Hardest Hit Fund Application

Forms and Documents

Document	Type	Status	Availability
1505-NEW_supporting_statement_HHF.docx	Supporting Statement A	Uploaded 2016-02-18	Available

IC Document Collections

IC ID	Collection	Type	Status	Form
220177	HHF Phase 2 Application	Instruction	New

ICR Details

OMB Control No: 1505-0254	ICR Reference No: 201602-1505-002
Status: Historical Active	Previous ICR Reference No:
Agency/Subagency: TREAS/DO	Agency Tracking No: Offc_of_Fin_Stability
Title: Hardest Hit Fund Application
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: 02/19/2016
OIRA Conclusion Action: Approved without change	Conclusion Date: 02/19/2016
	Date Received in OIRA: 02/19/2016
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	08/31/2016	6 Months From Approved
Responses	19	0	0
Time Burden (Hours)	760	0	0
Cost Burden (Dollars)	0	0	0

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Abstract: The Department of the Treasury (Treasury) established the Housing Finance Agency Innovation Fund for Hardest Hit Housing Markets (Hardest Hit Fund or HHF) in 2010, pursuant to the Emergency Economic Stabilization At of 2008 (12 U.S.C. 5201, et seq.). The objective of HHF is to provide funding to the states that were most severely impacted by the foreclosure crisis. Funds are provided through Treasury’s Troubled Asset Relief Program (TARP), and are used by state housing finance agencies and their designated partners (collectively, HFAs) to help prevent foreclosure and stabilize state housing markets through programs tailored to local conditions. Recognizing the current and persistent need among states participating in HHF, Congress enacted legislation in December 2015, authorizing Treasury to commit up to $2 billion in additional TARP funds to that program. Treasury plans to allocate these funds among participating HHF states based on each area’s current needs and ability to effectively utilize the additional funds. This information collection provides instructions for HFAs to apply for the funds.

Emergency Justfication: In order to ensure uninterrupted assistance to homeowners and neighborhoods in Hardest Hit Fund states, and promptly restore assistance for homeowners where HFAs have closed programs, and to enable the HFAs to deploy the additional funds as expeditiously as possible, it is critical that Treasury collect all information necessary to complete the allocation process as soon as possible.

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Authorizing Statute(s): US Code: 12 USC 5201 Name of Law: Emergency Economic Stabilization Act
  

Citations for New Statutory Requirements: PL: Pub.L. 114 - 113 709 Name of Law: Consolidated Appropriations Act, 2016

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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

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
HHF Phase 2 Application

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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	19	0	19	0	0	0
Annual Time Burden (Hours)	760	0	760	0	0	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:

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Annual Cost to Federal Government:

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: 02/19/2016

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