[Federal Register Volume 78, Number 116 (Monday, June 17, 2013)]
[Notices]
[Pages 36229-36230]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2013-14341]


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

DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT

[Docket No. FR-5687-N-28]


60-Day Notice of Proposed Information Collection: Mortgage 
Insurance Termination, Application for Premium Refund or Distributive 
Share

AGENCY: Single Family Insurance Operations Division, Office of the FHA 
Comptroller, HUD.

ACTION: Notice.

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

SUMMARY: HUD is seeking approval from the Office of Management and 
Budget (OMB) for the information collection described below. In 
accordance with the Paperwork Reduction Act, HUD is requesting comment 
from all interested parties on the proposed collection of information. 
The purpose of this notice is to allow for 60 days of public comment.

DATES: Comments Due Date: August 16, 2013.

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: Colette Pollard, Reports 
Management Officer, QDAM, Department of Housing

[[Page 36230]]

and Urban Development, 451 7th Street SW., Room 4176, Washington, DC 
20410-5000; telephone 202-402-5564 (this is not a toll-free number) or 
email at [email protected] for a copy of the proposed forms or 
other available information. Persons with hearing or speech impairments 
may access this number through TTY by calling the toll-free Federal 
Relay Service at (800) 877-8339.

FOR FURTHER INFORMATION CONTACT: Colette Pollard, Reports Management 
Officer, QDAM, Department of Housing and Urban Development, 451 7th 
Street SW., Washington, DC 20410; email Colette Pollard at 
[email protected] or telephone 202-402-3400. This is not a toll-
free number. Persons with hearing or speech impairments may access this 
number through TTY by calling the toll-free Federal Relay Service at 
(800) 877-8339.
    Copies of available documents submitted to OMB may be obtained from 
Ms. Pollard.

SUPPLEMENTARY INFORMATION: This notice informs the public that HUD is 
seeking approval from OMB for the information collection described in 
Section A.

A. Overview of Information Collection

    Title of Information Collection: Mortgage Insurance Termination, 
Application for Premium Refund or Distributive Share.
    OMB Approval Number: 2502-0414.
    Type of Request: Extension of a currently approved collection.
    Form Number: HUD-27050-B.
    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 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 father 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.
    Respondents (i.e. affected public): Individuals or Households.
    Estimated Number of Respondents: 56,000.
    Estimated Number of Responses: 725,000.
    Frequency of Response: On occasion.
    Average Hours per Response: 5 minutes per response.
    Total Estimated Burdens: 66,500.

    Note: Preparer of this notice may substitute the chart for 
everything beginning with estimated number of respondents above:


--------------------------------------------------------------------------------------------------------------------------------------------------------
                                      Number of                            Responses per    Burden hour    Annual burden    Hourly cost
      Information collection         respondents   Frequency of response       annum       per response        hours       per response     Annual cost
--------------------------------------------------------------------------------------------------------------------------------------------------------
Mortgage Insurance Termination...           6,000  Varies...............         675,000             .08          54,000          $20.00      $1,080,000
HUD-27050-B......................          50,000  1....................          50,000             .25          12,500           35.00         437,500
                                  ----------------------------------------------------------------------------------------------------------------------
    Total........................          56,000  .....................         725,000  ..............          66,500  ..............       1,517,500
--------------------------------------------------------------------------------------------------------------------------------------------------------

B. Solicitation of Public Comment

    This notice is soliciting comments from members of the public and 
affected parties concerning the collection of information described in 
Section A on the following:
    (1) 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) The accuracy of the agency's estimate of the burden of the 
proposed collection of information;
    (3) Ways to enhance the quality, utility, and clarity of the 
information to be collected; and
    (4) Ways to 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.
    HUD encourages interested parties to submit comment in response to 
these questions.

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

    Dated: June 11, 2013.
Laura M. Marin,
Acting General Deputy Assistant Secretary for Housing--Acting General 
Deputy Federal Housing Commissioner.
[FR Doc. 2013-14341 Filed 6-14-13; 8:45 am]
BILLING CODE 4210-67-P