[Federal Register Volume 68, Number 53 (Wednesday, March 19, 2003)]
[Notices]
[Pages 13321-13322]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 03-6609]


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DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT

[Docket No. FR-4820-N-09]


Notice of Proposed Information Collection: Comment Request; 
Multifamily Insurance Benefits Claims Package

AGENCY: Office of the Assistant Secretary for Housing-Federal Housing 
Commissioner, 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: May 19, 2003.

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., L'Enfant Plaza Building, Room 8003, Washington, DC 20410 or Wayne 
[email protected].

FOR FURTHER INFORMATION CONTACT: Sivert W. Ritchie, Systems Accountant, 
Office of Financial Services, Department of Housing and Urban 
Development, 451 7th Street, SW., Room 6254, Washington, DC 20410, 
telephone (202) 708-2866 ext. 3266 (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 the 
use of appropriate automated collection techniques or other forms of

[[Page 13322]]

information technology, e.g., permitting electronic submission of 
responses.
    This notice also lists the following information:
    Title of Proposal: Multifamily Insurance Benefits Claims Package.
    OMB Control Number, if applicable: 2502-0415.
    Description of the need for the information and proposed use: The 
claims package requests from the mortgagee the necessary fiscal data 
required for HUD to determine the insurance owned to mortgage lenders 
that filed an insurance claim. When terms of a multifamily contract are 
breached or when a mortgagee meets conditions stated within the 
multifamily contact for an automated assignment, the holder of the 
mortgage may file for insurance benefits. The law, which supports this 
action, is statute 12 U.S.C. 1713(g) and Title II, Section 207(g) of 
the National Housing Act. This Act provides in part 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 (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 there under; (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 24 CFR 207 
Subpart B, Contract Rights and Obligations. The receive these benefits, 
the mortgagee must prepare and submit to HUD the Multifamily Insurance 
Benefits Claims Package.
    Agency form numbers, if applicable: HUD-2742, 2744-A. 2744-B, 2744-
C, 2744-D, and 2744-E.
    Estimation of the total number of hours needed to prepare the 
information collection, including the number of respondents, frequency 
of response and hours of response: The estimated total number of hours 
needed to prepare the information collection is 767; the number of 
respondents is 118 generating approximately 118 annual responses; the 
frequency of response is on occasion, and the estimated time needed to 
prepare the response varies from 15 minutes to 1\1/2\ hours.
    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: March 12, 2003.
Sean G. Cassidy,
General Deputy Assistant Secretary for Housing-Deputy Federal Housing 
Commissioner.
[FR Doc. 03-6609 Filed 3-18-03; 8:45 am]
BILLING CODE 4210-27-M