Proposed Information Collection: Comment Request; Multifamily Insurance Benefits Claim Package

DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT

[Docket No. FR-4445-N-19]

Proposed Information Collection: Comment Request; Multifamily

Insurance Benefits Claim Package

AGENCY: Office of the Assistant Secretary for Housing, HUD.

ACTION: Notice.

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SUMMARY: The proposed information collection requirement described

below will be submitted to the Office of Management and Budget (OMB)

for review, as required by the Paperwork Reduction Act. The Department

is soliciting public comments on the subject proposal.

DATES: Comments Due Date: September 21, 1999.

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: Wayne Eddins, Reports Management

Officer, Department of Housing and Urban Development, 451 7th Street,

SW, Room 4176, Washington, DC 20410.

FOR FURTHER INFORMATION CONTACT: Betty A. Belin, Systems Accountant,

Office of Financial Services, Department of Housing and Urban

Development, 451 7th Street SW, Washington, DC 20410, telephone (202)

401-2168 (this is not a toll free number) for copies of the proposed

forms and other available information.

SUPPLEMENTARY INFORMATION: The Department is submitting the proposed

information collection to OMB for review, as required by the Paperwork

Reduction Act of 1995 (44 U.S.C. Chapter 35, as amended).

This Notice is soliciting comments from members of the public and

affected agencies concerning the proposed collection of information to:

(1) Evaluate 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)

Evaluate the accuracy of the agency's estimate of the burden of the

proposed collection of information; (3) Enhance the quality, utility,

and clarity of the information to be collected; and (4) Minimize the

burden of the collection of information on those who are to respond;

including the use of appropriate automated collection techniques or

other forms of information technology, e.g., permitting electronic

submission of responses.

This Notice also lists the following information:

Title of Proposal: Multifamily Insurance Benefits Claim Package.

OMB Control Number, if applicable: 2502-0415.

Description of he need for the information and proposed use: The

Claim package requests from mortgagees the necessary fiscal data

required for HUD to determine insurance owed to mortgagees that filed

an insurance claim. When terms of a Multifamily contract are breached

or when a mortgage meets conditions stated within the Multifamily

contract for an automated assignment, the holder of the mortgage may

file for insurance benefits. The law which supports this action is

Statute 12 USC 1713(g) and Title II, Section 207(g) of the National

Housing Act. This Act provides in the part ``. . . the mortgagee shall

be entitled to receive the benefits of the insurance as hereinafter

provided, upon assignment, transfer, and delivery to the Secretary,

within a period and in accordance with rules and regulations to be

prescribed by the Secretary of (1) all rights and interest arising

under the mortgage so in default; (2) all claims of the mortgagee

against the mortgagor or others, arising under the mortgage

transaction; (3) all policies of title or other insurance or surety

bonds or guaranties and any or all claims thereunder; (4) any balance

of the mortgage loan not advanced to the mortgagor; (5) any cash or

property held by the mortgagee, or to which it is entitled, as deposits

made for account of the mortgagor and which have been applied in

reduction of the principal of the mortgage indebtedness; and (6) all

records, documents, books, papers and accounts relating to the mortgage

transaction.'' These provisions are further spelled out in CFR 24 Part

207--Subpart B--Contract Rights and Obligations. To receive these

benefits, the mortgagee must prepare and submit to HUD the Multifamily

Insurance Benefits Claim Package.

Agency form numbers, if applicable: HUD-2742, 2744A, 2744B, 2744C,

2744D, and 2744E.

Estimation of the total numbers of hours needed to prepare the

information collection including number of respondents, frequency of

response, and hours of response: The estimated number of respondents is

118, frequency of responses is one per claim submission, and the total

annual burden hours requested are 411.

Status of the proposed information collection: Extension of a

currently approved collection.

Authority: The Paperwork Reduction Act of 1995, 44 U.S.C.

Chapter 35, as amended.

Dated: July 20, 1999.

William C. Apgar,

Assistant Secretary for Housing-Federal Housing Commissioner.

[FR Doc. 99-18879 Filed 7-22-99; 8:45 am]

BILLING CODE 4210-27-M