Home Equity Conversion Mortgage (HECM) Insurance Application for Reverse Mortgages and Related Documents

Forms and Documents

Document Name	Status
Form HUD-92902 Home Equity Conversion Mortgage (HECM) Insurance Application for Reverse Mortgages and Related Documents Form	Modified
2535-0113.pdf Supplementary Document	2013-06-20
HERMIT IPA - 8-22-2012 (signed).pdf Supplementary Document	2013-05-20
42 USC 3543.docx Supplementary Document	2013-05-20
12 USC 1715Z.20.docx Supplementary Document	2013-05-20
Natl Hsng Act-255.doc Supplementary Document	2013-05-20
crf 206.1 211.doc Supplementary Document	2013-05-20
Supporting Statement A 2502-0524.doc Supporting Statement A	2013-05-20

IC Document Collections

IC ID	Document Title	Status
27279	Home Equity Conversion Mortgage (HECM) Insurance Application for Reverse Mortgages and Related Documents Form	Modified

ICR Details

OMB Control No: 2502-0524	ICR Reference No: 201211-2502-011
Status: Historical Inactive	Previous ICR Reference No: 201010-2502-013
Agency/Subagency: HUD/OH	Agency Tracking No:
Title: Home Equity Conversion Mortgage (HECM) Insurance Application for Reverse Mortgages and Related Documents
Type of Information Collection: Revision of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Withdrawn and continue	Conclusion Date: 09/06/2013
	Date Received in OIRA: 06/20/2013
Terms of Clearance: HUD will re-submit to account for recent changes to the program.

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	04/30/2014	36 Months From Approved	05/31/2014
Responses	129,000	0	129,000
Time Burden (Hours)	450,235	0	450,235
Cost Burden (Dollars)	0	0	0

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Abstract: The HECM reverse mortgage application and related documents are used to determine the eligibility of the borrower and proposed mortgage transaction for FHA insurance endorsement. This submission is a consolidation of additional consumer notification requirements formerly approved under 2502-0534 and 2502-0546.

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Authorizing Statute(s): US Code: 12 USC 1715z-20 Name of Law: National Housing Act
  

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:
	77 FR 53209	08/31/2012
30-day Notice:	Federal Register Citation:	Citation Date:
	78 FR 36562	06/18/2013
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
Home Equity Conversion Mortgage (HECM) Insurance Application for Reverse Mortgages and Related Documents	HUD-92800-5b, HUD-92051, HUD-92900-A, FANNIE-MAE-1009, HUD-92901, HUD-92902, Fannie Mae 1073, fnma-1004, fnma-1025, HUD-92561, HUD-1a, fnma-1003, fnma-1004c, HUD-1	Certificate of HECM Counseling ,   HECM Anti Churning Disclosure ,   Residential Loan Application for Reverse Mortgages ,   HUD-VA Addendum to Uniform Residential Loan Application ,   Uniform Residential Loan Application ,   Uniform Residential Appraisal Report ,   Manufactured Home Appraisal Report ,   Small Residential Income Property Appraisal Report ,   Compliance Inspection Report ,   Borrows Contract with Respect to Hotel and Transient Use of Property ,   Conditional Commitment Direct Endorsement Statement of Appraised Value ,   Settlement Statement ,   Settlement Statement Optional for Transactions Without Sellers ,   Fannie Mae 1073

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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: Yes

Burden Reduction Due to: Using Information Technology

Short Statement: Reduction in burden hours is due to development of a new HECM system and because HUD projects significant lower loan origination volumes caused by (1) large lenders who exited the HECM business and (2) lower home values nation-wide which reduced consumer demand and eligibility for the program.

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Annual Cost to Federal Government: $0

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? Yes

Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]? No

Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]? No

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: 06/20/2013

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