[Federal Register Volume 65, Number 180 (Friday, September 15, 2000)]
[Notices]
[Pages 55983-55984]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 00-23719]


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DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT

[Docket No. FR-4565-N-24]


Notice of Proposed Information Collection: Comment Request; 
Mortgage Insurance Termination Application for Premium Refund or 
Distributive Share

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 comment on the subject proposal.

DATES: Comments Due Date: November 14, 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: Silas C. Vaughn, Single Family 
Insurance Operations Division, Department of Housing and Urban 
Development, 451 7th Street, SW, Washington, DC 20410, telephone (202) 
708-2596, Ext. 3445 (this is not a toll free number) for information on 
form HUD-27050-A. Lillie A. Watson, Single Family Insurance Operations 
Division, Department of Housing and Urban Development, 451 7th Street, 
SW, Washington, DC 20410, telephone (202) 708-2596, Ext. 3305 (this is 
not a toll free number) for information on form HUD-27050-B.

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

[[Page 55984]]

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: Mortgage Insurance Termination--HUD-27050-A; 
Application for Premium Refund or Distributive Share Payment--HUD-
27050-B.
    OMB Control Number, if applicable: 2502-0414.
    Description of the need of the information and proposed use: The 
information collection for the Mortgage Insurance Termination, form 
HUD-27050-A, is used by servicing mortgages to comply with HUD 
requirements for reporting the termination of FHA mortgage insurance. 
This information is used whenever FHA mortgage insurance is terminated 
and no claim for insurance benefits will be filed. Due to technological 
advances this information is now submitted electronically to HUD from 
lenders via Electronic Date Interchange (EDI) and via the Internet 
through FHA Connection. The information collection is still needed 
although the hardcopy form is not used. Under the new streamline III 
program, when the information is submitted it can be used to directly 
pay eligible homeowners. This condition occurs when the data passes the 
criteria of certain system edits. As a result, the system generates a 
disbursement to the eligible homeowners for a refund consisting of the 
unused portion of the paid premium. The information collection required 
is used to update HUD's Single Family Insurance System. The billing of 
mortgage insurance premiums is discontinued as a result of the 
transaction. Without this information the premium collection/monitoring 
function would be severely impeded and program data would be 
unreliable. Under streamline III, when the information is processed but 
does not pass the series of edits, the system generates a form HUD-
27050-B to the homeowners to be completed and returned to HUD for 
further processing for a premium refund or distributive share. In 
general, a premium refund is the difference between the amount of 
prepaid premium and the amount of the premium that has been earned by 
HUD up to the time the mortgage is terminated. A distributive share 
payment is a dividend of the Mutual Mortgage Insurance Fund operated by 
HUD/FHA and may be payable when FHA insurance is terminated depending 
on the age of the mortgage and other eligibility conditions.
    Agency form numbers, if applicable: HUD-27050-A, HUD-27050-B.
    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 for the HUD-27050-A is estimated to average 5 
minutes per response, including the time for reviewing the 
instructions, searching existing data sources, gathering and 
maintaining the data needed, completing and reviewing the collection of 
information, and transmitting the information electronically via EDI or 
FHA Connection. The number of respondents is 9,500, the frequency of 
response is on occasion, and the volume per respondents is 1 to 40,000 
depending on the size of their FHA portfolio. The public reporting 
burden for this collection of information for the HUD-27050-B is 
estimated to average 15 minutes per response, including the time for 
reviewing the instructions, searching existing data sources, gathering 
and maintaining the data needed, and completing and reviewing the 
collection of information. The number of respondents is 382,000, the 
frequency of response is one time, and the volume per respondents is 1.
    Status of the proposed information collection: Reinstatement, 
without change, or a previously approved information collection.

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

    Dated: September 8, 2000.
William C. Apgar,
Assistant Secretary for Housing-Federal Housing Commissioner.
[FR Doc. 00-23719 Filed 9-14-00; 8:45 am]
BILLING CODE 4210-27-M