View Information Collection Request (ICR) Package

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View ICR - OIRA Conclusion

OMB Control No: 2502-0524	ICR Reference No: 202403-2502-001
Status: Active	Previous ICR Reference No: 202011-2502-005
Agency/Subagency: HUD/OH	Agency Tracking No:
Title: Home Equity Conversion Mortgage (HECM) Insurance Application for Reverse Mortgages and Related Documents
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: 04/29/2024
	Date Received in OIRA: 03/28/2024
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	04/30/2027	36 Months From Approved	04/30/2024
Responses	444,408	0	59,375
Time Burden (Hours)	222,302	0	116,399
Cost Burden (Dollars)	0	0	0

ICR Summary of Burden

	Total Approved	Previously Approved	Change Due to Adjustment in Estimate
Annual Number of Responses	444,408	59,375	385,033
Annual Time Burden (Hours)	222,302	116,399	105,903
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: No

Burden Reduction Due to:

Short Statement: This is a revision of a currently approved collection. The HECM program uses HECM specific forms and the same forms that are used for other HUD/FHA Title II Programs. The increase in burden hours is attributed to the collection of more forms and documentation that is required to receive FHA mortgage insurance.

Annual Cost to Federal Government: $82,538

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: Erica Jessup 202 402-2163

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