83 FR 60440 - 60-Day Notice of Proposed Information Collection: Legal Instructions Concerning Applications for Full Insurance Benefits-Assignment of Multifamily Mortgages to the Secretary

DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT

Federal Register Volume 83, Issue 227 (November 26, 2018)

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.

[Federal Register Volume 83, Number 227 (Monday, November 26, 2018)]
[Notices]
[Pages 60440-60441]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2018-25656]


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DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT

[Docket No. FR-7000-N-02]


60-Day Notice of Proposed Information Collection: Legal 
Instructions Concerning Applications for Full Insurance Benefits--
Assignment of Multifamily Mortgages to the Secretary

AGENCY: Office of the General Counsel, 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: January 25, 2019.

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: Nacheshia Foxx, Reports Liaison 
Officer, Department of Housing and Urban Development, 451 Seventh 
Street SW, Room 10276, Washington, DC 20410-0500.

FOR FURTHER INFORMATION CONTACT: Arnette Georges, Assistant General 
Counsel for Multifamily Mortgage Division, Office of General Counsel, 
Department of Housing and Urban Development, 451 7th Street SW, Room 
9230, Washington, DC 20410-0500 telephone 202-402-3826. This is not a 
toll-free number. Persons with hearing or speech impairments may access 
this number through TTY by calling the toll-free Federal Relay Service 
at (800) 877-8339.
    Copies of available documents submitted to OMB may be obtained from 
Ms. Foxx.

SUPPLEMENTARY INFORMATION: This notice informs the public that HUD is 
seeking approval from OMB for the information collection described in 
Section A.

A. Overview of Information Collection

    Title of Information Collection: Legal Instructions Concerning 
Applications for Full Insurance Benefits--Assignment of Multifamily 
Mortgage to the Secretary.
    OMB Approval Number: 2510-0006.
    Type of Request: Extension of a currently approved collection.
    Form Number: N/A.
    Description of the Need for the Information and Proposed Use: 
Mortgagees of FHA-insured mortgages may receive mortgage insurance 
benefits upon assignment of mortgages to the Secretary. In connection 
with the assignment, legal documents (e.g., mortgage, mortgage note, 
security agreement, title insurance policy) must be submitted to the 
Department. The instructions contained in the Legal Instructions 
Concerning Applications for Full Insurance Benefits--Assigment of 
Multifamily Mortgage describe the documents to be submitted and the 
procedures for submission.
    The Legal Instructions Concerning Applications for Full Insurance 
Benefits--Assigment of Multifamily Mortgage, in its current form and 
structure, can be found at https://www.hud.gov/sites/documents/LEGINSTRFULLINSBEN.PDF.
    HUD proposes to revise this document to reflect changes in the 
multifamily rental and healthcare programs since 2011, address physical 
documentation requirements for electronic UCC filings, update 
instructions for Section 232-insured loans that were processed under 
LEAN and/or portfolio structures, and other clarifying changes to 
reflect current HUD requiments and policies, as well as current 
practices in real estate, title insurance and mortgage financing 
transactions.
    Agency Form Numbers, if Applicable: N/A.
    Members of Affected Public: FHA-approved Mortgagees who have or 
will have multifamily rental or healthcare loans.
    Estimation of the total numbers of hours needed to prepare the 
information collection including number of respondents, frequency of 
response, and hours of response:

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                                                                                                   Total burden
            Number of respondents                Burden hours        Frequency of response            hours
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110..........................................              26   Occasion.......................           2,860
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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;
    (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 or 
revising the physical documentions requirements for electronically 
filed or issued response;
    (5) Ways to reflect changes to the Security Instrument (HUD 
94000M), which also serves as the Security Agreement;
    (6) Ways to reflect bonds, master lease, or condominium structures 
in multifamily rental projects;
    (7) Ways to update the instructions for assigning non-traditional 
loan documents (including LEAN-related documents) and acceptable 
recording/assignment criteria; and
    (8) Ways to update the instruactions to accommodate portfolio 
structures and other changes in FHA's Healthcare Programs.

[[Page 60441]]

    HUD encourages interested parties to submit comment in response to 
these questions.

    Authority:  12 U.S.C. 1701z-1 Research and Demonstrations.

    Dated: November 20, 2018.
Ariel Pereira,
Associate General Counsel for Legislation & Regulations.
[FR Doc. 2018-25656 Filed 11-23-18; 8:45 am]
 BILLING CODE 4210-67-P