View Information Collection Request (ICR) Package

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View ICR - OIRA Conclusion

OMB Control No: 2502-0494	ICR Reference No: 201401-2502-001
Status: Historical Active	Previous ICR Reference No: 201010-2502-011
Agency/Subagency: HUD/OH	Agency Tracking No:
Title: HUD Conditional Commitment/Direct Endorsement Statement of Appraised Value
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: 05/30/2014
	Date Received in OIRA: 03/31/2014
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	05/31/2017	36 Months From Approved	05/31/2014
Responses	900,000	0	5,668
Time Burden (Hours)	108,000	0	680
Cost Burden (Dollars)	0	0	0

ICR Summary of Burden

	Total Approved	Previously Approved	Change Due to Agency Discretion
Annual Number of Responses	900,000	5,668	894,332
Annual Time Burden (Hours)	108,000	680	107,320
Annual Cost Burden (Dollars)	0	0	0

Burden increases because of Program Change due to Agency Discretion: Yes

Burden Increase Due to: Miscellaneous Actions

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

Burden Reduction Due to:

Short Statement: The number of respondents has been corrected to show all FHA approved lenders. FHA loan volume has increased, but all lenders contacted provide borrowers with appraisals in lieu of the form HUD-92800.5B. In the last 12 months 5,668 loans have required repairs and HUD-92800.5B was required to be presented to the borrower in these cases in order for the borrower to be informed regarding what repairs are necessary for the property to be safe, sound and secure. The form is required to be included in all case binders for FHA-insured mortgages. For most mortgages the form is not provided to the borrower, the form is provided to the borrower when the repairs to the home were required.

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