[Federal Register Volume 59, Number 169 (Thursday, September 1, 1994)]
[Unknown Section]
[Page 0]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 94-21628]
[[Page Unknown]]
[Federal Register: September 1, 1994]
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DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT
Office of the Assistant Secretary for Public and Indian Housing
[Docket No. R-94-1730; FR-3614-N-02]
Submission of Proposed Information Collection Requirement
AGENCY: Office of the Assistant Secretary for Public and Indian
Housing, HUD.
ACTION: Notice.
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SUMMARY: The proposed information collection requirement described
below has been submitted to the Office of Management and Budget (OMB)
for expedited review, as required by the Paperwork Reduction Act. The
Department is soliciting public comments on the subject proposal.
DATES: Comments due date: September 8, 1994.
ADDRESSES: Interested persons are invited to submit comments regarding
this proposal. Comments should refer to the proposal by name and should
be sent to: Joseph F. Lackey, Jr., OMB Desk Officer, Office of
Management and Budget, New Executive Office Building, Washington, DC
20503.
FOR FURTHER INFORMATION CONTACT:
Kay F. Weaver, Reports Management Officer, Department of Housing and
Urban Development, 451 7th Street, Southwest, Washington, DC 20410,
telephone (202) 708-0050. This is not a toll-free number. Copies of the
proposed forms and other available documents submitted to OMB may be
obtained from Ms. Weaver.
SUPPLEMENTARY INFORMATION: This Notice informs the public that the
Department of Housing and Urban Development has submitted to OMB, for
expedited processing, an information collection package with respect to
the Indian Housing Loan Guarantee Program.
The Housing and Community Development Act of 1992 authorized Loan
Guarantees for Indian Housing. Under this Program, the Department will
guarantee loans made by private lenders to Native American borrowers
and to Indian housing authorities to construct, acquire, or
rehabilitate 1- to 4-family homes. These homes must be located on trust
land or land located in an Indian or Alaska Native area.
The forms will be used by lenders to determine pertinent
information regarding the borrowers creditworthiness and to transmit
specific loan data to Treasury. To determine whether a particular
borrower is eligible for the Section 184 loan guarantee, the lender
must analyze the borrower's ability to repay the mortgage debt. Once
the borrower is deemed approved a guaranteed fee of 1% of the insured
amount must be submitted to HUD prior to the endorsement of any Section
184 loan. The fee is a one time charge that is charged to the borrower
and may be financed into the mortgage amount.
The Department has submitted the proposal for the collection of
information as described below, to OMB for review, as required by the
Paperwork Reduction Act (44 U.S.C. Chapter 25);
(1) The title of the information collection proposal: Form HUD--
53036, Mortgage Credit Analysis and, Form HUD--53038, Transmittal for
Payment of Loan Guarantee Fee.
(2) Office of the agency to collect the information: Office of the
Assistant Secretary for Public and Indian Housing.
(3) The description of the need for the information and its
proposed use:
The data collected on these forms will be used to determine whether
a particular borrower is eligible for the Section 184 loan guarantee
and for remittance of the Loan Guarantee Fee. The lender must analyze
the borrower's ability to repay the mortgage debt by relating his or
her income, assets, and liabilities, to the proposed housing payment.
Once the borrower is deemed creditworthy a guaranteed fee of 1% of the
insured amount must be submitted to HUD prior to the endorsement of any
Section 184 loan.
(4) Agency form number: Forms HUD--53036 and HUD--53038.
(5) Members of the public who will be affected by the proposal:
Eligible private lending community.
(6) How frequently information submissions will be required: Every
time a lender submits a loan application for Section 184 benefits to
the Department.
(7) An estimate of the total number of hours needed to prepare the
information submissions including number of respondents, frequency of
response, and hours of response: One hundred lenders are expected to
use the Loan Guarantee Fund. Lenders will spend approximately .183 of
an hour to complete both forms. This process will take place with every
request for guarantee that the lender submits. We estimate that each of
the one hundred lenders will submit five applications, totaling five
hundred annual responses.
(8) Type of request: New Request.
(9) The names and telephone numbers of an agency official familiar
with the proposal: Lisa A. DiCarlo, Office of Native American Programs,
(202) 755-0066.
Authority: Section 184 of the Housing and Community Development
Act of 1992, Public Law 102-550.
Dated: August 24, 1994.
Joseph Shuldiner,
Assistant Secretary for Public and Indian Housing.
Notice of Submission of Proposed Information Collection to OMB
Proposal: Section 184 Loan Guarantee for Indian Housing Forms.
Office: Office of Native American Programs, PI, DHUD.
Description of the Need for the Information and its Proposed
Use: The data collected on these forms will be used to determine
whether a particular borrower is eligible for the Section 184 loan
guarantee and for remittance of the Loan Guarantee Fee. The lender
must analyze the borrower's ability to repay the mortgage debt by
relating his or her income, assets, and liabilities, to the proposed
housing payment. Once the borrower is deemed creditworthy a
guaranteed fee of 1 percent of the insured amount must be submitted
to HUD prior to the endorsement of any Section 184 loan.
Form Numbers: HUD-53036 and HUD-53038.
Respondents: Eligible private lending community.
Reporting Burden:
------------------------------------------------------------------------
Frequency of Hours per Burden
Number of respondents responses response = hours
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100.................... 5 .183 91.5
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Total Burden..... .............. .............. .. 91.5
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Status: New Collection.
