80 FR 41510 - Notice of Single Family Loan Sales (SFLS 2015-1)
DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT Federal Register Volume 80, Issue 135 (July 15, 2015)
Federal Register Volume 80, Issue 135 (July 15, 2015)
| Page Range | 41510-41512 | |
| FR Document | 2015-17271 |
[Federal Register Volume 80, Number 135 (Wednesday, July 15, 2015)] [Notices] [Pages 41510-41512] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2015-17271] ======================================================================= ----------------------------------------------------------------------- DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT [Docket No. FR-5882-N-01] Notice of Single Family Loan Sales (SFLS 2015-1) AGENCY: Office of the Assistant Secretary for Housing--Federal Housing Commissioner, HUD. ACTION: Notice of sales of mortgage loans. ----------------------------------------------------------------------- SUMMARY: This notice announces HUD's intention to competitively sell certain unsubsidized single family mortgage loans in a sealed bid sale offering called SFLS 2015-1, without Federal Housing Administration (FHA) mortgage insurance. This notice also generally describes the bidding process for the sale and certain persons who are ineligible to bid. This is the second sale offering of Fiscal Year (FY) 2015 and the sale will be held on July 15, 2015. DATES: For this sale action, the Bidder's Information Package (BIP) was made available to qualified bidders on or about June 15, 2015. Bids for the 2015-1 sale will be accepted on the Bid Date of July 15, 2015 (Bid Date). HUD anticipates that award(s) will be made on or about July 16, 2015 (the Award Date). [[Page 41511]] ADDRESSES: To become a qualified bidder and receive the BIP, prospective bidders must complete, execute, and submit a Confidentiality Agreement and a Qualification Statement acceptable to HUD. Both documents are available on the HUD Web site at: http://www.hud.gov/sfloansales or via: http://www.verdiassetsales.com. Please mail and fax executed documents to Verdi Consulting, Inc.: Verdi Consulting, Inc., 8400 Westpark Drive, 4th Floor, McLean, VA 22102, Attention: HUD SFLS Loan Sale Coordinator, Fax: 1-703-584-7790. FOR FURTHER INFORMATION CONTACT: John Lucey, Director, Asset Sales Office, Room 3136, Department of Housing and Urban Development, 451 Seventh Street SW., Room 3136, Washington, DC 20410-8000; telephone number 202-708-2625, extension 3927. Hearing- or speech-impaired individuals may call 202-708-4594 (TTY). These are not toll-free numbers. SUPPLEMENTARY INFORMATION: HUD announces its intention to sell in SFLS 2015-1 certain unsubsidized non-performing mortgage loans (Mortgage Loans) secured by single family properties located throughout the United States. A listing of the Mortgage Loans is included in the due diligence materials made available to qualified bidders. The Mortgage Loans will be sold without FHA insurance and with servicing released. HUD will offer qualified bidders an opportunity to bid competitively on the Mortgage Loans. The Loans will be offered in two pool types. The Department will offer national loan pools for bid and will also offer regionally-based pools, with additional purchaser requirements, that are called the Neighborhood Stabilization Outcome pools. One of these Neighborhood Stabilization Outcome pools, in the Detroit Metropolitan Statistical Area, is designated for bidding by qualified non-profit or unit of local government entities only. The Bidding Process The BIP describes in detail the procedure for bidding in SFLS 2015- 1. The BIP also includes a standardized non-negotiable Conveyance, Assignment and Assumption Agreement (CAA Agreement). Qualified bidders will be required to submit a deposit with their bid. Deposits are calculated based upon each qualified bidder's aggregate bid price. HUD will evaluate the bids submitted and determine the successful bid, in terms of the best value to HUD, in its sole and absolute discretion. If a qualified bidder is successful, the qualified bidder's deposit will be non-refundable and will be applied toward the purchase price. Deposits will be returned to unsuccessful bidders. For SFLS 2015-1, settlements are expected to take place on or about August 14, 2015, and September 18, 2015. This notice provides some of the basic terms of sale. The CAA Agreement, which is included in the BIP, provides comprehensive contractual terms and conditions. To ensure a competitive bidding process, the terms of the bidding process and the CAA Agreement are not subject to negotiation. Due Diligence Review The BIP describes how qualified bidders may access the due diligence materials remotely via a high-speed Internet connection. Mortgage Loan Sale Policy HUD reserves the right to remove Mortgage Loans from SFLS 2015-1 at any time prior to the Award Date. HUD also reserves the right to reject any and all bids, in whole or in part, and include any Mortgage Loans in a later sale. Deliveries of Mortgage Loans will occur in at least two monthly settlements and the number of Mortgage Loans delivered will vary depending upon