[Federal Register Volume 60, Number 193 (Thursday, October 5, 1995)]
[Notices]
[Page 52203]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 95-24720]
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DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT
Office of the Assistant Secretary for Housing--Federal Housing
Commissioner
[Docket No. FR-2491-N-03]
Notice of Proposed Information Collection for Public Comment on
Actions to Reduce Losses in FHA Programs
AGENCY: Office of the Assistant Secretary for Housing-Federal Housing
Commissioner, HUD.
ACTION: Notice.
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SUMMARY: The proposed information collection requirement described
below will be 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.
DATES: Comments due: December 4, 1995.
ADDRESSES: Interested persons are invited to submit comments regarding
this proposal. Comments should refer to the proposal by name and/or OMB
Control Number and should be sent to: Oliver Walker, Reports Liaison
Officer, Department of Housing & Urban Development, 451-7th Street, SW,
Room 9116, Washington, DC 20410.
FOR FURTHER INFORMATION CONTACT:
Andrew Zirneklis, Office of Lender Activities and Land Sales
Registration on (202) 708-1515, extension 2055 (this is not a toll-free
number) for copies of the proposed forms and other available documents
contact Oliver Walker, Chief Directives, Reports and Forms Branch on
708-1694 extension 2144.
SUPPLEMENTARY INFORMATION: The Department will submit the proposed
information collection to OMB for review, as required by the Paperwork
Reduction Act of 1995 (44 U.S.C. Chapter 35, as amended).
The 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: Actions to Reduce Losses in FHA Programs (FR-
2491).
OMB control number, if applicable: OMB# 2502-0392.
Description of the need for the information and proposed use: The
information is used by HUD's Office of Lender Activities and Land Sales
Registration to monitor and evaluate the performance of HUD-approved
mortgagees as to their continued participation in the FHA mortgage
insurance programs. The information is required to prevent losses to
the FHA insurance funds, curb fraud in FHA programs and to maintain an
effective Departmental compliance and administrative sanction process
for lenders who violate the Department's requirements. Approximately
200 HUD approved morgagees annually are required to submit a report
explaining the basis for having above-normal early serious defaults or
claims in connection with FHA insured mortgages. This information is
reviewed, and as appropriate, mortgagees are required to implement
corrective action or be subject to administrative sanctions.
Agency form numbers, if applicable: Not applicable.
Members of affected public: Approximately 200 HUD approved
morgagees.
Estimation of the total numbers of hours neededto prepare the
information collection including number of respondents, frequency of
response, and hours of response: The estimation of the total numbers of
hours needed to prepare the information collection including number of
respondents, frequency of response, and hours of response is 40 hours
(8,000 hours annually) per 1 respondent out of 200 respondents.
Status of the Proposed Information Collection
This a currently approved collection and an extension is being
requested. The OMB approved number will expire on December 31, 1995.
Authority: Section 3506 of the Paperwork Reduction Act of 1995,
44 U.S.C. Chapter 35, as amended.
Dated: September 28, 1995.
Nicolas P. Retsinas,
A/S Secretary for Housing--Federal Housing Commissioner.
[FR Doc. 95-24720 Filed 10-4-95; 8:45 am]
BILLING CODE 4210-27-M
