Study of Making Home Affordable (MHA) Program Performance

Forms and Documents

Document Name	Status
Part B (clean) Update.docx Supporting Statement B	2013-09-30
Part A (clean).doc Supporting Statement A	2013-09-30

IC Document Collections

IC ID	Document Title	Status
208390	Hamp Re-default Survey Other-Cover Letter	New

ICR Details

OMB Control No: 1505-0249	ICR Reference No: 201308-1505-001
Status: Historical Active	Previous ICR Reference No:
Agency/Subagency: TREAS/DO	Agency Tracking No:
Title: Study of Making Home Affordable (MHA) Program Performance
Type of Information Collection: New collection (Request for a new OMB Control Number)	Common Form ICR:  No
Type of Review Request: Emergency	Approval Requested By: 09/30/2013
OIRA Conclusion Action: Approved with change	Conclusion Date: 09/30/2013
	Date Received in OIRA: 09/30/2013
Terms of Clearance: Following its survey, Treasury will report back to OMB its achieved response rate along with the non-response bias analysis.

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	03/31/2014	6 Months From Approved
Responses	2,400	0	0
Time Burden (Hours)	600	0	0
Cost Burden (Dollars)	0	0	0

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Abstract: Authorized under the Emergency Economic Stabilization Act (EESA) of 2008 (Pub. L. 110-343), the Department of the Treasury established the Making Home Affordable Program (MHA), a voluntary foreclosure prevention program, to help stabilize the housing market. Under MHA, the Department pays financial incentives to homeowners, servicers and investors to facilitate loan modifications and other foreclosure alternatives. MHA includes, among other things, the Home Affordable Modification Program (HAMP). HAMP is designed to reduce qualifying homeowner's first lien mortgage payments to an affordable level. The Department, through its financial agent, plans to conduct a survey of homeowners who have received mortgage modifications under HAMP and subsequently missed three consecutive payments, in order to collect information about the reasons for loss of good standing and the homeowner's experience during the HAMP modification process.

Emergency Justfication: Treasury’s Home Affordable Modification Program (HAMP) is designed to prevent foreclosure, with the goal of helping families keep their homes. Understanding why homeowners default on HAMP mortgage modifications is critical to the success of the program. Information that is gathered in the survey will be used to improve program guidelines in ways that can minimize re-defaults. If the survey is administered on an expedited basis, more homeowners would benefit from any future revisions to HAMP guidelines. In addition, we expect that the target population will be difficult to reach by survey. We believe it is important to begin the survey as soon as possible, but no later than October 1st.This will allow sufficient time for the target population to complete and return the survey before the holiday season begins, which we expect would further depress response rates.

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Authorizing Statute(s): US Code: 12 USC 5012 Name of Law: Emergency Economic Stabilization Act of 2009
  

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:
	78 FR 41497	07/10/2013
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
Hamp Re-default Survey

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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	2,400	0	0	2,400	0	0
Annual Time Burden (Hours)	600	0	0	600	0	0
Annual Cost Burden (Dollars)	0	0	0	0	0	0

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

Burden Increase Due to: Miscellaneous Actions

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

Burden Reduction Due to:

Short Statement: This is a new collection.

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Annual Cost to Federal Government:

Does this IC contain surveys, censuses, or employ statistical methods? Yes Part B of Supporting Statement

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: 09/30/2013

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