[Federal Register Volume 66, Number 90 (Wednesday, May 9, 2001)]
[Notices]
[Page 23722]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 01-11696]


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DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT

[Docket No. FR-4650-N-33]


Notice of Submission of Proposed Information Collection to OMB; 
Home Equity Conversion Mortgage (HECM) Program; Insurance for Mortgages 
to Refinance Existing HECMs (FR-4667)

AGENCY: Office of the Chief Information Officer, 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 review, as required by the Paperwork Reduction Act. The Department 
is soliciting public comments on the subject proposal.

DATES: Comments Due Date: June 8, 2001.

ADDRESSES: Interested persons are invited to submit comments regarding 
this proposal. Comments should refer to the proposal by name and/or OMB 
approval number and should be sent to: Joseph F. Lackey, Jr., OMB Desk 
Officer, Office of Management and Budget, Room 10235, New Executive 
Office Building, Washington, DC 20503.

FOR FURTHER INFORMATION CONTACT: Wayne Eddins, Reports Management 
Officer, Q, Department of Housing and Urban Development, 451 Seventh 
Street, Southwest, Washington, DC 20410; e-mail Wayne_Eddins_HUD.gov; 
telephone (202) 708-2374. This is not a toll-free number. Copies of the 
proposed forms and other available documents submitted to OMB may be 
obtained form Mr. Eddins.

SUPPLEMENTARY INFORMATION: 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). The Notice lists the following information: (1) The title of the 
information collection proposal; (2) the office of the agency to 
collect the information; (3) the OMB approval number, if applicable; 
(4) the description of the need for the information and its proposed 
use; (5) the agency form number, if applicable; (6) what members of the 
public will be affected by the proposal; (7) how frequently information 
submissions will be required; (8) an estimate of the total number of 
hours needed to prepare the information submission including number of 
respondents, frequency of response, and hours of response; (9) whether 
the proposal is new, an extension, reinstatement, or revision of an 
information collection requirement; and (10) the name and telephone 
number of an agency official familiar with the proposal and of the OMB 
Desk Officer for the Department. This Notice also lists the following 
information:
    Title of Proposal: Home Equity Conversion Mortgage (HECM) Program; 
Insurance for Mortgages to Refinance Existing HECMs (FR-4667).
    OMB Approval Number: 2502-XXXX.
    Form Numbers: None.
    Description of the Need for the Information and Its Proposed Use: 
HUD provides mortgages insurance for the refinancing of an existing 
HECM, and establishes several requirements concerning such refinancing. 
Regulatory provision requires that the mortgagee provide the 
mortgagors, a good faith estimate of the total cost of the refinancing 
and the increase in the mortgagor's principal limit as measured by the 
estimated initial principal limit on the mortgage to be insured less 
the current principal limit on the HECM that is being refinanced.
    Respondents: Individual or households.
    Frequency of Submission: On occasion.
    Reporting Burden:

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                                     Number of           Frequency of          Hours per
                                    respondents     x      response      x      response      =   Burden  hours
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Application.....................           4,000                    1                    2                2,000
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    Total Estimated Burden Hours: 2,000.
    Status: New Collection.

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

    Dated: May 3, 2001.
Donna L. Eden,
Director, Office of Investments Strategies, Policy and Management.
[FR Doc. 01-11696 Filed 5-8-01; 8:45 am]
BILLING CODE 4210-01-M