[Federal Register Volume 72, Number 120 (Friday, June 22, 2007)]
[Notices]
[Pages 34473-34474]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: E7-12132]


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DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT

[Docket No. FR-5121-N-19]


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: August 21, 2007.

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: Lillian Deitzer, Reports 
Management Officer, Department of Housing and Urban Development, 451 
7th Street, Room 4178, 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: 2502-0427.
    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 
deliver 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 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 and receive the benefits of the insurance as herein 
provided upon (1) the prompt conveyance to the Secretary the title of 
the property * * *'' The Mortgagee may receive a portion of the 
benefits immediately after the assignment of conveyance.
    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 id computed in accordance with foregoing statutory 
provisions and regulations promulgated there under in 24 CFR 207 (B), 
Contract rights Obligations.
    Agency form numbers, if applicable: HUD-2537.
    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 
215, the frequency of response is one per claim submission, the total 
annual burden hours requested is 54.
    Status of the proposed information collection: Extension of a 
currently approved collection.


[[Page 34474]]


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

    Dated: June 18, 2007.
Frank L. Davis,
General Deputy Assistant Secretary for Housing-Deputy Federal Housing 
Commissioner.
 [FR Doc. E7-12132 Filed 6-21-07; 8:45 am]
BILLING CODE 4210-67-P