[Federal Register Volume 88, Number 236 (Monday, December 11, 2023)]
[Notices]
[Pages 85904-85905]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2023-27046]


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DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT

[Docket No. FR-7071-N-14]


60-Day Notice of Proposed Information Collection: Electronic 
Closing and Continued First Lien Priority Certificates for FHA-Insured 
Commercial Mortgage Transactions; OMB Control No.: 2502-0618

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

ACTION: Notice.

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SUMMARY: HUD is seeking approval from the Office of Management and 
Budget (OMB) for the information collection described below. In 
accordance with the Paperwork Reduction Act, HUD is requesting comment 
from all interested parties on the proposed collection of information. 
The purpose of this notice is to allow for 60 days of public comment.

DATES: Comments Due Date: February 9, 2024.

ADDRESSES: Interested persons are invited to submit comments regarding 
this proposal. Written comments and recommendations for the proposed 
information collection can be submitted within 60 days of publication 
of this notice to www.reginfo.gov/public/do/PRAMain. Find this 
particular information collection by selecting ``Currently under 60-day 
Review--Open for Public Comments'' or by using the search function. 
Interested persons are also invited to submit comments regarding this 
proposal by name and/or OMB Control Number and can be sent to: Colette 
Pollard, Reports Management Officer, REE, Department of Housing and 
Urban Development, 451 7th Street SW, Room 8210, Washington, DC 20410-
5000 or email at [email protected].

FOR FURTHER INFORMATION CONTACT: Colette Pollard, Reports Management 
Officer, REE, Department of Housing and Urban Development, 451 7th 
Street SW, Washington, DC 20410; email [email protected] ; 
telephone 202-402-3400. This is not a toll-free number. HUD welcomes 
and is prepared to receive calls from individuals who are deaf or hard 
of hearing, as well as individuals with speech and communication 
disabilities. To learn more about how to make an accessible telephone 
call, please visit https://www.fcc.gov/consumers/guides/telecommunications-relay-service-trs.
    Copies of available documents submitted to OMB may be obtained from 
Ms. Pollard.

SUPPLEMENTARY INFORMATION: This notice informs the public that HUD has 
submitted to OMB a request for approval of the information collection 
described in Section A.

A. Overview of Information Collection

    Title of Information Collection: Electronic Closing and Continued 
First Lien Priority Certificates for FHA-Insured Commercial Mortgage 
Transactions.
    OMB Approval Number: 2502-0618.
    OMB Expiration Date: 03/31/2024.
    Type of Request: Revision of currently approved collection.
    Form Numbers: HUD-5985L, HUD-5985B, and HUD-5985IRR.
    Description of the need for the information and proposed use:

[[Page 85905]]

    HUD is adding to the collection two (2) documents (HUD-5985L and 
HUD-5985B) that will be used to facilitate uniform electronic closings 
of FHA-insured commercial mortgage closings, allow for the use of 
digital signatures and digital records where they are consistent with 
program obligations, and determine the parties' compliance with 
applicable legal requirements and therefore ensure protection of the 
FHA insurance fund; and one (1) document (HUD-5985IRR) that will be 
used by the FHA Lender to certify to HUD certain conditions required as 
part of a request to reduce the interest rate of an existing FHA-
insured commercial mortgage (often due to market fluctuations that 
lower the interest rate and save the project money by making this 
reduction). In addition, the name of this collection is being changed 
from COVID19 HUD Contingency Plan for HUD Multifamily Rental Project 
Closing Documents to Electronic Closing and Continued First Lien 
Priority Certificates for FHA-Insured Commercial Mortgage Transactions.
    Respondents: Business or other for-profit, Not-for-profit 
institutions, State, Local or Tribal Government.
    Estimated Number of Respondents: 3,094.
    Estimated Number of Responses: 3,217.
    Frequency of Response: 1.033 per annum.
    Average Hours per Response: 0.833 hour.
    Total Estimated Burden: 2,900.

B. Solicitation of Public Comment

    This notice is soliciting comments from members of the public and 
affected parties concerning the collection of information described in 
Section A on the following:
    (1) Whether the proposed collection of information is necessary for 
the proper performance of the functions of the agency, including 
whether the information will have practical utility;
    (2) The accuracy of the agency's estimate of the burden of the 
proposed collection of information;
    (3) Ways to enhance the quality, utility, and clarity of the 
information to be collected; and
    (4) Ways to minimize the burden of the collection of information on 
those who are to respond; including through the use of appropriate 
automated collection techniques or other forms of information 
technology, e.g., permitting electronic submission of responses.
    HUD encourages interested parties to submit comment in response to 
these questions.

C. Authority

    Section 3507 of the Paperwork Reduction Act of 1995, 44 U.S.C. 
Chapter 35

Jeffrey D. Little,
General Deputy Assistant Secretary, Office of Housing.
[FR Doc. 2023-27046 Filed 12-8-23; 8:45 am]
BILLING CODE 4210-67-P