APPROVED FOR ONE
YEAR AND THE PACKAGE MUST BE RESUBMITTED WHEN THE RUL GOES FINAL,
INCLUDING ADDITIONAL INFORMATION ON THE INCREASED REPORTIN AND
RECORDKEEPING REQUIREMENTS DUE TO SECTION 3500.2 (r) (1), WHICH
INCLUDES THE MAKING OF A LOAN AS A SETTLEMENT SERVICE COVERED BY
SECTI 8 OF RESPA. THE DEPARTMENT MUST ALSO FURTHER JUSTIFY ITS
CLAIM THAT T HUD-1 IMPOSES NO ADDITIONAL BURDEN DUE TO ITS
CUSTOMARY USE IN THE INDUSTRY--WE ARE INCLUDING THE BURDEN FOR THE
HUD-1 (TRANSFERRED FROM OMB DOCKET NUMBER 2502-0249) UNTIL FURTHER
DOCUMENTATION IS PRESENTED TO OMB CONCERNING HUD-1'S USAGE.
Inventory as of this Action
Requested
Previously Approved
12/31/1986
12/31/1986
04/30/1988
3,470,000
0
3,470,000
1,459,250
0
867,500
0
0
0
NEEDED TO INFORM HOMEBUYERS AND
SELLERS OF THE COST ESTIMATES RELATED SETTLEMENT SERVICES AND
FULFILL THE REQUIREMENTS OF SECTION 4 AND 5 OF THE REAL ESTATE
SETTLEMENT PROCEDURES ACT (RESPA) AND REGULATIONS OF HUD THAT APPLY
TO RESPA. RESPONDENTS ARE MORTGAGE LENDERS, TITLE COMPANIES, ESCROW
COMPANIES, SETTLEMENT AGENTS AND ATTORNEYS AND HUD WHEN IT ACTS AS
LENDER ON HUD-HELD PROPERTIES FOR SALE.
On behalf of this Federal agency, I certify that
the collection of information encompassed by this request complies
with 5 CFR 1320.9 and the related provisions of 5 CFR
1320.8(b)(3).
The following is a summary of the topics, regarding
the proposed collection of information, that the certification
covers:
(i) Why the information is being collected;
(ii) Use of information;
(iii) Burden estimate;
(iv) Nature of response (voluntary, required for a
benefit, or mandatory);
(v) Nature and extent of confidentiality; and
(vi) Need to display currently valid OMB control
number;
If you are unable to certify compliance with any of
these provisions, identify the item by leaving the box unchecked
and explain the reason in the Supporting Statement.