Contact: Lisa DiCarlo (202) 755-0066.
Date: August 24, 1994.
SF83 Supporting Statement for Requests for OMB Approval Under the
Paperwork Reduction Act and 5 CFR 1320
A. Justification
1. Explain the circumstances that make the collection of
information necessary. Include the identification of any legal or
administrative requirements that necessitate the collection.
Section 184 of the Housing and Community Development Act of 1992
authorized Loan Guarantees for Indian Housing. Under this Program,
the Department will guarantee loans made by private lenders to
Native American borrowers and to Indian housing authorities to
construct, acquire, or rehabilitate 1- to 4-family homes. These
homes must be located on trust land or land located in an Indian or
Alaska Native area.
The forms will be used by lenders to determine pertinent
information regarding the borrowers creditworthiness and to transmit
specific loan data to Treasury. To determine whether a particular
borrower is eligible for the Section 184 loan guarantee, the lender
must analyze the borrower's ability to repay the mortgage debt. Once
the borrower is deemed approved a guaranteed fee of 1 percent of the
insured amount must be submitted to HUD prior to the endorsement of
any Section 184 loan. The fee is a one time charge that is charged
to the borrower and may be financed into the mortgage amount.
2. Indicate how, by whom, and for what purpose the information
is to be used and the consequence to Federal program or policy
activities if the collection of information was not conducted.
The information on Forms HUD-53036 and HUD-53038 is to be used
by participating lenders requesting loan guarantees for Native
Americans on restricted lands. If this collection of information was
not conducted, the Department would be unable to guarantee lenders
and as a result unable to provide financing to Native Americans.
3. Describe any consideration of the use of improved information
technology to reduce burden and any technical or legal obstacles to
reducing burden.
We have not considered the use of any improved technology since
there is no other way to obtain information regarding the
applicants.
4. Describe efforts to identify information.
The Department is not collecting this data through any other
information collection mechanism.
5. Show specifically why any similar information already
available cannot be used or modified for use for the purpose (2)
described in # 2.
There is no similar information currently available. No loan
level information is currently reported now.
6. If the collection of information involves small businesses or
other small entities, describe the methods used to minimize burden.
The data requested was designed to minimize the burden for both
large and small organizations, as well as for the Federal
Government, by requesting a minimal amount of information. The form
is to be completed manually, requires little completion time and
does not represent a substantial burden.
7. Describe the consequence to Federal program or policy
activities if the collection were conducted less frequently.
Legislation requires the lender to submit application for the
loan to the Secretary for examination. HUD would be in violation of
the law if less frequent collection were made.
8. Explain any special circumstances that require the collection
to be conducted in a manner inconsistent with the guidelines in 5
CFR 1320.6.
This information collection does not violate 5 CFR 1320.6.
9. Describe efforts to consult with persons outside the agency
to obtain their views on the availability of data, frequency of
collection, the clarity of instructions and recordkeeping,
disclosure, or reporting format (if any), and on the data elements
to be recorded, disclosed, or reported.
The data being collected under this program mirrors the exact
type of data the Federal Housing Administration (FHA) collects for
its Single Family housing programs. FHA has collected and processed
this type of data from lenders for 50 years. In addition, the
Veterans' Administration collects similar information from their
lenders.
10. Describe any assurance of confidentiality provided to
respondents and the basis for the assurance in statute, regulation,
or agency policy.
All financial and personal data submitted to HUD is considered
confidential under the Privacy Act.
11. Provide additional justification for any questions of a
sensitive nature, such as sexual behavior and attitudes, religious
beliefs, and other matters that are commonly considered private.
This justification should include the reasons why the agency
considers the questions necessary, the specific uses to be made of
the information, the explanation to be given to persons from whom
the information is requested, and any steps to be taken to obtain
their consent.
No sensitive information is to be collected.
12. Provide estimates of annualized cost to the Federal
Government and to the respondents. Also provide a description of the
method used to estimate cost, which should include quantification of
hours, operational expenses, and any other expenses that would not
have been incurred without the paperwork burden.
These forms are part of the lenders overall mortgage servicing
operations. Costs for processing these forms are estimated at $1,104
annually (based on 92 burden hours at $12.00 per hour). Other costs,
such as reproduction of the forms are negligible.
13. Provide estimates of the burden of the collection of
information.
The number of participating lenders is estimated to be one
hundred. Each lender must submit each Form HUD-53036 and HUD-53038
for mortgage credit analysis and remittance under the Section 184
program for each loan processed. Total responses will amount to five
hundred annually. The time required to complete these forms is based
upon manual form completion.
14. Explain reasons for change in burden, including the need for
any increase.
This is a new information collection requirement, since this is
the first time Congress has appropriated funds for this purpose.
15. Collection of information whose results are planned to be
published for statistical use, outline plans for tabulation,
statistical analysis, and publication. Provide the time schedule for
the entire project, including beginning and ending dates of the
collection of information, completion of report, publication dates,
and other actions.
This information is not collected to be published for
statistical use.
BILLING CODE 4210-33-M
TN01SE94.001
TN01SE94.002
TN01SE94.003
BILLING CODE 4210-33-C
[FR Doc. 94-21628 Filed 8-31-94; 8:45 am]
BILLING CODE 4210-33-M
