Forms Revision Chart

HUD Form # 56141, TITLE: Settlement Offer

LOCATION	CURRENT TEXT	REVISED TEXT
p. 1, Heading	(exp. 11/30/2022)	**Update once approved**
p. 1., Top of page	Instructions on Page 2.	Public Reporting Burden, Privacy Act Statements, and Instructions (page 2) should be fully reviewed before completing this form
p. 1, 2nd block of options	The following parties will be released from liability to this Department for this debt. (Partial Settlement Offer):	(Formatting Change) A line has been added after the :
p. 1, 2nd block of options	Debt Discharged in Bankruptcy, (Release of lien only)	Release of Lien Only (Does not Release Personal Liability of Parties)
p. 1, 3rd block of options	I (we) have enclosed a Certified Check or Money Order for the lump sum payment.	I (we) will forward certified funds or pay the lump sum online at www.pay.gov by (date).
p. 1, boxed section above signatures	I/We, the undersigned, certify under penalty of perjury that the information provided above is true and correct.	I/We, the undersigned, certify under penalty of perjury that the information provided above is true, correct, and accurate.
p. 1, footer	1 of 2	1 of 3
p. 1, footer	(01/2006)	**removed**
p. 2, Public Reporting Burden Statement	Public reporting burden for this collection of information is estimated to average 5 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 information is required to obtain the benefit sought. HUD may not collect this information, and you are not required to complete this form, unless it displays a currently valid OMB control number. “Section 2(c) of the National Housing Act authorizes the Secretary of the Department of Housing and Urban Development to collect or compromise all obligations assigned to or held by the Secretary and all legal or equitable rights accruing to HUD in connection with the payment of a HUD-insured loan until such times as such obligations may be referred to the attorney General for suit or collection. The information is collected under P.L. 479 and is used to determine the debtor’s attitude about repayment of the debt and his/her ability to repay the debt. “Privacy Act Statement: The Department of Housing and Urban Development is authorized to collect the requested information by Section 2(c) of the National Housing Act. This information is protected by the Privacy Act and will not be otherwise disclosed or released outside of HUD, except as permitted or required by law or to appropriate Federal, state, and local agencies, and when relevant to civil, criminal, or regulatory investigations and/or prosecutions. Failure to provide some or all of the information may result in legal action to collect the debt.” Completion of this form is not required. However, the information requested is required to obtain benefits. Please fill out this form or provide the information in another format.	Public Reporting Burden for this collection of information is estimated to average 5 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. Comments concerning the accuracy of this burden estimate and any suggestions for reducing this burden should be sent to the Reports Management Officer, QDAM, Department of Housing and Urban Development, 451 7th St, SW, Rm 4176, Washington, DC 20410-5000. This information is required to obtain the benefit sought. HUD may not collect this information, and you are not required to complete this form, unless it displays a currently valid OMB control number. Section 2(c)(1)(B) of the National Housing Act (12 U.S.C 1703(c)(1)(B)) authorizes the Secretary of the Department of Housing and Urban Development to collect or compromise all obligations assigned to or held by the Secretary and all legal or equitable rights accruing to HUD in connection with the payment of a HUD-insured loan until such times as such obligations may be referred to the attorney General for suit or collection. The information is collected pursuant to the National Housing Act (12 U.S.C. 1701, et seq.), and is used by HUD to determine the debtor’s willingness and ability to repay their debt.
p. 2, Privacy Act Statement	“Privacy Act Statement: The Department of Housing and Urban Development is authorized to collect the requested information by Section 2(c) of the National Housing Act. This information is protected by the Privacy Act and will not be otherwise disclosed or released outside of HUD, except as permitted or required by law or to appropriate Federal, state, and local agencies, and when relevant to civil, criminal, or regulatory investigations and/or prosecutions. Failure to provide some or all of the information may result in legal action to collect the debt.” Completion of this form is not required. However, the information requested is required to obtain benefits. Please fill out this form or provide the information in another format.	Privacy Act Statement Pursuant to 5 U.S.C. § 552a(e)(3), this Privacy Act Statement serves to inform you of the following concerning the collection of the information on this form. Authority: The Debt Collection Improvement Act of 1996 (Pub. L. 104-134, 5 U.S.C. 5514, 31 U.S.C. 3701 et seq.), as amended; The Federal Claims Collection Act of 1966 (Pub. L. 89-508) and Debt Collection Act of 1982 (Pub. L. 97-365); 31 C.F.R. 285; 24 C.F.R. Part 17, Subpart C; 80 Stat. 309, Section 3(b); The Housing and Community Act of 1987, 42 U.S.C. 3543(a), authorizes HUD to collect the Social Security Number (SSN); 12 U.S.C. 1703(c) authorizes the collection, compromise, and sale of debt obligations to HUD in connection with the payment of FHA loans. Purpose: HUD’s mission is to provide effective and efficient servicing to maximize the recovery of debts and minimize losses arising from FHA loan programs. The purpose for collecting this information is to support activities related to the collection of debts resulting from defaults on HUD/FHA insured Title I loans and from other HUD/FHA loans. Routine Use: The information collected on this form will be used by HUD to collect this debt and assess your ability to repay. Information will not be otherwise disclosed or released outside of HUD, except as permitted or required by law to appropriate Federal, state, and local agencies when relevant to debt collection, payment offsets, and reporting; to civil, criminal, or regulatory investigations and/or prosecutions; to your employer to issue wage garnishment order; to third party debt purchasers for relevant asset sale transactions; to appropriate agencies, entities, and persons to mitigate a breach or related incident. Information may also be used by HUD for computer matching for verification purpose. Disclosure: Completion of this form is voluntary and not required. You may object to this information request by refusing to complete the form. You may withhold your consent to specific uses of your information by withholding that information. However, the information requested is required to obtain benefits. SORN URL: https://www.govinfo.gov/content/pkg/FR-2007-11-13/pdf/E7-22077.pdf
p. 2, footer	2 of 2	2 of 3
p. 2, footer	(01/2006)	**removed**
p. 3, footer	**new**	3 of 3 form HUD-56141