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.
The lender should be able to
review the builder's 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 30,000 new
construction cases per year, the total burden hours will be 4,500.
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 fewer new construction loans being insured and
expected to be insured during the collection period.
$4,659
No
No
No
No
No
Uncollected
Ada Bohorfoush
2024025393
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.