Notice of HUD-Held Non Vacant Loan Sales (HNVLS 2025-1), 85553-85555 [2024-24994]
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Federal Register / Vol. 89, No. 208 / Monday, October 28, 2024 / Notices
disbursements in a timely manner, and
reconciliations for overages and
shortages on a quarterly basis.
Respondents: Public Housing
Authorities.
(HUD–52663, HUD–52672, HUD–52673,
HUD–52681).
Average Hours per Response: 2.
Total Estimated Burdens: 51,672.
Information collection
Number of
respondents
Frequency of
response
Responses
per annum
Burden hour
per response
Annual burden
hours
Hourly cost
per response
Annual cost
Total ........................................................
2,153
12
25,836
2
51,672
$35.67
$1,843,140.24
B. Solicitation of Public Comment
This notice is soliciting comments
from members of the public and affected
parties concerning the collection of
information described in Section A on
the following:
(1) Whether the proposed collection
of information is necessary for the
proper performance of the functions of
the agency, including whether the
information will have practical utility;
(2) The accuracy of the agency’s
estimate of the burden of the proposed
collection of information;
(3) Ways to enhance the quality,
utility, and clarity of the information to
be collected; and
(4) Ways to minimize the burden of
the collection of information on those
who are to respond; including through
the use of appropriate automated
collection techniques or other forms of
information technology, e.g., permitting
electronic submission of responses.
HUD encourages interested parties to
submit comment in response to these
questions.
C. Authority
Section 3507 of the Paperwork
Reduction Act of 1995, 44 U.S.C.
Chapter 35.
Lora Routt,
Director, Office of Policy, Programs and
Legislative Initiatives.
[FR Doc. 2024–24984 Filed 10–25–24; 8:45 am]
BILLING CODE 4210–67–P
DEPARTMENT OF HOUSING AND
URBAN DEVELOPMENT
[Docket No. FR–6497–N–01]
Notice of HUD-Held Non Vacant Loan
Sales (HNVLS 2025–1)
Office of the Assistant
Secretary for Housing Federal Housing
Commissioner, U.S. Department of
Housing and Urban Development
(HUD).
ACTION: Notice.
AGENCY:
lotter on DSK11XQN23PROD with NOTICES1
Estimated Number of Respondents:
2,153.
Estimated Number of Responses:
25,836.
Frequency of Response: monthly
(HUD–52681, HUD–52681–B)/annually
This notice announces HUD’s
intention to competitively offer
approximately 1,180 home equity
SUMMARY:
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conversion mortgages (HECM, or reverse
mortgage loans) secured by occupied
properties with a loan balance of
approximately $500 million. The sale
will consist of due and payable
Secretary-held reverse mortgage loans.
The mortgage loans consist of first liens
secured by real property that is
occupied, where the borrower and coborrowing spouse are deceased, and
heirs have not come forward in the time
elapsed. 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 first sale offering of its type and
will be held on December 11, 2024.
DATES: For this sale action, the Bidder
Information Package (BIP) will be made
available to qualified bidders on or
about November 12, 2024. Bids for the
HNVLS 2025–1 sale will be accepted on
the Bid Date of December 11, 2024. HUD
anticipates that award(s) will be made
on or about December 16, 2024 (the
Award Date).
ADDRESSES: To become an eligible
bidder and receive the BIP for the
December 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 HNVLS
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
PO 00000
Frm 00066
Fmt 4703
Sfmt 4703
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://
www.fcc.gov/consumers/guides/
telecommunications-relay-service-trs.
This
notice announces HUD’s intention to
sell in HNVLS 2025–1 due and payable
Secretary-held reverse mortgage loans.
HUD is offering 1,180 reverse mortgage
notes with a loan balance of
approximately $500 million. The
mortgage loans consist of first liens
secured by real property that is
occupied, where the borrower and coborrowing spouse are deceased, and
heirs have not come forward in the time
elapsed.
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.
SUPPLEMENTARY INFORMATION:
The Bidding Process
The BIP describes in detail the
procedure for bidding in HNVLS 2025–
1. The BIP also includes the applicable
standardized non-negotiable
Conveyance, Assignment and
Assumption Agreements for HNVLS
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.
Award will be contingent on receiving
the deposit in the timeframe outlined in
the deposit letter. The deposit amount
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Federal Register / Vol. 89, No. 208 / Monday, October 28, 2024 / Notices
will be applied towards the purchase
price at settlement.
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 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.
lotter on DSK11XQN23PROD with NOTICES1
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 HNVLS
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 HNVLS 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 (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
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19:13 Oct 25, 2024
Jkt 265001
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 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 HNVLS 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;
PO 00000
Frm 00067
Fmt 4703
Sfmt 4703
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;
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):
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Federal Register / Vol. 89, No. 208 / Monday, October 28, 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 HNVLS 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 HNVLS 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 HNVLS 2025–
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. 2024–24994 Filed 10–25–24; 8:45 am]
BILLING CODE 4210–67–P
DEPARTMENT OF THE INTERIOR
Fish and Wildlife Service
[Docket No. FWS–HQ–IA–2024–0162;
FXIA16710900000–245–FF09A30000]
Emergency Exemption: Issuance of
Emergency Permit To Import
Endangered Species
Fish and Wildlife Service,
Interior.
ACTION: Notice of issuance of permit.
AGENCY:
We, the U.S. Fish and
Wildlife Service, have waived the 30day public notice period and have
issued an endangered species permit for
the import and release into the wild of
one loggerhead sea turtle (Caretta
caretta), which was rescued from the
wild in Canada, for the purpose of
enhancing the propagation or survival of
the species. This permit is for a single
import.
