[Federal Register Volume 76, Number 231 (Thursday, December 1, 2011)]
[Notices]
[Page 74804]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2011-30890]


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DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT

[Docket No. FR-5410-N-02]


Federal Housing Administration (FHA) First Look Sales Method 
Under the Neighborhood Stabilization Programs (NSP) Technical 
Assistance: Availability of Universal Name and Address Identification 
Number (NAID)

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

ACTION: Notice.

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SUMMARY: On July 15, 2010, HUD published a Federal Register notice 
establishing the process by which eligible purchasers under the 
Neighborhood Stabilization Program (NSP) are provided a preference to 
acquire real estate-owned (REO) properties of FHA under the temporary 
First Look Sales Method. The July 15, 2010, notice requires that 
eligible NSP purchasers obtain a HUD-issued Name and Address 
Identification Number (NAID) to participate in the First Look Sales 
Method. This notice announces the availability of a universal NAID to 
aid eligible purchasers under the First Look Sales method.

DATES: The dates announced in the July 15, 2010, notice are unchanged. 
The FHA First Look Sales Method shall be in effect through May 31, 
2013.

FOR FURTHER INFORMATION CONTACT: Ivery Himes, Director, Office of 
Single Family Asset Management, Office of Housing, Department of 
Housing and Urban Development, 451 7th Street SW., Room 9172, 
Washington, DC 20410; telephone number (202) 708-1672 (this is not a 
toll-free number). Persons with hearing or speech impairments may 
access this number via TTY by calling the toll-free Federal Relay 
Service at (800) 877-8339.

SUPPLEMENTARY INFORMATION: On July 15, 2010, at 75 FR 41255, HUD 
published a Federal Register notice establishing the process by which 
governmental entities, nonprofit organizations, and subrecipients 
participating in the NSP (eligible NSP purchasers) are provided a 
preference to acquire REO properties under FHA's temporary NSP First 
Look Sales Method. This temporary REO sales method furthers the goals 
of both NSP, to aid in the redevelopment of abandoned and foreclosed 
homes, and of HUD's REO sales program, to expand homeownership 
opportunities and strengthen communities. Through the FHA First Look 
Sales Method, HUD provides eligible NSP purchasers with a preference (a 
``first look'') to acquire FHA REO properties that are available for 
purchase within NSP areas. Eligible NSP purchasers may acquire such REO 
properties with the assistance of NSP funds for any eligible uses under 
the NSP, including rental or homeownership.
    The July 15, 2010, notice provides that governmental entities, 
nonprofit organizations, and subrecipients that have received a HUD-
issued NAID are eligible to participate in the First Look Sales Method 
(see 75 FR 41226, first column). Through this notice, HUD announces 
that it has issued a universal NAID to the National Community 
Stabilization Trust (NCST). The NCST has entered into a partnership 
agreement with HUD to facilitate implementation of the First Look Sales 
Method. The NCST will use the universal NAID to aid eligible NSP 
purchasers in the purchase of properties under First Look Sales Method. 
Eligible NSP purchasers will not be charged a fee for use of the 
universal NAID. Additional information regarding the NCST and its role 
in implementing the First Look Sales Method can be found on the NCST 
Web site at: http://www.stabilizationtrust.com/

    Dated: November 23, 2011.
Carol J. Galante,
Acting Assistant Secretary for Housing--Federal Housing Commissioner.
[FR Doc. 2011-30890 Filed 11-30-11; 8:45 am]
BILLING CODE 4210-67-P