Federal Register / Vol. 76, No. 43 / Friday, March 4, 2011 / Notices 12127 

Lundy by telephone at 202–372–1379 or 

by e-mail at Wayne.M.Lundy@uscg.mil. 

SUPPLEMENTARY INFORMATION: The 

primary matters to be considered 

include: 

—Safety provisions applicable to 

tenders operating from passenger 

ships 

—Performance standards for recovery 

systems for all types of ships 

—Guidelines for a visible element to 

general alarm systems on passenger 

ships 

—Making the provisions of MSC.1/ 

Circ.1206/Rev.1 mandatory 

—Guidelines for the standardization of 

lifeboat control arrangements 

—Development of new framework of 

requirements for life-saving 

appliances 

—Amendments to Assembly Resolution 

A.744(18) 

—Supporting guidelines for cargo oil 

tank coating and corrosion protection 

—Development of a mandatory Code for 

ships operating in polar waters 

—Revision of resolution A.760(18) 

—Protection against noise on board 

ships 

—Noise from commercial shipping and 

its adverse impacts on marine life 

—Classification of offshore industry 

vessels and consideration of the need 

for a Code for offshore construction 

support vessels 

—Consideration of IACS unified 

interpretations 

—Measures to promote integrated bilge 

water treatment systems 

—Revision of resolution MEPC.159(55) 

—Revision of testing requirements for 

lifejacket RTDs. 

Hard copies of documents associated 

with the 55th session of DE will be 

available at this meeting. To request 

further copies of documents please 

write to the address provided below. 

Members of the public may attend 

this meeting up to the seating capacity 

of the room and may submit comments. 

Those who wish to submit comments or 

seek additional information about the 

meeting may contact Mr. Wayne Lundy, 

Commandant (CG–5213), U.S. Coast 

Guard Headquarters, 2100 Second 

Street, SW., Room 1300, Washington, 

DC 20593–7126, by telephone (202) 

372–1379 or e-mail 

Wayne.M.Lundy@uscg.mil. 

Information on Services for Individuals 

With Disabilities 

For information on facilities or 

services for individuals with disabilities 

or to request special assistance at the 

meeting, contact Mr. Wayne Lundy at 

(202) 372–1379 or by e-mail at 

Wayne.M.Lundy@uscg.mil as soon as 

possible. 

Dated: March 1, 2011. 

J. G. Lantz, 

Director of Commercial Regulations and 

Standards. 

[FR Doc. 2011–4976 Filed 3–3–11; 8:45 am] 

BILLING CODE 9110–04–P 

DEPARTMENT OF HOUSING AND 

URBAN DEVELOPMENT 

[Docket No. FR–5470–N–02] 

Emergency Homeowners’ Loan 

Program: Announcement of Activation 

of Program and Availability of 

Emergency Assistance 

AGENCY: Office of the Assistant 

Secretary for Housing—Federal Housing 

Commissioner, HUD. 

ACTION: Notice. 

SUMMARY: This notice announces the 

reactivation of the Emergency 

Homeowners’ Loan Program, originally 

established by statute in 1975, and 

reauthorized, with certain 

modifications, by the Dodd-Frank Wall 

Street Reform and Consumer Protection 

Act, which also made $1 billion in 

funding available for this program. The 

Emergency Homeowners’ Loan Program 

provides emergency mortgage relief to 

homeowners who are unemployed or 

underemployed and at risk of 

foreclosure and who meet certain 

requirements of the program. This 

notice sets out the requirements and 

procedures by which emergency relief 

will be made available to eligible 

homeowners. 

DATES: Effective Date: April 4, 2011. 

FOR FURTHER INFORMATION CONTACT: 

Office of Housing Counseling, Office of 

Housing, Department of Housing and 

Urban Development, 451 7th Street, 

SW., Washington, DC 20410; telephone 

number 202–708–0317 (this is not a tollfree number). Persons with hearing or 

speech impairments may access this 

number through TTY by calling the tollfree Federal Information Relay Service 

at 800–877–8339. 

