Home Equity Conversion Mortgage (HECM) Insurance Application for Reverse Mortgages and Related Documents

Forms and Documents

Document	Type	Status	Availability
Form HUD-92902 Home Equity Conversion Mortgage (HECM) Insurance Application for Reverse Mortgages and Related Documents	Form	Modified	Available
83C 2502-0524.doc	Justification for No Material/Nonsubstantive Change	Uploaded 2006-09-29	Available

IC Document Collections

IC ID	Collection	Type	Status	Form
27279	Home Equity Conversion Mortgage (HECM) Insurance Application for Reverse Mortgages and Related Documents	Form	Modified

ICR Details

OMB Control No: 2502-0524	ICR Reference No: 200609-2502-004
Status: Historical Active	Previous ICR Reference No: 200407-2502-009
Agency/Subagency: HUD/OH	Agency Tracking No:
Title: Home Equity Conversion Mortgage (HECM) Insurance Application for Reverse Mortgages and Related Documents
Type of Information Collection: No material or nonsubstantive change to a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved without change	Conclusion Date: 10/11/2006
	Date Received in OIRA: 09/29/2006
Terms of Clearance: In its next submission of this information collection, the agency is instructed to provide the Line of Business and Subfunction under the Federal Enterprise Architecture Business Reference Module.

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	09/30/2007	09/30/2007	09/30/2007
Responses	102,000	0	102,000
Time Burden (Hours)	22,950	0	22,950
Cost Burden (Dollars)	0	0	0

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Abstract: The HECM reverse mortgage application and related documents are used to determine the eligibility of the borrower and proposed mortgage transaction for FHA insurance endorsement. This submission is a consolidation of additional consumer notification requirements formerly approved under 2502-0534 and 2502-0546.

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Authorizing Statute(s): None

Citations for New Statutory Requirements: None

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
	Not associated with rulemaking

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Federal Register Notices & Comments

Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 1

IC Title	Form No.	Form Name
Home Equity Conversion Mortgage (HECM) Insurance Application for Reverse Mortgages and Related Documents	HUD-92900-A, FANNIE-MAE-1009, HUD-92901, HUD-92902	Certificate of HECM Counseling ,   Anti Churning Disclosure ,   HUD-92900-A ,   Fannie-Mae 1009

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ICR Summary of Burden

	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	102,000	102,000	0	0	0	0
Annual Time Burden (Hours)	22,950	22,950	0	0	0	0
Annual Cost Burden (Dollars)	0	0	0	0	0	0

Burden increases because of Program Change due to Agency Discretion: No

Burden Increase Due to:

Burden decreases because of Program Change due to Agency Discretion: No

Burden Reduction Due to:

Short Statement:

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Annual Cost to Federal Government: $0

Does this IC contain surveys, censuses, or employ statistical methods? No

Is the Supporting Statement intended to be a Privacy Impact Assessment required by the E-Government Act of 2002? No

Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]? Uncollected

Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]? Uncollected

Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)? Uncollected

Is this ICR related to the Pandemic Response? Uncollected

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Common Form ICR:  No

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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:

(a) It is necessary for the proper performance of agency functions;

(b) It avoids unnecessary duplication;

(c) It reduces burden on small entities;

(d) It uses plain, coherent, and unambiguous language that is understandable to respondents;

(e) Its implementation will be consistent and compatible with current reporting and recordkeeping practices;

(f) It indicates the retention periods for recordkeeping requirements;

(g) It informs respondents of the information called for under 5 CFR 1320.8 (b)(3) about:

(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;

(h) It was developed by an office that has planned and allocated resources for the efficient and effective management and use of the information to be collected.

(i) It uses effective and efficient statistical survey methodology (if applicable); and

(j) It makes appropriate use of information technology.

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.

Certification Date: 09/29/2006

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