82 FR 31343 - 30-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 82, Issue 128 (July 6, 2017)

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 30 days of public comment.

[Federal Register Volume 82, Number 128 (Thursday, July 6, 2017)]
[Notices]
[Pages 31343-31344]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2017-14184]


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DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT

[Docket No. FR-5997-N-37]


30-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 Chief Information Officer, 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 30 days of public comment.

DATES: Comments Due Date: August 7, 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: HUD Desk Officer, Office of 
Management and Budget, New Executive Office Building, Washington, DC 
20503; fax:202-395-5806, Email: OIRA [email protected].

FOR FURTHER INFORMATION CONTACT: Colette Pollard, Reports Management 
Officer, QMAC, Department of Housing and Urban Development, 451 7th 
Street SW., Washington, DC 20410; email Colette [email protected], or 
telephone 202-402-3400. This is not a toll-free number. Person 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. The Federal Register notice that solicited public comment on 
the information collection for a period of 60 days was published on 
November 22, 2016 at 81 FR 83862.

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.

[[Page 31344]]

    Type of Request: Reinstatement, with change, of previously approved 
collection.
    Form Number: HUD-92901, HUD-92902, HUD-92051, HUD-92561, HUD-
92800.5B, HUD-92900-A, HUD-1, HUD-1a, 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 to 
protect the FHA insurance fund and the interests of consumers and 
potential borrowers. Specific forms and related documents are needed to 
determine the eligibility of the borrower and proposed mortgage 
transaction for FHA's insurance endorsement. Form HUD-92902, 
Certificate of HECM Counseling has been revised to: (1) Include a 
property address line for purchase transactions, (2) remove the 
reference to `HECM Saver' as current feature of the program, and (3) 
include a certification warning concerning the actions that may be 
taken against anyone who knowingly submits a false, fictitious, or 
fraudulent claim and the penalties of those actions.
    Respondents (i.e. affected public): Business or other for profit.
    Estimated Number of Respondents: 1,603.
    Estimated Number of Responses: 80,000.
    Frequency of Response: On occasion.
    Average Hours per Response: 3.41 hours.
    Total Estimated Burden: 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.

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

    Dated: June 29, 2017.
Colette Pollard,
Department Reports Management Officer, Office of the Chief Information 
Officer.
[FR Doc. 2017-14184 Filed 7-5-17; 8:45 am]
 BILLING CODE 4210-67-P