95-24905. Sale of HUD-Held Single Family Mortgages; Correction

[Federal Register Volume 60, Number 194 (Friday, October 6, 1995)]
[Rules and Regulations]
[Page 52296]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 95-24905]



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DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT

Office of the Assistant Secretary for Housing-Federal Housing 
Commissioner

24 CFR Part 291

[Docket No. FR-3814-C-02]
RIN 2502-AG42


Sale of HUD-Held Single Family Mortgages; Correction

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

ACTION: Interim rule; correction.

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SUMMARY: This document corrects an interim rule that HUD published in 
the Federal Register on August 31, 1995 (60 FR 45331) regarding the 
sale of HUD-held single family mortgages. The August 31, 1995 interim 
rule inadvertently described several categories of ineligible bidders. 
However, HUD intended the rule to contain only one category of 
ineligible bidders--individuals or entities debarred from doing 
business with HUD. This correction will broaden the category of 
eligible bidders in HUD's single family mortgage sales, excluding only 
those individuals or entities that have been debarred from doing 
business with HUD.

DATES: The dates listed in the August 31, 1995 interim rule remain 
unchanged.

FOR FURTHER INFORMATION CONTACT: Joseph Bates, Director, Single Family 
Servicing, Office of Housing, Room 9178, Department of Housing and 
Urban Development, 451 Seventh Street SW, Washington, D.C. 20410, 
telephone [phone]. Hearing- or speech-impaired individuals may 
call the TDD number [phone]. (These telephone numbers are not 
toll-free.)

SUPPLEMENTARY INFORMATION: HUD published an interim rule to establish 
policies and procedures for the sale of HUD-held single family 
mortgages on August 31, 1995 (60 FR 45331). The interim rule provided 
that individuals or entities would be ineligible to bid if they fell 
into one of the following three categories: They are on HUD's most 
recent ``Consolidated List of Debarred, Suspended or Ineligible 
Contractors and Grantees,'' they are on probation or under a limited 
denial of participation, or they are subject to a withdrawal of 
approval or other sanctions. However, immediately before the interim 
rule was published, HUD determined that it would exclude from 
participation only those individuals or entities that had been debarred 
from doing business with HUD. HUD inadvertently failed to change the 
rule language to reflect this determination.
    Therefore, this document corrects the preamble language of the 
interim rule and Sec. 291.303 of the rule text by removing the 
descriptions of several categories of ineligible bidders and replacing 
them with one category of ineligible bidders, individuals or entities 
debarred from doing business with HUD. This correction will broaden the 
category of eligible bidders in HUD's single family mortgage sales, 
excluding only those individuals or entities that have been debarred 
from doing business with HUD.
    Accordingly, FR Doc. 95-21449, an interim rule published in the 
Federal Register on August 31, 1995 (60 FR 45331) is corrected as 
follows:
    1. On page 45332, in the preamble, in the second column, in the 
fourth paragraph under the heading ``Sales Policy,'' the last sentence, 
which begins ``In addition, * * *'' is corrected to read as follows:

SUPPLEMENTARY INFORMATION:

* * * * *
Sales Policy
* * * * *
    * * * In addition, parties who are currently debarred pursuant to 
24 CFR part 24, are ineligible to bid, either as an individual or 
participant, for any of the loan pools.
* * * * *
    2. On page 45334, in column one, Sec. 291.303 is corrected to read 
as follows:


Sec. 291.303  Eligible bidders.

    HUD will provide information on the eligibility of bidders in the 
Bid Package, a Notice in the Federal Register, or other means, at the 
Secretary's full discretion. However, an individual, partnership, 
corporation, or other legal entity will not be eligible to bid for any 
loan pool, either as an individual or a participant, if at the time of 
the sale, that individual or entity is debarred from doing business 
with HUD pursuant to 24 CFR part 24.

    Dated: September 29, 1995.
Nicolas P. Retsinas,
Assistant Secretary for Housing-Federal Housing Commissioner.
[FR Doc. 95-24905 Filed 10-5-95; 8:45 am]
BILLING CODE 4210-27-P