[Federal Register Volume 75, Number 143 (Tuesday, July 27, 2010)]
[Notices]
[Pages 44003-44004]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2010-18402]
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DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT
[Docket No. FR-5380-N-28]
Notice of Proposed Information Collection: Comment Request;
Mortgagee's Application for Partial Settlement, Multifamily Mortgage
AGENCY: Office of the Assistant Secretary for Housing, HUD.
ACTION: Notice.
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SUMMARY: The proposed information collection requirement described
below will be submitted to the Office of Management and Budget (OMB)
for review, as required by the Paperwork Reduction Act. The Department
is soliciting public comments on the subject proposal.
DATES: Comments Due Date: September 27, 2010.
ADDRESSES: Interested persons are invited to submit comments regarding
this proposal. Comments should refer to the proposal by name and/or OMB
Control Number and should be sent to: Leroy McKinney, Jr., Departmental
Reports Management Officer, QDAM, Department of Housing and Urban
Development, 451 7th Street, SW., Washington, DC 20410; e-mail
[email protected] or telephone (202) 402-5564 or the number for
the Federal Information Relay Service (1-800-877-8339).
FOR FURTHER INFORMATION CONTACT: Rebecca Lovelace, Accountant,
Multifamily Claims Branch, Department of Housing and Urban Development,
451 7th Street, SW., Washington, DC 20410, e-mail telephone (202) 402-
3987 (this is not a toll free number) for copies of the proposed forms
and other available information.
SUPPLEMENTARY INFORMATION: The Department is submitting the proposed
information collection to OMB for review, as required by the Paperwork
Reduction Act of 1995 (44 U.S.C. Chapter 35, as amended).
This Notice is soliciting comments from members of the public and
affected agencies concerning the proposed collection of information to:
(1) Evaluate whether the proposed collection is necessary for the
proper performance of the functions of the agency, including whether
the information will have practical utility; (2) Evaluate the accuracy
of the agency's estimate of the burden of the proposed collection of
information; (3) Enhance the quality, utility, and clarity of the
information to be collected; and (4) Minimize the burden of the
collection of information on those who are to respond; including
[[Page 44004]]
the use of appropriate automated collection techniques or other forms
of information technology, e.g., permitting electronic submission of
responses.
This Notice also lists the following information:
Title of Proposal: Multifamily Mortgagee's Application for Partial
Settlement.
OMB Control Number, if applicable: 2502-0427.
Description of the need for the information and proposed use:
1. When a FHA-insured Multifamily mortgage goes into default,
the Mortgagee may file a claim with the Secretary to receive the
insurance benefits. Statute 12 USC 1713(g)-(r) provides that, * * *
``the Mortgagee shall be entitled to receive the benefits of the
insurance as hereinafter provided, upon assignment, transfer, and
delivery to the Secretary, within a period and in accordance with
rules and regulations to be prescribed by the Secretary of all
rights and interest arising under the mortgage so in default * * *
at its option and in accordance with regulation, and in a period to
be determined by the Secretary, proceed to foreclosure on and obtain
possession of or otherwise acquired such property after default and
receive the benefits of the insurance as herein provided upon prompt
conveyance to the Secretary the title of the property * * * '' The
Mortgagee may receive a portion of the benefits immediately after
the assignment or conveyance.
2. The respondents are only those mortgagees that elect to
assign property to HUD. There are approximately 115 such mortgagees
annually. When the mortgagee notifies HUD of an election to assign a
property to HUD, HUD sends the mortgagee an e-mail with instructions
for submitting its claim (see Attachment 1). This request addresses
only the Application for Partial Settlement. Within 24 to 48 hours
after an assignment or conveyance, the Secretary may pay the
Mortgagee a partial amount of insurance benefits. This payment is
made prior to the examination of the Mortgagee's claim. The
information collected on the subject form, HUD-2537 (Mortgagee's
Application for Partial Settlement-Multifamily Mortgage), provides
the required information to determine the partial amount. This
amount is computed in accordance with the foregoing statutory
provisions and regulations promulgated there under in 24 CFR 207(B),
Contract Rights and Obligations.
Agency form numbers, if applicable: HUD-2537.
Estimation of the total numbers of hours needed to prepare the
information collection including number of respondents, frequency of
response, and hours of response: The number of annual burden hours is
29. The number of respondents is 115 per year, the number of responses
is 115, the frequency of response is on occasion, and the burden hour
per response is .25.
Status of the proposed information collection: This is a request
for renewal of a currently approved collection.
Authority: The Paperwork Reduction Act of 1995, 44 U.S.C.,
Chapter 35, as amended.
Dated: July 22, 2010.
Ronald Y. Spraker,
Associate General Deputy Assistant Secretary for Housing.
[FR Doc. 2010-18402 Filed 7-26-10; 8:45 am]
BILLING CODE 4210-67-P