[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]


=======================================================================
-----------------------------------------------------------------------

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.

-----------------------------------------------------------------------

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