Informed Consumer Choice Notice and Application for FHA Insured Mortgage

ICR 202006-2502-001

OMB: 2502-0059

Federal Form Document

Forms and Documents
Document
Name
Status
Form and Instruction
Modified
Supporting Statement A
2020-07-21
Supplementary Document
2020-07-20
Supplementary Document
2020-07-20
Supplementary Document
2020-07-20
Supplementary Document
2020-07-20
IC Document Collections
IC ID
Document
Title
Status
27010 Modified
ICR Details
2502-0059 202006-2502-001
Active 201808-2502-001
HUD/OH 2502-0059
Informed Consumer Choice Notice and Application for FHA Insured Mortgage
Revision of a currently approved collection   No
Regular
Approved without change 12/21/2020
Retrieve Notice of Action (NOA) 07/21/2020
  Inventory as of this Action Requested Previously Approved
12/31/2023 36 Months From Approved 09/30/2022
5,798,628 0 5,830,999
692,541 0 692,542
0 0 0

The forms and related documents are needed to determine the eligibility of the borrower and proposed mortgage transaction for FHA's insurance endorsement. Lenders seeking FHA's insurance prepare these forms.

US Code: 12 USC 1709 Name of Law: National Housing Act
  
PL: Pub.L. 110 - 185 H.R.5140 Name of Law: Economic Stimulus Act of 2008

Not associated with rulemaking

  84 FR 57464 10/25/2019
85 FR 29959 05/19/2020
No

1
IC Title Form No. Form Name
Application for FHA-Insured Mortgage HUD-92900-A, HUD-92544, HUD-92900-B , HUD-92900 LT, HUD-92561, Consumer Choice Note Consumer Choice Note ,   HUD Addendum to Uniform Residential Loan Application ,   Warranty of Completion of Construction ,   Important Notice to Homebuyers ,   FHA Loan Underwriting and Transmittal Summary ,   Borrower's Contract with Respect to Hotel and Transient Use of Property

  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 5,798,628 5,830,999 0 0 -32,371 0
Annual Time Burden (Hours) 692,541 692,542 0 0 -1 0
Annual Cost Burden (Dollars) 0 0 0 0 0 0
No
No
This is a revision of a currently approved collection; however, there is a change/adjustment due to an increase in FHA endorsement of mortgages. Hi Kim, Attached is the revised collection: • HUD-92900-B, Important Notice to Homebuyers (Redline and FINAL); • HUD-92900-LT, FHA Loan Underwriting and Transmittal Summary (FINAL – there are no changes to this form); • HUD-92561, Borrower's Contract with Respect to Hotel and Transient Use of Property (Redline and FINAL); • HUD-92544, Warranty of Completion of Construction (Redline and FINAL); and • HUD-92900-A, HUD Addendum to Uniform Residential Loan Application (Redline and FINAL). Thanks, Erica A. Garber Home Mortgage Insurance Division

$2,960,022
No
    No
    No
No
No
No
No
Trish McBarron 202 402-5389

  No

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:
 
 
 
 
 
 
 
    (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;
 
 
 
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.
07/21/2020


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