[Federal Register Volume 64, Number 188 (Wednesday, September 29, 1999)]
[Notices]
[Pages 52513-52514]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 99-25262]
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DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT
[Docket No. FR-4445-N-22]
Notice of Proposed Information Collection: Comment Request;
Appraisals of FHA-Insured Single Family Properties
AGENCY: Office of the Assistant Secretary for Housing, 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 Date: November 29, 1999.
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: Wayne Eddins, Reports Management
Officer, Department of Housing and Urban Development, 451 7th Street,
SW, L'Enfant Building, Room 8202, Washington, DC 20410.
FOR FURTHER INFORMATION CONTACT: Vance Morris, Director, Home Mortgage
Insurance Division, Department of Housing and Urban Development, 451
7th Street SW, Washington, DC 20410, telephone number (202) 708-2700
(this is not a toll-free number), for copies of the proposed forms and
other available information.
SUPPLEMENTARY INFORMATION: The Department is submitting 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
affected agencies concerning the proposed collection of information to:
(1) Evaluate whether the proposed collection 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 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: Appraisals of FHA-Insured Single Family
Properties Forms.
OMB Control Number, if applicable: 2502-0538.
Description of the need for the information and proposed use: The
information collection is essential so that HUD can ensure that
appraisals of HUD-insured single family properties are conducted by
individuals who are qualified, trained and knowledgeable in the real
estate appraisal field and that the appraisals of HUD-insured single
family properties or prospective insured
[[Page 52514]]
properties are thorough and independent.
(1) Each individual seeking to become an FHA approved appraiser
must submit Form HUD-92563 ``Roster Designation Application'' and a
copy of the individual's state licensing and/or state certification
documentation. HUD has recently established the requirement that each
applicant must also pass a HUD/FHA Appraisal Examination.
THe HUD-92563 has been modified to reflect the examination
requirement. The revised form also requests information on geographic
areas of practice. In addition, applicants must certify that they will
comply with HUD Handbook 4150.2, Valuation Analysis for Home Mortgage
Insurance for Single Family One- to Four-Unit Dwellings, and other
directives relating to appraisals and authorize HUD to inspect the
appraiser's files. The revised form also sets forth several warnings of
possible sanctions for presenting false or fraudulent statements.
(2) Each FHA approved appraiser will conduct an appraisal of FHA-
insured, or prospective FHA-insured single family properties, using the
Uniform Residential Appraisal Report (URAR), and HUD-92564, Valuation
Condition Sheet (VC Sheet).
The appraiser will also prepare for the homebuyer HUD-92564-HS,
Homebuyer Summary. This document is a summary of the appraiser's
observations of the property visited, including problems rendering the
property unacceptable for FHA mortgage insurance.
The lender must also ensure that the prospective homebuyer has
received a HUD-92564-CN, a consumer notice explaining the importance of
obtaining a home inspection. The name of the buyer has replaced that of
the seller in the latest version of this form to avoid confusion.
The estimated number of respondents is approximately 15,000. The
estimated number of appraisals per respondent is estimated to be 80 per
year.
Agency Form Numbers, if applicable: Forms HUD-92563, HUD-92564-VC,
HUD-92564-HS, and HUD-92564-CN.
Estimation of the total numbers of hours needed to prepare the
information collection including number of respondents, frequency of
response, and hours of response: The estimated number of respondents is
15,000 for the Valuation Condition Sheet, HUD-92564-VC (80 responses
per respondent, .30 minutes per response), 15,000 for the Homebuyer
Summary, HUD-92564-HS, (80 responses per respondent, .10 minutes per
response), and 50,000 for the Application for Fee Personnel
Designation, HUD-92563 (1 response per respondents, .50 minutes per
response); the frequency of response is one-time for acceptance to the
approval roster list. The total annual burden hours are estimated at
505,000.
Status of the proposed information collection: Revision of a
currently approved submission.
Authority: The Paperwork Reduction Act of 1995, 44 U.S.C.,
Chapter 35, as amended.
Dated: September 22, 1999.
William C. Apgar,
Assistant Secretary for Housing-Federal Housing Commissioner.
[FR Doc. 99-25262 Filed 9-28-99; 8:45 am]
BILLING CODE 4210-27-M
