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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:
2590-0004
ICR Reference No:
201008-2590-002
Status:
Historical Active
Previous ICR Reference No:
200902-2590-003
Agency/Subagency:
FHFA
Agency Tracking No:
Title:
Monthly Survey of Rates and Terms on Conventional 1-Family NonFarm Mortgage Loans (MIRS)
Type of Information Collection:
Extension without change of a currently approved collection
Common Form ICR:
No
Type of Review Request:
Regular
OIRA Conclusion Action:
Approved with change
Conclusion Date:
03/29/2011
Retrieve Notice of Action (NOA)
Date Received in OIRA:
08/27/2010
Terms of Clearance:
FHFA and OMB agree that this survey is a convenience sample, that the sample may not be representative, and that all public disclosures of this data should caveat these limitations. FHFA is given an abbreviated 18 month clearance. During this time, FHFA will seek to replace or amend this survey to correct for its limitations and will present revisions to OMB at the time of next submission.
Inventory as of this Action
Requested
Previously Approved
Expiration Date
03/31/2014
18 Months From Approved
03/31/2011
Responses
608
0
1,200
Time Burden (Hours)
200
0
600
Cost Burden (Dollars)
7,000
0
21,000
Abstract:
The MIRS provides monthly information on interest rates, loan terms, and house prices by property type (all, new, previously occupied), by loan type (fixed- or adjustable-rate), and by lender type (savings associations, mortgage companies, commercial banks, and savings banks), as well as information on 15-year and 30-year fixed-rate loans. In addition, the MIRS provides quarterly information on conventional loans by major metropolitan area and by Federal Home Loan Bank district.
Authorizing Statute(s):
US Code:
12 USC 1437 note
Name of Law: Federal Home Loan Bank Act
US Code:
12 USC 4542
Name of Law: Federal Housing Enterprises Financial Safety and Soundness 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:
75 FR 26756
05/12/2010
30-day Notice:
Federal Register Citation:
Citation Date:
75 FR 52747
08/27/2010
Did the Agency receive public comments on this ICR?
Yes
Number of Information Collection (IC) in this ICR:
1
IC Title
Form No.
Form Name
Monthly Survey of Rates and Terms on Conventional 1-Family NonFarm Mortgage Loans (MIRS)
FHFA Form #075
Monthly Survey of Rates and Terms on Conventional 1-Family NonFarm Mortgage Loans
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
608
1,200
0
0
-592
0
Annual Time Burden (Hours)
200
600
0
0
-400
0
Annual Cost Burden (Dollars)
7,000
21,000
0
0
-14,000
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:
Annual Cost to Federal Government:
$80,125
Does this IC contain surveys, censuses, or employ statistical methods?
Yes
Part B of Supporting Statement
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:
Isabella Sammons 202 414-3790 Isabella.Sammons@fhfa.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:
08/27/2010
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