[Federal Register Volume 77, Number 38 (Monday, February 27, 2012)]
[Notices]
[Pages 11563-11564]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2012-4525]


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DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT

[Docket No. FR-5603-C-11]


Notice of Submission of Proposed Information Collection to OMB; 
Local Appeals to Single-Family Mortgage Limits

AGENCY: Office of the Chief Information Officer, HUD.

ACTION: Notice; correction.

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SUMMARY: On February 14, 2012, at 77 FR 8276, HUD published a 
information collection notice.

Correction

    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.
    Any interested party may submit a request for the mortgage limits 
to be increased in a particular area if they believe that the present 
limit does not accurately reflect the higher sales prices in that area. 
Any request for an increase must be accompanied by sufficient housing 
sales price data to justify higher limits. Typically, this data 
includes housing sales data extracted from multiple listing services 
(MLS) that includes all or nearly all one-family and condominium sales 
in the area for a specified period of time, deleting all non-arms 
length sales and sales involving two or more family units. These 
requests are usually submitted by housing industry groups, such as 
homebuilders, realtors, and mortgage lenders. Most often, the housing 
sales

[[Page 11564]]

price data is necessary to support a request for a higher mortgage 
limit that may be obtained from existing local industry sources, such 
as the real estate multiple listing services. The request for an 
increase to the mortgage limit is required to obtain benefits.

DATES: Comments Due Date: March 28, 2012.

ADDRESSES: Interested persons are invited to submit comments regarding 
this proposal. Comments should refer to the proposal by name and/or OMB 
approval Number (2502-0302) and should be sent to: HUD Desk Officer, 
Office of Management and Budget, New Executive Office Building, 
Washington, DC 20503; fax: 202-395-5806. Email: [email protected].

FOR FURTHER INFORMATION CONTACT: Colette Pollard, Reports Management 
Officer, QDAM, Department of Housing and Urban Development, 451 Seventh 
Street SW., Washington, DC 20410; email Colette Pollard at 
[email protected]. or telephone (202) 402-3400. This is not a 
toll-free number. Copies of available documents submitted to OMB may be 
obtained from Ms. Pollard.

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: Local Appeals to Single-Family Mortgage Limits.
    OMB Approval Number: 2502-0302.
    Form Numbers: None.
    Description of the Need for the Information and Its Proposed Use: 
Any interested party may submit a request for the mortgage limits to be 
increased in a particular area if they believe that the present limit 
does not accurately reflect the higher sales prices in that area. Any 
request for an increase must be accompanied by sufficient housing sales 
price data to justify higher limits. Typically, this data includes 
housing sales data extracted from multiple listing services (MLS) that 
includes all or nearly all one-family and condominium sales in the area 
for a specified period of time, deleting all non-arms length sales and 
sales involving two or more family units. These requests are usually 
submitted by housing industry groups, such as homebuilders, realtors, 
and mortgage lenders. Most often, the housing sales price data is 
necessary to support a request for a higher mortgage limit that may be 
obtained from existing local industry sources, such as the real estate 
multiple listing services. The request for an increase to the mortgage 
limit is required to obtain benefits.
    Frequency of Submission: On occasion.
    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 burden hours is 119. The 
number of respondents is 17, which is based on the actual number of 
requests received since 2008. The number of responses is 17 and the 
frequency of response is one per appeal. The burden hour per response 
is 7. The Federal government burden has reduced over the past 3 years. 
In 2010, only one appeal was received but rejected due to HUD having 
sufficient data in support of loan limit. In 2011, no appeals were 
received.
    Total Estimated Burden Hours: 119.
    Status: Extension without change of a currently approved 
collection.

    Authority:  Section 3507 of the Paperwork Reduction Act of 1995, 
44 U.S.C. 35, as amended.

    Dated: February 21, 2012.
Colette Pollard,
Departmental Reports Management Officer, Office of the Chief 
Information Officer.
[FR Doc. 2012-4525 Filed 2-24-12; 8:45 am]
BILLING CODE 4210-67-P