[Federal Register Volume 66, Number 105 (Thursday, May 31, 2001)]
[Notices]
[Pages 29583-29584]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 01-13576]


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DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT

[Docket No. FR-4655-N-15]


Notice of Proposed Information Collection: Comment Request; 
Review of Health Care Facility Portfolios

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: July 30, 2001.

[[Page 29584]]


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, L'Enfant Building, Room, 8202, Washington, DC 20410.

FOR FURTHER INFORMATION CONTACT: Eric Stevenson, Office of Multifamily 
Development, U.S. Department of Housing and Urban Development, 451 7th 
Street, SW, Washington, DC 20410, telephone number (202) 708-3000, 
extension 2544 (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 1955 (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 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: Review of Health Care Facility Portfolios.
    OMB Control Number, if Applicable: 2502-0545.
    Description of the Need for the Information and Proposed Use: An 
owner and/or an operator of health care facilities (nursing homes, 
intermediate care facilities, board and care facilities, or assisted 
living facilities) may wish to finance or refinance large groups of 
those facilities. If it intends to seek FHA mortgage insurance for 
loans for these facilities, and it is planning to finance or refinance 
a minimum of 11 health care facilities, with combined estimated 
mortgage amount of $75 million or more, during an 18 month period, then 
the owner/operator must furnish information that has not been 
previously required with the application for mortgage insurance. The 
owner and/or operator will be acting with an FHA-approved lender, or, 
if the application is to be processed with Multifamily Accelerated 
Processing (MAP), the lender must be MAP-approved.
    The information includes a Corporate Credit Analysis, to be 
submitted to a credit rating agency (Standard & Poor's, Moody's 
Investor Services, Fitch IBCA, Duff & Phelps). The Corporate Credit 
Analysis includes detailed financial information, management policies, 
and corporate strategy. Owners/operators with 50 or more projects, with 
estimated combined mortgage amount of $250 million or more must file, 
in addition to the Corporate Credit Analysis, more detailed information 
than is required for non-portfolio owners in connection with the site 
visit. These large-size owners/operators must also provide information 
on their other properties and lines of business not being financed.
    The information is collected and evaluated, first by a rating 
agency and then by HUD. The purpose is to determine the financial 
strength and management reliability of the owner/operator. If the owner 
and/or the operator should go into bankruptcy or be unable to continue 
management of its large group of properties to keep operating 
successfully would be severely jeopardized. The failure of the owner/
operator could lead to assignments to HUD of large numbers of health 
care facilities, and serious resulting charges to the mortgage 
insurance fund.
    Agency Form Numbers, if Applicable: None.
    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 
15, the frequency of responses is one per respondent, estimated time to 
finish each response is approximately 80 hours, and the total annual 
burden hours requested is 1200.
    Status of the Proposed Information Collection: Extension of 
currently approved collection.

    Authority: The Paperwork Reduction Act of 1995, 44 U.S.C., 
Chapter 35, as amended.

    Dated: May 21, 2001.
Sean G. Cassidy,
General Deputy, Assistant Secretary for Housing-Deputy Federal Housing 
Commissioner.
[FR Doc. 01-13576 Filed 5-30-01; 8:45 am]
BILLING CODE 4210-27-M