[Federal Register Volume 68, Number 96 (Monday, May 19, 2003)]
[Notices]
[Page 27096]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 03-12374]


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DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT

[Docket No. FR-4920-N-25]


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: July 18, 2003.

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 8003, Washington, DC 20410 or 
[email protected].

FOR FURTHER INFORMATION CONTACT: Ivy Jackson, Acting Director, Office 
of Interstate Land Sales and Real Estate Settlement Procedures Act, 
Department of Housing and Urban Development, 451 7th Street SW., 
Washington, DC 20410, telephone (202) 708-0502 (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: 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 Procedures Act requires settlement service 
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, an 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.
    Agency form numbers, if applicable: HUD-1 and 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 burden 
hours needed to prepare the information is 9,672,400; the number of 
respondents is estimated to be 20,000 generating approximately 
129,980,000 responses annually; these are third party disclosures, the 
frequency of response is annually for one disclosure and as required 
for others; and the estimated time per response varies from 2 minutes 
to 15 minutes.
    Status of the proposed information collection: Revision of a 
currently approved collection.

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

    Dated: May 9, 2003.
Sean G. Cassidy,
General Deputy Assistant Secretary for Housing--Deputy Federal Housing 
Commissioner.
[FR Doc. 03-12374 Filed 5-16-03; 8:45 am]
BILLING CODE 4210-27-M