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.
US Code:
12
USC 1701z1 Name of Law: National Housing Act
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.