[Federal Register Volume 61, Number 105 (Thursday, May 30, 1996)]
[Notices]
[Pages 27092-27093]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 96-13503]
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DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT
[Docket No. FR-3917-N-83]
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.
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SUMMARY: The proposed information 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: July 29, 1996.
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 and Urban Development, 451 7th Street SW., Room
9116, Washington, DC 20410.
FOR FURTHER INFORMATION CONTACT:
Donald Kline, Single Family Insurance Operations Division (SFIOD),
telephone number (202) 708-0614 ext. 3511 for form HUD-27050-A or
Savannah Williams, SFIOD, telephone number (202) 708-0614 ext. 3407 for
form HUD-27050-B (these are not toll-free numbers) 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 proper performance of the function 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: Mortgage Insurance Termination--HUD-27050-A,
Application for Premium Refund or Distributive Share Payment, HUD-
27050-B.
OMB Control Number: 2502-0414.
Description of the Need for the Information and Proposed Use:
Mortgage Insurance Termination, form HUD-27050-A, is used by servicing
mortgagees to comply with HUD requirements for reporting termination of
FHA mortgage insurance. This form is used whenever FHA mortgage
insurance is terminated and no claim for insurance benefits will be
filed. Under the new streamline III program when the form is submitted
on magnetic tape, the form can be used to directly pay eligible
homeowners. This condition occurs when the form passes the criteria of
certain system edits.
As the result the system generates a disbursement to the eligible
homeowners for the refund consisting of the unused portion of the paid
premium. The collection information required is used to update HUD's
Single Family Insurance System. The billing of
[[Page 27093]]
mortgage insurance premiums is discontinued as a result of the
transaction. Without this information the premium collection/monitoring
function would be severely impeded and program data would be
unreliable. Under streamline III when the form is processed and but
does not pass the series of edits the system generates in these cases
the form HUD-27050-B to the homeowner to be completed and returned to
HUD for further processing for the refund. In general a Premium Refund
is the difference between the amount of prepaid premium and the amount
of the premium that has been earned by HUD up to the time the mortgage
is terminated.
Estimate of Burden: Public reporting burden for this collection of
information for the HUD-27050-A is estimated to average 5 minutes per
response, including the time for reviewing instructions, searching
existing data sources gathering and maintaining the data needed, and
completing and reviewing the collection of information. The number of
respondents is 9,500 and the frequency of response is as required and
the volume per respondents is 1 to 40,000 depending on the size of
their FHA portfolio.
Public reporting burden for this collection of information for the
HUD-27-50-B estimated to average 15 minutes per response, including the
time for reviewing instructions, searching existing data sources
gathering and maintaining the data needed, and completing and reviewing
the collection of information. The number of respondents is 382,000 and
the frequency of response is one time and the volume per respondents is
1.
Authority: Section 3506 of the Paperwork Reduction Act of 1995,
44 U.S.C. Chapter 35, as amended.
Dated: May 23, 1996.
Nicolas P. Retsinas,
Assistant Secretary for Housing-Federal Housing Commissioner.
[FR Doc. 96-13503 Filed 5-29-96; 8:45 am]
BILLING CODE 4210-27-M
