[Federal Register Volume 67, Number 40 (Thursday, February 28, 2002)]
[Notices]
[Pages 9315-9316]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 02-4716]


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DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT

[Docket No. FR-4739-N-04]


Notice of Proposed Information Collection: Comment Request; Real 
Estate Settlement Procedures Act (RESPA) Disclosures

AGENCY: Office of the Assistant Secretary for Housing--Federal Housing 
Commissioner, 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: April 29, 2002.

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 8001, Washington, DC 20410.

FOR FURTHER INFORMATION CONTACT: Ivy M. Jackson, Acting Director, 
Interstate Land Sales and RESPA Division, Department of Housing and 
Urban Development, 451 7th Street, SW., Washington, DC 20410, telephone 
(202) 708-0501 (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 reviews, 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: Real Estate Settlement Procedures Act (RESPA) 
Disclosures.
    OMB Control Number, if applicable: 2502-0265.
    Description of the need for the information and proposed use: The 
Real Estate Settlement Act requires settlement providers to give 
homebuyers certain disclosure information at or before settlement and 
pursuant to the servicing of the loan and escrow account. This includes 
a Special Information Booklet, a Good Faith Estimate, and Initial 
Servicing Disclosure, the Form HUD-1 or HUD-1A, and when applicable, an 
Initial Escrow Account Statement, an Annual Escrow Account Statement, 
an Escrow Account Disbursement Disclosure, an Affiliated Business 
Arrangement Disclosure, and a Servicing/Transfer Disclosure. This 
information collection combines six previously approved collections 
under OMB control number 2502-0265. The OMB control numbers of the 
previous information collections are 2502-0265, 2502-0458, 2502-0491, 
2502-0501, 2502-0516, and 2502-0517.
    Agency form numbers, if applicable: HUD-1 or HUD-1A.
    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 total number of annual hours 
needed to prepare the information is 6,500,000; the number of 
respondents is estimated to be 20,000 generating approximately 
105,300,000 responses annually; the frequency of response is annually 
and also third

[[Page 9316]]

party disclosures; and the estimated time per response varies from 2 
minutes to 15 minutes.
    Status of the proposed information collection: Reinstatement, with 
change, of previously approved collections for which approval have 
expired.

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

    Dated: February 19, 2002.
John C. Weicher,
Assistant Secretary for Housing--Federal Housing Commissioner.
[FR Doc. 02-4716 Filed 2-27-02; 8:45 am]
BILLING CODE 4210-27-M