[Federal Register Volume 61, Number 233 (Tuesday, December 3, 1996)]
[Notices]
[Page 64142]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 96-30767]
-----------------------------------------------------------------------
DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT
[Docket No. FR-4086-N-81]
Office of the Assistant Secretary for Housing-Federal Housing
Commissioner; Notice of Proposed Information Collection for Public
Comment
AGENCY: Office of the Assistant Secretary for Housing-Federal Housing
Commissioner, HUD.
ACTION: Notice.
-----------------------------------------------------------------------
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: February 3, 1997.
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, Housing,
Department of Housing & Urban Development, 451--7th Street, SW, Room
9116, Washington, DC 20410.
FOR FURTHER INFORMATION CONTACT: Ivy Jackson, Telephone number (202)
708-4560 ext. 2333 (this is not a toll-free number) for copies of the
proposed forms and other available documents.
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: Housing and Community Development Act of 1992,
Amendments to Real Estate Settlement Procedures Act (RESPA).
OMB Control Number: 2502-0491.
Description of the need for the information and the proposed use:
Amendments to RESPA in the Housing and Community Development Act of
1992 added a new class of covered transactions--subordinate mortgages.
A new settlement statement form HUD-1A was developed to reflect the
settlement costs associated with these types of transactions.
Agency form numbers: HUD-1A.
Members of the affected public: Consumers who seek a subordinate
lien mortgage are required to receive certain disclosures from the
lender; including, a Good Faith Estimate and HUD-1A. A Controlled
Business Disclosure is required where a settlement provider refers the
consumer to an affiliate.
An estimation of the total numbers of hours needed to prepare the
information collection is 528,025, the number of respondents is
1,508,500, frequency of response is on occasion and the hours of
response is 0.35 of an hour. Status of the proposed information
collection: Extension of a previously approved collection.
Authority: Section 3506 of the Paperwork Reduction Act of 1995,
44 U.S.C. Chapter 35, as amended.
Dated: November 13, 1996.
Nicolas, P. Retsinas,
Assistant Secretary for Housing-Federal Housing Commissioner.
[FR Doc. 96-30767 Filed 12-2-96; 8:45 am]
BILLING CODE 4210-27-M
