIP for the October 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 SUMMARY: PO 00000 Frm 00089 Fmt 4703 Sfmt 4703 contains information and links to register for the sale and electronically complete and submit documents. If you cannot 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 9216, 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) or at john.w.lucey@hud.gov. 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. SUPPLEMENTARY INFORMATION: This notice announces HUD’s intention to sell due and payable Secretary-held reverse mortgage loans in HVLS 2025– 1. HUD is offering approximately 2,700 reverse mortgage notes with an updated loan balance of approximately $746 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. The Bidding Process The BIP describes in detail the procedure for bidding in HVLS 2025–1. The BIP also includes the applicable standardized non-negotiable Conveyance, Assignment and Assumption Agreements for HVLS 2025–1 (CAAs). The CAAs 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. E:\FR\FM\15AUN1.SGM 15AUN1 Federal Register / Vol. 89, No. 158 / Thursday, August 15, 2024 / Notices Award will be contingent on receiving the deposit in the timeframe outlined in the bid deposit confirmation. The deposit amount will be applied to the sale price on the settlement date. This notice provides some of the basic terms of sale. The CAAs 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 CAAs 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 unsold reverse mortgage loans from the HVLS 2025–1 sale 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. khammond on DSKJM1Z7X2PROD with NOTICES 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 2025–1 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 2025–1 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 that is acceptable to HUD. Eligible bidders seeking to be awarded loans on a VerDate Sep<11>2014 17:25 Aug 14, 2024 Jkt 262001 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, that is acceptable to HUD. The Confidentiality Agreement, Qualification Statement (HUD Form 9611), Qualification Statement Addendum for Nonprofit and Government Pools and Sub-Pools (HUD Form 9612), Housing Mission Supplemental Certification, if applicable, collectively are the ‘‘Qualification Statement Documents.’’ In the Qualification Statement, the prospective bidder must disclose its key employees, including officers, directors and other decision makers and 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 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 2025–1 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 PO 00000 Frm 00090 Fmt 4703 Sfmt 4703 66431 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 a past sale; 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; 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): E:\FR\FM\15AUN1.SGM 15AUN1 66432 Federal Register / Vol. 89, No. 158 / Thursday, August 15, 2024 / Notices (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 2025–1, 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 2025–1, 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 2025–1 and does not establish HUD’s policy for the sale of other mortgage loans. khammond on DSKJM1Z7X2PROD with NOTICES Julia R. Gordon, Assistant Secretary for Housing—Federal Housing Commissioner. [FR Doc. 2024–18204 Filed 8–14–24; 8:45 am] BILLING CODE 4210–67–P VerDate Sep<11>2014 17:25 Aug 14, 2024 Jkt 262001 DEPARTMENT OF THE INTERIOR Fish and Wildlife Service [FWS–HQ–OC–2024–N038; FVWF97820900000–XXX–FF09W13000 and FVWF54200900000–XXX–FF09W13000; OMB Control Number 1018–0088] Agency Information Collection Activities; Submission to the Office of Management and Budget; National Survey of Fishing, Hunting, and Wildlife-Associated Recreation (FHWAR) Fish and Wildlife Service, Interior. ACTION: Notice of information collection; request for comment. AGENCY: In accordance with the Paperwork Reduction Act of 1995 (PRA), we, the U.S. Fish and Wildlife Service (Service), are proposing to revise a currently approved information collection. DATES: Interested persons are invited to submit comments on or before September 16, 2024. ADDRESSES: Written comments and recommendations for the proposed information collection should be submitted within 30 days of publication of this notice at https:// www.reginfo.gov/public/do/PRAMain. Find this particular information collection by selecting ‘‘Currently under Review—Open for Public Comments’’ or by using the search function. Please provide a copy of your comments to the Service Information Collection Clearance Officer, U.S. Fish and Wildlife Service, MS: PRB (JAO/3W), 5275 Leesburg Pike, Falls Church, VA 22041–3803 (mail); or by email to Info_ Coll@fws.gov. Please reference ‘‘1018– 0088’’ in the subject line of your comments. FOR FURTHER INFORMATION CONTACT: To request additional information about this information collection request (ICR), contact Madonna L. Baucum, Service Information Collection Clearance Officer, by email at Info_ Coll@fws.gov, or by telephone at (703) 358–2503. Individuals in the United States who are deaf, deafblind, hard of hearing, or have a speech disability may dial 711 (TTY, TDD, or TeleBraille) to access telecommunications relay services. Individuals outside the United States should use the relay services offered within their country to make international calls to the point-ofcontact in the United States. You may also view the ICR at https:// www.reginfo.gov/public/do/PRAMain. SUPPLEMENTARY INFORMATION: In accordance with the Paperwork SUMMARY: PO 00000 Frm 00091 Fmt 4703 Sfmt 4703 Reduction Act (PRA, 44 U.S.C. 3501 et seq.) and its implementing regulations at 5 CFR 1320.8(d)(1), all information collections require approval under the PRA. We may not conduct or sponsor and you are not required to respond to a collection of information unless it displays a currently valid OMB control number. As part of our continuing effort to reduce paperwork and respondent burdens, we are again inviting the public and other Federal agencies to comment on new, proposed, revised, and continuing collections of information. This helps us assess the impact of our information collection requirements and minimize the public’s reporting burden. It also helps the public understand our information collection requirements and provide the requested data in the desired format. We are especially interested in public comment addressing the following: (1) Whether or not the collection of information is necessary for the proper performance of the functions of the agency, including whether or not the information will have practical utility; (2) The accuracy of our estimate of the burden for this collection of information, including the validity of the methodology and assumptions used; (3) Ways to enhance the quality, utility, and clarity of the information to be collected; and (4) How might the agency minimize the burden of the collection of information on those who are to respond, including through the use of appropriate automated, electronic, mechanical, or other technological collection techniques or other forms of information technology, e.g., permitting electronic submission of response. On January 3, 2024, we published in the Federal Register (89 FR 384) a notice of our intent to request that OMB approve this information collection. In that notice, we solicited comments for 60 days, ending on March 4, 2024. In an effort to increase public awareness of, and participation in, our public commenting processes associated with information collection requests, the Service also published the Federal Register notice on Regulations.gov (Docket FWS–HQ–WSFR–2023–0231) to provide the public with an additional method to submit comments (in addition to the typical U.S. mail submission method). We received the following comments in response to that notice: Comment 1: Electronic comment received 01/03/2024, via Regulations.gov (FWS–HQ–WSFR– 2023–0231–0002) from Jean Publie, who E:\FR\FM\15AUN1.SGM 15AUN1

