[Federal Register Volume 71, Number 180 (Monday, September 18, 2006)]
[Notices]
[Page 54681]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: E6-15391]


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DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT

[Docket No. FR-5037-N-62]


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 Department 
is soliciting public comments on the subject proposal.
    The Real Estate Settlement Procedures Act of 1974 (RESPA) requires 
settlement providers to give homebuyers certain disclosure information 
at and 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 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.

DATES: Comments Due Date: October 18, 2006.

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: HUD Desk Officer, 
Office of Management and Budget, New Executive Office Building, 
Washington, DC 20503; fax: 202-395-6974.

FOR FURTHER INFORMATION CONTACT: Lillian Deitzer, Reports Management 
Officer, QDAM, Department of Housing and Urban Development, 451 Seventh 
Street, SW., Washington, DC 20410; e-mail [email protected] 
or telephone (202) 708-2374. This is not a toll-free number. Copies of 
available documents submitted to OMB may be obtained from Ms. Deitzer 
or from HUD's Web site at http://hlannwp031.hud.gov/po/i/icbts/collectionsearch.cfm.

SUPPLEMENTARY INFORMATION: This notice informs the public that the 
Department of Housing and Urban Development has submitted to OMB a 
request for approval of the information collection described below. 
This notice is soliciting comments from members of the public and 
affecting agencies concerning the proposed collection of information 
to: (1) Evaluate whether the proposed collection of information 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 through 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 Approval Number: 2502-0265.
    Form Numbers: HUD-1 and HUD-1A.
    Description of the Need for the Information and Its Proposed Use: 
The Real Estate Settlement Procedures Act of 1974 (RESPA) require 
settlement providers to give homebuyers certain disclosure information 
at and before settlement, and pursuant to the servicing of the loan and 
escrow account.
    Frequency of Submission: Annually.

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                                       Number of          Annual              Hours per
                                      respondents       responses      x       response      =     Burden hours
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Reporting Burden..................          20,000      154,646,000   ...             .07   ...      11,238,680
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    Total Estimated Burden Hours: 11,238,680
    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: September 6, 2006.
Lillian L. Deitzer,
Department Paperwork Reduction Act Officer, Office of the Chief 
Information Officer.
 [FR Doc. E6-15391 Filed 9-15-06; 8:45 am]
BILLING CODE 4210-67-P