[Federal Register Volume 75, Number 77 (Thursday, April 22, 2010)]
[Notices]
[Pages 21021-21022]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2010-9239]


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DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT

[Docket No. FR-5380-N-16]


Notice of Proposed Information Collection: Comment Request; 
Mortgage Insurance Termination, Application for Premium Refund or 
Distributive Share

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: June 21, 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 Jr., 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: Program Contact, Branch Chief, 
Disbursements and Customer Service Branch, Department of Housing and 
Urban Development, 451 7th Street, SW., Washington, DC 20410, telephone 
(202) 402-3545 (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: Mortgage Insurance Termination, Application for 
Premium Refund or Distributive Share.
    OMB Control Number, if applicable: 2502-0414.
    Description of the need for the information and proposed use: 
Mortgage Insurance Termination is used by servicing mortgagees to 
comply with HUD requirements for reporting termination of FHA mortgage 
insurance. This information is used whenever FHA mortgage insurance is 
terminated and no claim for insurance benefits will be filed. This 
information is submitted on via the internet or EDI and is used to 
directly pay eligible homeowners. This condition occurs when the form 
passes the criteria of certain system edits.
    As the result the system generates a disbursement to the eligible 
homeowner for the refund consisting of the unused portion of the paid 
premium. The collection information required is used to update HUD's 
Single Family Insurance System. The billing of mortgage insurance 
premiums is discontinued as a result of the transaction. Without this 
information the premium collection/monitoring function would be 
severely impeded and program data would be unreliable. Under streamline 
III when the form is processed and but does not pass the series of 
edits the system generates in these cases the Application for Premium 
Refund or Distributive Share Payment to the homeowner to be completed 
and returned to HUD for further processing for the refund. In general a 
Premium Refund is the difference between the amount of prepaid premium 
and the amount of the premium that has been earned by HUD up to the 
time the mortgage is terminated.
    Agency form numbers, if applicable: Information is provided 
electronically.

[[Page 21022]]

    Estimation of the total numbers of hours needed to prepare the 
information collection including number of respondents, frequency of 
response, and hours of response: Public reporting burden for this 
collection of information for the Mortgage Insurance Termination is 
estimated to average 5 minutes per response, including the time for 
reviewing instructions, searching existing data sources gathering and 
maintaining the data needed, and completing and reviewing the 
collection of information. The number of respondents is 6,000 and the 
frequency of response is as required and the volume per respondents is 
1 to 40,000 depending on the size of their FHA portfolio.
    Public reporting burden for this collection of information for the 
Application for Premium Refund or Distributive Share is estimated to 
average 15 minutes per response, including the time for reviewing 
instructions, searching existing data sources gathering and maintaining 
the data needed, and completing and reviewing the collection of 
information. The number of respondents is 50,000 and the frequency of 
response is one time and the volume per respondents is 1.
    Status of the proposed information collection: Recurring 
collection.

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

    Dated: April 15, 2010.
Ronald Y. Spraker,
Associate General Deputy Assistant Secretary for Housing.
[FR Doc. 2010-9239 Filed 4-21-10; 8:45 am]
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