Notice2023-27046
60-Day Notice of Proposed Information Collection: Electronic Closing and Continued First Lien Priority Certificates for FHA-Insured Commercial Mortgage Transactions; OMB Control No.: 2502-0618
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
December 11, 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 60 days of public comment.
Full Text
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<title>Federal Register, Volume 88 Issue 236 (Monday, December 11, 2023)</title>
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[Federal Register Volume 88, Number 236 (Monday, December 11, 2023)]
[Notices]
[Pages 85904-85905]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2023-27046]
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DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT
[Docket No. FR-7071-N-14]
60-Day Notice of Proposed Information Collection: Electronic
Closing and Continued First Lien Priority Certificates for FHA-Insured
Commercial Mortgage Transactions; OMB Control No.: 2502-0618
AGENCY: Office of the Assistant Secretary for Housing--Federal Housing
Commissioner, 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: February 9, 2024.
ADDRESSES: Interested persons are invited to submit comments regarding
this proposal. Written comments and recommendations for the proposed
information collection can be submitted within 60 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 60-day
Review--Open for Public Comments'' or by using the search function.
Interested persons are also invited to submit comments regarding this
proposal by name and/or OMB Control Number and can be sent to: Colette
Pollard, Reports Management Officer, REE, Department of Housing and
Urban Development, 451 7th Street SW, Room 8210, Washington, DC 20410-
5000 or email at <a href="/cdn-cgi/l/email-protection#491928392c3b3e263b221b2c2d3c2a3d202627082a3d062f2f202a2c09213c2d672e263f"><span class="__cf_email__" data-cfemail="4d1d2c3d283f3a223f261f2829382e392422230c2e39022b2b242e280d253829632a223b">[email protected]</span></a>.
FOR FURTHER INFORMATION CONTACT: Colette Pollard, Reports Management
Officer, REE, Department of Housing and Urban Development, 451 7th
Street SW, Washington, DC 20410; email <a href="/cdn-cgi/l/email-protection#d390bcbfb6a7a7b6fd83bcbfbfb2a1b793bba6b7fdb4bca5"><span class="__cf_email__" data-cfemail="60230f0c051414054e300f0c0c011204200815044e070f16">[email protected]</span></a> ;
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 and 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 has
submitted to OMB a request for approval of the information collection
described in Section A.
A. Overview of Information Collection
Title of Information Collection: Electronic Closing and Continued
First Lien Priority Certificates for FHA-Insured Commercial Mortgage
Transactions.
OMB Approval Number: 2502-0618.
OMB Expiration Date: 03/31/2024.
Type of Request: Revision of currently approved collection.
Form Numbers: HUD-5985L, HUD-5985B, and HUD-5985IRR.
Description of the need for the information and proposed use:
[[Page 85905]]
HUD is adding to the collection two (2) documents (HUD-5985L and
HUD-5985B) that will be used to facilitate uniform electronic closings
of FHA-insured commercial mortgage closings, allow for the use of
digital signatures and digital records where they are consistent with
program obligations, and determine the parties' compliance with
applicable legal requirements and therefore ensure protection of the
FHA insurance fund; and one (1) document (HUD-5985IRR) that will be
used by the FHA Lender to certify to HUD certain conditions required as
part of a request to reduce the interest rate of an existing FHA-
insured commercial mortgage (often due to market fluctuations that
lower the interest rate and save the project money by making this
reduction). In addition, the name of this collection is being changed
from COVID19 HUD Contingency Plan for HUD Multifamily Rental Project
Closing Documents to Electronic Closing and Continued First Lien
Priority Certificates for FHA-Insured Commercial Mortgage Transactions.
Respondents: Business or other for-profit, Not-for-profit
institutions, State, Local or Tribal Government.
Estimated Number of Respondents: 3,094.
Estimated Number of Responses: 3,217.
Frequency of Response: 1.033 per annum.
Average Hours per Response: 0.833 hour.
Total Estimated Burden: 2,900.
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
Jeffrey D. Little,
General Deputy Assistant Secretary, Office of Housing.
[FR Doc. 2023-27046 Filed 12-8-23; 8:45 am]
BILLING CODE 4210-67-P
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