the number of Mortgage Loans the Participating Servicers have submitted for the payment of an FHA insurance claim. The Participating Servicers will not be able to submit claims on loans that are not included in the Mortgage Loan Portfolio set forth in the BIP. There can be no assurance that any Participating Servicer will deliver a minimum number of Mortgage Loans to HUD or that a minimum number of Mortgage Loans will be delivered to the Purchaser. The SFLS 2015-1 Mortgage Loans are assigned to HUD pursuant to section 204(a)(1)(A) of the National Housing Act as amended under Title VI of the Departments of Veterans Affairs and Housing and Urban Development and Independent Agencies Appropriations Act, 1999. The sale of the Mortgage Loans is pursuant to section 204(g) of the National Housing Act. Mortgage Loan Sale Procedure HUD selected an open competitive whole-loan sale as the method to sell the Mortgage Loans for this specific sale transaction. For SFLS 2015-1, HUD has determined that this method of sale optimizes HUD's return on the sale of these Mortgage Loans, affords the greatest opportunity for all qualified bidders to bid on the Mortgage Loans, and provides the quickest and most efficient vehicle for HUD to dispose of the Mortgage Loans. Bidder Ineligibility In order to bid in SFLS 2015-1 as a qualified bidder, a prospective bidder must complete, execute and submit both a Confidentiality Agreement and a Qualification Statement acceptable to HUD and applicable to the loan pool being purchased. In the Qualification Statement, the prospective bidder must provide certain representations and warranties regarding (i) a prospective bidder, (ii) a prospective bidder's board of directors, (iii) a prospective bidder's direct parent, (iii) a prospective bidder's subsidiaries, and (iv) any related entity with which the prospective bidder shares a common officer, director, subcontractor or sub-contractor who has access to Confidential Information as defined in the Confidentiality Agreement or is involved in the formation of a bid transaction (``Related Entities''), and (v) a prospective bidder's repurchase lenders. The prospective bidder is ineligible to bid on any of the Mortgage Loans included in SFLS 2015-1 if the prospective bidder, its Related Entities or its repurchase lenders, is any of the following, unless other exceptions apply as provided for in the Qualification Statement. 1. An individual or entity that is currently debarred, suspended, or excluded from doing business with HUD pursuant to the Governmentwide Suspension and Debarment regulations at Title 2 of the Code of Federal Regulations, parts 180 and 2424; 2. An individual or entity that is currently suspended, debarred or otherwise restricted by any department or agency of the federal government or of a state government from doing business with such department or agency; 3. An individual or entity that is currently debarred, suspended, or excluded from doing mortgage related business, including having a business license suspended, surrendered or revoked, by any federal, state or local government agency, division or department; 4. An entity that has had its right to act as a Government National Mortgage Association (``Ginnie Mae'') issuer terminated and its interest in mortgages backing Ginnie Mae mortgage-backed securities extinguished by Ginnie Mae; 5. An individual or entity that is in violation of its neighborhood stabilizing outcome obligations or post-sale reporting requirements under a Conveyance, Assignment and [[Page 41512]] Assumption Agreement executed for a past sale; 6. An employee of HUD's Office of Housing, a member of such employee's household, or an entity owned or controlled by any such employee or member of such an employee's household with household to be inclusive of the employee's father, mother, stepfather, stepmother, brother, sister, stepbrother, stepsister, son, daughter, stepson, stepdaughter, grandparent, grandson, granddaughter, father-in-law, mother-in-law, brother-in-law, sister-in-law, son-in-law, daughter-in- law, first cousin, the spouse of any of the foregoing, and the employee's spouse; 7. A contractor, subcontractor and/or consultant or advisor (including any agent, employee, partner, director, or principal of any of the foregoing) who performed services for or on behalf of HUD in connection with the sale; 8. An individual or entity that knowingly acquired or will acquire prior to the sale date material non-public information, other than that information which is made available to Bidder by HUD pursuant to the terms of this Qualification Statement, about Mortgage Loans offered in the sale; 9. An individual or entity that knowingly uses the services, directly or indirectly, of any person or entity ineligible under 1 through 11 to assist in preparing any of its bids on the Mortgage Loans; 10. An individual or entity which knowingly employs or uses the services of an employee of HUD's Office of Housing (other than in such employee's official capacity); or 11. A Participating Servicer that contributed Mortgage Loans to a pool on which the Bidder is placing