E5-4410. Notice of Submission of Proposed Information Collection to OMB; Borrowers Personal Financial Statement for Compromise/Settlement

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.

The information is used by HUD to analyze the financial position of borrower potentially in default for the purpose of evaluating compromises, partial settlement offers, and payment arrangements. It is required of a small percentage of debtors to establish repayment.

DATES:

Comments Due Date: September 15, 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 (2502-0098) 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 or from HUD's Web site at http://hlannwp031.hud.gov/​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: Borrowers Personal Financial Statement for Compromise/Settlement.

OMB Approval Number: 2502-0098.

Form Numbers: HUD-56142, HUD-56141.

Description of the Need for the Information and Its Proposed Use: The information is used by HUD to analyze the financial position of borrowers potentially in default for the purpose of evaluating compromisers, partial settlement offers, and payment arrangements. It is required of a small percentage of debtors to establish repayment.

Frequency of Submission: On occasion.

Reporting Burden

Number of respondents	Annual responses	×	Hours per response	=	Burden hours
800	1		1		800

Total Estimated Burden Hours: 800.

Status: Revision of a currently approval collection.

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

Dated: August 9, 2005.

Wayne Eddins,

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