The information collection provisions associated with the NPRM for RESPA are not approved at this time. HUD is examining public comment in response to this NPRM. The preamble to the final rule will address how the agency has addressed comments related to minimizing the burden of this collection while maximizing its utility.
table that charts list comparision
Inventory as of this Action
Requested
Previously Approved
09/30/2003
09/30/2005
09/30/2003
105,300,000
0
105,300,000
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 and 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, and 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.
Real Estate Settlement Procedure Act (RESPA) Disclosures