Home Equity Conversion Mortgage (HECM) Insurance Application for Reverse Mortgages and Related Documents

Forms and Documents

Forms and supporting documents for this ICR

Document	Type	Status	Availability
Form HUD-92902 Home Equity Conversion Mortgage (HECM) Insurance Application for Reverse Mortgages and Related Documents	Form	Modified	Available
Natl Hsng Act-255.doc	Supplementary Document	Uploaded 2013-11-06	Available
24 CFR 206.1211.doc	Supplementary Document	Uploaded 2013-11-06	Available
24 CFR 200.95.doc	Supplementary Document	Uploaded 2013-11-06	Available
PAD Account Authorization.doc	Supplementary Document	Uploaded 2013-11-06	Available
42 USC 3543.docx	Supplementary Document	Uploaded 2013-11-06	Available
ml13-27.pdf	Supplementary Document	Uploaded 2013-11-06	Available
13-28ml.pdf	Supplementary Document	Uploaded 2013-11-06	Available
12 USC 1715Z.20.docx	Supplementary Document	Uploaded 2013-11-06	Available
30 Day FR.pdf	Supplementary Document	Uploaded 2013-11-06	Available
Supporting_Statement_A2 final.doc	Supporting Statement A	Uploaded 2013-11-06	Available

IC Document Collections

Information collection document groups

IC ID	Collection	Type	Status	Form
27279	Home Equity Conversion Mortgage (HECM) Insurance Application for Reverse Mortgages and Related Documents	Form	Modified

ICR Details

OMB Control No: 2502-0524	ICR Reference No: 201309-2502-005
Status: Historical Inactive	Previous ICR Reference No: 201010-2502-013
Agency/Subagency: HUD/OH	Agency Tracking No:
Title: Home Equity Conversion Mortgage (HECM) Insurance Application for Reverse Mortgages and Related Documents
Type of Information Collection: Revision of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Withdrawn and continue	Conclusion Date: 01/02/2014
	Date Received in OIRA: 11/12/2013
Terms of Clearance: HUD shall fully account for the burden of any future financial assessment component, which is currently delayed.

table that charts list comparision

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	04/30/2014	36 Months From Approved	05/31/2014
Responses	129,000	0	129,000
Time Burden (Hours)	450,235	0	450,235
Cost Burden (Dollars)	0	0	0

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Abstract: The HECM reverse mortgage application and related documents are used to determine the eligibility of the borrower and proposed mortgage transaction for FHA insurance endorsement. This submission is a consolidation of additional consumer notification requirements formerly approved under 2502-0534 and 2502-0546.

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Authorizing Statute(s): US Code: 12 USC 1715z-20 Name of Law: National Housing Act
  

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 53209	08/31/2012
30-day Notice:	Federal Register Citation:	Citation Date:
	78 FR 36562	06/18/2013
Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 1

table that charts list of burden

IC Title	Form No.	Form Name
Home Equity Conversion Mortgage (HECM) Insurance Application for Reverse Mortgages and Related Documents	HUD-92800-5b, HUD-92051, HUD-92900-A, FANNIE-MAE-1009, HUD-92901, HUD-92902, Fannie Mae 1073, fnma-1004, fnma-1025, HUD-92561, HUD-1a, fnma-1003, fnma-1004c, HUD-1	Certificate of HECM Counseling ,   HECM Anti Churning Disclosure ,   Residential Loan Application for Reverse Mortgages ,   HUD-VA Addendum to Uniform Residential Loan Application ,   Uniform Residential Loan Application ,   Uniform Residential Appraisal Report ,   Manufactured Home Appraisal Report ,   Small Residential Income Property Appraisal Report ,   Compliance Inspection Report ,   Borrows Contract with Respect to Hotel and Transient Use of Property ,   Conditional Commitment Direct Endorsement Statement of Appraised Value ,   Settlement Statement ,   Settlement Statement Optional for Transactions Without Sellers ,   Fannie Mae 1073

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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: Yes

Burden Reduction Due to: Miscellaneous Actions

Short Statement: Changes to the HECM program, as outlined in Mortgagee Letters 2013-27 and 2013-28, will result in decreased loan volume. That is, in the short term, fewer HECM borrowers may be eligible because of lower principal limits and increased credit underwriting. As a result, this revised submission reduces the total annual responses from 129,000 to 100,000. The previous information collection "Lender describes HECM Standard and HECM Saver MIP and factors" is no longer required as the two programs were eliminated, as outlined in Mortgagee Letter 2013-27.

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Annual Cost to Federal Government: $0

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: 11/12/2013

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