[Federal Register Volume 61, Number 121 (Friday, June 21, 1996)]
[Notices]
[Pages 31946-31947]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 96-15860]



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DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT

[Docket No. FR-3927-N-03]


Office of the Assistant Secretary for Housing-Federal Housing 
Commissioner; Notice of Proposed Information Collection for Public 
Comment; Revision to the Section 235(r) Refinancing Procedures

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: August 20, 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, Reports Liaison 
Officer, Department of Housing & Urban Development, 451-7th Street, SW, 
Room 9116, Washington, DC 20410.

FOR FURTHER INFORMATION CONTACT:
Diane L. Lobasso, Home Mortgage Insurance Division, Department of 
Housing and Urban Development, Room 9278, 451 7th Street, S.W., 
Washington, D.C. 20410; Telephone number (202) 708-2700, extension 
2191; TDD (202) 708-4594 (this is not a toll-free number) for copies of 
the proposed forms and other available documents contact Oliver Walker, 
Chief Directives, Reports and Forms Branch on 708-1694 extension 2144.

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: Revision to the Section 235(r) Refinancing 
Procedures (FR-3927).
    OMB Control Number, if applicable:
    OMB # 2502-0456.
    Description of the need for the information and proposed use: The 
information is collected by the originating lender from the mortgage 
application and is used by the originating lender to process the 
applications for Section 235(r) mortgage insurance and assistance. The 
applications are underwritten and certified by the originating lender.
    The information is needed for the evaluation of the applications, 
the Department's financial management and accounting system(s) and the 
Department's monitoring of the origination and servicing activities of 
the lender.
    If the information is not collected the originating lender cannot 
make the proper underwriting decisions and the Department's data base 
would be incomplete for its financial management and accounting 
system(s). Furthermore, the Department's efforts to monitor the 
origination and servicing activities of the lender would be 
debilitated.
    Agency form numbers, if applicable: HUD-93114.
    Members of affected public: Approximately 23,000 (each potential

[[Page 31947]]

mortgage refinance transaction is an equivalent respondent).
    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 estimation of the total numbers of 
hours needed to prepare the information collection including number of 
respondents, frequency of response, and hours of response is .34 hours 
(6,437 hours annually) per 1 respondent out of 23,000 respondents.
    Status of the proposed information collection: Extension of a 
currently approved collection for which approval will expire on 
September 30, 1996.

    Authority: Section 3506 of the Paperwork Reduction Act of 1995, 
44 U.S.C. Chapter 35, as amended.

    Dated: June 12, 1996.
Nicolas P. Retsinas,
Assistant Secretary for Housing-Federal Housing Commissioner.
[FR Doc. 96-15860 Filed 6-20-96; 8:45 am]
BILLING CODE 4210-27-M