HUD requires the builder to provide information that notes an adverse site/location factor(s) on the property, including floodplains. Lenders review the form and send it to HUD. This is done so that HUD does not insure a mortgage on property that poses a risk to health or safety of the occupant.
This is an extension of a currently approved collection. There are approximately 5,307 builders and 5,307 lenders involved in this information collection. The builder will take about 10 minutes to complete the BuilderÂs Certification (form HUD-92541) based on information and data the builder gets from its engineers prior to the property being developed.
The lender should be able to review the builderÂs entries in about 5 minutes. Accordingly, HUD estimates that the entire information collection burden will be 15 minutes per case. Based upon an average of approximately 65,600 new construction cases per year, the total burden hours will be 9,848. While the information collected regarding floodplains may (at the option of the builder) be different, there are no expected changes in the burden hours. The decrease in the number burden hours results from lenders who now submit the case files electronically.
Although most lenders now submit the case file electronically after the builders and lenders reviews the collected information to HUD, when requested, other lenders are on test case bases and mail case file to the Homeownership Centers, the burden hours for the lenders remains the same.
$0
No
No
Uncollected
Uncollected
No
Uncollected
Kenneth Walker 2027082121 ext. 4026
No
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.