[Federal Register Volume 75, Number 52 (Thursday, March 18, 2010)]
[Notices]
[Pages 13074-13075]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2010-5883]
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DEPARTMENT OF AGRICULTURE
Rural Housing Service
Notice of Request for Extension of a Currently Approved
Information Collection
AGENCY: Rural Housing Service, USDA.
ACTION: Proposed collection; comments requested.
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SUMMARY: In accordance with the Paperwork Reduction Act of 1995, this
notice announces the Rural Housing Service's intention to request an
extension for a currently approved information collection in support of
the program for Rural Housing Loans.
DATES: Comments on this notice must be received by May 17, 2010 to be
assured of consideration.
FOR FURTHER INFORMATION CONTACT: Debra A. Terrell, Senior Loan
Specialist, Single Family Housing Guaranteed Loan Division, Rural
Housing Service, Stop 0784, 1400 Independence Ave., SW., Washington, DC
20250-0784; Telephone: (202) 720-1452; E-mail:
[email protected].
SUPPLEMENTARY INFORMATION:
Title: Rural Housing Loans.
OMB Number: 0575-0078.
Expiration Date of Approval: March 31, 2010.
[[Page 13075]]
Type of Request: Extension of a currently approved information
collection.
Abstract: The Rural Housing Service (RHS) is authorized under
Section 517(d) of Title V of the Housing Act of 1949, as amended, to
issue loan guarantees for the acquisition of new or existing dwellings
and related facilities to provide decent, safe, and sanitary living
conditions and other structures in rural areas by eligible recipients.
The Act also authorizes the Secretary to pay the holder of a
guaranteed loan the difference between the rate of interest paid by the
borrower and the market rate of interest.
The purpose of the program is to assist low and moderate income
individuals and families acquire or construct a single family residence
in a rural area with loans made by private lenders. Eligibility for
this program includes low and moderate income families or persons whose
income does not exceed 115 percent of the median income for the area,
as determined by the Secretary.
The Guaranteed Rural Housing (GRH) program was authorized under the
Cranston-Gonzalez National Affordable Housing Act, and the Agency
issued a final rule implementing the GRH program on April 17, 1991,
before departmental reorganization. The program began as a pilot
program in 20 States on May 17, 1991. In 1992, the GRH program was
offered on a nationwide basis. During the implementation process, the
Agency looked for ways to improve the program and make it more user-
friendly.
The Agency recognized the need to make its program even more
compatible with the existing structure of the mortgage lending
community. On May 22, 1995, the Agency published a final rule
incorporating the needed changes to encourage greater participation by
lenders and the secondary market for mortgage loans.
The information requested by the Agency includes borrower financial
information such as household income, assets and liabilities, and
monthly expenses. All information collected is vital for the Agency to
determine if borrowers qualify for and assure they receive all
assistance for which they are eligible. Information requested on
lenders is required to ensure lenders are eligible to participate in
the GRH program. Lender requirements are in compliance with OMB
Circular A-129.
Estimate of Burden: Public reporting burden for this collection of
information is estimated to average 1.44 hours per response.
Respondents: Individuals or households and business or other for-
profits.
Estimated Number of Respondents: 33,393.
Estimated Number of Responses per Respondent: 8.7.
Estimated Number of Responses: 293,053.
Estimated Total Annual Burden on Respondents: 204,081 hours.
Copies of this information collection can be obtained from Linda
Watts-Thomas, Regulations and Paperwork Management Branch, at (202)
692-0226.
Comments
Comments are invited on: (a) Whether the proposed collection of
information is necessary for the proper performance of the functions of
RHS, including whether the information will have practical utility; (b)
the accuracy of RHS's estimate of the burden of the proposed collection
of information including the validity of the methodology and
assumptions used; (c) ways to enhance the quality, utility and clarity
of the information to be collected; and (d) ways to minimize the burden
of the collection of information on those who are to respond, including
through the use of appropriate automated, electronic, mechanical, or
other technological collection techniques or other forms of information
technology.
Comments may be sent to Linda Watts-Thomas, Regulations and
Paperwork Management Branch, Support Services Division, U.S. Department
of Agriculture, Rural Development, STOP 0742, 1400 Independence Ave.,
SW., Washington, DC 20250-0742. All responses to this notice will be
summarized and included in the request for OMB approval. All comments
will also become a matter of public record.
Dated: March 12, 2010.
Tammye Trevi[ntilde]o,
Administrator, Rural Housing Service.
[FR Doc. 2010-5883 Filed 3-17-10; 8:45 am]
BILLING CODE 3410-XV-P