HUD Conditional Commitment/Direct Endorsement Statement of Appraised Value

Forms and Documents

Document Name	Status
Form HUD-92800.5B HUD Conditional Commitment/Direct Endorsement Statement of Apraised Value Form and Instruction	Modified
Supporting Statement A.docx Supporting Statement A	2014-01-31

IC Document Collections

IC ID	Document Title	Status
27234	HUD Conditional Commitment/Direct Endorsement Statement of Apraised Value Form and Instruction	Modified

ICR Details

OMB Control No: 2502-0494	ICR Reference No: 201401-2502-001
Status: Historical Active	Previous ICR Reference No: 201010-2502-011
Agency/Subagency: HUD/OH	Agency Tracking No:
Title: HUD Conditional Commitment/Direct Endorsement Statement of Appraised Value
Type of Information Collection: Revision of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved without change	Conclusion Date: 05/30/2014
	Date Received in OIRA: 03/31/2014
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	05/31/2017	36 Months From Approved	05/31/2014
Responses	900,000	0	5,668
Time Burden (Hours)	108,000	0	680
Cost Burden (Dollars)	0	0	0

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Abstract: The information is used by appraisers and/or underwriters upon their review of the appraisal report (USAR) to determine if a property meets FHA guidelines to be eligible for HUD mortgage insurance. Underwriters are required to sign and submit a copy of the completed form to HUD for endorsement as part of the case binder; to provide a copy to the homebuyer; and to maintain a copy for the mortgagee.

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Authorizing Statute(s): US Code: 12 USC Section 203 1701 et. seq. 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:
	78 FR 69704	11/20/2013
30-day Notice:	Federal Register Citation:	Citation Date:
	79 FR 17173	03/27/2014
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
HUD Conditional Commitment/Direct Endorsement Statement of Apraised Value	HUD-92800.5B	Conditional Commitment/Direct Endorsement Statment of Appraised Value

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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	900,000	5,668	0	894,332	0	0
Annual Time Burden (Hours)	108,000	680	0	107,320	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: Miscellaneous Actions

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

Burden Reduction Due to:

Short Statement: The number of respondents has been corrected to show all FHA approved lenders. FHA loan volume has increased, but all lenders contacted provide borrowers with appraisals in lieu of the form HUD-92800.5B. In the last 12 months 5,668 loans have required repairs and HUD-92800.5B was required to be presented to the borrower in these cases in order for the borrower to be informed regarding what repairs are necessary for the property to be safe, sound and secure. The form is required to be included in all case binders for FHA-insured mortgages. For most mortgages the form is not provided to the borrower, the form is provided to the borrower when the repairs to the home were required.

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Annual Cost to Federal Government: $57,600

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]? 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: 03/31/2014

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