[Federal Register Volume 75, Number 77 (Thursday, April 22, 2010)]
[Notices]
[Pages 21021-21022]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2010-9239]
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DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT
[Docket No. FR-5380-N-16]
Notice of Proposed Information Collection: Comment Request;
Mortgage Insurance Termination, Application for Premium Refund or
Distributive Share
AGENCY: Office of the Assistant Secretary for Housing, HUD.
ACTION: Notice.
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SUMMARY: 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.
DATES: Comments Due Date: June 21, 2010.
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: Leroy McKinney Jr., Departmental
Reports Management Officer, QDAM, Department of Housing and Urban
Development, 451 7th Street, SW., Washington, DC 20410; e-mail
[email protected] or telephone (202) 402-8048 or the number for
the Federal Information Relay Service (1-800-877-8339).
FOR FURTHER INFORMATION CONTACT: Program Contact, Branch Chief,
Disbursements and Customer Service Branch, Department of Housing and
Urban Development, 451 7th Street, SW., Washington, DC 20410, telephone
(202) 402-3545 (this is not a toll free number) for copies of the
proposed forms and other available information.
SUPPLEMENTARY 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: Mortgage Insurance Termination, Application for
Premium Refund or Distributive Share.
OMB Control Number, if applicable: 2502-0414.
Description of the need for the information and proposed use:
Mortgage Insurance Termination is used by servicing mortgagees to
comply with HUD requirements for reporting termination of FHA mortgage
insurance. This information is used whenever FHA mortgage insurance is
terminated and no claim for insurance benefits will be filed. This
information is submitted on via the internet or EDI and is used to
directly pay eligible homeowners. This condition occurs when the form
passes the criteria of certain system edits.
As the result the system generates a disbursement to the eligible
homeowner for the refund consisting of the unused portion of the paid
premium. The collection information required is used to update HUD's
Single Family Insurance System. The billing of mortgage insurance
premiums is discontinued as a result of the transaction. Without this
information the premium collection/monitoring function would be
severely impeded and program data would be unreliable. Under streamline
III when the form is processed and but does not pass the series of
edits the system generates in these cases the Application for Premium
Refund or Distributive Share Payment to the homeowner to be completed
and returned to HUD for further processing for the refund. In general a
Premium Refund is the difference between the amount of prepaid premium
and the amount of the premium that has been earned by HUD up to the
time the mortgage is terminated.
Agency form numbers, if applicable: Information is provided
electronically.
[[Page 21022]]
Estimation of the total numbers of hours needed to prepare the
information collection including number of respondents, frequency of
response, and hours of response: Public reporting burden for this
collection of information for the Mortgage Insurance Termination is
estimated to average 5 minutes per response, including the time for
reviewing instructions, searching existing data sources gathering and
maintaining the data needed, and completing and reviewing the
collection of information. The number of respondents is 6,000 and the
frequency of response is as required and the volume per respondents is
1 to 40,000 depending on the size of their FHA portfolio.
Public reporting burden for this collection of information for the
Application for Premium Refund or Distributive Share is estimated to
average 15 minutes per response, including the time for reviewing
instructions, searching existing data sources gathering and maintaining
the data needed, and completing and reviewing the collection of
information. The number of respondents is 50,000 and the frequency of
response is one time and the volume per respondents is 1.
Status of the proposed information collection: Recurring
collection.
Authority: The Paperwork Reduction Act of 1995, 44 U.S.C.,
Chapter 35, as amended.
Dated: April 15, 2010.
Ronald Y. Spraker,
Associate General Deputy Assistant Secretary for Housing.
[FR Doc. 2010-9239 Filed 4-21-10; 8:45 am]
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