Information collected will provide HUD data on the default and delinquency rate of households who receive downpayment assistance from ADDI. Since ADDI is of relatively recent vintage (i.e., 2003) and so may not have been in existence long enough to provide a complete picture of defaults and delinquencies, the research at hand will also attempt to ascertain the default and delinquency rates for that portion of the HOME program, which like its younger sibling, dispenses downpayment assistance. Information related to defaults and delinquencies will be collected from state and local agencies that dispense downpayment assistance through ADDI and/or HOME.
The U.S. Senate Committee Report of the FY 2006 Transportation, Treasury and HUD Appropriations Act directed the U.S. Department of Housing and Urban Development (HUD) to report on the default and delinquency rate of households who receive downpayment assistance through the American Dream Downpayment Initiative (ADDI).
The primary objective of this study is to provide an estimate of the delinquency and default rate among homebuyers assisted through both ADDI and the HOME Investment Partnerships Program (HOME). HOME is a pre-existing formula grant program which is similar to ADDI (also a formula grant program) in that it provides downpayment assistance (DPA), but also provides a number of other forms of housing assistance as well. Both the ADDI and HOME Programs are administered by State governments as well as agencies of local government.
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.