[Federal Register Volume 64, Number 141 (Friday, July 23, 1999)]
[Page 40029]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 99-18879]



[Docket No. FR-4445-N-19]

Proposed Information Collection: Comment Request; Multifamily 
Insurance Benefits Claim Package

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

ACTION: Notice.


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 21, 1999.

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: Wayne Eddins, Reports Management 
Officer, Department of Housing and Urban Development, 451 7th Street, 
SW, Room 4176, Washington, DC 20410.

FOR FURTHER INFORMATION CONTACT: Betty A. Belin, Systems Accountant, 
Office of Financial Services, Department of Housing and Urban 
Development, 451 7th Street SW, Washington, DC 20410, telephone (202) 
401-2168 (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 of information 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 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 Insurance Benefits Claim Package.
    OMB Control Number, if applicable: 2502-0415.
    Description of he need for the information and proposed use: The 
Claim package requests from mortgagees the necessary fiscal data 
required for HUD to determine insurance owed to mortgagees that filed 
an insurance claim. When terms of a Multifamily contract are breached 
or when a mortgage meets conditions stated within the Multifamily 
contract for an automated assignment, the holder of the mortgage may 
file for insurance benefits. The law which supports this action is 
Statute 12 USC 1713(g) and Title II, Section 207(g) of the National 
Housing Act. This Act provides in the part ``. . . 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 (1) all rights and interest arising 
under the mortgage so in default; (2) all claims of the mortgagee 
against the mortgagor or others, arising under the mortgage 
transaction; (3) all policies of title or other insurance or surety 
bonds or guaranties and any or all claims thereunder; (4) any balance 
of the mortgage loan not advanced to the mortgagor; (5) any cash or 
property held by the mortgagee, or to which it is entitled, as deposits 
made for account of the mortgagor and which have been applied in 
reduction of the principal of the mortgage indebtedness; and (6) all 
records, documents, books, papers and accounts relating to the mortgage 
transaction.'' These provisions are further spelled out in CFR 24 Part 
207--Subpart B--Contract Rights and Obligations. To receive these 
benefits, the mortgagee must prepare and submit to HUD the Multifamily 
Insurance Benefits Claim Package.
    Agency form numbers, if applicable: HUD-2742, 2744A, 2744B, 2744C, 
2744D, and 2744E.
    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 estimated number of respondents is 
118, frequency of responses is one per claim submission, and the total 
annual burden hours requested are 411.
    Status of the proposed information collection: Extension of a 
currently approved collection.

    Authority: The Paperwork Reduction Act of 1995, 44 U.S.C. 
Chapter 35, as amended.

    Dated: July 20, 1999.
William C. Apgar,
Assistant Secretary for Housing-Federal Housing Commissioner.
[FR Doc. 99-18879 Filed 7-22-99; 8:45 am]