[Federal Register Volume 68, Number 72 (Tuesday, April 15, 2003)]
[Notices]
[Pages 18194-18195]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 03-9203]


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DEPARTMENT OF AGRICULTURE

Rural Housing Service


Notice of Request for Extension of a Currently Approved 
Information Collection

AGENCY: Rural Housing Service, USDA.

ACTION: Proposed collection; Comments requested.

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SUMMARY: In accordance with the Paperwork Reduction Act of 1995, this 
notice announces the Rural Housing Service's intention to request an 
extension for a currently approved information collection in support of 
the program for Rural Housing Loans.

[[Page 18195]]


DATES: Comments on this notice must be received by June 16, 2003 to be 
assured of consideration.

FOR FURTHER INFORMATION CONTACT: Robert E. Keyes, Senior Loan 
Specialist, Single Family Housing Guaranteed Loan Division, Rural 
Housing Service, Stop 0784, 1400 Independence Ave., SW., Washington, DC 
20250-0784; Telephone: (202) 720-1452; E-mail: [email protected].

SUPPLEMENTARY INFORMATION:
    Title: Rural Housing Loans.
    OMB Number: 0575-0078.
    Expiration Date of Approval: September 30, 2003.
    Type of Request: Extension of a currently approved information 
collection.
    Abstract: The Rural Housing Service (RHS) is authorized under 
Section 517 (d) of Title V of the Housing Act of 1949, as amended, to 
issue loan guarantees for the acquisition of new or existing dwellings 
and related facilities to provide decent, safe, and sanitary living 
conditions and other structures in rural areas by eligible recipients.
    The Act also authorizes the Secretary to pay the holder of a 
guaranteed loan the difference between the rate of interest paid by the 
borrower and the market rate of interest.
    The purpose of the program is to assist low and moderate income 
individuals and families acquire or construct a single family residence 
in a rural area with loans made by private lenders. Eligibility for 
this program includes low and moderate income families or persons whose 
income does not exceed 115 percent of the median income for the area, 
as determined by the Secretary.
    The Guaranteed Rural Housing (GRH) program was authorized under the 
Cranston-Gonzalez National Affordable Housing Act, and the Agency 
issued a final rule implementing the GRH program on April 17, 1991, 
before departmental reorganization. The program began as a pilot 
program in 20 States on May 17, 1991. In 1992, the GRH program was 
offered on a nationwide basis. During the implementation process, the 
Agency looked for ways to improve the program and make it more user 
friendly.
    The Agency recognized the need to make its program even more 
compatible with the existing structure of the mortgage lending 
community. On May 22, 1995, the Agency published a final rule 
incorporating the needed changes to encourage greater participation by 
lenders and the secondary market for mortgage loans.
    The information requested by the Agency includes borrower financial 
information such as household income, assets and liabilities, and 
monthly expenses. All information collected is vital for the Agency to 
determine if borrowers qualify for and assure they receive all 
assistance for which they are eligible. Information requested on 
lenders is required to ensure lenders are eligible to participate in 
the GRH program. Lender requirements are in compliance with OMB 
Circular A-129.
    Estimate of Burden: Public reporting burden for this collection of 
information is estimated to average .48 hours per response.
    Respondents: Individuals or households and business or other for-
profits.
    Estimated Number of Respondents: 37,456.
    Estimated Number of Responses per Respondent: 6.7.
    Estimated Number of Responses: 250,756.
    Estimated Total Annual Burden on Respondents: 120,442 hours.
    Copies of this information collection can be obtained from Tracy 
Givelekian, Team Leader, Regulations and Paperwork Management Branch, 
at (202) 692-0039.

Comments

    Comments are invited on: (a) Whether the proposed collection of 
information is necessary for the proper performance of the functions of 
RHS, including whether the information will have practical utility;
    (b) the accuracy of RHS's estimate of the burden of the proposed 
collection of information including the validity of the methodology and 
assumptions used; (c) ways to enhance the quality, utility and clarity 
of the information to be collected; and (d) ways to minimize the burden 
of the collection of information on those who are to respond, including 
through the use of appropriate automated, electronic, mechanical, or 
other technological collection techniques or other forms of information 
technology. Comments may be sent to Tracy Givelekian, Team Leader, 
Regulations and Paperwork Management Branch, U.S. Department of 
Agriculture, Rural Development, STOP 0742, 1400 Independence Ave. SW., 
Washington, DC 20250. All responses to this notice will be summarized 
and included in the request for OMB approval. All comments will also 
become a matter of public record.

    Dated: March 24, 2003.
James E. Selmon III,
Acting Administrator, Rural Housing Service.
[FR Doc. 03-9203 Filed 4-14-03; 8:45 am]
BILLING CODE 3410-XV-P