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Please note that the OMB number and expiration date may not have been determined when this Information Collection Request and associated Information Collection forms were submitted to OMB. The approved OMB number and expiration date may be found by clicking on the Notice of Action link below.
View ICR - OIRA Conclusion
OMB Control No:
0575-0147
ICR Reference No:
201610-0575-002
Status:
Historical Active
Previous ICR Reference No:
201310-0575-001
Agency/Subagency:
USDA/RHS
Agency Tracking No:
Title:
Real Estate Title Clearance and Loan Closing - 7 CFR 1927-B
Type of Information Collection:
Revision of a currently approved collection
Common Form ICR:
No
Type of Review Request:
Regular
OIRA Conclusion Action:
Approved with change
Conclusion Date:
02/09/2017
Retrieve Notice of Action (NOA)
Date Received in OIRA:
12/15/2016
Terms of Clearance:
In accordance with 5 CFR 1320, this ICR package has been approved for another 3 years.
Inventory as of this Action
Requested
Previously Approved
Expiration Date
02/29/2020
36 Months From Approved
02/28/2017
Responses
29,450
0
43,264
Time Burden (Hours)
3,929
0
4,194
Cost Burden (Dollars)
0
0
0
Abstract:
This regulation promulgates the policies and procedures or real estate title clearance and closing of loans, assumptions, voluntary conveyances, and credit sales in connection with insured loans. This regulation does not apply to guaranteed loans.
Authorizing Statute(s):
PL:
Pub.L. 102 - 550 501
Name of Law: Housing Act of 1949
US Code:
7 USC 1926a
Name of Law: Consolidated Farm and Rural Development Act
Citations for New Statutory Requirements:
None
Associated Rulemaking Information
RIN:
Stage of Rulemaking:
Federal Register Citation:
Date:
Not associated with rulemaking
Federal Register Notices & Comments
60-day Notice:
Federal Register Citation:
Citation Date:
81 FR 66254
09/27/2016
30-day Notice:
Federal Register Citation:
Citation Date:
81 FR 90772
12/15/2016
Did the Agency receive public comments on this ICR?
No
Number of Information Collection (IC) in this ICR:
2
IC Title
Form No.
Form Name
7 CFR 1927 - Private Sector
1927-05, 1927-08, 1927-19, 1927-20, 1927-09, 1927-10, 3550-25
Affidavit Regarding Work of Improvement
,
Agreement with Prior Lienholder
,
Preliminary Title Opinion
,
Final Title Opinion
,
Loan Closing Instructions/Loan Closing Statement
,
Cetification of Attorney
,
Certification of Title Insurance Company
7 CFR 1927-B, "Real Estate Title Clearance and Loan Closing"
1927-05, 1927-08, 1927-09, 1927-20, 1927-10, 3550-25, 1927-19
Affidavit Regarding Work of Improvement
,
Agreement with Prior Lienholder
,
Preliminary Title Opinion
,
Final Title Opinion
,
Loan Closing Instructions/Loan Closing Statement
,
Certification of Attorney
,
Certification of Title Insurance Company
ICR Summary of Burden
Total Approved
Previously Approved
Change Due to New Statute
Change Due to Agency Discretion
Change Due to Adjustment in Estimate
Change Due to Potential Violation of the PRA
Annual Number of Responses
29,450
43,264
0
0
-13,814
0
Annual Time Burden (Hours)
3,929
4,194
0
0
-265
0
Annual Cost Burden (Dollars)
0
0
0
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:
The obsoleting of form 1927-16 caused a significant decrease in burden. Responses decreased by 13,814 and burden hours by 265.
Annual Cost to Federal Government:
$3,057,880
Does this IC contain surveys, censuses, or employ statistical methods?
No
Is the Supporting Statement intended to be a Privacy Impact Assessment required by the E-Government Act of 2002?
No
Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]?
No
Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]?
No
Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)?
No
Is this ICR related to the Pandemic Response?
Uncollected
Agency Contact:
Andrea Birmingham 202 720-1489
Common Form ICR:
No
On behalf of this Federal agency, I certify that the collection of information encompassed by this request complies with 5 CFR 1320.9 and the related provisions of 5 CFR 1320.8(b)(3).
The following is a summary of the topics, regarding the proposed collection of information, that the certification covers:
(a) It is necessary for the proper performance of agency functions;
(b) It avoids unnecessary duplication;
(c) It reduces burden on small entities;
(d) It uses plain, coherent, and unambiguous language that is understandable to respondents;
(e) Its implementation will be consistent and compatible with current reporting and recordkeeping practices;
(f) It indicates the retention periods for recordkeeping requirements;
(g) It informs respondents of the information called for under 5 CFR 1320.8 (b)(3) about:
(i) Why the information is being collected;
(ii) Use of information;
(iii) Burden estimate;
(iv) Nature of response (voluntary, required for a benefit, or mandatory);
(v) Nature and extent of confidentiality; and
(vi) Need to display currently valid OMB control number;
(h) It was developed by an office that has planned and allocated resources for the efficient and effective management and use of the information to be collected.
(i) It uses effective and efficient statistical survey methodology (if applicable); and
(j) It makes appropriate use of information technology.
If you are unable to certify compliance with any of these provisions, identify the item by leaving the box unchecked and explain the reason in the Supporting Statement.
Certification Date:
12/15/2016
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