Application for HUD/FHA Insured Mortgage “Hope for Homeowners”

Forms and Documents

Document Name	Status
Form HUD 92900 Application for HUD/FHA Insured Mortgage “Hope for Homeowners” Form and Instruction	Modified
Emergency Letter 2502-0579.docx Supplementary Document	2010-12-03
92900-H4H.pdf Supplementary Document	2010-12-03
HUD-92918.pdf Supplementary Document	2010-12-03
92917-H4H.pdf Supplementary Document	2010-12-03
92915-H4H.pdf Supplementary Document	2010-12-03
EPM v3 10 14 2009 (2).doc Supplementary Document	2010-12-02
2502-0579_Supporting_Statements_A_V4.docx Supporting Statement A	2010-12-30

IC Document Collections

IC ID	Document Title	Status
187611	Application for HUD/FHA Insured Mortgage “Hope for Homeowners” Form and Instruction	Modified

ICR Details

OMB Control No: 2502-0579	ICR Reference No: 201012-2502-001
Status: Historical Active	Previous ICR Reference No: 200908-2502-004
Agency/Subagency: HUD/OH	Agency Tracking No:
Title: Application for HUD/FHA Insured Mortgage “Hope for Homeowners”
Type of Information Collection: Revision of a currently approved collection	Common Form ICR:  No
Type of Review Request: Emergency	Approval Requested By: 12/17/2010
OIRA Conclusion Action: Approved with change	Conclusion Date: 12/30/2010
	Date Received in OIRA: 12/03/2010
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	06/30/2011	6 Months From Approved	11/30/2012
Responses	882,242	0	486,313
Time Burden (Hours)	146,096	0	339,549
Cost Burden (Dollars)	0	0	0

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Abstract: This information is collected on new mortgages offered by FHA approved mortgagees to mortgagors who are at risk of losing their homes to foreclosure. The new FHA insured mortgages refinance the borrowers existing mortgage at a significatnt writedown. Under the program the mortgagors share the newly created equity (Exit Premium) with FHA.

Emergency Justfication: The emergency review is necessary because a borrower certification is required by Section 1481(d) of The Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, which was effective sixty days from enactment of the Act. Therefore all FHA Short Refinance loans for which case numbers were assigned on or after September 19, 2010, must contain the borrower certification. Additionally FHA Short Refinance is designed to address the urgent need for assistance to homeowners struggling in the face of unaffordable mortgages, declining values and difficult economic conditions, and is currently operational.

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Authorizing Statute(s): PL: Pub.L. 110 - 289 2654 Name of Law: Housing and Economic Recovery Act
   US Code: 12 USC 1701z-22 Name of Law: zfederal Housing Administration (FHA)
  

Citations for New Statutory Requirements: None

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
2580-AA00	Final or interim final rulemaking	73 FR 194	10/06/2008

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Federal Register Notices & Comments
30-day Notice:	Federal Register Citation:	Citation Date:
	75 FR 76749	12/09/2010
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
Application for HUD/FHA Insured Mortgage “Hope for Homeowners”	HUD 92915, HUD 92900, HUD 92917 HFH	FHA Hope for Homeowner attachment to FHA Loan Underwriting and Transmittal Summary ,   Hope for Homeowners Consumer Disclosure and Certification Form ,   Subordinate Lien Upfront Payment Worksheet

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ICR Summary of Burden

	Total Approved	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	882,242	486,313	0	395,929	0	0
Annual Time Burden (Hours)	146,096	339,549	0	-193,453	0	0
Annual Cost Burden (Dollars)	0	0	0	0	0	0

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

Burden Increase Due to:

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

Burden Reduction Due to: Miscellaneous Actions

Short Statement: FHA has revised the burden estimates taking both the reduced participation and potential final year increase in consideration.

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Annual Cost to Federal Government: $11,375,777

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]? No

Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]? Yes

Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)? No

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: 12/03/2010

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