Federal Register / Vol. 76, No. 76 / Wednesday, April 20, 2011 / Notices 22119 

Total Estimated Burden Hours: 1,425. 

Status: Reinstatement with change of 

a previously approved collection. 

Authority: Section 3507 of the 

Paperwork Reduction Act of 1995, 44 

U.S.C. 35, as amended. 

Dated: April 13, 2011. 

Colette Pollard, 

Departmental Reports Management Officer, 

Office of the Chief Information Officer. 

[FR Doc. 2011–9508 Filed 4–19–11; 8:45 am] 

BILLING CODE 4210–67–P 

DEPARTMENT OF HOUSING AND 

URBAN DEVELOPMENT 

[Docket No. FR–5486–N–10] 

Notice of Proposed Information 

Collection for Public Comment: Notice 

of Funding Availability for the 

Transformation Initiative: Choice 

Neighborhoods Research Grant 

Program 

AGENCY: Office of the Assistant 

Secretary for Policy Development and 

Research, HUD. 

ACTION: Notice. 

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: Comment Due Date: June 20, 

2011. 

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 

electronically to Paul.A.Joice@hud.gov 

or in hard copy to: Paul Joice, Office of 

Policy Development and Research, 

Department of Housing and Urban 

Development, 451 7th Street, SW., 

Room 8120, Washington, DC 20410– 

6000. Please use ‘‘Choice Neighborhoods 

PRA Comment’’ in the subject line of 

any e-mail. 

FOR FURTHER INFORMATION CONTACT: Paul 

Joice at 202–402–4608 (this is not a tollfree number) or Paul.A.Joice@hud.gov, 

for copies of the proposed forms and 

other available documents. Please use 

‘‘Choice Neighborhoods PRA Comment’’ 

in the subject line of any email. 

SUPPLEMENTARY INFORMATION: The 

Department of Housing and Urban 

Development will submit the proposed 

extension of 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 through 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: Notice of Funding 

Availability for the Transformation 

Initiative: Choice Neighborhoods 

Research Grant Program. 

OMB Control Number: N/A. 

Description of the Need for the 

Information and Proposed Use: The 

information is being collected to select 

applicants for award in a competitive 

grant program and to monitor 

performance of grantees to ensure they 

meet the goals and requirements of the 

grant program. 

Agency Form Numbers: SF–424, SF– 

424 Supplemental, HUD–424–CB, SF– 

LLL, HUD–2880, HUD–2993, HUD– 

96010 and HUD–96011. 

Members of the Affected Public: 

Eligible applicants include nationally 

recognized and accredited institutions 

of higher education, non-profit 

foundations, think tanks, research 

consortia or policy institutes, and forprofit organizations located in the U.S. 

Estimation of the total number of hours 

needed to prepare the information 

collection including number of 

respondents, frequency of response, and 

hours of response: Information pursuant 

to grant award will be submitted once 

a year. The following chart details the 

respondent burden on a quarterly and 

annual basis: 

Number of 

respondents 

Total annual 

responses 

Hours per 

response Total hours 

Applicants ........................................................................................ 20 20 40 800 

Quarterly Reports ............................................................................ 5 20 6 120 

Final Reports ................................................................................... 5 5 6 30 

Recordkeeping ................................................................................. 5 5 4 20 

Total .......................................................................................... 35 50 56 970 

Status of the proposed information 

collection: Pending OMB approval. 

Authority: Section 3506 of the Paperwork 

Reduction Act of 1995, 44 U.S.C. Chapter 35, 

as amended. 

Dated: April 13, 2011. 

Raphael W. Bostic, 

Assistant Secretary for Policy Development 

and Research. 

[FR Doc. 2011–9507 Filed 4–19–11; 8:45 am] 

BILLING CODE 4210–67–P 

DEPARTMENT OF HOUSING AND 

URBAN DEVELOPMENT 

[Docket No. FR–5511–N–02] 

Credit Watch Termination Initiative; 

Termination of Direct Endorsement 

(DE) Approval 

AGENCY: Office of the Assistant 

Secretary for Housing-Federal Housing 

Commissioner, HUD. 

ACTION: Notice. 

SUMMARY: This notice advises of the 

cause and effect of termination of Direct 

Endorsement (DE) Approval taken by 

HUD’s Federal Housing Administration 

(FHA) against HUD-approved 

mortgagees through the FHA Credit 

Watch Termination Initiative. This 

notice includes a list of mortgagees 

which have had their DE Approval 

terminated. 

FOR FURTHER INFORMATION CONTACT: The 

Quality Assurance Division, Office of 

Housing, Department of Housing and 

Urban Development, 451 Seventh Street, 

SW., Room B133–P3214, Washington, 

DC 20410–8000; telephone (202) 708– 


srobinson on DSKHWCL6B1PROD with NOTICES
22120 Federal Register / Vol. 76, No. 76 / Wednesday, April 20, 2011 / Notices 

2830 (this is not a toll-free number). 

Persons with hearing or speech 

impairments may access that number 

through TTY by calling the Federal 

Information Relay Service at (800) 877– 

8339. 

SUPPLEMENTARY INFORMATION: HUD has 

the authority to address deficiencies in 

the performance of lenders’ loans as 

provided in HUD’s mortgagee approval 

regulations at 24 CFR § 202.3. On May 

17, 1999 HUD published a notice (64 FR 

26769), on its procedures for 

terminating Origination Approval 

Agreements with FHA lenders and 

placement of FHA lenders on Credit 

Watch status (an evaluation period). In 

the May 17, 1999 notice, HUD advised 

that it would publish in the Federal 

Register a list of mortgagees, which 

have had their Approval Agreements 

terminated. On January 21, 2010 HUD 

issued Mortgagee Letter 2010–03 which 

advised the extended procedures for 

terminating Underwriting Authority of 

Direct Endorsement mortgagees. 

