[Federal Register Volume 78, Number 128 (Wednesday, July 3, 2013)]
[Notices]
[Pages 40312-40313]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2013-15996]


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DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT

[Docket No. FR-5683-N-58]


30-Day Notice of Proposed Information Collection: FHA TOTAL 
(Technology Open to Approved Lenders) Mortgage Scorecard

AGENCY: Office of the Chief Information Officer, HUD.

ACTION: Notice.

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SUMMARY: HUD has submitted the proposed information collection 
requirement described below to the Office of Management and Budget 
(OMB) for review, in accordance with the Paperwork Reduction Act. The 
purpose of this notice is to allow for an additional 30 days of public 
comment.

DATES: Comments Due Date: August 2, 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: Brenda Boldridge, U.S. Department 
of Housing and Urban Development, 451 7th Street SW., Washington, DC 
20410; fax: 202-708-XXXX. Email: [email protected].

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. Persons with hearing 
or speech impairments may access this number through TTY by calling the 
toll-free Federal Relay Service at (800) 877-8339. 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 HUD has 
submitted to OMB a request for approval of the information collection 
described in Section A. The Federal Register notice that solicited 
public comment on the information collection

[[Page 40313]]

for a period of 60 days was published on April 24, 2013.

A. Overview of Information Collection

    Title of Information Collection: FHA TOTAL (Technology Open to 
Approved Lenders) Mortgage Scorecard.
    OMB Approval Number: 2502-0556.
    Type of Request: Revision.
    Form Number: None.
    Description of the need for the information and proposed use: The 
regulation mandating this collection can be found in the Code of 
Federal Regulations at 24 CFR 203.255(b)(5). This information is 
necessary to assure that lenders (and automated underwriting system 
(AUS) vendors) are aware of their obligations regarding use of the 
TOTAL Mortgage Scorecard and are certifying that they will comply with 
all pertinent regulations. It also allows FHA to request reports from 
lenders regarding their use of the scorecard, that they have 
implemented appropriate quality control procedures for using the 
scorecard, and provides an appeal mechanism should FHA take an action 
to terminate a lender's use of the scorecard.
    In order to serve its clients better, HUD has made the following 
non material changes: As part of the FHA Transformation Program, Single 
Family Housing is moving the TOTAL Scorecard to the Mortgage Industry 
Standard Maintenance Organization (MISMO) data standards format. The 
data elements are currently used throughout the industry and are 
therefore listed as industry standard business practice. The attached 
document outlines the benefits of converting the data and the mapping 
phases.
    Both FHA Total Scorecard, 2502-0556 and Informed Consumer Choice 
Notice and Application for FHA Insured Mortgages, 2502-0059 will be 
affected in the two initial transformation phases and Informed Consumer 
Choice Notice and Application for FHA Insured Mortgages, 2502-0059 will 
be affected in the final transformation phase.
    MISMO is a not-for-profit subsidiary of the Mortgage Bankers 
Association (MBA). MISMO's mission is to develop leading technical 
standards for residential and commercial real estate finance industries 
that are grounded in an open process to develop, promote and maintain 
voluntary electronic commerce procedures. The benefits of converting 
data to the MISMO format include:

     Improving data accuracy and consistency
     Allowing for secure and efficient exchange of information
     Increasing data transparency
     Boosting investor confidence in mortgages
    All major lenders and GSEs have already adopted MISMO standards. 
FHA's transformation to the MISMO data standards will ensure 
consistency in the delivery of data from the lenders and GSE's.
    The data elements that are being mapped to MISMO as part of the FHA 
Transformation Program, can be categorized under the three following 
phases; Loan Application, Loan Evaluation, and Loan Closing. The Loan 
Application and Loan Evaluation phase elements are contained in the 
2502-0556 and 2502-0059 OMB data collections. The Loan Closing phase 
elements are contained in the 2502-0059 OMB data collection.
    The first release for the TOTAL Scorecard conversion to MISMO will 
include all existing TOTAL data fields plus some additional fields that 
will be utilized by a Risk & Fraud tool that is currently being tested. 
These additional fields are industry standard and are part of a 
standard lender's loan application. The data elements in the first 
release can be categorized under two of the phases mentioned above. The 
data elements that are currently being collected in the TOTAL Scorecard 
are part of the Loan Application Phase. The data elements that will be 
collected through the Risk & Fraud tool are part of the Loan Evaluation 
Phase.
     Phase Definitions below:
    [cir] Loan Application (Currently collected through the 2502-0556 & 
2502-0059 OMB data collections)--Collected by the lenders as part of 
the application process.

[ssquf] TOTAL data elements
[ssquf] Additional 1003 data elements
[ssquf] Credit Report data elements
    [cir] Loan Evaluation (Currently collected through the 2502--0556 & 
2502--0059 OMB data collections)--Collected by the lender and used for 
scoring, loan underwriting and additional risk & fraud evaluation.
[ssquf] Risk & Fraud Tool data elements
    [cir] Loan Closing (Currently collected through the 2502--0059 OMB 
data collection)--Collected by the lender at loan closing and used to 
evaluate whether a loan is endorsed or not by FHA.
[ssquf] Endorsement data elements
[ssquf] eCase Binder data elements
    Respondents (describe): Business or other for-profit.
    Estimated Number of Respondents: 12,000.
    Estimated Number of Responses: 452.
    Frequency of Response: On Occasion.
    Average Hours per Response: 464.
    Total Estimated Burdens: 908.

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.

C. Authority

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

    Dated: June 27, 2013.
Colette Pollard,
Department Reports Management Officer, Office of the Chief Information 
Officer.
[FR Doc. 2013-15996 Filed 7-2-13; 8:45 am]
BILLING CODE 4210-67-P