81 FR 83862 - 60-Day Notice of Proposed Information Collection: Home Equity Conversion Mortgage (HECM) Insurance Application for the Origination of Reverse Mortgages and Related Documents

DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT

Federal Register Volume 81, Issue 225 (November 22, 2016)

HUD is seeking approval from the Office of Management and Budget (OMB) for the information collection described below. In accordance with the Paperwork Reduction Act, HUD is requesting comment from all interested parties on the proposed collection of information. The purpose of this notice is to allow for 60 days of public comment.

[Federal Register Volume 81, Number 225 (Tuesday, November 22, 2016)]
[Notices]
[Page 83862]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2016-28130]


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DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT

[Docket No. FR-5913-N-33]


60-Day Notice of Proposed Information Collection: Home Equity 
Conversion Mortgage (HECM) Insurance Application for the Origination of 
Reverse Mortgages and Related Documents

AGENCY: Office of the Assistant Secretary for Housing-Federal Housing 
Commissioner, HUD.

ACTION: Notice.

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SUMMARY: HUD is seeking approval from the Office of Management and 
Budget (OMB) for the information collection described below. In 
accordance with the Paperwork Reduction Act, HUD is requesting comment 
from all interested parties on the proposed collection of information. 
The purpose of this notice is to allow for 60 days of public comment.

DATES: Comments Due Date: January 23, 2017.

ADDRESSES: Interested persons are invited to submit comments regarding 
this proposal. Comments should refer to the proposal by name and/or OMB 
Control Number and should be sent to: Colette Pollard, Reports 
Management Officer, QDAM, Department of Housing and Urban Development, 
451 7th Street SW., Room 4176, Washington, DC 20410-5000; telephone 
202-402-3400 (this is not a toll-free number) or email at 
[email protected] for a copy of the proposed forms or other 
available information. Persons with hearing or speech impairments may 
access this number through TTY by calling the toll-free Federal Relay 
Service at (800) 877-8339.

FOR FURTHER INFORMATION CONTACT: Cheryl Walker, Director, Home 
Valuation Policy Division, Department of Housing and Urban Development, 
451-7th Street SW., Washington, DC 20410; email Colette Pollard at 
[email protected] or telephone 202-402-3400. This is not a toll-
free number. Persons with hearing or speech impairments may access this 
number through TTY by calling the toll-free Federal Relay Service at 
(800) 877-8339.
    Copies of available documents submitted to OMB may be obtained from 
Ms. Pollard.

SUPPLEMENTARY INFORMATION: This notice informs the public that HUD is 
seeking approval from OMB for the information collection described in 
Section A.

A. Overview of Information Collection

    Title of Information Collection: Home Equity Conversion Mortgage 
(HECM) Insurance Application for the Origination of Reverse Mortgages 
and Related Documents.
    OMB Approval Number: 2502-0524.
    Type of Request: Revision.
    Form Number: HUD-92901, HUD-92902, HUD-92051, HUD-92561, HUD-
92800.5b, HUD-92900-A, HUD-1, HUD-1Addendum, Fannie Mae (FNMA)-1009, 
FNMA-1025, FNMA-1003, FNMA-1004, FNMA-1004c, FNMA-1073.
    Description of the need for the information and proposed use: The 
Home Equity Conversion Mortgage (HECM) program is the Federal Housing 
Administration's (FHA) reverse mortgage program that enables seniors 
who have equity in their homes to withdraw a portion of the accumulated 
equity. The intent of the HECM Program is to ease the financial burden 
on elderly homeowners facing increased health, housing, and subsistence 
costs at a time of reduced income. The currently approved information 
collection is necessary to screen mortgage insurance applications in 
order to protect the FHA insurance fund and the interests of consumers 
and potential borrowers.
    Respondents: 1,603.
    Estimated Number of Respondents: 1,603.
    Estimated Number of Responses: 80,000.
    Frequency of Response: Occasionally.
    Average Hours per Response: 3.41.
    Total Estimated Burdens: $11,366,400.

B. Solicitation of Public Comment

    This notice is soliciting comments from members of the public and 
affected parties concerning the collection of information described in 
Section A on the following:
    (1) Whether the proposed collection of information is necessary for 
the proper performance of the functions of the agency, including 
whether the information will have practical utility; (2) The accuracy 
of the agency's estimate of the burden of the proposed collection of 
information; (3) Ways to enhance the quality, utility, and clarity of 
the information to be collected; and (4) Ways to minimize the burden of 
the collection of information on those who are to respond; including 
through the use of appropriate automated collection techniques or other 
forms of information technology, e.g., permitting electronic submission 
of responses.
    HUD encourages interested parties to submit comment in response to 
these questions.

C. Authority

    Section 3507 of the Paperwork Reduction Act of 1995, 44 U.S.C. 
Chapter 35.

    Dated: November 10, 2016.
Janet M. Golrick,
Associate General Deputy Assistant Secretary for Housing Associate 
Deputy Federal Housing Commissioner.
[FR Doc. 2016-28130 Filed 11-21-16; 8:45 am]
 BILLING CODE 4210-67-P