Direct Endorsement Underwriter/HUD Reviewer - Analysis of Appraisal Report

Forms and Documents

Document Name	Status
Form HUD-54114 Direct Endorsement Underwriter/HUD Reviewer - Analysis of Appraisal Report Form	Modified
12USC3347-3351.doc Supplementary Document	2012-12-27
Supporting_Statement_A 2502-0477.docx Supporting Statement A	2013-05-02

IC Document Collections

IC ID	Document Title	Status
27220	Direct Endorsement Underwriter/HUD Reviewer - Analysis of Appraisal Report Form	Modified

ICR Details

OMB Control No: 2502-0477	ICR Reference No: 201206-2502-001
Status: Historical Active	Previous ICR Reference No: 200911-2502-002
Agency/Subagency: HUD/OH	Agency Tracking No:
Title: Direct Endorsement Underwriter/HUD Reviewer - Analysis of Appraisal Report
Type of Information Collection: Revision of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved with change	Conclusion Date: 05/07/2013
	Date Received in OIRA: 01/22/2013
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	05/31/2016	36 Months From Approved	05/31/2013
Responses	127,000	0	558,319
Time Burden (Hours)	6,350	0	27,916
Cost Burden (Dollars)	0	0	0

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Abstract: The information collection is used to capture information on appraisial reports considered deficient by the underwriter, and to document efforts to resolve any discrepancies. The basic respondents are lender underwritters.

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Authorizing Statute(s): None

Citations for New Statutory Requirements: None

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
	Not associated with rulemaking

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Federal Register Notices & Comments
60-day Notice:	Federal Register Citation:	Citation Date:
	77 FR 45649	08/01/2012
30-day Notice:	Federal Register Citation:	Citation Date:
	78 FR 4160	01/18/2013
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
Direct Endorsement Underwriter/HUD Reviewer - Analysis of Appraisal Report	HUD-54114	Direct Endorsement Underwriter/HUD Reviewer Analysis of Appraisal Report

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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	127,000	558,319	0	0	-431,319	0
Annual Time Burden (Hours)	6,350	27,916	0	0	-21,566	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: No

Burden Reduction Due to:

Short Statement: The decrease in the numbers of respondents and responses and burden hours are due to the increasing reluctance of DE Underwriters to change values in FHA Appraisal reports. Lenders are held responsible for the DE underwriters decisions and poor decisions can result in requests for indemnifications if the loan defaults and the appraised value was the basis for the default. Increasingly lenders are instructing their underwriters to change the value or the valuation conditions only in rare instances when the underwriter has persuasive evidence that the changes are necessary.

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Annual Cost to Federal Government: $11,233

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]? No

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: 01/22/2013

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