a bid. The Qualification Statement has additional representations and warranties which the prospective bidder must make, including but not limited to the representation and warranty that the prospective bidder or its Related Entities are not and will not knowingly use the services, directly or indirectly, of any person or entity that is, any of the following (and to the extent that any such individual or entity would prevent Bidder from making the following representations, such individual or entity has been removed from participation in all activities related to this sale and has no ability to influence or control individuals involved in formation of a bid for this sale): (1) An entity or individual is ineligible to bid on any included Mortgage Loan or on the pool containing such Mortgage Loan because it is an entity or individual that: (a) Serviced or held any Mortgage Loan at any time during the two- year period prior to the bid, or (b) is any principal of any entity or individual described in the preceding sentence; (c) any employee or subcontractor of such entity or individual during that two-year period; or (d) any entity or individual that employs or uses the services of any other entity or individual described in this paragraph in preparing its bid on such Mortgage Loan. Freedom of Information Act Requests HUD reserves the right, in its sole and absolute discretion, to disclose information regarding SFLS 2015-1, including, but not limited to, the identity of any successful qualified bidder and its bid price or bid percentage for any pool of loans or individual loan, upon the closing of the sale of all the Mortgage Loans. Even if HUD elects not to publicly disclose any information relating to SFLS 2015-1, HUD will disclose any information that HUD is obligated to disclose pursuant to the Freedom of Information Act and all regulations promulgated thereunder. Scope of Notice This notice applies to SFLS 2015-1 and does not establish HUD's policy for the sale of other mortgage loans. Dated: July 1, 2015. Edward L. Golding, Principal Deputy Assistant Secretary for Housing. [FR Doc. 2015-17271 Filed 7-14-15; 8:45 am] BILLING CODE 4210-67-P
![41510 Federal Register / Vol. 80, No. 135 / Wednesday, July 15, 2015 / Notices
including any personal information Code for the Construction and 5. USCG presentations on the
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notice regarding our public dockets in Chemicals in Bulk (commonly known as a. Update on International Maritime
the January 17, 2008, issue of the the IBC Code). Organization activities as they relate to
Federal Register (73 FR 3316). (5) Improving Implementation of and the marine transportation of hazardous
Docket: For access to the docket to Education about MARPOL Discharge materials.
read documents or comments related to Requirements under MARPOL Annex II b. Update on U.S. regulations and
this notice, go to http:// and V. policy initiatives as they relate to the
www.regulations.gov, type USCG–2015– (6) Vapor Control System Regulation marine transportation of hazardous
0628 in the Search box, press Enter, and supplementation, corrections and materials.
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FOR FURTHER INFORMATION CONTACT: the last committee meeting are located 7. Set next meeting date and location.
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Federal Officer of the Chemical https://homeport.uscg.mil. Go to: schedule.
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this meeting is given under the Federal Transportation Advisory Committee
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Advisory Committee Act, 5 United meeting on August 6, 2015, on tasks
assigned in detailed task statements J.G. Lantz,
States Code Appendix. Director of Commercial Regulations and
The Chemical Transportation mentioned above.
4. Public comment period. Standards, United States Coast Guard.
Advisory Committee is an advisory [FR Doc. 2015–17358 Filed 7–14–15; 8:45 am]
committee authorized under section 871 Full Committee Meeting on August 6, BILLING CODE 9110–04–P
of the Homeland Security Act of 2002, 2015
6 United States Code 451, and is
The agenda for the Chemical
chartered under the provisions of the
Transportation Advisory Committee DEPARTMENT OF HOUSING AND
Federal Advisory Committee Act. The
meeting on August 6, 2015, is as URBAN DEVELOPMENT
committee acts solely in an advisory
follows:
capacity to the Secretary of the 1. Introductions and opening remarks. [Docket No. FR–5882–N–01]
Department of Homeland Security 2. Marine Transportation System
through the Commandant of the Coast Presentation. Notice of Single Family Loan Sales
Guard and the Deputy Commandant for 3. Coast Guard Leadership Remarks. (SFLS 2015–1)
Operations on matters relating to safe 4. Committee will review, discuss,
and secure marine transportation of and formulate recommendations on the AGENCY: Office of the Assistant
hazardous materials activities insofar as following tasks: Secretary for Housing—Federal Housing
they relate to matters within the United a. Harmonization of Response and Commissioner, HUD.
