This PDF is the current document as it appeared on Public Inspection on 12/02/2016 at 08:45 am.
Office of the Chief Information Officer, HUD.
HUD has submitted the proposed information collection requirement described below to the Office of Management and Budget (OMB) for review, in accordance with the Paperwork Reduction Act. The purpose of this notice is to allow for an additional 30 days of public comment.
Comments Due Date: January 4, 2017.
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: HUD Desk Officer, Office of Management and Budget, New Executive Office Building, Washington, DC 20503; fax: 202-395-5806. Email: OIRA_Submission@omb.eop.gov.Start Further Info
FOR FURTHER INFORMATION CONTACT:
Colette Pollard, Reports Management Officer, QMAC, Department of Housing and Urban Development, 451 7th Street SW., Washington, DC 20410; email Colette Pollard at Colette.Pollard@hud.gov or telephone 202-402-3400. This is not a toll-free number. Persons with hearing or speech impairments may access this number through TTY by calling the toll-free Federal Relay Service at (800) 877-8339.Start Printed Page 87581
Copies of available documents submitted to OMB may be obtained from Ms. Pollard.End Further Info End Preamble Start Supplemental Information
This notice informs the public that HUD is seeking approval from OMB for the information collection described in Section A.
The Federal Register notice that solicited public comment on the information collection for a period of 60 days was published on August 31, 2016 at 81 FR 60016.
A. Overview of Information Collection
Title of Information Collection: FHA Adjustable Rate Mortgages (ARMS).
OMB Approval Number: 2502-0322.
Type of Request: Extension of a currently approved collection.
Form Number: None.
Description of the need for the information and proposed use: The Housing and Urban-Rural Recovery Act of 1983 amended the National Housing Act to permit FHA to insure adjustable rate mortgages (ARMS). The term of all ARMS insured by HUD-FHA is required to be fully disclosed as part of the loan approval process. Additionally, an annual disclosure is required to reflect the adjustment to the interest rate and monthly mortgage amount. Lenders must electronically indicate that the mortgage to be insured is an ARM and the term or type of the ARM.
Respondents: (i.e., affected public): Business or other for-profit.
Estimated Number of Respondents: 2,535.
Estimated Number of Responses: 164,447.
Frequency of Response: On Occasion.
Average Hours per Response: .05.
Total Estimated Burden: 8,222.35.
B. Solicitation of Public Comment
This notice is soliciting comments from members of the public and affected parties concerning the collection of information described in Section A on the following:
(1) 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) The accuracy of the agency's estimate of the burden of the proposed collection of information;
(3) Ways to enhance the quality, utility, and clarity of the information to be collected; and
(4) Ways to 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.
HUD encourages interested parties to submit comment in response to these questions.Start Signature
Dated: November 21, 2016.
Department Reports Management Officer, Office of the Chief Information Officer.
[FR Doc. 2016-29121 Filed 12-2-16; 8:45 am]
BILLING CODE 4210-67-P