[Federal Register Volume 68, Number 150 (Tuesday, August 5, 2003)]
[Notices]
[Pages 46212-46213]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 03-19942]


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DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT

[Docket No. FR-4815-N-52]


Notice of Submission of Proposed Information Collection to OMB: 
Real Estate Settlement Procedures Act (RESPA) Disclosures

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 Real Estate 
Settlement Procedures Act of 1974 requires settlement providers to 
disclose to homebuyers certain 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, a Settlement Statement (the Form HUD-1 or Form 
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. The

[[Page 46213]]

Department is soliciting public comments on the subject proposal.

DATES: Comments Due Date: September 4, 2003.

ADDRESSES: Interested persons are invited to submit comments regarding 
this proposal. Comments should refer to the proposal by name and/or OMB 
approval number (2502-0265) and should be sent to: Lauren Wittenberg, 
OMB Desk Officer, Office of Management and Budget, Room 10235, New 
Executive Office Building, Washington, DC 20503; Fax number (202) 395-
6974; e-mail [email protected].

FOR FURTHER INFORMATION CONTACT: Wayne Eddins, Reports Management 
Officer, AYO, Department of Housing and Urban Development, 451 Seventh 
Street, SW., Washington, DC 20410; e-mail [email protected]; 
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 from 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: Real Estate Settlement Procedures Act (RESPA) 
Disclosures.
    OMB Approval Number: 2502-0265.
    Form Numbers: HUD-1, HUD-1A.
    Description of the Need for the Information and its Proposed Use: 
The Real Estate Settlement Procedures Act of 1974 requires settlement 
providers to disclose to homebuyers certain 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, a Settlement Statement (the 
Form HUD-1 or Form 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/Disclosurure.
    HUD is requesting an extension of the currently approved 
information collection while considering changes that would be 
implemented in a later publication of a rule.
    Respondents: Business or other for-profit.
    Frequency of Submission: On occasion and annually.

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                                                 Number of          Annual         Hours per
                                                respondents       responses         response       Burden hours
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Reporting burden............................          20,000      129,980,000             0.07        9,672,400
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    Total Estimated Burden Hours: 9,672,400.
    Status: Extension of a currently approved collection.

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

    Dated: July 30, 2003.
Wayne Eddins,
Departmental Reports Management Officer, Office of the Chief 
Information Officer.
[FR Doc. 03-19942 Filed 8-4-03; 8:45 am]
BILLING CODE 4210-72-P