Form Hud-2537 - Mortgagee'S Application For Partial Settlement - Multifamily Mortgage - Office Of Housing Federal Housing Commissioner - U.s. Department Of Housing And Urban Development

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OMB Approval No. 2502- 0427
U.S. Department of Housing
Mortgagee's Application for
(exp. 12/31/2010)
and Urban Development
Partial Settlement
Office of Housing
Federal Housing Commissioner
Multifamily Mortgage
Public reporting burden for this collection of information is estimated to average 15 minutes per response, including the time for reviewing instructions,
searching existing data sources, gathering and maintaining the data needed, and completing and reviewing the collection of information. This agency
may not collect this information, and you are not required to complete this form, unless it displays a currently valid OMB control number.
This information is collected to obtain required fiscal data for HUD to compute a partial settlement of insurance benefits prior to a complete examination
of the claim. HUD minimizes expenses incurred while paying insurance benefits and provides immediate financial relief to the claimant. Payment of
such benefits is cited in 12 USC 1713(g). The information requested does not lend itself to confidentiality.
Instructions: Prepare this form immediately upon receipt
instructions above and Mortgagee Letter 99-33.
and submit original and 1 copy to the:
A certification that the mortgagee or servicer has completed
U.S. Department of Housing and Urban Development
and submitted Form HUD 2537, Mortgagee's Application for
Partial Settlement, Form HUD 2747, Mortgagee's Appl ication for
Multifamily Claims Branch
Insurance Benefits, and the Form HUD 1044-D, Payment Infor-
451 7th Street, SW, HWAFRC
mation Form and a copy of the Debenture Lock Agreement, if any.
Washington, D. C. 20410 - 8000.
The following claims will be paid in cash unless the mortgagee
On the date the assignment or deed is filed for record, a telefax
presents a written request for debentures: Sections 220, 221 and
is to be sent to the
233 endorsed on or after Jul y 7, 1961; 235(j)(1) Section 241 loans
made in connection with any of the foregoing and endorsed on or
Chief, Multifamily Claims Branch, at (202) 619-8259,
after Jul y 15, 1978; 236 and all other multifamily mortgages en-
dorsed under another section of Titles II or XI pursuant to Section
advising the date that the a ssignment or deed was filed for rec ord.
223(e). All other multifamily claims are settled by issuance of
For assignments, the telefax must include the following
"Assignment of mortgage for (name of Project),
For multifam ily mortgage assig nments w hich are to be settled by
Project No. __________ filed for record and endorsement of
issuance of debentures, all escrow deposits, reserves for replace-
hazard insurance policies accomplished on __________, 20__.
ment funds, undisbursed mortgage proceeds , any undisbursed
Date of default (except for Section 221(g)(4) mortgages)
balance under a letter of credit, and other monies held by the
Unpaid principal balance
mortgagee for the account of the mortgagor must be remitted to
Monthly amount due for principal and interest, taxes, hazard
HUD on the date the assignment is filed for record. The mortgagee
insurance, and reserve for replacement escrows (listed
will retain net income from operation of the project and receipts
from any source after the date of default irrespective of whether
Date and amount of last taxes due
the claim is settled in debentures or cash. For multifamily property
Due date of next taxes payable
conveyances, and for all cash settlements, all funds are to be
Escrow balances for taxes, hazard insurance, reserves for
retained by the mortgagee, and the amount thereof will be deducted
replacements, and mortgage insurance premiums
from the settlement.
Initial and final endorsement dates
If the mortgage has been finally endorsed for insurance, partial
Date of commitment
settlement of approximately 90 % of the unpaid principal balance
Your telefax number
will be made on cash settlements upon receipt of the above telefax.
Mortgagor name, address and tax identification number
If the project is not completed, the amount of the partial settlement
Mortgagor type of entity (indivi dual, partnership, corporation,
will depend upon the extent of completion. The final settlement will
be made after receipt of the fiscal data and the title requirements,
Name and address of company managing the project
which are to be submitted within 45 days after the assigment of the
Is the mortgage Bond Financed? ____Yes _____No
mortgage, or deed, was filed for record, or such further time as may
If yes, please state 'Bond Type.' __________________
be granted in writing.
If the mortgage is bond financed, please follow the
1. Project Number
2. Name & Location of Project
3. Date of this Notice
4. Payment in Default (specify date, amount, & nature)
6. Unpaid Principal Balance
7. Undisbursed Mortgage Proceeds
5. Aggregate Cash Escrows on Hand at this Date
(including Reserves for Replacement)
Send the original and 1 copy to HUD at the above address.
Page 1 of 2
form HUD-2537
Mortgagee/Servicer should retain 1 copy.
ref. Handbook 4110.2


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