Real Estate Title Clearance and Loan Closing - 7 CFR 1927-B

Forms and Documents

Document Name	Status
Form 1927-05 7 CFR 1927-B, "Real Estate Title Clearance and Loan Closing" Form	Modified
Form 3550-25 7 CFR 1927 - Private Sector Form	Modified
2019-10861.pdf Supplementary Document	2019-09-11
FY 2019 0575-0147 LoanClosing 60 day FR.doc Supplementary Document	2019-08-19
Copy of FY 2019 0575-0147 2016 7 CFR 1927-B REAL ESTATE TITLE CLEARANCE AND CLOSING.xlsx Supplementary Document	2019-08-19
FY 2019 RHS ICR 0575-0147 Supporting Statement rev 2-25-20.docx Supporting Statement A	2020-02-25

IC Document Collections

IC ID	Document Title	Status
1998	7 CFR 1927-B, "Real Estate Title Clearance and Loan Closing" Form	Modified
180080	7 CFR 1927 - Private Sector Form	Modified

ICR Details

OMB Control No: 0575-0147	ICR Reference No: 201904-0575-002
Status: Received in OIRA	Previous ICR Reference No: 201610-0575-002
Agency/Subagency: USDA/RHS	Agency Tracking No:
Title: Real Estate Title Clearance and Loan Closing - 7 CFR 1927-B
Type of Information Collection: Revision of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular	Date Submitted to OIRA: 02/26/2020

	Requested	Previously Approved
Expiration Date	36 Months From Approved	01/31/2021
Responses	22,214	29,450
Time Burden (Hours)	2,957	3,929
Cost Burden (Dollars)	0	0

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Abstract: This regulation promulgates the policies and procedures or real estate title clearance and closing of loans, assumptions, voluntary conveyances, and credit sales in connection with insured loans. This regulation does not apply to guaranteed loans.

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Authorizing Statute(s): PL: Pub.L. 102 - 550 501 Name of Law: Housing Act of 1949
   US Code: 7 USC 1926a Name of Law: Consolidated Farm and Rural Development 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:
	84 FR 10861	05/24/2019
30-day Notice:	Federal Register Citation:	Citation Date:
	85 FR 10647	02/25/2020
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
7 CFR 1927-B, "Real Estate Title Clearance and Loan Closing"	1927-05, 1927-08, 1927-09, 1927-20, 1927-10, 1927-19, 3550-25	Affidavit Regarding Work of Improvement ,   Agreement with Prior Lienholder ,   Preliminary Title Opinion ,   Certification of Title Insurance Company ,   Final Title Opinion ,   Certification of Attorney ,   RD Form 3550-25
7 CFR 1927 - Private Sector	3550-25, 1927-05, 1927-08, 1927-19, 1927-20, 1927-09, 1927-10	RD Form 3550-25 ,   Affidavit Regarding Work of Improvement ,   Agreement with Prior Lienholder ,   Cetification of Attorney ,   Certification of Title Insurance Company ,   Preliminary Title Opinion ,   Final Title Opinion

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ICR Summary of Burden

	Total Request	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	22,214	29,450	0	0	-7,236	0
Annual Time Burden (Hours)	2,957	3,929	0	0	-972	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: Since the last submission, respondents have declined accounting for the decrease in responses and burden.

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Annual Cost to Federal Government: $3,291,120

Does this IC contain surveys, censuses, or employ statistical methods? No

Does this ICR request any personally identifiable information (see OMB Circular No. A-130 for an explanation of this term)? Please consult with your agency's privacy program when making this determination.     No

Does this ICR include a form that requires a Privacy Act Statement (see 5 U.S.C. §552a(e)(3))? Please consult with your agency's privacy program when making this determination.     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? No

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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: 02/26/2020

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