[Federal Register Volume 85, Number 19 (Wednesday, January 29, 2020)]
[Notices]
[Pages 5224-5225]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-01562]


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DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT

[Docket No. FR-7024-N-04]


30-Day Notice of Proposed Information Collection: Mortgage 
Insurance Termination Application for Premium Refund or Distributive 
Share Payment; OMB# 2502-0414

AGENCY: Office of the Assistant Secretary for Housing--Federal Housing 
Commissioner, HUD.

ACTION: Notice.

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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.

DATES: Comments Due Date: February 28, 2020.

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 and Urban Development, 
451 7th Street SW, Room 4176, Washington, DC 20410-5000; telephone 202-
402-3400 (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. The Federal Register notice for the 60 days was published 
October 31, 2019 at 84 FR 58408.

A. Overview of Information Collection

    Title of Information Collection: Mortgage Insurance Termination

[[Page 5225]]

Application for Premium Refund or Distributive Share Payment.
    OMB Approval Number: OMB-2502-0414.
    Type of Request: Revision of a currently approved collection.
    Form Number: Application for Premium Refund or Distributive Share 
Form 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 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.

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                                                                                                         Total
          Information collection               Number of     Frequency of    Total  annual  Hours per    annual
                                              respondents      response        responses     response    hours
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Mortgage Insurance Termination--HUD-27050-           6,000          Varies         675,000        .08     54,000
 A........................................
Application for Premium Refund or                   20,000               1          20,000        .25      5,000
 Distributive Share--HUD-27050-B..........
rrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrr
    Totals................................          26,000  ..............         695,000  .........     59,000
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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

    Section 2 of the Paperwork Reduction Act of 1995, 44 U.S.C. 3507.

    Dated: January 17, 2020.
Colette Pollard,
Department Reports Management Officer, Office of the Chief Information 
Officer.
[FR Doc. 2020-01562 Filed 1-28-20; 8:45 am]
BILLING CODE 4210-67-P