Adjustable Rate Mortgages (ARMS)

ICR 200102-2502-002

OMB: 2502-0322

Federal Form Document

Forms and Documents
Document
Name
Status
No forms / supporting documents in this ICR. Check IC Document Collections.
IC Document Collections
IC ID
Document
Title
Status
27125
Migrated
ICR Details
2502-0322 200102-2502-002
Historical Active 199710-2502-007
HUD/OH
Adjustable Rate Mortgages (ARMS)
Extension without change of a currently approved collection   No
Regular
Approved without change 03/16/2001
Retrieve Notice of Action (NOA) 02/13/2001
  Inventory as of this Action Requested Previously Approved
05/31/2004 05/31/2004 03/31/2001
100,000 0 20,000
7,000 0 1,400
0 0 0

The Housing and Urban-Rural Recover Act of 1983 amended the National Housing Act topermit FHA to insure adjustable rate mortgages (ARMS). The terms of all ARMS insured by HUD-FHA are required to be fully disclosed as part of the loan approval process. Additionally, an annual disclosure is required to reflect the adjustment to the interest rate and monthly mortgage amount.

None
None


No

1
IC Title Form No. Form Name
Adjustable Rate Mortgages (ARMS)

  Total Approved Previously Approved Change Due to New Statute Change Due to Agency Discretion Change Due to Adjustment in Estimate Change Due to Potential Violation of the PRA
Annual Number of Responses 100,000 20,000 0 0 80,000 0
Annual Time Burden (Hours) 7,000 1,400 0 0 5,600 0
Annual Cost Burden (Dollars) 0 0 0 0 0 0
No
No

$0
No
No
Uncollected
Uncollected
Uncollected
Uncollected

  No

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.
02/13/2001


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