[Federal Register Volume 73, Number 230 (Friday, November 28, 2008)]
[Notices]
[Page 72502]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: E8-28377]



[[Page 72502]]

=======================================================================
-----------------------------------------------------------------------

DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT

[Docket No. FR-5191-N-44]


Notice of Proposed Information Collection: Comment Request; 
Housing Finance Agency Risk-Sharing Program

AGENCY: Office of the Assistant Secretary for Housing, HUD.

ACTION: Notice.

-----------------------------------------------------------------------

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: January 27, 2009.

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: Lillian Deitzer, Departmental 
Reports Management Officer, QDAM, Department of Housing and Urban 
Development, 451 7th Street, SW., Washington, DC 20410; e-mail 
[email protected] or telephone (202) 402-8048.

FOR FURTHER INFORMATION CONTACT: Joyce Allen, Director, Office of 
Multifamily Development, Department of Housing and Urban Development, 
451 7th Street, SW., Washington, DC 20410, telephone (202) 708-3000 
(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: Housing Finance Agency Risk-Sharing Program.
    OMB Control Number, if applicable: 2502-0500.
    Description of the need for the information and proposed use: 
Section 542 of the Housing and Community Development Act of 1992 
directs the Secretary to implement risk sharing with State and local 
housing finance agencies (HFAs). Under this program, HUD provides full 
mortgage insurance on multifamily housing projects whose loans are 
underwritten, processed, and serviced by HFAs. The HFAs will reimburse 
HUD a certain percentage of any loss under an insured loan depending 
upon the level of risk the HFA contracts to assume.
    The Department requires information collection of loan origination, 
loan closing, loan management, and servicing in accordance with 25 CFR 
part 266 and HUD Handbook 4590.01. This information must be available 
to the Department to assess participating HFAs compliance with program 
regulations and guidelines.
    Agency form numbers, if applicable: None.
    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 estimated number of respondents is 
915, the frequency of responses is annually, semi-annually, and on 
occasion, for a total of 14,808 total annual responses. The estimated 
time to prepare the information collection varies from 30 minutes to 35 
hours, for a total annual burden hour of 28,919.
    Status of the proposed information collection: This is a 
reinstatement, with change, of a previously approved collection for 
which approval has expired.

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

    Dated: November 21, 2008.
Ronald Y. Spraker,
Acting General Deputy Assistant Secretary for Housing--Deputy Federal 
Housing Commissioner.
[FR Doc. E8-28377 Filed 11-26-08; 8:45 am]
BILLING CODE 4210-67-P