Federal Register: December 27, 2006 (Volume 71, Number 248)
DOCID: FR Doc E6-22163
DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT
Housing and Urban Development Department
Docket ID: [Docket No. FR-5041-N-49]
DOCUMENT ACTION: Notice.
Notice of Proposed Information Collection: Comment Request; Single Family Premium Collection Subsystem--Upfront
DATES: Comments Due Date: February 26, 2007.
The proposed information collection requirement described below will be submitted to the Office of Management and Budget (OMB) for review, as required by the Paperwork Reduction Act. The Department is soliciting public comments on the subject proposal.
Agency information collection activities; proposals, submissions, and approvals,
The Department is submitting the proposed information collection to OMB for review, as required by the Paperwork Reduction Act of 1995 (44 U.S.C. Chapter 35, as amended).
This Notice is soliciting comments from members of the public and affected agencies concerning the proposed collection of information to: (1) Evaluate whether the proposed collection is necessary for the proper performance of the functions of the agency, including whether the information will have practical utility; (2) Evaluate the accuracy of the agency's estimate of the burden of the proposed collection of information; (3) Enhance the quality, utility, and clarity of the information to be collected; and (4) Minimize the burden of the collection of information on those who are to respond; including the use of appropriate automated collection techniques or other forms of information technology, e.g., permitting electronic submission of responses.
This Notice also lists the following information:
Title of Proposal: Single Family Premium Collection Subsystem Upfront.
OMB Control Number, if applicable: 25020423.
Description of the need for the information and proposed use: The
Single Family Premium Collection SubsystemUpfront (SFPCSU) allows the
lenders to remit the Upfront Mortgage Insurance Premiums using funds
obtained from the mortgagor during the closing of the mortgage
transaction at settlement. The SFPCSU strengthens HUD's ability to
manage and process upfront singlefamily mortgage insurance premium
collections and corrections to submitted data. It also improves data
integrity for the Single Family Mortgage Insurance Program. Therefore,
the FHA approved lenders use Automated Clearing House (ACH) and/or
Electronic Data Interchange (EDI) applications for all transmissions
with SFPCSU. The authority for this collection of information is
specified in 24 CFR 203.280 and 24 CFR 203.281. The collection of
information is also used in calculating refunds due to former FHA
mortgagors when they apply for homeowner refunds of the unearned
portion of the mortgage insurance premium, 24 CFR 203.283, as
appropriate. Without this information the premium collection/monitoring
process would be severely impeded, and program data would be
unreliable. In general, the lenders use the ACH and/or EDI applications
to remit the upfront premium through SFPCSU to obtain mortgage insurance for the homeowner.
Agency form numbers, if applicable: None.
Estimation of the total numbers of hours needed to prepare the information collection including number of respondents, frequency of response, and hours of response: The public reporting burden for this collection of information is estimated to average of 5 minutes per response; the number of respondents is 10,735 generating approximately 415,469 annual responses; the frequency of response is on occasion; the estimated total number of burden hours needed to prepare the information collection is 33,328.
Status of the proposed information collection: Extension of a currently approved collection.
Authority: The Paperwork Reduction Act of 1995, 44 U.S.C., Chapter 35, as amended.
Dated: December 20, 2006.
Frank L. Davis,
General Deputy Assistant Secretary for HousingDeputy Federal Housing Commissioner.
[FR Doc. E622163 Filed 122606; 8:45 am]
BILLING CODE 421067P
FOR FURTHER INFORMATION CONTACT
Sonja Sharpe, Branch Chief, Single Family Insurance Operations Branch, Department of Housing and Urban Development, 451 Seventh Street SW., Washington, DC 20410, telephone (202) 7080614 X3391 (this is not a toll free number).