[Federal Register Volume 69, Number 47 (Wednesday, March 10, 2004)]
[Notices]
[Page 11450]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 04-5309]



[[Page 11450]]

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DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT

[Docket No. FR-4907-N-5]


Notice of Proposed Information Collection: Comment Request; 
Mortgagee's Application for Partial Settlement, Multifamily Mortgage

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 10, 2004.

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 
[email protected].

FOR FURTHER INFORMATION CONTACT: Betty Belin, 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 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: Mortgagee's Application for Partial Settlement, 
Multifamily Mortgage.
    OMB Control Number, if applicable: 2505-0427.
    Description of the need for the information and proposed use: When 
a mortgage goes into default, the lender, may elect to file with the 
Department a claim for insurance benefits. 12 U.S.C. 1713(g) and title 
II, section 207(g) of the National Housing Act 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 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 other wise 
acquire 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 * * *'' Within 24 to 48 hours after an 
assignment or conveyance, the Secretary may pay to the mortgagee a 
partial amount of insurance benefits. This payment is made prior to the 
mortgagee filing the claim for insurance benefits. The information 
collected on the subject form, HUD-2537 (Mortgagee's Application for 
Partial Settlement-Multifamily Mortgage) provides the required data to 
determine the partial amount. The partial amount is computed in 
accordance with 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 number 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 
215, frequency of responses is one per claim submission, with an 
estimated time of 15 minutes to complete. Therefore, the total annual 
burden hours requested is 54.
    Status of the proposed information collection: Reinstatement, 
without change, of previously approved collection for which approval 
has expired.

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

    Dated: March 1, 2004.
Sean G. Cassidy,
General Deputy Assistant Secretary for Housing-Deputy Federal Housing 
Commissioner.
[FR Doc. 04-5309 Filed 3-9-04; 8:45 am]
BILLING CODE 4210-27-M