States Coast Guard’s jurisdiction. The Carriage Requirements for Biofuels and ACTION: Notice of sales of mortgage
Committee advises, consults with, and Biofuel Blends. loans.
makes recommendations reflecting its b. Recommendations on Safety
independent judgment to the Secretary. Standards for the Design of Vessels SUMMARY: This notice announces HUD’s
Carrying Natural Gas or Using Natural intention to competitively sell certain
Agendas of Meetings unsubsidized single family mortgage
Gas as Fuel.
Subcommittee Meetings on August 4 c. Recommendations for Safety loans in a sealed bid sale offering called
and 5, 2015 Standards for Ship to Ship Transfer of SFLS 2015–1, without Federal Housing
The subcommittee meetings will Hazardous Material Outside of the Administration (FHA) mortgage
separately address the following tasks: Baseline. insurance. This notice also generally
(1) Harmonization of Response and d. Recommendations for Guidance on describes the bidding process for the
Carriage Requirements for Biofuels and the Implementation of Revisions to sale and certain persons who are
Biofuel Blends. MARPOL Annex II and the International ineligible to bid. This is the second sale
(2) Recommendations on Safety Code for the Construction and offering of Fiscal Year (FY) 2015 and the
Standards for the Design of Vessels Equipment of Ships Carrying Dangerous sale will be held on July 15, 2015.
Carrying Natural Gas or Using Natural Chemicals in Bulk (commonly known as DATES: For this sale action, the Bidder’s
mstockstill on DSK4VPTVN1PROD with NOTICES
Gas as Fuel. the IBC Code). Information Package (BIP) was made
(3) Recommendations for Safety e. Improving Implementation of and available to qualified bidders on or
Standards for Ship to Ship Transfer of Education about MARPOL Discharge about June 15, 2015. Bids for the 2015–
Hazardous Material Outside of the Requirements under MARPOL Annex II 1 sale will be accepted on the Bid Date
Baseline. and V. of July 15, 2015 (Bid Date). HUD
(4) Recommendations for Guidance on f. Vapor Control System Regulation anticipates that award(s) will be made
the Implementation of Revisions to supplementation, corrections and on or about July 16, 2015 (the Award
MARPOL Annex II and the International improvements. Date).
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![41512 Federal Register / Vol. 80, No. 135 / Wednesday, July 15, 2015 / Notices
Assumption Agreement executed for a (a) Serviced or held any Mortgage an additional 30 days, for state
past sale; Loan at any time during the two-year government nominees only. If you have
6. An employee of HUD’s Office of period prior to the bid, or already submitted information to be
Housing, a member of such employee’s (b) is any principal of any entity or considered for appointment to the
household, or an entity owned or individual described in the preceding Committee you do not have to resubmit
controlled by any such employee or sentence; it.
member of such an employee’s (c) any employee or subcontractor of DATES: Written nominations must be
household with household to be such entity or individual during that received by August 14, 2015.
inclusive of the employee’s father, two-year period; or ADDRESSES: Send nominations to: Robin
mother, stepfather, stepmother, brother, (d) any entity or individual that O’Malley, Policy and Partnership
sister, stepbrother, stepsister, son, employs or uses the services of any Coordinator, National Climate Change
daughter, stepson, stepdaughter, other entity or individual described in and Wildlife Science Center, U.S.
grandparent, grandson, granddaughter, this paragraph in preparing its bid on Geological Survey, 12201 Sunrise Valley
father-in-law, mother-in-law, brother-in- such Mortgage Loan. Drive, Mail Stop 516, Reston, VA 20192,
law, sister-in-law, son-in-law, daughter- romalley@usgs.gov.
in-law, first cousin, the spouse of any of Freedom of Information Act Requests
FOR FURTHER INFORMATION CONTACT:
the foregoing, and the employee’s HUD reserves the right, in its sole and
spouse; Robin O’Malley, Policy and Partnership
absolute discretion, to disclose Coordinator, National Climate Change
7. A contractor, subcontractor and/or information regarding SFLS 2015–1,
consultant or advisor (including any and Wildlife Science Center, U.S.
including, but not limited to, the Geological Survey, 12201 Sunrise Valley
agent, employee, partner, director, or identity of any successful qualified
principal of any of the foregoing) who Drive, Mail Stop 516, Reston, VA 20192,
bidder and its bid price or bid romalley@usgs.gov.
performed services for or on behalf of percentage for any pool of loans or
HUD in connection with the sale; SUPPLEMENTARY INFORMATION: On March
individual loan, upon the closing of the
8. An individual or entity that 30, 2015, the U.S. Department of the
sale of all the Mortgage Loans. Even if
knowingly acquired or will acquire Interior (DOI) published a notice
HUD elects not to publicly disclose any
prior to the sale date material non- inviting nominations for the Advisory
information relating to SFLS 2015–1,
public information, other than that Committee on Climate Change and
HUD will disclose any information that
information which is made available to Natural Resource Science (Committee).
