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Notice

60-Day Notice of Proposed Information Collection: HUD Conditional Commitment/Direct Endorsement Statement of Appraised Value; OMB Control No.: 2502-0494

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AGENCY:

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

ACTION:

Notice.

SUMMARY:

HUD is seeking approval from the Office of Management and Budget (OMB) for the information collection described below. In accordance with the Paperwork Reduction Act, HUD is requesting comments from all interested parties on the proposed collection of information. The purpose of this notice is to allow for 60 days of public comment.

DATES:

Comments Due Date: July 31, 2020.

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: Colette Pollard, Reports Management Officer, QDAM, Department of Housing and Urban Development, 451 7th Street SW, Room 4176, Washington, DC 20410-5000; telephone (202) 402-3400 (this is not a toll free number) or email at Colette.Pollard@hud.gov for a copy of the proposed forms or other available information. Persons with hearing or speech impairments may access the telephone number through TTY by calling the toll free Federal Relay Service at (800) 877-8339.

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FOR FURTHER INFORMATION CONTACT:

Colette Pollard, Reports Management Officer, QDAM, Department of Housing and Urban Development, 451 7th Street SW, Room 4176, Washington, DC 20410-5000; 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 the telephone number through TTY by calling the toll free Federal Relay Service at (800) 877-8339.

Copies of available documents submitted to OMB may be obtained from Ms. Pollard.

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SUPPLEMENTARY INFORMATION:

This notice informs the public that HUD is seeking approval from OMB for the information collection described in Section A.

A. Overview of Information Collection

Title of Information Collection: HUD Conditional Commitment/Direct Endorsement Statement of Appraised Value.

OMB Control Number, if applicable: 2502-0494.

Type of Request: Extension of currently approved collection.

Form Number: HUD 92800.5B.

Description of the need for the information and proposed use: Lenders must provide loan applicants a completed copy of Form HUD-92800.5B at or before loan closing. Form HUD-92800.5B serves as the mortgagee's conditional commitment/direct endorsement statement of appraised value of Federal Housing Administration (FHA) mortgage insurance on the property. The form provides a section for the statement of the property's appraised value and other required FHA disclosures to the borrower, including specific conditions that must be met before HUD can endorse a mortgage for FHA insurance. HUD uses the information to determine the eligibility of a property for mortgage insurance.

Respondents: Mortgagees.

Estimated Number of Respondents: 1,483.

Estimated Number of Responses: 1,059,459.

Frequency of Response: Yearly.

Average Hours per Response: 0.12.

Total Estimated Burdens: 127,135.

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.

C. Authority

Section 3507 of the Paperwork Reduction Act (44 U.S.C. 3507).

The General Deputy Assistant Secretary for Housing, John L. Garvin, having reviewed and approved this document, is delegating the authority to electronically sign this document to submitter, Nacheshia Foxx, who is the Federal Register Liaison for HUD, for purposes of publication in the Federal Register.

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Dated: May 27, 2020.

Nacheshia Foxx,

Federal Register Liaison for the Department of Housing and Urban Development.

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[FR Doc. 2020-11713 Filed 5-29-20; 8:45 am]

BILLING CODE 4210-67-P