SUPPLEMENTARY INFORMATION: 

I. Activation of Emergency 

Homeowners’ Loan Program 

The Emergency Housing Act of 1975 

(12 U.S.C. 2701), signed into law on July 

2, 1975, conferred on HUD, through title 

I of the statute, entitled the ‘‘Emergency 

Homeowners’ Relief Act,’’ standby 

authority to provide emergency 

assistance, including emergency 

mortgage relief loans or advances of 

credit, and to make emergency mortgage 

assistance payments for the benefit of 

certain eligible homeowners to defray 

their mortgage expenses so as to prevent 

widespread mortgage foreclosures and 

distress sales of homes resulting from a 

homeowner’s substantial reduction in 

income resulting from temporary 

involuntary loss of employment or 

underemployment due to adverse 

economic conditions. The Dodd-Frank 

Wall Street Reform and Consumer 

Protection Act (Pub. L. 111–203, 

approved July 21, 2010) (Dodd-Frank 

Act) revised and reauthorized this 1975 

statute, and makes available $1 billion 

to HUD to implement the Emergency 

Homeowners’ Loan program during 

Fiscal Year (FY) 2011. HUD is 

reinstating the 1975 program, with such 

modifications as necessary to mirror the 

statutory changes made by the DoddFrank Act, that provide the regulatory 

framework by which emergency 

assistance may be provided to eligible 

homeowners. This notice announces the 

activation of the Emergency 

Homeowners’ Loan Program (EHLP), 

and the availability of emergency 

mortgage relief payments for eligible 

homeowners. 

II. Emergency Homeowners’ Loan 

Program Funding for FY 2011 

For FY 2011, HUD will administer 

funding under EHLP, as follows: 

A. Counseling for Homeowners 

HUD, through a network of HUDapproved housing counselors, and other 

such organizations, will provide 

homeowners with services that include 

but are not limited to: 

• Developing and disseminating 

program marketing materials; 

• Providing an overview of the 

program and eligibility requirements; 

• Conducting initial eligibility 

screening (including verifying income); 

• Counseling homeowners, including 

providing information concerning 

available employment and training 

resources; 

• Collecting and assembling 

homeowner documentation; and 

• Providing transition counseling by 

exploring with the homeowner other 

loss mitigation options, including loan 

modification, short sale, deed-in-lieu of 

foreclosure, or traditional sale of home. 

B. Intermediary to Perform Funds 

Control and Mortgage Servicing 

Functions 

Pursuant to statutory authority to 

make such delegations, HUD may 

contract with a fiscal agent to provide 

general accounting and fiscal control 

services, including collecting payments 

from homeowners, distributing 

emergency mortgage relief payments to 

servicers on a monthly basis, performing 


jlentini on DSKJ8SOYB1PROD with NOTICES
12128 Federal Register / Vol. 76, No. 43 / Friday, March 4, 2011 / Notices 

1Mortgagors and co-signers who are covered by 

this provision do not have to have signed both 

documents. If only one document is signed by an 

individual, both are covered under this provision. 

accounting, managing loan balances, 

and providing payoff information. 

C. States With Substantially Similar 

Programs 

One of the changes enacted by the 

Dodd-Frank Act was to authorize the 

Secretary to allow emergency assistance 

to be administered by states with 

existing programs that provide 

substantially similar assistance to 

homeowners. On November 12, 2010, 

HUD published a notice in the Federal 

Register (75 FR 69454) that described 

key features of HUD’s emergency 

mortgage relief payment program for 

homeowners, and which solicited 

applications from states that have 

existing programs that may be 

substantially similar to the EHLP (EHLP 

Substantially Similar Program). (See 

http://www.hud.gov/offices/hsg/sfh/hcc/ 

ehlp/ehlphome.cfm.) 

D. Emergency Mortgage Relief Payments 

To the extent that a state does not 

submit information about an existing 

program that provides substantially 

similar assistance to homeowners, or 

such submission does not meet the 

requirements outlined in HUD’s 

November 12, 2010 notice, HUD will 

administer the EHLP in that state in 

accordance with the requirements of 

Section III of this notice. 

The regulations in 24 CFR part 2700, 

as applicable to emergency mortgage 

relief payments, apply to the emergency 

mortgage relief payments made 

available through this notice, including 

use of defined terms, eligibility 

requirements for the homeowner, and 

mortgaged property, unless otherwise 

superseded by requirements of this 

notice. To minimize cross-reference to 

the regulations, some defined terms and 

regulatory requirements are repeated in 

this notice. 

