[Federal Register Volume 65, Number 112 (Friday, June 9, 2000)]
[Notices]
[Pages 36703-36704]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 00-14522]


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DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT

[Docket No. FR-4565-N-16]


Notice of Proposed Information Collection: Comment Request; 
Single Family Premium Collection Subsystem--Upfront

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: August 8, 2000.

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 Plaza Building, Room 8202, Washington, DC 20410.

FOR FURTHER INFORMATION CONTACT: Natalia Yee, Single Family Insurance 
Operations Division, Department of Housing and Urban Development, 451 
7th Street, SW., Washington, DC 20410, telephone (202) 708-1858, Ext. 
3506 (this is not a toll free number) for information on the Single 
Family Premium Collection Subsystem-Upfront (formerly form HUD-27001, 
Transmittal of Upfront Mortgage Insurance Premium).

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 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: Single Family Premium Collection Subsystem--
Upfront.
    OMB Control Number, if applicable: 2502-0423.
    Description of the need for the information and proposed use: The 
Single Family Premium Collection Subsystem-Upfront (SFPCS-U) replaced 
the One-Time Mortgage Insurance Premium System 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 form HUD-27001, Transmittal of Upfront Mortgage Insurance Premium, 
is now obsolete. However, the information collection is still in 
effect. SFPCS-U strengthens 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 improves data 
integrity for the Single Family Mortgage Insurance Program. FHA 
approved lenders use versions of Mellon's Telecash and HUD Mortgage 
Premium Connection (HUD-MPC) software for all transmissions with SFPCS-
U. The authority for this collection of information is specified in 24 
CFR 203.283 and 24 CFR 203.284. The collection of information is also 
used in calculating refunds due to former FHA mortgagors when they 
apply for homeowner refunds of the unearned portion of the mortgage 
insurance premium, 24 CFR 203.283, as appropriate. 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 to remit the upfront premium through SFPCS-U to obtain 
mortgage insurance for the homeowner.
    Agency form numbers, if applicable: Not applicable.
    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 public reporting burden for this 
collection of information is estimated to average 0.5 hours per 
response, including the time for reviewing instruction, searching 
existing data sources, gathering and maintaining the data needed, and 
completing and reviewing the collecting of information. The burden of 
completing the form will be eliminated.

[[Page 36704]]

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 mortgage 
closing. Since remittances are made through the Automated 
Clearinghouse, the upfront remittance is submitted electronically and 
there is no paperwork to complete and mail in.
    Status of the proposed information collection: Reinstatement 
without change of a previously approved collection.

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

    Dated: May 30, 2000.
William C. Apgar,
Assistant Secretary for Housing-Federal Housing Commissioner.
[FR Doc. 00-14522 Filed 6-8-00; 8:45 am]
BILLING CODE 4210-27-M