View Information Collection Request (ICR) Package

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View ICR - OIRA Conclusion

OMB Control No: 2502-0416	ICR Reference No: 201205-2502-012
Status: Historical Active	Previous ICR Reference No: 200906-2502-004
Agency/Subagency: HUD/OH	Agency Tracking No:
Title: Request for Termination of Multifamily Mortgage Insurance
Type of Information Collection: Extension without change of a currently approved collection	Common Form ICR: Yes
Type of Review Request: Regular
OIRA Conclusion Action: Approved with change	Conclusion Date: 10/26/2012
	Date Received in OIRA: 06/19/2012
Terms of Clearance: As shown by the changes made to this collection, HUD shall continue to specify to whom respondents should submit comments on each collection instrument.

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	10/31/2015	36 Months From Approved	10/31/2012
Responses	2,086	0	1,575
Time Burden (Hours)	368	0	328
Cost Burden (Dollars)	0	0	0

ICR Summary of Burden

	Total Approved	Previously Approved	Change Due to Adjustment in Estimate
Annual Number of Responses	2,086	1,575	511
Annual Time Burden (Hours)	368	328	40
Annual Cost Burden (Dollars)	0	0	0

Burden increases because of Program Change due to Agency Discretion: No

Burden Increase Due to:

Burden decreases because of Program Change due to Agency Discretion: No

Burden Reduction Due to:

Short Statement: There has been an increase in the number of requests to prepay a loan and terminate the multifamily mortgage insurance. This is due to the decrease in interest rates in the previous few years whereby owners have taken advantage and either prepaid or refinanced their existing FHA-insured loans to recapitalize their projects and preserve them as affordable housing. Therefore, adjustments were necessary as the number of responses increased from 1,300 to 2,086 since the last submission. Increased burden hours denote a more thorough explanation of the information provided.

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