III. HUD’s Emergency Mortgage Relief 

Payments Program for 2011 

A. Homeowner Eligibility 

To be eligible for emergency 

assistance under the EHLP in FY 2011, 

a homeowner must have experienced a 

substantial reduction in income due to 

involuntary but temporary 

unemployment or underemployment 

resulting from adverse economic 

conditions or medical conditions 

(referred to as the Event) and meet the 

requirements set forth in section III.A of 

this notice. Accordingly the following 

requirements determine the eligibility of 

the homeowner to receive emergency 

mortgage relief payments. 

1. Income Thresholds. The 

homeowner, whose income (annual 

adjusted gross income as ‘‘income’’ is 

defined in 24 CFR 2700.5) is combined 

with the income of all mortgagors and/ 

or co-signers on the delinquent 

mortgage and note,1 must have a total 

pre-Event income equal to, or less than, 

120 percent of the area median income 

(AMI), as determined by HUD, of the 

area in which the homeowner’s 

principal residence is located, and 

which income includes, but is not 

limited to, wage, salary, self-employed 

earnings, and other adjusted gross 

income. 

2. Substantial Income Reduction. The 

homeowner, whose income is combined 

with the income of all co-makers and/ 

or co-signers on the note secured by the 

delinquent mortgage and the other 

mortgagors on the delinquent mortgage, 

must have a current monthly income 

that is at least 15 percent lower than the 

homeowner’s pre-Event monthly 

income, with such reduction resulting 

from the homeowner’s involuntary but 

temporary unemployment or 

underemployment due to adverse 

economic conditions or medical 

conditions. 

3. Employment. With respect to 

employment, the homeowner may be a 

wage and salary worker or may be selfemployed. 

4. Delinquency and Likelihood of 

Foreclosure. The homeowner and all comakers and/or co-signers on the note 

secured by the delinquent mortgage and 

all other mortgagors on the delinquent 

mortgage must certify that 

circumstances at the time of application 

for emergency mortgage relief payments, 

including the homeowner being at least 

3 months delinquent on the delinquent 

mortgage, make it probable that the 

mortgagee will foreclose on the 

delinquent mortgage. 

5. Ability to Resume Repayment. The 

homeowner must have a reasonable 

likelihood of being able to resume 

repayment of the delinquent mortgage 

obligations, and meet other housing 

expenses and debt obligations when the 

homeowner regains full employment, as 

determined by: 

a. The homeowner’s income, 

combined with all mortgagors and/or 

co-signers on the delinquent mortgage 

and note, must have a back-end ratio or 

debt-to-income (DTI) below 55 percent 

(principal, interest, taxes, insurance, 

and revolving and fixed installment 

debt divided by total monthly income). 

For this calculation, homeowner’s 

combined income will be measured at 

the pre-Event level. 

b. Homeowners with second mortgage 

debt or an equity line of credit (ELOC) 

are not disqualified from receiving 

emergency mortgage relief payments. 

Applicants with second mortgage 

payments or ELOC payments whose DTI 

ratio is within the program’s 55 percent 

limit may still qualify for emergency 

mortgage relief payments based on all 

other program eligibility criteria. 

6. Principal Residence. The 

homeowner must occupy the mortgaged 

property as the homeowner’s principal 

residence. The mortgaged property must 

also be a single-family residence (1-to 4- 

unit structure, or condominium, 

cooperative, or manufactured home). 

B. Terms and Conditions of Emergency 

Mortgage Relief Payments 

1. Declining Balance Loans. The 

repayment mechanism for the 

emergency mortgage relief payments 

made on behalf of the homeowner to the 

mortgagee shall be a declining balance, 

deferred payment, non-recourse, 

subordinate loan with zero interest. The 

declining balance loan will cover 

emergency mortgage relief payments 

provided for arrearages, including 

delinquent taxes and insurance, in 

accordance with section III.B.2., and up 

to 24 months of monthly payments on 

the homeowner’s delinquent mortgage 

to include principal, interest, insurance, 

taxes, and hazard insurance, in 

accordance with section III.B.3. 

