[Federal Register Volume 73, Number 206 (Thursday, October 23, 2008)]
[Notices]
[Page 63188]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: E8-25268]
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DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT
[Docket No. FR-5191-N-36]
Notice of Proposed Information Collection: Comment Request Local
Appeals to Single Family Mortgage Limits
AGENCY: Office of the Assistant Secretary for Housing, 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 Date: December 22, 2008.
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: Lillian Deitzer, Departmental
Reports Management Officer, QDAM, Department of Housing and Urban
Development, 451 7th Street, SW., Washington, DC 20410; e-mail
[email protected] or telephone (202) 402-8048.
FOR FURTHER INFORMATION CONTACT: Program Contact, Director, Office of
Single Family Program Development, 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 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 are to 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: Local Appeals to Single Family Mortgage Limits.
OMB Control Number, if applicable: 2502-0302.
1. Description of the need for the information and proposed use:
Any interested party may submit a request for the mortgage limits to be
increased in a particular area if they believe that the present limit
does not accurately reflect the higher sales prices in that area. Any
request for an increase must be accompanied by sufficient housing sales
price data to justify higher limits. Typically, this data includes
housing sales data extracted from multiple listing services (MLS) that
includes all or nearly all one-family and condominium sales in the area
for a specified period of time, deleting all non-arms length sales and
sales involving two or more family units.
This data should be categorized as shown in the table below in a
listing of all, or nearly all, of the one-family properties sold in the
area for a period of time, depending on the volume of sales. HUD uses
the information collected to determine whether an increase is
warranted.
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Revised
data
Sales volume period
(month)
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500 or more per month........................................ 1
250 to 499 per month......................................... 2
250 or less per month........................................ 3
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These requests are usually submitted by housing industry groups,
such as homebuilders, realtors, and mortgage lenders. Most often, the
housing sales price data is necessary to support a request for a higher
mortgage limit that may be obtained from existing local industry
sources, such as the real estate multiple listing services.
The request for an increase to the mortgage limit is required to
obtain benefits.
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 number of burden hours annually is
31,000. The number of respondents is 4500, the number of responses is
4500, the frequency of response is averaged one per respondent, and the
burden hour per response is 7.
Status of the proposed information collection: This is a renewal of
OMB Control Number 2502-0302.
Authority: The Paperwork Reduction Act of 1995, 44 U.S.C.,
Chapter 35, as amended.
Dated: October 15, 2008.
Ronald Y. Spraker,
Acting General Deputy Assistant Secretary for Housing--Deputy Federal
Housing Commissioner.
[FR Doc. E8-25268 Filed 10-22-08; 8:45 am]
BILLING CODE 4210-67-P