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7 CFR 1927-B, "Real Estate Title Clearance and Loan Closing"

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7 CFR 1927-B, “REAL ESTATE TITLE CLEARANCE AND LOAN CLOSING”

1/07


Section of

Regulation

Title

Form No. (if any)

Estimated No. of Respondents

Reports Filed Annually

Total Annual Responses (D) x (E)

Estimated No. of Man-hours per response

Estimated

Total Man-hours (F) x (G)

Wage Class

Total Cost (H) x (I)

(A)

(B)

(C)

(D)

(E)

(F)

(G)

(H)

(I)

(J)

REPORTING REQUIREMENTS - NO FORMS

1927.55 (c)

RD Guide Letter 1927-B-1

3,325

on occasion

3,325

0.08

266

$13.86

3,687

REPORTING REQUIREMENTS - FORMS APPROVED IN THIS DOCKET

1927.58 (d) (1)

Affidavit Regarding Work

of Improvement

1927-5

9,533

on occasion

9,533

0.17

1.621

13.86

22,467

1927.57 (d) (5)

Agreement with Prior Lienholder

1927-8

5,260

on occasion

5,260

0.08

421

92.40

38,900

1927.55 (d)

Preliminary Title Opinion

1927-9

3,525

on occasion

3,525

1.50

5,288

92.40

488,611

1927.58 (h)

Final Title Opinion

1927-10

3,525

on occasion

3,525

0.33

1,163

92.40

107,461

1927.57 (a)

Warranty Deed (state),

Joint Tenants

1927-11

4,988

on occasion

4,988

0.25

1,247

20.79

25,925

1927.57 (a)

Warranty Deed (state)

1927-12

1,663

on occasion

1,663

0.25

416

20.79

8,649

1927.56 (b)

Loan Closing Instructions/ Loan Closing Statement

1927-15

6,650

on occasion

6,650

0.50

3,325

92.40

307,230

1927-56 (b)`

Loan Closing Instructions/ Loan Closing Statement

3550-25

17,000


17,000

0.50

8,500

92.40

785,400

1927.56 (b)

Notification of Loan Closing

1927-16

18,410

on occasion

18,410

0.08

1473

13.86

20,416

1927.54 (b) & (c)

Certification of Attorney

1927-19

3,475

on occasion

3,475

0.08

278

13.86

3,853

1927.54 (a) & (d)

Certification of Title

Insurance Company

1927-20

13,045

on occasion

13,045

0.08

1,044

13.86

14,470

TOTALS: 90,399 25,042 $1,827,069



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