Termination of Direct Endorsement 

Approval: Approval of a DE mortgagee 

by HUD/FHA authorizes the mortgagee 

to underwrite single family mortgage 

loans and submit them to FHA for 

insurance endorsement. The Approval 

may be terminated on the basis of poor 

performance of FHA-insured mortgage 

loans underwritten by the mortgagee. 

The termination of a mortgagee’s DE 

Approval is separate and apart from any 

action taken by HUD’s Mortgagee 

Review Board under HUD’s regulations 

at 24 CFR part 25. 

Cause: HUD’s regulations permit HUD 

to terminate the DE Approval with any 

mortgagee having a default and claim 

rate for loans endorsed within the 

preceding 24 months that exceeds 250 

percent of the default and claim rate 

within the geographic area served by a 

HUD field office, and also exceeds the 

national default and claim rate. For the 

quarterly review period ending 

September 30, 2010, HUD is terminating 

the DE Approval of mortgagees whose 

default and claim rate exceeds both the 

national rate and 250 percent of the 

field office rate. 

Effect: Termination of the DE 

Approval precludes the mortgagee from 

underwriting FHA-insured single-family 

mortgages within the area of the HUD 

field office(s) listed in this notice. 

Mortgagees authorized to purchase, 

hold, or service FHA-insured mortgages 

may continue to do so. 

Loans that closed or were approved 

before the Termination became effective 

may be submitted for insurance 

endorsement. Approved loans are those 

already underwritten and approved by a 

DE underwriter, and cases covered by a 

firm commitment issued by HUD. Cases 

at earlier stages of processing cannot be 

submitted for insurance by the 

terminated mortgagee; however, the 

cases may be transferred for completion 

of processing and underwriting to 

another mortgagee with DE Approval in 

that area. Mortgagees are obligated to 

continue to pay existing insurance 

premiums and meet all other obligations 

associated with insured mortgages. 

A terminated mortgagee may apply for 

reinstatement of the DE Approval if the 

DE Approval for the affected area or 

areas has been terminated for at least six 

months and the mortgagee continues to 

be an approved mortgagee meeting the 

requirements of 24 CFR 202.5, 202.6, 

202.7, 202.10 and 202.12. The 

mortgagee’s application for 

reinstatement must be in a format 

prescribed by the Secretary and signed 

by the mortgagee. In addition, the 

application must be accompanied by an 

independent analysis of the terminated 

office’s operations as well as its 

mortgage production, specifically 

including the FHA-insured mortgages 

cited in its termination notice. This 

independent analysis shall identify the 

underlying cause for the mortgagee’s 

high default and claim rate. The 

analysis must be prepared by an 

independent Certified Public 

Accountant (CPA) qualified to perform 

audits under Government Auditing 

Standards as provided by the 

Government Accountability Office. The 

mortgagee must also submit a written 

corrective action plan to address each of 

the issues identified in the CPA’s report, 

along with evidence that the plan has 

been implemented. The application for 

a new Agreement should be in the form 

of a letter, accompanied by the CPA’s 

report and corrective action plan. The 

request should be sent to the Director, 

Office of Lender Activities and Program 

Compliance, 451 Seventh Street, SW., 

Room B133–P3214, Washington, DC 

20410–8000 or by courier to 490 

L’Enfant Plaza, East, SW., Suite 3214, 

Washington, DC 20024–8000. 

Action: The following mortgagees 

have had their DE Approvals terminated 

by HUD: 

Mortgagee name Mortgagee home office address HUD office jurisdictions Termination 

effective date 

Homeownership centers 

Allied Home Mortgage Corp .......... 6100 Pinemont Dr., Ste 220, 

Houston, TX 77092.

Cleveland ....................................... 1/18/11 Philadelphia. 

Mountain States Mortgage Center 1333 E. 9400 S., Sandy, UT 

84093.

Indianapolis .................................... 2/28/11 Atlanta. 

Mountain States Mortgage Center 1333 E. 9400 S., Sandy, UT 

84093.

Salt Lake City ................................. 2/28/11 Denver. 

Nationwide Home Loans, Inc ......... 4100 NE 2nd Ave., Miami, FL 

33137.

Miami .............................................. 1/18/11 Atlanta. 

US Mortgage Finance Corp ........... 225 International Cir., Ste 102, 

Cockeysville, MD 21030.

Washington DC .............................. 1/18/11 Philadelphia. 

Dated: April 13, 2011. 

Robert C. Ryan, 

Acting Assistant Secretary for HousingFederal Housing Commissioner. 

[FR Doc. 2011–9502 Filed 4–19–11; 8:45 am] 

BILLING CODE 4210–67–P 

DEPARTMENT OF HOUSING AND 

URBAN DEVELOPMENT 

[Docket No. FR- 5511–N–01] 

Credit Watch Termination Initiative; 

Termination of Origination Approval 

Agreements 

AGENCY: Office of the Assistant 

Secretary for Housing—Federal Housing 

Commissioner, HUD. 

ACTION: Notice. 

SUMMARY: This notice advises of the 

cause and effect of termination of 

Origination Approval Agreements taken 

by HUD’s Federal Housing 

Administration (FHA) against HUDapproved mortgagees through the FHA 

Credit Watch Termination Initiative. 

This notice includes a list of mortgagees 

which have had their Origination 

Approval Agreements terminated. 


srobinson on DSKHWCL6B1PROD with NOTICES