[Federal Register Volume 64, Number 101 (Wednesday, May 26, 1999)]
[Notices]
[Pages 28502-28503]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 99-13486]


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DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT

[Docket No. FR-4356-N-20]


Notice of Submission of Proposed Information Collection to OMB 
Single Family Appraisals; Emergency Request

AGENCY: Office of the Assistant Secretary for Housing, HUD.

ACTION: Notice.

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SUMMARY: The proposed information collection requirement described 
below has been submitted to the Office of Management and Budget (OMB) 
for emergency review and approval by June 1, 1999, as required by the 
Paperwork Reduction Act. The Department is soliciting public comments 
on the subject proposal.

DATES: The due date for comments is: June 1, 1999.

ADDRESSES: Interested persons are invited to submit comments regarding 
the proposal. Comments should refer to the proposal by name and should 
be sent to Joseph F. Lackey, Jr., HUD Desk Officer, Office of 
Management and Budget, New Executive Office Building, Washington, DC 
20503.

FOR FURTHER INFORMATION CONTACT: Wayne Eddins, Reports Management 
Officer, Department of Housing and Urban Development, 451 Seventh 
Street, SW, Washington, DC 20410, telephone (202) 708-0050. This is not 
a toll-free number. Copies of available documents submitted to OMB may 
be obtained from Mr. Eddins.

SUPPLEMENTARY INFORMATION: 
    This Notice informs the public that the Department of Housing and 
Urban Development (HUD) has submitted to OMB, for emergency processing, 
an information collection package employing new forms pertaining to 
appraisals of FHA-insured single family properties. This emergency 
processing is essential to provide for the immediate, ongoing, 
responsible administration of FHA-insured single family properties, and 
to ensure that the appraisals are thorough and are conducted by State-
licensed or State-certified appraisers. The success of the FHA 
insurance program and HUD's ability to protect its financial interest 
and that of the taxpayers in these properties begins with selection of 
qualified and knowledgeable appraisers and thorough and independent 
appraisals of properties. It is necessary for HUD to implement this new 
process as soon as possible to reduce risk to the FHA insurance fund by 
providing for more thorough appraisals, conducted by knowledgeable and 
qualified appraisers, and therefore better protect HUD's and the 
taxpayers interest in the insurance fund.
    The Department has submitted the proposal for the collection of 
information, as described below, to OMB for review, as required by the 
Paperwork Reduction Act (44 U.S.C. Chapter 35):
    (1) Title of the information collection proposal:
    ``Appraisals of FHA-insured Single Family Properties''
    (2) Summary of the collection of information:
    (a) Each individual seeking to become an FHA approved appraiser 
must submit Form HUD-92563 ``Roster Appraiser Designation Application 
and a copy of the individual's state licensing and/or state 
certification documentation.
    (b) Each FHA approved appraiser, will conduct appraisals of FHA-
insured, or prospective FHA-insured single family properties, using the 
Uniform Residential Appraisal Report (URAR) and the Valuation Condition 
Sheet (VC Sheet)
    The estimated number of respondents is approximately 15,000. The 
estimated number of appraisals per respondent is estimated to 80 per 
year.
    (3) Description of the need for the information and its 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 properties are thorough and 
independent.
    (4) Description of the likely respondents, including the estimated 
number of likely respondents, and proposed frequency of response to the 
collection of information:
    Eligible appraisers are individuals already State-licensed or 
State-certified as appraisers. The estimated number of respondents for 
all collections pertaining to this request is 15,000. The proposed 
frequency of the response to the collection of information is one-time 
for acceptance to the approval roster list. The application need only 
be submitted once. The frequency of submission of the URAR and the VC 
Sheet depends upon the number of properties appraised. the Department 
estimates 80 per respondent on an annual basis.
    (5) Estimate of the total reporting and recordkeeping burden that 
will result from the collection of information:
    Reporting Burden for the Appraiser Certification:
    Number of respondent: 50,000
    Total burden hours (@ 0.50 hours per response): 25,000
    Reporting Burden for the VC Sheet:

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                                     Number of       Number of     Total annual      Hours per      Total hours
           Description              respondents    responses per     responses       responses       response
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VC Form.........................          15,000              80       1,200,000            0.30         360,000
Homebuyer Summary...............          15,000              80       1,200,000            0.10         120,000
Application for Fee Personnel             50,000               1          50,000            0.50          25,000
 Designation....................
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[[Page 28503]]

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

    Dated: May, 1999.
David S. Cristy,
Director, IRM Policy and Management Division.
[FR Doc. 99-13486 Filed 5-25-99; 8:45 am]
BILLING CODE 4210-27-M