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Notice of Submission of Proposed Information Collection to OMB: Direct Endorsement Underwriter/HUD Reviewer-Analysis of Appraisal Report

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Office of the Chief Information Officer, HUD.




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 requesting the reinstatement, without change, of a previously approved collection for which approval has expired.

The information is to be provided by lenders or FHA staff reviewers and collected for the review of deficient information contained in the appraisal report. The information is used by FHA in monitoring the quality of the lender's analysis of the appraisal report, identifying areas of weakness for future training, and removing lenders that consistently exhibit careless underwriting and subsequently pose a financial risk to the Department.

The Department is soliciting public comments on the subject proposal.


Comments Due Date: September 5, 2003.


Interested persons are invited to submit comments regarding this proposal. Comments should refer to the proposal by name and/or OMB approval number (2502-0477) and should be sent to: Lauren Wittenberg, OMB Desk Officer, Office of Management and Budget, Room 10235, New Executive Office Building, Washington, DC 20503; Fax number (202) 395-6974; e-mail:

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Wayne Eddins, Reports Management Start Printed Page 46654Officer, AYO, Department of Housing and Urban Development, 451 Seventh Street, Southwest, Washington, DC 20410; e-mail:; telephone (202) 708-2374. This is not a toll-free number. Copies of the proposed forms and other available documents submitted to OMB may be obtained from Mr. Eddins.

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The Department has submitted the proposal for the collection of information, as described below, to OMB for review, as required by the Paperwork Reduction Act (44 U.S.C. chapter 35). The Notice lists the following information: (1) The title of the information collection proposal; (2) the office of the agency to collect the information; (3) the OMB approval number, if applicable; (4) the description of the need for the information and its proposed use; (5) the agency form number, if applicable; (6) what members of the public will be affected by the proposal; (7) how frequently information submissions will be required; (8) an estimate of the total number of hours needed to prepare the information submission including number of respondents, frequency of response, and hours of response; (9) whether the proposal is new, an extension, reinstatement, or revision of an information collection requirement; and (10) the name and telephone number of an agency official familiar with the proposal and of the OMB Desk Officer for the Department.

This Notice also lists the following information:

Title of Proposal: Direct Endorsement Underwriter/HUD Reviewer—Analysis of Appraisal Report.

OMB Approval Number: 2502-0477.

Form Numbers: HUD-54114.

Description of the Need for the Information and its Proposed Use: The information collected is for the review of appraisal reports considered deficient by the underwriter, and to document efforts to resolve any discrepancies. The basic respondents are lender underwriters.

Respondents: Business or other for-profit.

Frequency of Submission: On occasion.

Number of respondentsAnnual responses×Hours per response=Burden hours
Reporting Burden375,000375,0000.0518,750

Total Estimated Burden Hours: 18,750.

Status: Reinstatement, without change, of previously approved collection for which approval has expired.

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Authority: Section 3507 of the Paperwork Reduction Act of 1995, 44 U.S.C. 35, as amended.

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Dated: July 31, 2003.

Wayne Eddins,

Departmental Reports Management Officer, Office of the Chief Information Officer.

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[FR Doc. 03-20040 Filed 8-5-03; 8:45 am]