2017-20716. 30-Day Notice of Proposed Information Collection: Rehabilitation Mortgage Insurance Underwriting Program Section 203(k)

AGENCY:

Office of the Chief Information Officer, HUD.

ACTION:

Notice.

SUMMARY:

HUD submitted the proposed information collection requirement described below to the Office of Management and Budget (OMB) for review, in accordance with the Paperwork Reduction Act. The purpose of this notice is to allow for 30 days of public comment.

DATES:

Comments Due Date: October 27, 2017.

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: HUD Desk Officer, Office of Management and Budget, New Executive Office Building, Washington, DC 20503; fax:[phone], Email: OIRA [e-mail]

FOR FURTHER INFORMATION CONTACT:

Colette Pollard, Reports Management Officer, QMAC, Department of Housing and Urban Development, 451 7th Street SW., Washington, DC 20410; email [e-mail], or telephone [phone]. This is not a toll-free number. Person with hearing or speech impairments may access this number through TTY by calling the toll-free Federal Relay Service at [phone].

Copies of available documents submitted to OMB may be obtained from Ms. Pollard.

SUPPLEMENTARY INFORMATION:

This notice informs the public that HUD is seeking approval from OMB for the information collection described in Section A.

The Federal Register notice that solicited public comment on the information collection for a period of 60 days was published on July 12, 2017.

A. Overview of Information Collection

Title of Information Collection: Rehabilitation Mortgage Insurance Underwriting Program Section 203(k).

OMB Approval Number: 2502-0527.

Type of Request: Extension of a currently approved collection.

Form Number: HUD-92700-A, HUD-9746-A, HUD-92577

Description of the need for the information and proposed use: This request for OMB review involves an extension request for information collected under OMB approval 2502-0527 for lenders that originate and service Section 203(k) mortgages.

The information collection specifically focuses on documenting rehabilitation loan expenses, maintaining the repair escrow accounts and the use of FHA approved 203(k) consultants. This program does not operate independent of FHA's established process. The loan origination process and underwriting follows the same standards and systems as all 203(b) loans as documented in OMB Control Numbers 2502-0059 & 2502-0556. Per the existing collection 15,871 respondents are borrowers and lenders, including approximately 20 nonprofits, who annually apply for Standard 203(k) and Limited 203(k) loans the 203(k) program. Also, 1,939 consultants are on FHA's 203(k) Consultant Roster.

Respondents (i.e. affected public): Business or other for-profit.

Estimated Number of Respondents: 15,871.

Estimated Number of Responses: 222,222.

Frequency of Response: Once per loan.

Average Hours per Response: .94.

Total Estimated Burdens: 7,107,425.

B. Solicitation of Public Comment

This notice is soliciting comments from members of the public and affected parties concerning the collection of information described in Section A on the following:

(1) 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) The accuracy of the agency's estimate of the burden of the proposed collection of information;

(3) Ways to enhance the quality, utility, and clarity of the information to be collected; and

(4) Ways to 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.

HUD encourages interested parties to submit comment in response to these questions.

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

Dated: September 20, 2017.

Colette Pollard,

Department Reports Management Officer, Office of the Chief Information Officer.