Application for HUD/FHA Insured Mortgage “Hope for Homeowners”

Forms and Documents

Document Name	Status
Draft-83I-2502-xxxx REV 1-7-09.docm Supporting Statement A	2009-01-22

IC Document Collections

IC ID	Document Title	Status
187611	Application for HUD/FHA Insured Mortgage “Hope for Homeowners” Other-Shared Equity Note	New

ICR Details

OMB Control No: 2502-0579	ICR Reference No: 200812-2502-007
Status: Historical Active	Previous ICR Reference No:
Agency/Subagency: HUD/OH	Agency Tracking No:
Title: Application for HUD/FHA Insured Mortgage “Hope for Homeowners”
Type of Information Collection: New collection (Request for a new OMB Control Number)	Common Form ICR:  No
Type of Review Request: Emergency	Approval Requested By: 12/31/2008
OIRA Conclusion Action: Approved without change	Conclusion Date: 02/11/2009
	Date Received in OIRA: 12/19/2008
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	08/31/2009	6 Months From Approved
Responses	1,266,160	0	0
Time Burden (Hours)	915,040	0	0
Cost Burden (Dollars)	0	0	0

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Abstract: FHA This information is collected on new mortgages offered by FHA approved mortgagees to mortgagors who are at risk of losing their homes to foreclosure. The new FHA insured mortgages refinance the borrowers existing mortgage at a significatnt writedown. Under the program the mortgagors share the new equity and future appreciation with

Emergency Justfication: This is a new submission to cover information collection required to meet the statutory and regulatory requirements of the HOPE for Homeowners Program established in Title IV of the Housing and Economic Recovery Act of 2008.

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Authorizing Statute(s): PL: Pub.L. 110 - 289 2654 Name of Law: Housing and Economic Recovery Act
   US Code: 12 USC 1701z-22 Name of Law: zfederal Housing Administration (FHA)
  

Citations for New Statutory Requirements: None

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
2580-AA00	Final or interim final rulemaking	73 FR 194	10/06/2008

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Federal Register Notices & Comments

Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 1

IC Title	Form No.	Form Name
Application for HUD/FHA Insured Mortgage “Hope for Homeowners”	HUD 92915, HUD 92917, HUD 92916, HUD 92900	Hope for Homeowners Certification ,   Hope for Homeowners ,   Hope for Homeowners Consumer Disclosure and Certification Form ,   FHA Hope for Homeowner attachment to FHA Loan Underwriting and Transmittal Summary

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ICR Summary of Burden

	Total Approved	Previously Approved	Change Due to New Statute	Change Due to Agency Discretion	Change Due to Adjustment in Estimate	Change Due to Potential Violation of the PRA
Annual Number of Responses	1,266,160	0	0	1,266,160	0	0
Annual Time Burden (Hours)	915,040	0	0	915,040	0	0
Annual Cost Burden (Dollars)	0	0	0	0	0	0

Burden increases because of Program Change due to Agency Discretion: Yes

Burden Increase Due to: Changing Regulations

Burden decreases because of Program Change due to Agency Discretion: No

Burden Reduction Due to:

Short Statement: This is a new submission to cover information collection required to meet the statutory and regulatory requirements of the HOPE for Homeowners Program established in Title IV of the Housing and Economic Recovery Act of 2008.

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Annual Cost to Federal Government: $3,616,935

Does this IC contain surveys, censuses, or employ statistical methods? No

Is the Supporting Statement intended to be a Privacy Impact Assessment required by the E-Government Act of 2002? No

Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]? Uncollected

Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]? Uncollected

Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)? Uncollected

Is this ICR related to the Pandemic Response? Uncollected

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Common Form ICR:  No

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On behalf of this Federal agency, I certify that the collection of information encompassed by this request complies with 5 CFR 1320.9 and the related provisions of 5 CFR 1320.8(b)(3).

The following is a summary of the topics, regarding the proposed collection of information, that the certification covers:

(a) It is necessary for the proper performance of agency functions;

(b) It avoids unnecessary duplication;

(c) It reduces burden on small entities;

(d) It uses plain, coherent, and unambiguous language that is understandable to respondents;

(e) Its implementation will be consistent and compatible with current reporting and recordkeeping practices;

(f) It indicates the retention periods for recordkeeping requirements;

(g) It informs respondents of the information called for under 5 CFR 1320.8 (b)(3) about:

(i) Why the information is being collected;

(ii) Use of information;

(iii) Burden estimate;

(iv) Nature of response (voluntary, required for a benefit, or mandatory);

(v) Nature and extent of confidentiality; and

(vi) Need to display currently valid OMB control number;

(h) It was developed by an office that has planned and allocated resources for the efficient and effective management and use of the information to be collected.

(i) It uses effective and efficient statistical survey methodology (if applicable); and

(j) It makes appropriate use of information technology.

If you are unable to certify compliance with any of these provisions, identify the item by leaving the box unchecked and explain the reason in the Supporting Statement.

Certification Date: 12/19/2008

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