[Federal Register Volume 71, Number 179 (Friday, September 15, 2006)]
[Proposed Rules]
[Pages 54451-54452]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: E6-15285]


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DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT

24 CFR Parts 203 and 291

[Docket No. FR-4887-N-02]
RIN 2502-AI14


HUD's Accelerated Claim and Asset Disposition (ACD) Program; 
Reopening of Public Comment Period

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

ACTION: Advance notice of proposed rulemaking; reopening of comment 
period.

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SUMMARY: This notice announces the reopening of the public comment 
period on HUD's advance notice of proposed rulemaking (ANPR) regarding 
the Accelerated Claim and Asset Disposition (ACD) program, published on 
June 5, 2006. The June 5, 2006, ANPR provided for a 60-day public 
comment period, which closed on August 4, 2006. In response to recent 
requests for additional time to submit public comments, HUD is 
announcing through this notice that it is reopening the public comment 
period for an additional 30-day period.

DATES: Comment Due Date: Comments on the June 5, 2006, ANPR are due on 
or before October 16, 2006.

ADDRESSES: Interested persons are invited to submit written comments 
regarding this proposed rule to the Regulations Division, Office of 
General Counsel, Department of Housing and Urban Development, 451 
Seventh Street, SW., Room 10276, Washington, DC 20410-0500. Interested 
persons also may submit comments electronically through the Federal 
eRulemaking Portal at: http://www.regulations.gov. Commenters should 
follow the instructions provided on that site to submit comments 
electronically. HUD strongly encourages commenters to submit comments 
electronically in order to make them immediately available to the 
public. All communications should refer to the above docket number and 
title. Facsimile (FAX) comments and e-mail comments are not acceptable. 
A copy of each communication submitted will be available for public 
inspection and copying between 8 a.m. and 5 p.m. weekdays at the above 
address. Due to security measures at the HUD Headquarters building, an 
advance appointment to review the public comments must be scheduled by 
calling the Regulations Division at (202) 708-3055 (this is not a toll-
free number). Persons with hearing or speech

[[Page 54452]]

impairments may access the above telephone number via TTY by calling 
the toll-free Federal Relay Information Service at (800) 877-8339. 
Copies of all comments submitted are available for inspection and 
downloading at http://www.regulations.gov.

FOR FURTHER INFORMATION CONTACT: Kathleen S. Malone, Director, Asset 
Sales Office, Office of Finance and Budget, Department of Housing and 
Urban Development, 451 Seventh Street SW., Room 3136, Washington, DC 
20410-8000; telephone (202) 708-2625 (this is not a toll-free number). 
Persons with hearing and speech impairments may access the phone number 
via TTY by calling the toll-free Federal Information Relay Service at 
(800) 877-8399.

SUPPLEMENTARY INFORMATION: On June 5, 2006 (71 FR 32392), HUD published 
an advance notice of proposed rulemaking (ANPR) soliciting public 
comments on the Department's Accelerated Claim and Asset Disposition 
(ACD) program before HUD issues a proposed rule to codify the ACD 
requirements. When codified, the ACD program will become a permanent 
part of HUD's single family mortgage insurance programs.
    The ACD process is authorized under section 601 of the Departments 
of Veterans Affairs and Housing and Urban Development and Independent 
Agencies Appropriations Act, 1999 (Pub. L. 105-276, approved October 
21, 1998), which amended section 204 of the National Housing Act (12 
U.S.C. 1710) to increase recoveries, produce savings, and improve the 
overall efficiency of the disposition of HUD-acquired single family 
assets. Under amended section 204(a)(1)(A) of the National Housing Act, 
the Secretary of HUD is authorized to pay claims upon assignment of 
certain defaulted FHA-insured mortgage loans.
    Before implementing the new ACD disposition process on a nationwide 
basis, HUD has conducted an ACD Demonstration program involving a group 
of defaulted mortgages. This has allowed HUD to assess the overall 
effectiveness of this disposition process. HUD believes that 
improvements can be made to the program to make it more effective. 
Consequently, before proceeding with the regulatory codification of the 
ACD program, HUD issued the June 5, 2006, ANPR soliciting comments from 
all interested parties, especially those who participated or declined 
to participate in the Demonstration program, on possible improvements 
to the program.
    The June 5, 2006, ANPR provided for a 60-day public comment period, 
which closed on August 4, 2006. In response to recent requests for 
additional time to submit public comments, HUD is announcing through 
this notice that it is reopening the public comment period for an 
additional 30-day period. Interested persons should refer to the June 
5, 2006, ANPR for additional information regarding the ACD process and 
on the topics on which HUD is specifically soliciting public comments. 
The public comments received by HUD, both in response to the original 
June 5, 2006, ANPR and this notice, will be used to develop the future 
proposed rule commencing the rulemaking process to codify the ACD 
program.

    Dated: September 5, 2006.
Brian D. Montgomery,
Assistant Secretary for Housing-Federal Housing Commissioner .
 [FR Doc. E6-15285 Filed 9-14-06; 8:45 am]
BILLING CODE 4210-67-P