Agencies

[Federal Register Volume 89, Number 158 (Thursday, August 15, 2024)]
[Notices]
[Pages 66430-66432]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2024-18204]


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DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT

[Docket No. FR-6481-N-02]


Notice of HUD Vacant Loan Sales (HVLS 2025-1)

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 2,700 home equity conversion mortgages (HECM, or reverse 
mortgage loans) secured by vacant properties with an updated loan 
balance of approximately $746 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 thirteenth sale 
offering of its type and will be held on October 16, 2024.

DATES: For this sale action, the Bidder's Information Package (BIP) 
will be made available to qualified bidders on or about September 11, 
2024. Bids for the HVLS 2025-1 sale will be accepted on the Bid Date of 
October 16, 2024 prior to 1:00 p.m. ET (Bid Date). HUD anticipates that 
award(s) will be made on or about October 21, 2024 (the Award Date).

ADDRESSES: To become an eligible bidder and receive the BIP for the 
October 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 cannot 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 9216, 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) or at 
[email protected]. 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/telecommunications-relay-service-trs.

SUPPLEMENTARY INFORMATION: This notice announces HUD's intention to 
sell due and payable Secretary-held reverse mortgage loans in HVLS 
2025-1. HUD is offering approximately 2,700 reverse mortgage notes with 
an updated loan balance of approximately $746 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 2025-
1. The BIP also includes the applicable standardized non-negotiable 
Conveyance, Assignment and Assumption Agreements for HVLS 2025-1 
(CAAs). The CAAs 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.

[[Page 66431]]

Award will be contingent on receiving the deposit in the timeframe 
outlined in the bid deposit confirmation. The deposit amount will be 
applied to the sale price on the settlement date.
    This notice provides some of the basic terms of sale. The CAAs 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 
CAAs 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 unsold reverse mortgage loans from the HVLS 
2025-1 sale 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 2025-1 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 2025-1 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 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, that is acceptable to HUD. The Confidentiality 
Agreement, Qualification Statement (HUD Form 9611), Qualification 
Statement Addendum for Nonprofit and Government Pools and Sub-Pools 
(HUD Form 9612), Housing Mission Supplemental Certification, if 
applicable, collectively are the ``Qualification Statement Documents.'' 
In the Qualification Statement, the prospective bidder must disclose 
its key employees, including officers, directors and other decision 
makers and 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 
2025-1 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 a past 
sale;
    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;
    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):

[[Page 66432]]

    (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 2025-1, 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 2025-1, 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 2025-1 and does not establish HUD's 
policy for the sale of other mortgage loans.

Julia R. Gordon,
Assistant Secretary for Housing--Federal Housing Commissioner.
[FR Doc. 2024-18204 Filed 8-14-24; 8:45 am]
BILLING CODE 4210-67-P
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