[Federal Register Volume 62, Number 165 (Tuesday, August 26, 1997)]
[Notices]
[Pages 45265-45266]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 97-22607]


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DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT

[Docket No. FR-4263-N-11]


Proposed Collection: Comment Request

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: October 27, 1997.

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

FOR FURTHER INFORMATION CONTACT:
Ivy Jackson, Telephone number (202) 708-4560 (this is not a toll-free 
number) for copies of the proposed forms and other available documents.
    For hearing- and speech-impaired persons, this number may be 
accessed via TTY (text telephone) by calling the Federal Information 
Relay Service at 1-800-877-8339.

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).
    This 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 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; (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: Section 6 Model Disclosure Statements.
    OMB Control Number, if applicable: 2502-0458.
    Description of the need for the information and proposed use: The 
initial disclosure statement discloses to consumers about the 
probability of whether their loan will be sold. The transfer disclosure 
is given when the loan servicing is sold and/or transferred to another 
entity and provides important information concerning the transfer, such 
as, the name and address of the new servicer and who to contact if 
questions are raised.
    Agency form numbers, if applicable: Not applicable.
    Members of affected public: Lenders who originate loans and/or who 
service loans.
    Estimation of the total numbers of hours needed to prepare the 
information collection including number of respondents, frequency of 
response, and hours of response:

                                        Section 6.--Servicing Disclosures                                       
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                                               Responses                                                        
     Information collection       Number of       per       Total annual     Hour per   Total hours   Regulatory
                                 respondents   respondent     responses      response                 references
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Initial Disclosure.............       20,000          212       4,240,000         .033      139,920      3500.21
Transfer Disclosure............       20,000        2,250      45,000,000         .033    1,485,000      3500.21
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    Total annual burden........     * 20,000        2,462      49,240,000         .033    1,624,920  ...........
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* Same 20,000 lenders give both disclosures, not additional.                                                    

    Status of the proposed information collection: Extension of a 
previously approved collection.

    Authority: 44 U.S.C. 3506; 42 U.S.C. 3535(d).

    Dated: August 20, 1997.
Nicolas P. Retsinas,
Assistant Secretary for Housing-Federal Housing Commissioner.
[FR Doc. 97-22607 Filed 8-25-97; 8:45 am]
BILLING CODE 4210-27-M