Builders request approval for changes
to accepted drawings and specifications of proposed construction
properties as required by homebuyers, or determined by the builder
to increase market appeal. Builders submit the forms to lenders,
who review them and submit them to HUD for approval.
The program has evolved in the
last ten years and lenders no longer use this form for anything
other than the 203k loans, as a result the number of times the form
is used has has diminished. The program allows lenders to use the
form but as a practical matter, the form is no longer necessary for
changes to new construction where a local government inspects and
issues occupancy permits. The form is now used only for changes in
plans to a 203k rehabilitation plan. This accounts for the decrease
in burden and responses.
$7,751
No
Yes
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.