[Federal Register Volume 65, Number 68 (Friday, April 7, 2000)]
[Notices]
[Pages 18346-18347]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 00-8633]


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DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT

[Docket No. FR-4561-N-21]


Notice of Submission of Proposed Information Collection to OMB; 
Emergency Comment Request Lenders Qualification for Multifamily 
Accelerated Processing

AGENCY: Officer of the Chief Information Officer, HUD.

ACTION:  Notice.

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SUMMARY: The proposed information collection requirement described 
below has been submitted to the Office of Management and Budget (OMB) 
for emergency review and approval, as required by the Paperwork 
Reduction Act. The Department is soliciting public comments on the 
subject proposal.

DATES: Comments Due Date: April 14, 2000.

ADDRESSES: Interested persons are invited to submit comments regarding 
this proposal. Comments should refer to the proposal by name or OMB 
approval number and should be sent to: Joseph F. Lackey, Jr., HUD Desk 
Officer, Office of Management and Budget, New Executive Office 
Building, Washington, DC 20410 (202) 395-7316.

FOR FURTHER INFORMATION CONTACT: Wayne Eddins, Reports Management 
Officer, Department of Housing and Urban Development, 451 7th Street, 
SW, Washington, DC 20410; e-mail [email protected]; telephone (202) 
708-2374. This is not a toll-free number. Copies of the proposed forms 
and other available documents submitted to OMB may be obtained from Mr. 
Eddins.

SUPPLEMENTARY INFORMATION: The Department has submitted the proposal 
for the collection of information, as described below, to OMB for 
review as

[[Page 18347]]

required by the Paperwork Reduction Act (44 U.S.C. Chapter 35). HUD has 
requested OMB approval by April 21, 2000. An agency may not conduct or 
sponsor, and a person is not required to respond to, a collection of 
information unless collection displays a valid control number. This 
notice contains the following information:
    (1) The title for the collection of information;
    (2) A summary of the collection of information;
    (3) A brief description of the need for the information and 
proposed use of the information;
    (4) A description of the likely respondents, including the 
estimated number of likely respondents, and proposed frequency of 
response to the collection of information;
    (5) An estimate of the total annual reporting and recordkeeping 
burden that will result from the collection of information;
    This Notice also lists the following information:
    Title of Proposed: Lender Qualifications for multifamily 
Accelerated Processing
    OMB Control number, if Applicable: 2502-XXXX.
    Agency Form Number, if Applicable: None.
    Description of the Need for the Information and its Proposed Use: 
FHA-approved mortgagees (lenders) will be required to submit to HUD 
information to show that they have an experienced multifamily 
underwriter on staff, and that they have satisfactory record on lending 
on multifamily housing properties. These additional requirements will 
enable a qualified lender to take advantage of a mortgage application 
processing plan that should take substantially less processing time 
than traditional multifamily mortgage processing where HUD staff 
prepares many of the processing documents. The information includes (a) 
identification of the applicant lender; (b) names of those authorized 
to commit the lender to a mortgage insurance application; (c) copy of 
approval as an FHA multifamily mortgagee; (d) method of operation in 
multifamily lending; e.g. whether loans are serviced, and experience in 
construction loan administration; (e) Experience in multifamily 
lending, including both conventional lending and FHA insured mortgage 
lending; (f) experience of key personnel, including underwriter or 
underwriters; (g) and agreement that the lender will open its files and 
records to monitoring by HUD staff or one or more loans or originated 
by the lender under the MAP process.
    Need and Use of the Information: The information is needed for HUD 
to qualify lenders to process applications for mortgage insurance under 
the Multifamily Accelerated processing guide. Once a lender is 
approved, its name will be posted on the web. Once approval is given, 
there are no requirements for further qualifications. Form Number (s): 
No form required. Qualified lenders will submit exhibits, such as 
resumes, and use a narrative description. Lender Qualifications are 
posted on the worldwide web. Chapter 2 of the MAP Guide is posted on 
worldwide web: The Netsite address is: http://@www.hud.gov/fha/mfh/map/
mapguide.html
    Respondents: Lenders which are approved FHA multifamily mortgagees.
    Reporting burden:.

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                                                       Frequency of           Hours per
             Number of respondents               x       response      x       response      =     Burden hours
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130...........................................                    1                    10                 1,300
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    Status of The Proposed Information Collection: Emergency.

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


    Dated: April 3, 2000.
Wayne Eddins,
Department Reports Management Officer, Office of the Chief Information 
Officer.
[FR Doc. 00-8633 Filed 4-6-00; 8:45 am]
BILLING CODE 4210-01-M