[Federal Register Volume 65, Number 174 (Thursday, September 7, 2000)]
[Notices]
[Page 54294]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 00-22982]



[[Page 54294]]

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DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT

[Docket No. FR-4565-N-21]


Notice of Proposed Information Collection: Comment Request; 
Request for Final Endorsement of Credit Instrument

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: November 6, 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 Building, Room 8202, Washington, DC 20410, telephone 
(202) 708-5221 (this is not a toll-free number) for copies of the 
proposed forms and other available information.

FOR FURTHER INFORMATION CONTACT: Michael L. McCullough, Department of 
Housing and Urban Development, 451 7th Street, SW., Washington, DC 
20410, telephone number (202) 708-3000, (this is not a toll-free 
number) for copies of the proposed forms and other available 
information.

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: Request for Final Endorsement of Credit 
Instrument.
    OMB Control Number, if applicable: 2502-0016.
    Description of the need for the information and proposed use: 24 
CFR 200.100--The credit instrument shall be initially and finally 
endorsed simultaneously for insurance pursuant to a firm commitment to 
insure upon completion. Advances of construction funds are to be 
insured pursuant to a firm commitment of insured advances, initial 
endorsement of the credit instrument shall occur before disbursement of 
any mortgage proceeds. After all advances of mortgage proceeds, terms, 
and conditions of the firm commitment are met to the satisfaction of 
the Department, HUD, will again endorse the credit instrument. Further, 
the mortgagor must certify at final endorsement of the loan for 
mortgage insurance that the property covered by the mortgage is free 
and clear of all liens other than such mortgage, and that there will be 
no other outstanding unpaid obligations contracted in connection with 
the mortgage transaction.
    Form HUD-92023 is to request final endorsement of the credit 
instrument by the Department. It is completed by the mortgagee to 
indicate the schedule of advances made on the project and the final 
advance to be disbursed immediately upon final endorsement. The reverse 
side of the form provides for certifications by the mortgagor and the 
general contractor that there will not be any outstanding unpaid 
obligations following receipt of the final advance of mortgage 
proceeds, except such obligations as may be approved by the 
Commissioner as to term, form and amount.
    Agency form number, if applicable: HUD-92023.
    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 estimated number of respondents is 
465, frequency of responses is 1, total annual burden hours requested 
are 465.
    Status of the proposed information collection: Reinstatement 
without change.

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

    Dated: August 30, 2000.
William C. Apgar,
Assistant Secretary for Housing-Federal Housing Commissioner.
[FR Doc. 00-22982 Filed 9-6-00; 8:45 am]
BILLING CODE 4210-27-M