05-4395. Notice of Submission of Proposed Information Collection to OMB; Application for Approval as FHA Title I/II Lender/GNMA Mortgage-Backed Securities Issuer

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.

HUD is requesting approval to consolidate the two currently approved information collections for Application for Approval as FHA Title I/II Lender/GNMA Mortgage-Backed Securities Issuer and the Annual Financial Statements from Title I/II Nonsupervised Mortgagees/Loan Correspondents.

DATES:

Comments Due Date: April 7, 2005.

ADDRESSES:

Interested persons are invited to submit comments regarding this proposal. Comments should refer to the proposal by name and/or OMB approval Number (2502-0005) 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:

Wayne Eddins, Reports Management Officer, AYO, Department of Housing and Urban Development, 451 Seventh Street, SW., Washington, DC 20410; e-mail [e-mail]; or Lillian Deitzer at [e-mail] or telephone [phone]. This is not a toll-free number. Copies of available documents submitted to OMB may be obtained from Mr. Eddins or Ms Deitzer and at HUD's Web site at http://www5.hud.gov:63001/​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: Application for Approval as FHA Title I/II Lender/GNMA Mortgage-Backed Securities Issuer.

OMB Approval Number: 2502-0005.

Form Numbers: HUD-11701, HUD-11701-A, HUD-11701-B, HUD-11701-C, HUD-11701-D, HUD-11701-E, HUD-92001-B, and HUD-56005.

Description of the Need for the Information and Its Proposed Use: This information is required for approval of FHA Title I lenders and Title II mortgagees and for issuers of Ginnie Mae mortgage-backed securities. Additional information is then required of all FHA approved Title I lenders and Title II mortgagees to: (1) Maintain their approval (annual Recertification); (2) add/delete branches; (3) pay additional fees to FHA for annual Recertification, new branches, and business conversions; (4) report business changes of lender or mortgagee including structure, addresses, and principal owners and officers; (5) report non-compliances detected by lender and mortgagee quality control plans; and (6) voluntarily terminate FHA approval. HUD is requesting approval to consolidate the two currently approved information collections for Application for Approval as FHA Title I/II Lender/GNMA Mortgage-Backed Securities Issuer and the Annual Financial Statements from Title I/II Nonsupervised Mortgagees/Loan Correspondents.

Frequency of Submission: On occasion.

	Number of respondents	Annual responses	×	Hours per response	=	Burden hours
Reporting Burden	13,500	41,150		0.7		28,298

Total Estimated Burden Hours: 28,298.

Status: Revision of a currently approved collection.

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

Dated: March 2, 2005.

Wayne Eddins,

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