83-c

PAPERWORK REDUCTION ACT

CHANGE WORKSHEET

Agency/Subagency U.S. Department of Housing and Urban Development Office of Housing, Office of Multifamily Housing Development							OMB Control Number 2502-0541
Enter only items that change Current record New record
Agency form number(s)
Annual reporting and recordkeeping hour burden
	Number of respondents
	Total annual responses
			Percent of these responses collected electronically
	Total annual hours
	Difference
	Explanation of difference
				Program change
				Adjustment
Annual reporting and recordkeeping cost burden (in thousands of dollars)
		Total annualized Capital/Startup costs			0		0
		Total annual costs (O&M)			0		0
		Total annualized cost requested			0		0
		Difference					0
		Explanation of difference
				Program change
				Adjustment
Other changes** HUD has proposed to create a Chief Underwriter position for MAP Approved Lenders. Through the lender’s Chief Underwriter, the lender will be delegated responsibility for approval of MAP and Section 232 underwriters. Once implemented, HUD will no longer complete the approvals, but rather will rely upon certifications from the MAP/Section 232 Lender and its Chief Underwriter that the individual MAP/Section 232 Underwriter is qualified per MAP Guide and/or Section 232 Processing Guide requirements. Currently, lenders are required to submit 2 complete hard-copy application packages to HUD for review and approval. The new process will greatly reduce the lender’s required paper submission and the cost to produce, by now requiring an electronic version of the package with only signature pages being required to be submitted in hard copy. Although this initiative does introduce a new requirement that lenders must annually certify that all underwriters have meet approval requirements, the lender must already submit an annual certification under current MAP requirements, thereby introducing no additional cost or paperwork. The initiative introduces no additional file retainage responsibilities for the lender. Lenders are already required to maintain a copy of the submittal for 10 years.
Signature of Senior Official or designee:						Date:	For OIRA Use _______________ ______________

**This form cannot be used to extend an expiration date.

OMB FORM 83-C 10/95