Notice2023-07639
30-Day Notice of Proposed Information Collection: Multifamily Default Status Report
Primary source
Metadata and text below are from the Federal Register, a public-domain U.S. government work. Always verify the official published version before relying on it for any legal matter.
Published
April 12, 2023
Issuing agencies
Housing and Urban Development Department
Abstract
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.
Full Text
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<title>Federal Register, Volume 88 Issue 70 (Wednesday, April 12, 2023)</title>
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[Federal Register Volume 88, Number 70 (Wednesday, April 12, 2023)]
[Notices]
[Page 22060]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2023-07639]
[[Page 22060]]
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DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT
[Docket No. FR-7070-N-20; OMB Control No. 2502-0041]
30-Day Notice of Proposed Information Collection: Multifamily
Default Status Report
AGENCY: Office of Policy Development and Research, Chief Data Officer,
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 an additional 30 days of
public comment.
DATES: Comments Due Date: May 12, 2023.
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 <a href="http://www.reginfo.gov/public/do/PRAMain">www.reginfo.gov/public/do/PRAMain</a>. 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 Colette Pollard at
<a href="/cdn-cgi/l/email-protection#035362736671746c71685166677660776a6c6d4260774c65656a6066436b76672d646c75"><span class="__cf_email__" data-cfemail="712110011403061e031a231415041205181e1f3012053e1717181214311904155f161e07">[email protected]</span></a> or 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 or communication disabilities. To learn more
about how to make an accessible telephone call, please visit <a href="https://www.fcc.gov/consumers/guides/telecommunications-relay-service-trs">https://www.fcc.gov/consumers/guides/telecommunications-relay-service-trs</a>.
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
November 8, 2022 at 87 FR 67482.
A. Overview of Information Collection
Title of Information Collection: Multifamily Default Status Report.
OMB Approval Number: 2502-0041.
OMB Expiration Date: April 30, 2023.
Type of Request: Extension of a currently approved collection.
Form Number: N/A.
Description of the need for the information and proposed use: The
regulations at 24 CFR 207.256, 24 CFR 207.256a, and 24 CFR 207.258
require a mortgagee to notify HUD when a mortgage payment is in default
(more than 30 days past due), when a mortgage has been reinstated, and
to submit an election to assign a defaulted loan to HUD within a
specified timeframe from the date of default. The regulation at 24 CFR
200, Subpart B, requires lenders to submit delinquency, default,
election to assign, and other related loan information statuses
electronically to HUD. Lenders previously used HUD Form 92426 for these
submissions, however, with the implementation of the regulation
requiring electronic notification, the Multifamily Delinquency and
Default Reporting System (MDDR) was established to replace the paper
form HUD-92426. HUD uses the information as an early warning mechanism
to work with project owners and lenders to develop a plan that will
reinstate a loan and avoid an insurance claim. It also provides HUD
staff a mechanism for mortgagee compliance with HUD's loan servicing
procedures and assignments.
Respondents: Respondents are FHA-approved multifamily lenders
(business or other for-profit).
Estimated Number of Respondents: 114.
Estimated Number of Responses: 1,001.
Frequency of Response: 12.
Average Hours per Response: 10 minutes.
Total Estimated Burden: 167.
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.
(5) ways to minimize the burden of the collection of information on
those who are respond, including the use of automated collection
techniques or other forms of information technology.
HUD encourages interested parties to submit comments 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.
[FR Doc. 2023-07639 Filed 4-11-23; 8:45 am]
BILLING CODE 4210-67-P
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