Office of the Assistant Secretary for Housing, HUD.
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.
Comments Due Date: April 26, 2010.
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: Leroy McKinney, Departmental Reports Management Officer, QDAM, Department of Housing and Urban Development, 451 7th Street, SW., Washington, DC 20410; e-mail Leroy.McKinneyJr@HUD.gov or telephone (202)402-8048 or the number for the Federal Information Relay Service (1-800-877-8339).Start Further Info
FOR FURTHER INFORMATION CONTACT:
Joanne Kuzma, 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.End Further Info End Preamble Start Supplemental 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: Disclosure of Adjustable Rate Mortgages (ARMs) Rates.
OMB Control Number, if applicable: 2502-0322.
Description of the need for the information and proposed use: Mortgagees must make available to the mortgagor, at the time of loan application, a written explanation of the features of an adjustable-rate mortgage ARM consistent with the disclosure requirements applicable to variable rate mortgages secured by a principal dwelling under TILA. Regulation Z,” at 15 U.S.C. 1601, 12 CFR 226.18.
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 annual burden hours is 8,065. The number of respondents is 12,670, the number of responses is 161,318, the frequency of response is on occasion, and the burden hour per response is .05.
Status of the proposed information collection: This is an extension of a currently approved collection.Start Signature
Dated: February 19, 2010.
Ronald Y. Spraker,
Associate General Deputy Assistant Secretary for Housing.
[FR Doc. 2010-3759 Filed 2-24-10; 8:45 am]
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