[Federal Register Volume 60, Number 193 (Thursday, October 5, 1995)]
[Notices]
[Page 52203]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 95-24720]



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DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT
Office of the Assistant Secretary for Housing--Federal Housing 
Commissioner
[Docket No. FR-2491-N-03]


Notice of Proposed Information Collection for Public Comment on 
Actions to Reduce Losses in FHA Programs

AGENCY: Office of the Assistant Secretary for Housing-Federal Housing 
Commissioner, HUD.

ACTION: Notice.

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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: December 4, 1995.

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: Oliver Walker, Reports Liaison 
Officer, Department of Housing & Urban Development, 451-7th Street, SW, 
Room 9116, Washington, DC 20410.

FOR FURTHER INFORMATION CONTACT:
Andrew Zirneklis, Office of Lender Activities and Land Sales 
Registration on (202) 708-1515, extension 2055 (this is not a toll-free 
number) for copies of the proposed forms and other available documents 
contact Oliver Walker, Chief Directives, Reports and Forms Branch on 
708-1694 extension 2144.

SUPPLEMENTARY INFORMATION: The Department will submit the proposed 
information collection to OMB for review, as required by the Paperwork 
Reduction Act of 1995 (44 U.S.C. Chapter 35, as amended).

    The 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: Actions to Reduce Losses in FHA Programs (FR-
2491).
    OMB control number, if applicable: OMB# 2502-0392.
    Description of the need for the information and proposed use: The 
information is used by HUD's Office of Lender Activities and Land Sales 
Registration to monitor and evaluate the performance of HUD-approved 
mortgagees as to their continued participation in the FHA mortgage 
insurance programs. The information is required to prevent losses to 
the FHA insurance funds, curb fraud in FHA programs and to maintain an 
effective Departmental compliance and administrative sanction process 
for lenders who violate the Department's requirements. Approximately 
200 HUD approved morgagees annually are required to submit a report 
explaining the basis for having above-normal early serious defaults or 
claims in connection with FHA insured mortgages. This information is 
reviewed, and as appropriate, mortgagees are required to implement 
corrective action or be subject to administrative sanctions.

    Agency form numbers, if applicable: Not applicable.

    Members of affected public: Approximately 200 HUD approved 
morgagees.

    Estimation of the total numbers of hours neededto prepare the 
information collection including number of respondents, frequency of 
response, and hours of response: The estimation of the total numbers of 
hours needed to prepare the information collection including number of 
respondents, frequency of response, and hours of response is 40 hours 
(8,000 hours annually) per 1 respondent out of 200 respondents.

Status of the Proposed Information Collection

    This a currently approved collection and an extension is being 
requested. The OMB approved number will expire on December 31, 1995.

    Authority: Section 3506 of the Paperwork Reduction Act of 1995, 
44 U.S.C. Chapter 35, as amended.

    Dated: September 28, 1995.

Nicolas P. Retsinas,

A/S Secretary for Housing--Federal Housing Commissioner.

[FR Doc. 95-24720 Filed 10-4-95; 8:45 am]
BILLING CODE 4210-27-M