[Federal Register Volume 75, Number 143 (Tuesday, July 27, 2010)]
[Notices]
[Pages 44003-44004]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2010-18402]


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DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT

[Docket No. FR-5380-N-28]


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

AGENCY: Office of the Assistant Secretary for Housing, 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: September 27, 2010.

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: Leroy McKinney, Jr., Departmental 
Reports Management Officer, QDAM, Department of Housing and Urban 
Development, 451 7th Street, SW., Washington, DC 20410; e-mail 
[email protected] or telephone (202) 402-5564 or the number for 
the Federal Information Relay Service (1-800-877-8339).

FOR FURTHER INFORMATION CONTACT: Rebecca Lovelace, Accountant, 
Multifamily Claims Branch, Department of Housing and Urban Development, 
451 7th Street, SW., Washington, DC 20410, e-mail telephone (202) 402-
3987 (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

[[Page 44004]]

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: Multifamily Mortgagee's Application for Partial 
Settlement.
    OMB Control Number, if applicable: 2502-0427.
    Description of the need for the information and proposed use:

    1. When a FHA-insured Multifamily mortgage goes into default, 
the Mortgagee may file a claim with the Secretary to receive the 
insurance benefits. Statute 12 USC 1713(g)-(r) 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 so 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 otherwise acquired 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 * * * '' The 
Mortgagee may receive a portion of the benefits immediately after 
the assignment or conveyance.
    2. The respondents are only those mortgagees that elect to 
assign property to HUD. There are approximately 115 such mortgagees 
annually. When the mortgagee notifies HUD of an election to assign a 
property to HUD, HUD sends the mortgagee an e-mail with instructions 
for submitting its claim (see Attachment 1). This request addresses 
only the Application for Partial Settlement. Within 24 to 48 hours 
after an assignment or conveyance, the Secretary may pay the 
Mortgagee a partial amount of insurance benefits. This payment is 
made prior to the examination of the Mortgagee's claim. The 
information collected on the subject form, HUD-2537 (Mortgagee's 
Application for Partial Settlement-Multifamily Mortgage), provides 
the required information to determine the partial amount. This 
amount is computed in accordance with the 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 numbers of hours needed to prepare the 
information collection including number of respondents, frequency of 
response, and hours of response: The number of annual burden hours is 
29. The number of respondents is 115 per year, the number of responses 
is 115, the frequency of response is on occasion, and the burden hour 
per response is .25.
    Status of the proposed information collection: This is a request 
for renewal of a currently approved collection.

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

    Dated: July 22, 2010.
Ronald Y. Spraker,
Associate General Deputy Assistant Secretary for Housing.
[FR Doc. 2010-18402 Filed 7-26-10; 8:45 am]
BILLING CODE 4210-67-P