Deed-in-Lieu of Foreclosure (Corporate Mortgagors or Mortgagors Owning More than One Property)

Forms and Documents

Document Name	Status
ICR 2502-0301.docx Supporting Statement A	2009-04-10

IC Document Collections

IC ID	Document Title	Status
27103	Deed-in-Lieu of Foreclosure (Corporate Mortgagors or Mortgagors Owning More than One Property)	Modified

ICR Details

OMB Control No: 2502-0301	ICR Reference No: 200904-2502-001
Status: Historical Active	Previous ICR Reference No: 200603-2502-001
Agency/Subagency: HUD/OH	Agency Tracking No:
Title: Deed-in-Lieu of Foreclosure (Corporate Mortgagors or Mortgagors Owning More than One Property)
Type of Information Collection: Extension without change of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved without change	Conclusion Date: 05/12/2009
	Date Received in OIRA: 04/10/2009
Terms of Clearance: This collection is approved for only two years due to lack of full GPEA compliance.

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	05/31/2011	36 Months From Approved	05/31/2009
Responses	20	0	25
Time Burden (Hours)	20	0	13
Cost Burden (Dollars)	0	0	0

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Abstract: Mortgagees must obtain written consent from HUD's National Servicing Center to accept a deed-in-lieu of foreclosure when the mortgagor is a corporate mortgagor or a mortgagor owning more than one property insured by the Department of Housing and Urban Development (HUD). Mortgagees must provide HUD with specific information.

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Authorizing Statute(s): US Code: 12 USC 1710 Name of Law: Excerpt from the National Housing Act Payment of Insurance
  

Citations for New Statutory Requirements: None

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
	Not associated with rulemaking

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Federal Register Notices & Comments
60-day Notice:	Federal Register Citation:	Citation Date:
	73 FR 229	11/26/2008
30-day Notice:	Federal Register Citation:	Citation Date:
	74 FR 68	04/10/2009
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
Deed-in-Lieu of Foreclosure (Corporate Mortgagors or Mortgagors Owning More than One Property)

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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	20	25	0	0	-5	0
Annual Time Burden (Hours)	20	13	0	0	7	0
Annual Cost Burden (Dollars)	0	0	0	0	0	0

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

Burden Increase Due to:

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

Burden Reduction Due to:

Short Statement: HUD has received no request to accept deeds-in-lieu of foreclosure from corporate mortgagors or mortgagors owning more than one property for the past several years. However, given the recent influx of foreclosures in the mortgage industry, HUD could potentially receive approximately 20 submissions annually. The adjustment to the burden hours reflects a more accurate response time for respondents to complete the request for deeds-in-lieu.

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Annual Cost to Federal Government: $620

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)? No

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: 04/10/2009

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