2. Use of Funds for Arrearages. 

Emergency mortgage relief payments 

shall be used to pay 100 percent of the 

eligible homeowner’s delinquent 

mortgage arrearages (such as mortgage 

insurance, principal, interest, insurance, 

taxes, hazard insurance, and ground 

rent, homeowners’ assessment fees, late 

fees, condominium fees, and certain 

foreclosure-related legal fees and late 

payments, if any) on the homeowner’s 

delinquent mortgage. 

3. Homeowner Contribution 

Payments. The homeowner contribution 

to the delinquent mortgage monthly 

mortgage payment shall be set at 31 

percent of the sum of the eligible 

homeowner’s monthly income at the 

time of EHLP application and the 

monthly income of all other mortgagors 

and co-signers (if applicable) of the 

delinquent mortgage and note at the 

time of EHLP application, but in no 

instance will the homeowner 

contribution to the monthly mortgage 

payment be less than $25 per month. 

4. Use of Funds for Continuing 

Mortgage Assistance. Monthly 

emergency mortgage relief payments on 

the delinquent mortgage shall be made 

to the mortgagee or servicing institution 


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Federal Register / Vol. 76, No. 43 / Friday, March 4, 2011 / Notices 12129 

in combination with the homeowner 

contribution payments. 

5. Duration of Emergency Mortgage 

Relief Payments. If at any time the 

homeowner’s monthly income, 

including all other co-makers and cosigners of the note secured by the 

delinquent mortgage and other 

mortgagors on the delinquent mortgage, 

increases to greater than 85 percent or 

more of its pre-Event income level, 

emergency mortgage relief payments 

will be phased out over a 2-month 

period. In any event, the aggregate 

amount of emergency mortgage relief 

payments provided to any homeowner 

shall not exceed the earlier in 

occurrence of: (i) The receipt of $50,000, 

or (ii) 23 months beyond the date of the 

first payment (this period includes the 

first emergency mortgage relief 

payment, which is inclusive of the first 

monthly emergency mortgage relief 

payment, and the payment of 

arrearages). 

C. Repayment Terms 

1. Transition Counseling. A housing 

counseling affiliate shall contact each 

homeowner who is approaching the last 

months of EHLP participation and who 

remains unemployed or underemployed 

(approximately 3 to 5 months before the 

emergency mortgage relief payments 

end) and require the homeowner to 

meet with a HUD-approved counseling 

agent to explore alternative available 

options, such as loss mitigation, loan 

modification, short sale, deed-in-lieu of 

foreclosure, or traditional sale of home. 

2. Repayment of Emergency Mortgage 

Assistance Payment. As a condition of 

the homeowner’s approval for 

participation in the EHLP, the 

homeowner shall execute an EHLP Note 

and EHLP Mortgage in the amount of 

EHLP funds, which may not exceed 

$50,000. The EHLP Mortgage shall be 

secured by the mortgaged property in 

either second- or third-lien position (as 

applicable depending on the existence 

of a second-lien mortgage). The EHLP 

Note shall be in the form of a 5-year 

deferred declining balance, zero 

interest, nonrecourse note with a term of 

up to 7 years. 

3. Terms for Declining Balance 

Feature. No payment is due on the 

EHLP Note during the term of the EHLP 

Note, so long as the homeowner remains 

current on the homeowner contribution 

payment while receiving emergency 

mortgage relief payments and on the 

homeowner’s full monthly payments on 

the delinquent mortgage once the 

homeowner is no longer receiving 

emergency mortgage relief payments. If 

the homeowner meets this requirement, 

the balance due on the principal balance 

of the EHLP Note shall decline by 20 

percent of the original principal 

amount, annually, until the balance 

owed on the EHLP Note is extinguished. 

4. Ongoing Qualification of 

Homeowner. After initial income 

verification at intake, the homeowner 

shall be required to notify the housing 

counseling agency of any changes in the 

homeowner’s income and/or 

employment status during the entire 

period in which emergency mortgage 

relief payments are provided. 

