[Federal Register Volume 61, Number 183 (Thursday, September 19, 1996)]
[Notices]
[Page 49329]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 96-23961]
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DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT
[Docket No. FR-4086-N-39]
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 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.
DATES: Comments due: November 18, 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:
Natalie Yee, Single Family Insurance Operations Division (SFIOD),
Telephone number (202) 708-0614 ext. 3500 for information on the Single
Family Premium Collection Subsystem Upfront (formerly form HUD-27001,
Transmittal of Upfront Mortgage Insurance Premium) (this is not a toll-
free number).
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 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: Single Family Premium Collection Subsystem
Upfront.
OMB Control Number: 2502-0423.
Description of the need for the information and the proposed use:
The new Single Family Premium Collection Subsystem (SFPCS) replaces the
A83 One-Time Mortgage Insurance Premium System. The form HUD-27001,
Transmittal of Upfront Mortgage Insurance Premium is now obsolete.
However, the information collection is still in effect. SFPCS will
strengthen HUD's ability to manage and process single family mortgage
insurance premium collections and corrections for the majority of
insured single family mortgages. It also will improve data integrity
for the Single Family Insurance Program. FHA approved lenders will use
the new versions of Melon's Telecash and HUD Mortgage Premium
Connection (HUD-MPC) software for all transmissions with SFPCS. SFPCS
replaces the old A83 system and the form HUD-27001 which lenders used
to remit Upfront Mortgage Insurance Premiums using funds obtained from
the mortgagor during the closing of the mortgage transaction at
settlement. The authority for this collection of information is
specified in 24 CFR 203.284. The collection of information is used to
update HUD's Single Family Insurance System. Without this information
the premium collection/monitoring process would be severely impeded and
program data would be unreliable. In general lenders use the new
software remit the upfront premium through SFPCS to obtain mortgage
insurance for the homeowner.
Agency form numbers: Not applicable.
Members of affected public: Business or other for-profit.
Public reporting burden for this collection of information is
estimated to average 0.5 hours 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 burden of completing the form will be
eliminated. Lenders will be able to key the information online or have
their computer transmit the information. The number of respondents is
3,378 and the frequency of response is on occasion, that is a specific
event, a mortgage closing. Since remittance is made through the
Automatic Clearinghouse, the upfront remittance is submitted
electronically and there is no paperwork to complete and mail in.
Status of the proposed information collection: Extension of a currently
approved collection.
Authority: Section 3506 of the Paperwork Reduction Act of 1995,
44 U.S.C. Chapter 35, as amended.
Dated: September 12, 1996.
Nicolas P. Retsinas,
Assistant Secretary for Housing-Federal Housing Commissioner.
[FR Doc. 96-23961 Filed 9-18-96; 8:45 am]
BILLING CODE 4210-27-M
