View Information Collection Request (ICR) Package

OMB Control No: 2502-0001	ICR Reference No: 201801-2502-006
Status: Historical Active	Previous ICR Reference No: 201505-2502-002
Agency/Subagency: HUD/OH	Agency Tracking No:
Title: Personal Financial and Credit Statement
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: 07/02/2019
	Date Received in OIRA: 02/28/2019
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	07/31/2022	36 Months From Approved	07/31/2019
Responses	1,230	0	1,555
Time Burden (Hours)	9,840	0	12,440
Cost Burden (Dollars)	0	0	0

Abstract: This information collection is used to conduct a credit investigation of the sponsor, mortgagor, and general contractor to evaluate the character, capital, and ability to develop, build, complete, and maintain a multifamily project.

Authorizing Statute(s): None

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:
	83 FR 48862	09/27/2018
30-day Notice:	Federal Register Citation:	Citation Date:
	84 FR 3223	02/11/2019
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
Personal Financial and Credit Statement	HUD-92417

ICR Summary of Burden

	Total Approved	Previously Approved	Change Due to Agency Discretion
Annual Number of Responses	1,230	1,555	-325
Annual Time Burden (Hours)	9,840	12,440	-2,600
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: Yes

Burden Reduction Due to: Changing Forms

Short Statement: The number of respondents has decreased from the previous information collection because HUD’s previous submission included corporations or partnerships in the number of respondents. Form HUD-92417 is only for individual mortgagors and principals. Corporate or partnership mortgagors do not use form HUD-92417; they are required to submit financial statements to demonstrate credit worthiness (OMB Control No. 2502-0029). The form HUD-2530 is a separate loan application exhibit accompanies multifamily loan applications. It is reviewed by Asset Management to verify the list of projects a principal may have. The Previous Participation Certification is the document, which contains eight statements that catches all changes that may have occurred with the Borrower(s). This certification is signed by the borrower with all the legal authority.

Annual Cost to Federal Government: $24,507

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? Uncollected

Agency Contact: Sylvia Chatman 2027080614 ext. 2994

View ICR - OIRA Conclusion