Advance of Escrow Funds

Forms and Documents

Document Name	Status
Form HUD-92464 Advance of Escrow Funds Form and Instruction	Modified
Form HUD-92464 Advance of Escrow Funds Form and Instruction	Modified
Supporting Statement A2.docx Supporting Statement A	2013-04-25
24CFR200-SubpartA.doc Supplementary Document	2013-01-10

IC Document Collections

IC ID	Document Title	Status
44834	Advance of Escrow Funds Form and Instruction	Modified
26981	Advance of Escrow Funds Form and Instruction	Modified

ICR Details

OMB Control No: 2502-0018	ICR Reference No: 201301-2502-003
Status: Historical Active	Previous ICR Reference No: 200911-2502-001
Agency/Subagency: HUD/OH	Agency Tracking No:
Title: Advance of Escrow Funds
Type of Information Collection: Extension without change of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved with change	Conclusion Date: 04/25/2013
	Date Received in OIRA: 01/22/2013
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	04/30/2016	36 Months From Approved	04/30/2013
Responses	7,440	0	1,224
Time Burden (Hours)	7,440	0	2,448
Cost Burden (Dollars)	0	0	0

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Abstract: The Department requires mortgagors/borrowers and mortgagors/lenders to execute a Building Loan Agreement setting forth terms and conditions under which progress payments may be advanced during project construction. These agreements are to be executed before initial endorsement of the mortgage to insurance.

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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 53210	08/31/2012
30-day Notice:	Federal Register Citation:	Citation Date:
	78 FR 4424	01/22/2013
Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 2

IC Title	Form No.	Form Name
Advance of Escrow Funds	HUD-92464	Request for Approval of Advance of Escrow Funds
Advance of Escrow Funds	HUD-92464	Request for Approval of Advance of Escrow Funds

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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	7,440	1,224	0	0	6,216	0
Annual Time Burden (Hours)	7,440	2,448	0	0	4,992	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: There has been no program change. However, the number of respondents increased due to more accurate reporting. The threshold for submissions remained the same, at three times. But the variation of participation showed from office to office resulted in a decrease in burden hours for the employees as well as lending institutions.

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Annual Cost to Federal Government: $610,080

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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