Secondary Market for Section 504 First Mortgage Loan Pool Program

Forms and Documents

Document Name	Status

No forms / supporting documents in this ICR. Check IC Document Collections.

IC Document Collections

IC ID	Document Title	Status
190059	Secondary Market for Section 504 First Mortgage Loan Pool Program	New

ICR Details

OMB Control No: 3245-0367	ICR Reference No: 200907-3245-001
Status: Historical Inactive	Previous ICR Reference No:
Agency/Subagency: SBA	Agency Tracking No:
Title: Secondary Market for Section 504 First Mortgage Loan Pool Program
Type of Information Collection: New collection (Request for a new OMB Control Number)	Common Form ICR:  No
Type of Review Request: Emergency	Approval Requested By: 08/01/2009
OIRA Conclusion Action: Preapproved	Conclusion Date: 10/26/2009
	Date Received in OIRA: 07/24/2009
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	04/30/2010	6 Months From Approved
Responses	12,490	0	0
Time Burden (Hours)	33,075	0	0
Cost Burden (Dollars)	0	0	0

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Abstract: This information collection captures the terms and conditions of the Small Business Administration's (SBA) new Secondary Market for Section 504 First Mortgage Loan Pool Program. SBA needs this information collection is order to identify program participants, terms of financial transactions involving federal government guaranties, and reporting on program efficiency. This information collection is associated with Interim Final Rule,

Emergency Justfication: Section 503 of the American Recovery and Reinvestment Act of 2009 (the Recovery Act), P.L. 111-5 authorizes the Small Business Administration (SBA) to establish the SBA Secondary Market Guarantee Authority within SBA to provide a Federal guarantee for pools of 504 First Mortgage loans that are to be sold to third party investors. In order to implement this program without further delay, SBA is requesting approval on an emergency basis for this new information collection that is the central to the pool application and guarantee process.

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Authorizing Statute(s): PL: Pub.L. 111 - 5 503 Name of Law: American Recovery and Reinvestment Act of 2009
  

Citations for New Statutory Requirements: None

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
3245-AF90	Final or interim final 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
Secondary Market for Section 504 First Mortgage Loan Pool Program	SBA Form 2404, SBA Form 2402, SBA Form 2401 (Final Version 10/09), SBA Form 2403

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ICR Summary of Burden

	Total Request	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	12,490	0	0	12,490	0	0
Annual Time Burden (Hours)	33,075	0	0	33,075	0	0
Annual Cost Burden (Dollars)	0	0	0	0	0	0

Burden increases because of Program Change due to Agency Discretion: Yes

Burden Increase Due to: Miscellaneous Actions

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

Burden Reduction Due to:

Short Statement: New information collection

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Annual Cost to Federal Government:

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)? Yes

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: 07/24/2009

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