Notice2024-01761
30-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
January 30, 2024
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 89 Issue 20 (Tuesday, January 30, 2024)</title>
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[Federal Register Volume 89, Number 20 (Tuesday, January 30, 2024)]
[Notices]
[Pages 5929-5930]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2024-01761]
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DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT
[Docket No. FR-7080-N-06]
30-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 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: February 29, 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 <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. Interested
persons are also invited to submit comments regarding this proposal and
comments should refer to the proposal by name and/or OMB Control Number
and should be sent to: Colette Pollard, Clearance Officer, REE,
Department of Housing and Urban Development, 451 7th Street SW, Room
8210, Washington, DC 20410-5000; email
<a href="/cdn-cgi/l/email-protection#7626170613040119041d2413120315021f19183715023910101f1513361e031258111900"><span class="__cf_email__" data-cfemail="5c0c3d2c392e2b332e370e3938293f283533321d3f28133a3a353f391c342938723b332a">[email protected]</span></a>.
FOR FURTHER INFORMATION CONTACT: Colette Pollard, Reports Management
Officer, REE, Department of Housing
[[Page 5930]]
and Urban Development, 451 7th Street SW, Washington, DC 20410; email
<a href="/cdn-cgi/l/email-protection#3e7d51525b4a4a5b106e5152525f4c5a7e564b5a10595148"><span class="__cf_email__" data-cfemail="90d3fffcf5e4e4f5bec0fffcfcf1e2f4d0f8e5f4bef7ffe6">[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 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
December 11, 2023 at 88 FR 85904.
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: 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;
(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; and
(5) Ways to minimize the burden of the collection of information on
those who are to respond, including the use of automated collection
techniques or other forms of information technology.
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.
[FR Doc. 2024-01761 Filed 1-29-24; 8:45 am]
BILLING CODE 4210-67-P
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