[Federal Register Volume 61, Number 156 (Monday, August 12, 1996)]
[Notices]
[Page 41946]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 96-20171]
Federal Register / Vol. 61, No. 156 / Monday, August 12, 1996 /
Notices
[[Page 41946]]
DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT
[Docket No. FR-3638-N-06]
Office of the Assistant Secretary for Housing-Federal Housing
Commissioner; Proposed Collection; Comment Request
AGENCY: Office of the Assistant Secretary for Housing-Federal Housing
Commissioner, HUD.
ACTION: Notice of proposed information collection.
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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. By separate
notice in today's Federal Register, the Department is also soliciting
comment for a 7-day emergency review period on the same and related
information collection requirements covered by this notice.
DATES: Comments due: October 11, 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, Reports Liaison
Officer, Department of Housing and Urban Development, 451--7th Street,
SW., Room 9116, Washington, DC 20410.
FOR FURTHER INFORMATION CONTACT:
Ivy M. Jackson, Real Estate Settlement Procedures Act (RESPA)
Enforcement Unit, Department of Housing and Urban Development, Room
5341, 451 7th Street, SW., Washington, DC 20410; phone (202) 708-4560
(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 (this is not a
toll-free number). For hearing- and speech-impaired persons, these
telephone numbers may be accessed via TTY (text telephone) by calling
the Federal Information Relay Service at 1-800-877-8339.
SUPPLEMENTARY INFORMATION: The Department will submit to OMB for review
the proposed information collection contained in a rule published June
7, 1996 (61 FR 29238) (``June 7 rule''), as required by the Paperwork
Reduction Act of 1995 (44 U.S.C. Chapter 35). By two separate documents
in today's Federal Register, the Department, simultaneously with this
notice: (1) Is soliciting comment for a 7-day emergency review period
on the same and related information collection requirements covered by
this notice; and (2) is publishing a correction for the June 7 rule,
which contained erroneous information about the approval status of
these information collections.
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: Controlled Business Arrangement Disclosure (CBA
disclosure) under 24 CFR 3500.15, as amended by a rule published June
7, 1996 (61 FR 29238).
OMB Control Number: Pending.
Description of the need for the information and proposed use: A
settlement service provider or an employee of a settlement service
provider is required to give the borrower a CBA disclosure prior to or
at the time the borrower is referred to an affiliated provider. The CBA
disclosure must be a separate piece of paper and the format must
contain the following information.
1. Specify the nature of the relationship (explaining the ownership
and financial interest) between the person performing the settlement
service and the person making the referral.
2. Describe the estimated charges or range of charges generally
made by the provider of settlement services.
3. State that the borrower is not required to use the referred
provider (except for certain circumstances).
Agency form numbers, if applicable: None.
Members of affected public: Settlement service providers and their
employees.
Estimation of the total numbers of hours needed to prepare the
information collection including number of respondents, frequency of
response, and hours of response: See below.
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Number of Frequency of Hours per
respondents x response x response = Burden hours
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10,000....... 2.4 mill. 0.10 240,000
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Total Estimated Burden Hours: 240,000.
Status of the proposed information collection: Emergency review
request pending for approval of disclosure requirements.
Authority: 44 U.S.C. 3506; 42 U.S.C. 3535(d).
Dated: August 1, 1996.
Nicolas P. Retsinas,
Assistant Secretary for Housing-Federal Housing Commissioner.
[FR Doc. 96-20171 Filed 8-9-96; 8:45 am]
BILLING CODE 4210-27-M
