It is noted that
the RESPA disclosures package has been in violation since 10/31/00.
HUD will report this violation in next year's ICB, and will put in
place procedures to ensure that no such future violations of the
PRA occur. HUD is undertaking a rulemaking to modify the
requirements associated with this collection. HUD shall follow the
PRA in clearing the changes to this package (including a submission
under the PRA associated with the NPRM, once the NPRM has been
published).
Inventory as of this Action
Requested
Previously Approved
09/30/2003
09/30/2003
105,300,000
0
0
6,500,000
0
0
0
0
0
The Real Estate Settlement Procedures
Act of 1974 (RESPA), 12 U.S.C. 2601 et.seq., and the implementing
Regulation X, codified at 24 CFR 3500, require settlement providers
to give homebuyers certain disclosure information at or before
settlement and pursuant to the servicing of the loan and escrow
account. This includes a Special Information Booklet, a Good Faith
estimate, an Initial Servicing Disclosure, the Form HUD-1 or Form
HUD-1A, and when applicable an Initial Escrow Account Statement an
Annual Escrow Account Statement an Escrow Account Disbursement
Disclosure, an Affiliated......
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.