HUD is obligated to disclose pursuant to
Bidder by HUD pursuant to the terms of On June 8, 2015, the DOI published a
the Freedom of Information Act and all
this Qualification Statement, about notice extending this comment period
regulations promulgated thereunder.
Mortgage Loans offered in the sale; for an additional 30 days, with a closing
9. An individual or entity that Scope of Notice date of July 8, 2015. The Committee
knowingly uses the services, directly or This notice applies to SFLS 2015–1 provides advice on matters and actions
indirectly, of any person or entity and does not establish HUD’s policy for relating to the establishment and
ineligible under 1 through 11 to assist the sale of other mortgage loans. operations of the U.S. Geological Survey
in preparing any of its bids on the National Climate Change and Wildlife
Dated: July 1, 2015. Science Center and the DOI Climate
Mortgage Loans;
10. An individual or entity which Edward L. Golding, Science Centers. See: https://
knowingly employs or uses the services Principal Deputy Assistant Secretary for nccwsc.usgs.gov/acccnrs for more
of an employee of HUD’s Office of Housing. information.
Housing (other than in such employee’s [FR Doc. 2015–17271 Filed 7–14–15; 8:45 am] Contacts with potential nominees
official capacity); or BILLING CODE 4210–67–P from state government have indicated
11. A Participating Servicer that that additional time to secure
contributed Mortgage Loans to a pool on management approval of their
which the Bidder is placing a bid. DEPARTMENT OF THE INTERIOR nomination is required. Because state
The Qualification Statement has governments are a key partner, the
additional representations and Geological Survey Department is reopening the nomination
warranties which the prospective bidder period, for state government nominees
[GX15EN05ESB0500]
must make, including but not limited to only.
the representation and warranty that the Reopening of Nomination Period for Nominations should include a resume
prospective bidder or its Related State Government Members of the that describes the nominee’s
Entities are not and will not knowingly Advisory Committee on Climate qualifications in enough detail to enable
use the services, directly or indirectly, Change and Natural Resource Science us to make an informed decision
of any person or entity that is, any of the regarding meeting the membership
following (and to the extent that any AGENCY: U.S. Geological Survey, requirements of the Committee and to
such individual or entity would prevent Interior. contact a potential member.
Bidder from making the following ACTION: Notice. The Committee will be composed of
representations, such individual or approximately 25 members from the
entity has been removed from SUMMARY: The U.S. Department of the Federal Government, and the following
participation in all activities related to Interior published a notice inviting interests: (1) State and local
mstockstill on DSK4VPTVN1PROD with NOTICES
this sale and has no ability to influence nominations for non-Federal members governments, including state
or control individuals involved in of the Advisory Committee on Climate membership entities; (2) Non-
formation of a bid for this sale): Change and Natural Resource Science governmental organizations, including
(1) An entity or individual is (Committee). The initial closing date for those whose primary mission is
ineligible to bid on any included nominations was June 1, 2015, and this professional and scientific and those
Mortgage Loan or on the pool containing nomination period was extended to July whose primary mission is conservation
such Mortgage Loan because it is an 8. This Federal Register Notice reopens and related scientific and advocacy
entity or individual that: the nomination and comment period for activities; (3) American Indian tribes
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Document Created: 2015-12-15 13:32:22
Document Modified: 2015-12-15 13:32:22
| Category | Regulatory Information | |
| Collection | Federal Register | |
| sudoc Class | AE 2.7: GS 4.107: AE 2.106: | |
| Publisher | Office of the Federal Register, National Archives and Records Administration | |
| Section | Notices | |
| Action | Notice of sales of mortgage loans. | |
| Dates | For this sale action, the Bidder's Information Package (BIP) was made available to qualified bidders on or about June 15, 2015. Bids for the 2015-1 sale will be accepted on the Bid Date of July 15, 2015 (Bid Date). HUD anticipates that award(s) will be made on or about July 16, 2015 (the Award Date). | |
| Contact | John Lucey, Director, Asset Sales Office, Room 3136, Department of Housing and Urban Development, 451 Seventh Street SW., Room 3136, Washington, DC 20410-8000; telephone number 202-708-2625, extension 3927. Hearing- or speech-impaired individuals may call 202-708-4594 (TTY). These are not toll-free numbers. | |
| FR Citation | 80 FR 41510 |
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