[Federal Register Volume 76, Number 149 (Wednesday, August 3, 2011)]
[Notices]
[Pages 46833-46834]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2011-19590]
-----------------------------------------------------------------------
DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT
Docket No. FR-5484-N-25]
Notice of Proposed Information Collection: Comment Request;
Application for FHA Insured Mortgages
AGENCY: Office of the Assistant Secretary for Housing--Federal Housing
Commissioner, HUD.
ACTION: Notice.
-----------------------------------------------------------------------
SUMMARY: The proposed information collection requirement described
below will be submitted to the Office of Management and Budget (OMB)
for review, as required by the Paperwork Reduction Act. The Department
is soliciting public comments on the subject proposal.
DATES: Comments Due Date: October 3, 2011.
ADDRESSES: Interested persons are invited to submit comments regarding
this proposal. Comments should refer to the proposal by name and/or OMB
Control Number and should be sent to: Reports Liaison Officer,
Department of Housing and Urban Development, 451 7th Street, SW.,
Washington, DC 20410, Room 9120 or the number for the Federal
Information Relay Service (1-800-877-8339).
FOR FURTHER INFORMATION CONTACT: Arlene Nunes, Deputy Director, Home
Mortgage Insurance Division, Office of Single Family Program
Development Division, Department of Housing and Urban Development, 451
7th Street, SW., Washington, DC 20410, telephone (202) 708-2121 (this
is not a toll free number) for copies of the proposed forms and other
available information.
SUPPLEMENTARY INFORMATION: The Department is submitting the proposed
information collection requirements to OMB for review, as required by
the Paperwork Reduction Act of 1995 (44 U.S.C. chapter 35, as amended).
This Notice is soliciting comments from members of the public and
affected agencies concerning the proposed collection of information to:
(1) Evaluate whether the proposed collection is necessary for the
proper performance of the functions of the agency, including whether
the information will have practical utility; (2) Evaluate the accuracy
of the agency's estimate of the burden of the proposed collection of
information; (3) Enhance the quality, utility, and clarity of the
information to be collected; and (4) Minimize the burden of the
collection of information on those who will respond; including the use
of appropriate automated collection techniques or other forms of
information technology, e.g., permitting electronic submission of
responses.
This Notice also lists the following information:
Title of Proposal: Requirements for Single Family Mortgage
Instruments.
OMB Control Number, if applicable: 2502-0404.
Description of the need for the information and proposed use: The
lender or designee prepares the mortgage and mortgage note that are to
be insured by the Department. In accordance with the subject policy,
the lender must include language in the mortgage, mortgage note, deed
of trust, etc., that accomplishes the requirements of the Department
for mortgage insurance. The lender must ensure that the mortgage and
the note contain these provisions and do not include
[[Page 46834]]
provisions that conflict. If these requirements are not observed, FHA
may insure a mortgage that fails to comply with statutory and
regulatory requirements established to protect the interest of the
government. For each mortgage, the lender or designee must provide the
name of the mortgagor, the legal description of the property, and the
term and rate of the mortgage to be insured. A lender must develop or
procure mortgage and note forms that comply with both HUD and
applicable state and local requirements for a recordable and
enforceable mortgage. Proof of recoding is often found on the document;
a recorded document normally has a seal or other marking that indicates
where it may be found in the land records. Either proof of recordation
or a certified copy of the document with the recordation seal will meet
this requirement.
Agency form numbers, if applicable: None.
Estimation of the total numbers of hours needed to prepare the
information collection including number of respondents, frequency of
response, and hours of response: The frequency of response is one
document per loan and the total number of burden hours for entry is 30
minutes per endorsed case. The total number of responses is 1,623,947
which represent the total number of FHA cases endorsed. The total
number of burden hours is estimated at 811,973 which represent the time
required to prepare the required documents for FHA cases insured.
Status of the proposed information collection: This is an extension
of a currently approved collection.
Authority: The Paperwork Reduction Act of 1995, 44 U.S.C.,
Chapter 35, as amended.
Dated: July 25, 2011.
Ronald Y. Spraker,
Associate General Deputy Assistant Secretary for Housing-Associate
Deputy Federal Housing Commissioner.
[FR Doc. 2011-19590 Filed 8-2-11; 8:45 am]
BILLING CODE 4210-67-P