[Federal Register Volume 87, Number 169 (Thursday, September 1, 2022)]
[Notices]
[Page 53710]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2022-18893]


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 Notices
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  Federal Register / Vol. 87, No. 169 / Thursday, September 1, 2022 / 
Notices  

[[Page 53710]]



DEPARTMENT OF AGRICULTURE


Submission for OMB Review; Notice of Request for Emergency 
Approval

    In compliance with the requirements of the Paperwork Reduction Act 
of 1995 (PRA), the Department of Agriculture (USDA) has submitted a 
request to the Office of Management and Budget (OMB) for a six-month 
emergency approval of the following information collection: ICR 0575-
NEW, American Rescue Plan Act, 2021 (ARPA)--7 CFR PART 3550, ``DIRECT 
SINGLE FAMILY HOUSING SECTIONS 502 and 504 LOAN PROGRAMS. The requested 
approval would enable the implementation of this program to begin to 
extend funds available to borrowers to refinancing loans with a lower 
interest rate and extended terms.

Rural Housing Service

    Title: American Rescue Plan Act, 2021 (ARPA)--7 CFR PART 3550, 
``DIRECT SINGLE FAMILY HOUSING SECTIONS 502 and 504 LOAN PROGRAMS.
    OMB Control Number: 0575-NEW.
    Summary of Collection: The Rural Housing Service is requesting 
emergency clearance approval for this information collection due to the 
need to effectively implement the program as quickly as possible to 
administer The American Rescue Plan's (ARPA) Act of 2021 (Pub. L. 117-
2; H.R. 1319, section 3207) additional $39 million of Budget Authority 
(BA) for Single Family Housing (SFH) Section 502 and 504 Direct Loan 
Program borrowers. Funds remain available until September 30, 2023. The 
Agency's initial objective under the ARP Act is to refinance the 
existing 23,000 Section 502 direct and Section 504 borrowers who have 
been granted and received a COVID-19 payment moratorium. Refinancing 
these loans with a lower interest rate and extended terms will help 
provide needed relief to borrowers, so that mortgage payments are more 
affordable post-moratorium.

Levi S. Harrell,
Departmental Information Collection Clearance Officer.
[FR Doc. 2022-18893 Filed 8-31-22; 8:45 am]
BILLING CODE 3410-XY-P