[Federal Register Volume 71, Number 124 (Wednesday, June 28, 2006)]
[Notices]
[Pages 36753-36754]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: E6-10147]


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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, Rural Development, 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.

DATES: Effective Date: Comments on this notice must be received by 
August 28, 2006 to be assured of consideration.

FOR FURTHER INFORMATION CONTACT: Debra A. Terrell, Senior Loan 
Specialist, Single Family Housing Guaranteed Loan Division, Rural 
Development, United States Department of Agriculture, Mail Stop 0784, 
1400 Independence Ave., SW., Washington, DC 20250-0784, Telephone (202) 
720-0099 or (918) 534-3254, E-mail [email protected].

SUPPLEMENTARY INFORMATION:
    Title: 7 CFR 1980-D, Rural Housing Loans.
    OMB Number: 0575-0078.
    Expiration Date of Approval: December 31, 2006.
    Type of Request: Extension of a currently approved information 
collection.

Overview

    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

[[Page 36754]]

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 Single Family Housing Guaranteed Loan Program (SFHGLP) was 
authorized under the Cranston-Gonzalez National Affordable Housing Act 
and the Agency issued a final rule implementing the SFHGLP on April 17, 
1991, before departmental reorganization. The program began as a pilot 
program in 20 States on May 17, 1991. In 1992, the SFHGLP 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 the 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 SFHGLP. 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 .44 hours per response.
    Respondents: Individuals or households and business or other for-
profits.
    Estimated Number of Respondents: 27,650.
    Estimated Number of Responses per Respondent: 10.82.
    Estimated Number of Responses: 299,120.
    Estimated Total Annual Burden on Respondents: 132,263 hours.
    Copies of this information collection can be obtained from Renita 
Bolden, Management Analyst, Regulations and Paperwork Management 
Branch, at (202) 692-0035.

Comments

    Comments are invited on: (a) Whether the proposed collection of 
information is necessary for the proper performance of the functions of 
HCFP, 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 Renita Bolden, Management Analyst, 
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: June 21, 2006.
Russell T. Davis,
Administrator, Rural Housing Service.
 [FR Doc. E6-10147 Filed 6-27-06; 8:45 am]
BILLING CODE 3410-XV-P