SUMMARY:
85555
You may obtain materials
pertaining to the permit application by
submitting a Freedom of Information
Act (FOIA) request to the Service’s
FOIA office at https://www.doi.gov/foia/
foia-request-form.
ADDRESSES:
FOR FURTHER INFORMATION CONTACT:
Brenda Tapia, by phone at 703–358–
2104 or via email at DMAFR@fws.gov.
Individuals in the United States who are
deaf, blind, 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.
We, the
U.S. Fish and Wildlife Service (Service),
have issued an emergency permit to
conduct certain activities with an
endangered loggerhead sea turtle
(Caretta caretta), in response to a permit
application that we received under the
authority of section 10(a)(1)(A) of the
Endangered Species Act of 1973 (ESA;
16 U.S.C. 1531 et seq.)
We issued the requested permit
subject to certain conditions set forth in
the permit. For the application, we
found that (1) the application was filed
in good faith, (2) the granted permit
would not operate to the disadvantage
of the endangered species, and (3) the
granted permit would be consistent with
the purposes and policy set forth in
section 2 of the ESA.
SUPPLEMENTARY INFORMATION:
lotter on DSK11XQN23PROD with NOTICES1
PERMIT ISSUED UNDER EMERGENCY EXEMPTION
Permit No.
Applicant
PER11660838 ...................................................
SeaWorld California, San Diego, CA ...............
October 4, 2024.
SeaWorld California, of San Diego,
California, requested a permit to import
a female loggerhead sea turtle from the
Vancouver Aquarium in British
Columbia, Canada. The turtle was
rescued by the Stranding Network and
taken to the Vancouver Aquarium for
rehabilitation. SeaWorld has imported
the turtle and, after rehabilitation, will
release the turtle into the wild. The
Service determined that an emergency
affecting the viability of the turtle
existed, and that no reasonable
alternative was available to the
applicant.
On October 4, 2024, the Service
issued permit no. PER11660838 to
SeaWorld California to import a female
loggerhead sea turtle from the
Vancouver Aquarium in British
Columbia, Canada, and release the turtle
in the wild.
DEPARTMENT OF THE INTERIOR
Authority
[245A2100DD/AAKC001030/
A0A501010.999900]
VerDate Sep<11>2014
19:13 Oct 25, 2024
Jkt 265001
Permit issuance date
We issue this notice under the
authority of the Endangered Species Act
of 1973, as amended (ESA; 16 U.S.C.
1531 et seq.), and its implementing
regulations.
Brenda Tapia,
Supervisory Program Analyst/Data
Administrator, Branch of Permits, Division
of Management Authority.
[FR Doc. 2024–24965 Filed 10–25–24; 8:45 am]
BILLING CODE 4333–15–P
PO 00000
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Bureau of Indian Affairs
Receipt of Documented Petition for
Federal Acknowledgment as an
American Indian Tribe
Bureau of Indian Affairs,
Interior.
ACTION: Notice.
AGENCY:
The Department of the
Interior (Department) gives notice that
the group known as the Tripanick
Nansemond Family Indian Tribe has
filed a documented petition for Federal
SUMMARY:
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]]>Agencies
[Federal Register Volume 89, Number 208 (Monday, October 28, 2024)]
[Notices]
[Pages 85553-85555]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2024-24994]
-----------------------------------------------------------------------
DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT
[Docket No. FR-6497-N-01]
Notice of HUD-Held Non Vacant Loan Sales (HNVLS 2025-1)
AGENCY: Office of the Assistant Secretary for Housing Federal Housing
Commissioner, U.S. Department of Housing and Urban Development (HUD).
ACTION: Notice.
-----------------------------------------------------------------------
SUMMARY: This notice announces HUD's intention to competitively offer
approximately 1,180 home equity conversion mortgages (HECM, or reverse
mortgage loans) secured by occupied properties with a loan balance of
approximately $500 million. The sale will consist of due and payable
Secretary-held reverse mortgage loans. The mortgage loans consist of
first liens secured by real property that is occupied, where the
borrower and co-borrowing spouse are deceased, and heirs have not come
forward in the time elapsed. 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 first sale
offering of its type and will be held on December 11, 2024.
DATES: For this sale action, the Bidder Information Package (BIP) will
be made available to qualified bidders on or about November 12, 2024.
Bids for the HNVLS 2025-1 sale will be accepted on the Bid Date of
December 11, 2024. HUD anticipates that award(s) will be made on or
about December 16, 2024 (the Award Date).
ADDRESSES: To become an eligible bidder and receive the BIP for the
December 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 HNVLS 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). 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 in HNVLS 2025-1 due and payable Secretary-held reverse mortgage
loans. HUD is offering 1,180 reverse mortgage notes with a loan balance
of approximately $500 million. The mortgage loans consist of first
liens secured by real property that is occupied, where the borrower and
co-borrowing spouse are deceased, and heirs have not come forward in
the time elapsed.
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 HNVLS
2025-1. The BIP also includes the applicable standardized non-
negotiable Conveyance, Assignment and Assumption Agreements for HNVLS
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. Award will be contingent on receiving the
deposit in the timeframe outlined in the deposit letter. The deposit
amount
[[Page 85554]]
will be applied towards the purchase price at settlement.
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 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 HNVLS 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 HNVLS 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
(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 HNVLS 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 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;
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 85555]]
(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 HNVLS 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 HNVLS 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 HNVLS 2025-1 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. 2024-24994 Filed 10-25-24; 8:45 am]
BILLING CODE 4210-67-P
