OMB.report

Federal forms, ICRs, and supporting documents

Information Collection Request

Lender Qualifications for Multifamily Accelerated Processing (MAP)

ICR 202012-2502-002 · OMB 2502-0541 · Received in OIRA

Forms and Documents
Document
Name
Status
Supplementary Document
2020-12-17
Justification for No Material/Nonsubstantive Change
2020-12-17
Supplementary Document
2020-10-09
Supplementary Document
2020-09-28
Supporting Statement A
2020-12-15
IC Document Collections
IC ID
Document
Title
Status
27323 Unchanged
ICR Details
2502-0541 202012-2502-002
Received in OIRA 202006-2502-003
HUD/OH
Lender Qualifications for Multifamily Accelerated Processing (MAP)
No material or nonsubstantive change to a currently approved collection   No
Regular 12/17/2020
  Requested Previously Approved
12/31/2023 12/31/2023
1,118 1,118
10,406 10,406
0 0
To participate in MAP, lenders will be required to show that they have an experienced multifamily underwriter on staff, a satisfactory record on lending on multifamily housing properties, and an acceptable Quality Control Plan. Qualified lenders can then take advantage of a mortgage application-procesing plan that will take substantially less processing time than traditional processing.
None
None
Not associated with rulemaking
  85 FR 39928 07/02/2020
85 FR 62318 10/02/2020
Yes
  Total Request 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 1,118 1,118 0 0 0 0
Annual Time Burden (Hours) 10,406 10,406 0 0 0 0
Annual Cost Burden (Dollars) 0 0 0 0 0 0
No
No
This is a revision of a currently approved collection for the approval of the MAP Lender requirements. There are no changes to the way the program is administered. However, this collection reports a reduction in the burden hours from the previous collection. This collection requests 10,406 burden hours, the previous collection burden hours were 52,107.50, which is a difference of (41,701.50). Department implemented the follow factors to improve efficiency in lender approval and loan underwriting approval process to reduce the burden hours in this collection by: risk mitigation in underwriting requirements, standardization of processing procedures and forms, and the elimination of duplication in procedures, and forms. In addition to these existing mitigations, per our HUD Departmental guidance we were informed that we were to only list the burden numbers for “Standard Practice” items and not to include these numbers in Number 12’s matrix. HUD had previously counted the burden hours of the “Standard Practice” items the same as the submission of forms and documents. These are forms and documents which are already being collected under other approved OMB collections. The Standard Practice disclosed in this collection are the same procedures, practices, compliances, and authorities that are also required in the industry. Based on this guidance this will drastically reduce the total annual burden hours. A list of the other OMB collections included in Section 1 of this Supporting Statement.
$1,482,316
No
    No
    No
No
No
No
No
Wendy Carter 202 708-2866 ext. 2546
  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.
12/17/2020