5. Termination of Emergency 

Mortgage Relief Payments. Emergency 

mortgage relief payments will terminate 

and the homeowner will resume full 

responsibility for meeting the monthly 

payments on the delinquent mortgage in 

the event of the occurrence of one or 

more of the following circumstances: 

a. The homeowner has received 24 

months of emergency mortgage relief 

payments or assistance in the amount of 

$50,000, whichever occurs first; 

b. The homeowner fails to report 

changes in employment status or 

income within 15 days of the change; 

c. The homeowner’s monthly income, 

combined with that of all mortgagors 

and/or co-signers on the delinquent 

mortgage and note, increases to greater 

than 85 percent or more of its pre-Event 

income level; 

d. The homeowner sells the 

mortgaged property or refinances the 

mortgaged property for cash-out; 

e. The homeowner defaults on the 

homeowner contribution payments; or 

f. The homeowner defaults on the 

delinquent mortgage. 

6. Events Triggering EHLP Note 

Repayment. The homeowner will be 

responsible for repayment of the 

outstanding balance of the EHLP Note, 

if, at any time during the term of the 

EHLP Note, one or more of the following 

events occur: 

a. The homeowner defaults on the 

homeowner contribution payments 

while receiving emergency mortgage 

relief payments or on the full monthly 

payment owed on the delinquent 

mortgage once the homeowner is no 

longer receiving emergency mortgage 

relief payments; or 

b. The homeowner sells the 

mortgaged property, resulting in net 

proceeds to the homeowner, and 

satisfies the outstanding balance on the 

EHLP Note or the homeowner 

refinances the mortgaged property and 

satisfies the outstanding balance on the 

EHLP Note. Net proceeds from sale of 

the mortgaged property shall be an 

amount equivalent to the contract sales 

price of the mortgaged property less 

applicable brokers fees, payoff of firstand (if applicable) second- and thirdlien mortgage balances, and an 

allowance of $2,000 to the homeowner 

for relocation expenses. Net proceeds 

shall go towards satisfying the EHLP 

Note. In the event that net proceeds are 

not sufficient to satisfy the outstanding 

balance of the EHLP Note, any 

outstanding balance in excess of net 

proceeds shall be written off by HUD 

and net proceeds shall be sufficient to 

fully satisfy the EHLP Note and the 

EHLP Mortgage against the mortgaged 

property shall be released. 

In the event of a cash-out refinance of 

the homeowner’s delinquent mortgage 

(and/or second mortgage, as applicable), 

the outstanding balance of the EHLP 

Note shall be repaid from remaining 

cash-out proceeds available after the 

homeowner’s delinquent mortgage (and/ 

or second mortgage, as applicable) has 

been paid off, including the payment of 

all applicable closing costs, and the 

EHLP Mortgage against the property 

shall be released. 

In the event remaining cash-out 

proceeds from a cash-out mortgage 

refinance are not sufficient to satisfy the 

outstanding balance of the homeowner’s 

EHLP Note, any outstanding balance in 

excess of net proceeds shall be written 

off by HUD and the remaining cash-out 

proceeds shall be sufficient to fully 

satisfy the EHLP Note and the EHLP 

Mortgage against the mortgaged 

property shall be released. 

7. Administration of Emergency 

Homeowners’ Loans. HUD will work 

with its fiscal agent in the states that 

have been allocated funding for the 

EHLP, but are not a part of the EHLP 

Substantially Similar Program, to make 

emergency mortgage relief payments to 

eligible homeowners under this notice 

and the regulations in 24 CFR part 2700. 

Dated: February 28, 2011. 

David H. Stevens, 

Assistant Secretary for Housing—Federal 

Housing Commissioner. 

[FR Doc. 2011–4817 Filed 3–3–11; 8:45 am] 

BILLING CODE 4210–67–P 

DEPARTMENT OF THE INTERIOR 

Fish and Wildlife Service 

[FWS–R5–FHC–2011–N034; 53330–1335– 

0000–J3] 

Lake Champlain Sea Lamprey Control 

Alternatives Workgroup 

AGENCY: Fish and Wildlife Service, 

Interior. 

ACTION: Notice of meeting. 

SUMMARY: We, the U.S. Fish and 

Wildlife Service (Service), announce a 


jlentini on DSKJ8SOYB1PROD with NOTICES