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
2502-0524 Supporting Statement(F).docx Supporting Statement A	2017-11-08
24 CFR 206.1211.doc Supplementary Document	2017-04-26
24 CFR 200.95.doc Supplementary Document	2017-04-26
12 USC 1715Z.20.docx Supplementary Document	2017-04-26
HERMIT IPA - 8-22-2012 (signed).pdf Supplementary Document	2017-04-26
60 day notice 0524.pdf Supplementary Document	2017-04-26

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: 201704-2502-004
Status: Active	Previous ICR Reference No: 201411-2502-010
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: Reinstatement with change of a previously approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved without change	Conclusion Date: 01/08/2018
	Date Received in OIRA: 11/08/2017
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	01/31/2021	36 Months From Approved
Responses	80,000	0	0
Time Burden (Hours)	252,800	0	0
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:
	81 FR 83862	11/22/2016
30-day Notice:	Federal Register Citation:	Citation Date:
	82 FR 31343	07/06/2017
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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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	80,000	0	0	0	-20,000	100,000
Annual Time Burden (Hours)	252,800	0	0	0	-197,435	450,235
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: The previous submission indicated a decreased loan volume as the result of the issuance of the aforementioned Mortgagee Letters. Thus, this revised submission further reduces the Total Annual Responses from 100,000 to 80,000.

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Annual Cost to Federal Government: $0

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

Does this ICR request any personally identifiable information (see OMB Circular No. A-130 for an explanation of this term)? Please consult with your agency's privacy program when making this determination.     No

Does this ICR include a form that requires a Privacy Act Statement (see 5 U.S.C. §552a(e)(3))? Please consult with your agency's privacy program when making this determination.     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: 11/08/2017

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