[Federal Register Volume 77, Number 53 (Monday, March 19, 2012)]
[Notices]
[Pages 16049-16050]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2012-6595]
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DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT
[Docket No. FR-5603-N-20]
Notice of Submission of Proposed Information Collection to OMB
Single Family Premium Collection Subsystem-Periodic (SFPCS-P)
AGENCY: Office of the Chief Information Officer, HUD.
ACTION: Notice.
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SUMMARY: The proposed information collection requirement described
below has been 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.
The Single Family Premium Collection Subsystem-Periodic (SFPCS-P)
allows the lenders to remit the Periodic Mortgage Insurance Premiums
using funds obtained from the mortgagor during the collection of the
monthly mortgage payment. The SFPCS-P strengthens HUD's ability to
manage and process periodic single-family mortgage insurance premium
collections and corrections to submitted data. It also improves data
integrity for the Single Family Mortgage Insurance Program. Therefore,
the FHA approved lenders use Automated Clearing House (ACH) application
for all transmissions with SFPCS-P. The authority for this collection
of information is specified in 24 CFR 203.264 and 24 CFR 203.269. In
general, the lenders use the ACH application to remit the periodic
premium payments through SFPCS-P for the required FHA insured cases and
to comply with the Credit Reform Act.
DATES: Comments Due Date: April 18, 2012.
ADDRESSES: Interested persons are invited to submit comments regarding
this proposal. Comments should refer to the proposal by name and/or OMB
[[Page 16050]]
approval Number (2502-0536) and should be sent to: HUD Desk Officer,
Office of Management and Budget, New Executive Office Building,
Washington, DC 20503; fax: 202-395-5806. Email: [email protected], fax: 202-395-5806.
FOR FURTHER INFORMATION CONTACT: Colette Pollard., Reports Management
Officer, QDAM, Department of Housing and Urban Development, 451 Seventh
Street SW., Washington, DC 20410; email Colette Pollard at
[email protected], or telephone (202) 402-3400. This is not a
toll-free number. Copies of available documents submitted to OMB may be
obtained from Ms. Pollard.
SUPPLEMENTARY INFORMATION: This notice informs the public that the
Department of Housing and Urban Development has submitted to OMB a
request for approval of the Information collection described below.
This notice is soliciting comments from members of the public and
affecting agencies concerning the proposed collection of information
to: (1) Evaluate whether the proposed collection of information 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 are to respond;
including through 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: Single Family Premium Collection Subsystem-
Periodic (SFPCS-P).
OMB Approval Number: 2502-0536.
Form Numbers: None.
Description of the Need for the Information and Its Proposed Use:
The Single Family Premium Collection Subsystem-Periodic (SFPCS-P)
allows the lenders to remit the Periodic Mortgage Insurance Premiums
using funds obtained from the mortgagor during the collection of the
monthly mortgage payment. The SFPCS-P strengthens HUD's ability to
manage and process periodic single-family mortgage insurance premium
collections and corrections to submitted data. It also improves data
integrity for the Single Family Mortgage Insurance Program. Therefore,
the FHA approved lenders use Automated Clearing House (ACH) application
for all transmissions with SFPCS-P. The authority for this collection
of information is specified in 24 CFR 203.264 and 24 CFR 203.269. In
general, the lenders use the ACH application to remit the periodic
premium payments through SFPCS-P for the required FHA insured cases and
to comply with the Credit Reform Act.
Estimation of the total number of hours needed to prepare the
information collection including number of respondents, frequency of
response, and hours of response: The public reporting burden for this
collection of information is estimated as the number of hours needed to
prepare the information collection is 2,765 annually, the estimated
number of respondents is 1,536 annually, the frequency of response is
monthly generating 18,432 responses annually, and the estimated time
per response is approximately 15 minutes. Since remittances are made
through the ACH applications the periodic remittance is submitted
electronically and there is no paperwork to complete and mail in.
Status: Existing of a currently approved collection.
Authority: Section 3507 of the Paperwork Reduction Act of 1995,
44 U.S.C. 35, as amended
Dated: March 13, 2012.
Colette Pollard,
Departmental Reports Management Officer, Office of the Chief
Information Officer.
[FR Doc. 2012-6595 Filed 3-16-12; 8:45 am]
BILLING CODE 4210-67-P