This information collection involves mortgage loan servicers, "mortgagees" that service Federal Housing Administration "FHA" insured mortgage loans and the home owners, "mortgagors" who are involved with those activities. The information collection request for OMB review seeks to combine the requirements of an existing OMB collection under this collection.
This is a revision of currently approved collection. Due to conditions in the mortgage banking industry, foreclosures, claims, and the increased popularity of the FHA-insured loan program the loan portfolio has increased. With this increase, the information collection results in an increase in the estimated annual responses and annual burden hours. Because of the activities, such as escrow administration that are standard practices within the mortgage industry on all FHA, Veterans Administration (VA) and conventional loans, HUD ascribes no burden hours. However, because HUD removed the regulations for its Section 235 Program, the number of respondents decreased.
$280,697
No
Yes
Yes
No
No
No
Uncollected
Venida Brown 202 708-0614 ext. 2456
No
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:
(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;
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.