2019-01712. 30-Day Notice of Proposed Information Collection: Personal Financial and Credit Statement

AGENCY:

Office of the Chief Information Officer, HUD.

ACTION:

Notice.

SUMMARY:

HUD submitted the proposed information collection requirement described below to the Office of Management and Budget (OMB) for review, in accordance with the Paperwork Reduction Act. The purpose of this notice is to allow for 30 days of public comment.

DATES:

Comments Due Date: March 13, 2019.

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: HUD Desk Officer, Office of Management and Budget, New Executive Office Building, Washington, DC 20503; fax: [phone], Email: [e-mail].

FOR FURTHER INFORMATION CONTACT:

Colette Pollard, Reports Management Officer, QMAC, Department of Housing and Urban Development, 451 7th Street SW, Washington, DC 20410; email [e-mail], or telephone [phone]. This is not a toll-free number. Person with hearing or speech impairments may access this number through TTY by calling the toll-free Federal Relay Service at [phone].

Copies of available documents submitted to OMB may be obtained from Ms. Pollard.

SUPPLEMENTARY INFORMATION:

This notice informs the public that HUD is seeking approval from OMB for the information collection described in Section A.

The Federal Register notice that solicited public comment on the information collection for a period of 60 days was published on September 27, 2018 at 83 FR 48861.

A. Overview of Information Collection

Title of Information Collection: Personal Financial and Credit Statement.

OMB Approved Number: 2502-0001.

Type of Request: Revision of currently approved collection.

Form Number: HUD-92417.

Description of the need for the information and proposed use: A credit investigation of the sponsor, mortgagor, and general contractor to evaluate the character, capital, and ability to develop, build, complete and maintain a multifamily project. The Department has authority under the National Housing Act (12 U.S.C. 1701 et seq.) and implementing regulations (24 CFR parts 200-267) to collect information to evaluate the character, ability, and capital of the sponsor, mortgagor, and general contractor for mortgage insurance. The financial analysis of the project's principal participants is an integral part of the underwriting process. Therefore, the Department is legally authorized to review the mortgagor's financial capacity to minimize risk to the insurance funds.

Respondents: Individuals participating in HUD Multifamily mortgage insurance programs as principals of sponsors, mortgagors, and general contractors.

Estimated Number of Respondents: 1,230.

Estimated Number of Responses: 1,230.

Frequency of Response: 1.

Average Hours per Response: 8.

Total Estimated Burdens: 9,840.

B. Solicitation of Public Comment

This notice is soliciting comments from members of the public and affected parties concerning the collection of information described in Section A on the following:

(1) 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) The accuracy of the agency's estimate of the burden of the proposed collection of information;

(3) Ways to enhance the quality, utility, and clarity of the information to be collected; and

(4) Ways to 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.

HUD encourages interested parties to submit comment in response to these questions.

C. Authority

Section 3507 of the Paperwork Reduction Act of 1995, 44 U.S.C. Chapter 35.

Dated: December 21, 2018.

Colette Pollard,

Department Reports Management Officer, Office of the Chief Information Officer.