E7-645. Notice of Submission of Proposed Information Collection to OMB; Reporting Requirements Associated With 24 CFR 235.1001 and 24 CFR 203.508(c)-Mortgagees Annual Notification to Mortgagors

AGENCY:

Office of the Chief Information Officer, HUD.

ACTION:

Notice.

SUMMARY:

The proposed information collection requirement described below has been 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.

Mortgagees must inform mortgagors in a yearend statement, of paid interest and disbursed taxes from the escrow account. This information is for state and federal income tax filing purposes. The yearend statement must provide an interest accounting in such a way as to allow the mortgagor to easily identify the amount of any subsidy paid by HUD for FHA “235” loans.

DATES:

Comments Due Date: February 20, 2007.

ADDRESSES:

Interested persons are invited to submit comments regarding this proposal. Comments should refer to the proposal by name and/or OMB approval Number (2502-0235) and should be sent to: HUD Desk Officer, Office of Management and Budget, New Executive Office Building, Washington, DC 20503; fax: [phone].

FOR FURTHER INFORMATION CONTACT:

Lillian Deitzer, Departmental Reports Management Officer, QDAM, Department of Housing and Urban Development, 451 Seventh Street, SW., Washington, DC 20410; e-mail [e-mail] or telephone [phone]. This is not a toll-free number. Copies of available documents submitted to OMB may be obtained from Ms. Deitzer or from HUD's Web site at http://hlannwp031.hud.gov/​po/​i/​icbts/​collectionsearch.cfm.

SUPPLEMENTARY INFORMATION:

This notice informs the public that the Department of Housing and Urban Development has submitted to OMB a request for approval of the information collection described below. This notice is soliciting comments from members of the public and affecting agencies concerning the proposed collection of information to: (1) Evaluate whether the proposed collection of information 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 through 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: Reporting Requirements Associated with 24 CFR 235.1001 and 24 CFR 203.508(c)—Mortgagees Annual Notification to Mortgagors.

OMB Approval Number: 2502-0235.

Form Numbers: None.

Description of the Need for the Information and Its Proposed Use: Mortgagees must inform mortgagors in a yearend statement, of paid interest and disbursed taxes from the escrow account. This information is for state and federal income tax filing purposes. The yearend statement must provide an interest accounting in such a way as to allow the mortgagor to easily identify the amount of any subsidy paid by HUD for FHA “235” loans.

Frequency of Submission: Annually.

	Number of respondents	Annual responses	×	Hours per response	=	Burden hours
Reporting Burden	438	9,141.2		0.00028		1,143

Total Estimated Burden Hours: 1,143.

Status: Extension of a currently approved collection.

Authority: Section 3507 of the Paperwork Reduction Act of 1995, 44 U.S.C. 35, as amended.

Dated: January 12, 2007.

Lillian L. Deitzer,

Departmental Paperwork Reduction Act Officer, Office of the Chief Information Officer.