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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:
2502-0059
ICR Reference No:
202304-2502-004
Status:
Active
Previous ICR Reference No:
202107-2502-001
Agency/Subagency:
HUD/OH
Agency Tracking No:
2502-0059
Title:
Informed Consumer Choice Notice and Application for FHA Insured Mortgage
Type of Information Collection:
Revision of a currently approved collection
Common Form ICR:
No
Type of Review Request:
Regular
OIRA Conclusion Action:
Approved without change
Conclusion Date:
10/10/2023
Retrieve Notice of Action (NOA)
Date Received in OIRA:
08/04/2023
Terms of Clearance:
Upon resubmission of this information collection for OMB Approval, the agency will develop and incorporate into the Supporting Statement new estimates of the time burden associated with the use of the URLA as well as the time burdens associated with gathering the documentation necessary to demonstrate eligibility for the program.
Inventory as of this Action
Requested
Previously Approved
Expiration Date
10/31/2026
36 Months From Approved
12/31/2023
Responses
6,212,229
0
5,798,628
Time Burden (Hours)
737,367
0
692,541
Cost Burden (Dollars)
0
0
0
Abstract:
The forms and related documents are needed to determine the eligibility of the borrower and proposed mortgage transaction for FHA's insurance endorsement. Lenders seeking FHA's insurance prepare these forms.
Authorizing Statute(s):
US Code:
12 USC 1709
Name of Law: National Housing Act
Citations for New Statutory Requirements:
PL: Pub.L. 110 - 185 H.R.5140 Name of Law: Economic Stimulus Act of 2008
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:
87 FR 32182
05/27/2022
30-day Notice:
Federal Register Citation:
Citation Date:
88 FR 48490
07/27/2023
Did the Agency receive public comments on this ICR?
No
Number of Information Collection (IC) in this ICR:
1
IC Title
Form No.
Form Name
Application for FHA-Insured Mortgage
HUD-92544, HUD-92900-A, HUD-92900-B , HUD-92900 LT, HUD-92561, Consumer Choice Note
Consumer Choice Note
,
HUD Addendum to Uniform Residential Loan Application
,
Warranty of Completion of Construction
,
Important Notice to Homebuyers
,
FHA Loan Underwriting and Transmittal Summary
,
Borrower's Contract with Respect to Hotel and Transient Use of Property
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
6,212,229
5,798,628
0
0
413,601
0
Annual Time Burden (Hours)
737,367
692,541
0
0
44,826
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:
there is a change/adjustment due to an increase in FHA endorsement of mortgages and rising hourly rate reported by the Department of Labor.
Annual Cost to Federal Government:
$2,960,022
Does this IC contain surveys, censuses, or employ statistical methods?
No
Does this ICR request any personally identifiable information (see
OMB Circular No. A-130
for an explanation of this term)? Please consult with your agency's privacy program when making this determination.
No
Does this ICR include a form that requires a Privacy Act Statement (see
5 U.S.C. §552a(e)(3)
)? Please consult with your agency's privacy program when making this determination.
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?
No
Agency Contact:
Carmen Mead 202 402-6651 carmen.c.mead@hud.gov
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:
08/04/2023
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