2024-19571. 30-Day Notice of Proposed Information Collection: Mortgagee's Application for Partial Settlement (Multifamily Mortgage); OMB Control No.: 2502-0427

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Department of Housing and Urban Development

1. [Docket No. FR-7080-N-46]

AGENCY:

Office of Policy Development and Research, Chief Data Officer, HUD.

ACTION:

Notice.

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 an additional 30 days of public comment.

DATES:

Comments Due Date: September 30, 2024.

ADDRESSES:

Interested persons are invited to submit comments regarding this proposal. Written comments and recommendations for the proposed information collection should be sent within 30 days of publication of this notice to www.regulations.gov or www.reginfo.gov/​public/​do/​PRAMain. ( print page 70658) Find this particular information collection by selecting “Currently under 30-day Review—Open for Public Comments” or by using the search function.

FOR FURTHER INFORMATION CONTACT:

Colette Pollard, Reports Management Officer, REE, Department of Housing and Urban Development, 7th Street SW, Room 8210, Washington, DC 20410; email [e-mail] or telephone [phone]. 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 or 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 is seeking approval from OMB for the information collection described in Section A.

The Federal Register notice that solicited public comment on the information collection for a period of 60 days was published on March 7, 2024 at 89 FR 16586.

A. Overview of Information Collection

Title of Information Collection: Mortgagee's Application for Partial Settlement (Multifamily Mortgage).

OMB Approval Number: 2502-0427.

OMB Expiration Date: August 31, 2024.

Type of Request: Extension of a currently approved collection.

Form Number: HUD-2537, HUD-2747, HUD-1044-D.

Description of the need for the information and proposed use: When a Federal Housing Administration insured Multifamily mortgage goes into default, the Mortgagee may file a claim with the Secretary to receive the insurance benefits. The Mortgagee is required by HUD to furnish form HUD-2537, Mortgagee's Application for Partial Settlement (Multifamily Mortgage), prior to assignment. Once the email or telefax is received with form HUD-2537, HUD pays 70 or 90% of the Unpaid Principal Balance (UPB) plus interest within 24 to 48 hours after assignment or conveyance. Interest will continue to accrue on the claim until the partial settlement is paid. Interest paid on each claim is based on the default date, the escrows reported on form HUD-2537 and the UPB reported.

Respondents: Business or other for-profit; State, Local, or Tribal Government.

Estimated Number of Respondents: 110.

Estimated Number of Responses: 110.

Frequency of Response: 1.

Average Hours per Response: 1.75.

Estimated Burden: 193 hours.

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.

Colette Pollard,

Department Reports Management Officer, Office of Policy Development and Research, Chief Data Officer.