[Federal Register Volume 75, Number 137 (Monday, July 19, 2010)]
[Notices]
[Pages 41876-41877]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2010-17577]
-----------------------------------------------------------------------
DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT
[Docket No. FR-5376-N-63]
Disclosure of Adjustable Rate Mortgages (ARMs) Rates
AGENCY: Office of the Chief Information Officer, HUD.
ACTION: Notice.
-----------------------------------------------------------------------
[[Page 41877]]
SUMMARY: 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
is soliciting public comments on the subject proposal.
The terms of all ARMS insured by HUD-FHA are required to be fully
disclosed as part of the loan approval process. Additionally, an annual
disclosure is required to reflect any adjustment to the interest rate
and monthly mortgage amount.
DATES: Comments Due Date: August 18, 2010.
ADDRESSES: Interested persons are invited to submit comments regarding
this proposal. Comments should refer to the proposal by name and/or OMB
approval Number (2502-0322) and should be sent to: HUD Desk Officer,
Office of Management and Budget, New Executive Office Building,
Washington, DC 20503; fax: 202-395-5806.
FOR FURTHER INFORMATION CONTACT: Leroy McKinney, Jr., Reports
Management Officer, QDAM, Department of Housing and Urban Development,
451 Seventh Street, SW., Washington, DC 20410; e-mail Leroy McKinney,
Jr. at [email protected] or telephone (202) 402-5564. This is
not a toll-free number. Copies of available documents submitted to OMB
may be obtained from Mr. McKinney.
SUPPLEMENTARY INFORMATION: This notice informs the public that the
Department of Housing and Urban Development has submitted to OMB a
request for approval of the Information collection described below.
This notice is soliciting comments from members of the public and
affecting agencies concerning the proposed collection of information
to: (1) Evaluate 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)
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 through 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 Approval Number: 2502-0322.
Form Numbers: None.
Description of the Need for the Information and its Proposed Use:
The terms of all ARMS insured by HUD-FHA are required to be fully
disclosed as part of the loan approval process. Additionally, an annual
disclosure is required to reflect any adjustment to the interest rate
and monthly mortgage amount.
Frequency of Submission: On occasion.
----------------------------------------------------------------------------------------------------------------
Number of Annual Hours per
respondents responses x response = Burden hours
----------------------------------------------------------------------------------------------------------------
Reporting Burden.................... 12,670 12.731 .. 0.0499 .. 8,065
----------------------------------------------------------------------------------------------------------------
Total Estimated Burden Hours: 8,065.
Status: Revision of a currently approved collection.
Authority: Section 3507 of the Paperwork Reduction Act of 1995,
44 U.S.C. 35, as amended.
Dated: July 13, 2010.
Leroy McKinney, Jr.,
Departmental Reports Management Officer, Office of the Chief
Information Officer.
[FR Doc. 2010-17577 Filed 7-16-10; 8:45 am]
BILLING CODE 4210-67-P