[Federal Register Volume 75, Number 37 (Thursday, February 25, 2010)]
[Notices]
[Page 8730]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2010-3759]


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DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT

[Docket No. FR-5380-N-09]


Notice of Proposed Information Collection: Comment Request; FHA- 
Disclosure of Adjustable Rate Mortgages (ARMs) Rates

AGENCY: Office of the Assistant Secretary for Housing, 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: April 26, 2010.

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: Leroy McKinney, 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 or the number for 
the Federal Information Relay Service (1-800-877-8339).

FOR FURTHER INFORMATION CONTACT: Joanne Kuzma, Director, Office of 
Single Family Program Development, Department of Housing and Urban 
Development, 451 7th Street, SW., Washington, DC 20410, telephone (202) 
708-2121 (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: Disclosure of Adjustable Rate Mortgages (ARMs) 
Rates.
    OMB Control Number, if applicable: 2502-0322.
    Description of the need for the information and proposed use: 
Mortgagees must make available to the mortgagor, at the time of loan 
application, a written explanation of the features of an adjustable-
rate mortgage ARM consistent with the disclosure requirements 
applicable to variable rate mortgages secured by a principal dwelling 
under TILA. Regulation Z,'' at 15 U.S.C. 1601, 12 CFR 226.18.
    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 number of annual burden hours is 
8,065. The number of respondents is 12,670, the number of responses is 
161,318, the frequency of response is on occasion, and the burden hour 
per response is .05.
    Status of the proposed information collection: This is an extension 
of a currently approved collection.

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

    Dated: February 19, 2010.
Ronald Y. Spraker,
Associate General Deputy Assistant Secretary for Housing.
[FR Doc. 2010-3759 Filed 2-24-10; 8:45 am]
BILLING CODE 4210-67-P