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HUD INVITES COMMENT ON MULTIFAMILY DEFAULT STATUS REPORT

Thursday, December 3, 2009 - 2:00AM

The U.S. Department of Housing and Urban Development (HUD) today invited public comment on HUD-92426, Multifamily Default Status Report. Mortgagees use this information collection to notify HUD that a project owner is more than 30 days past due on a mortgage payment and to elect to assign a mortgage to HUD. To avoid an assignment of mortgage to HUD, HUD and the mortgagor may develop a plan for reinstating the loan. HUD Field Office and headquarters staff use the data to monitor mortgagee compliance with HUD's loan servicing procedures and assignments; and to avoid mortgage assignments in the future. No changes to the form have been proposed; the invitation to comment was published as required by the Paperwork Reduction Act of 1995.

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