Form of Detached Assignment for U.S. Small Business Administration Loan Pool or Guaranteed Interest Certificate

Forms and Documents

Document Name	Status
Form SBA Form 1088 Form of Detached Assignment for U.S. Small Business Administration Loan Pool or Guaranteed Interest Certificate Form and Instruction	Modified
3245-0212 Supporting Statement - Form 1088 9-29-2020.docx Supporting Statement A	2020-09-30

IC Document Collections

IC ID	Document Title	Status
35733	Form of Detached Assignment for U.S. Small Business Administration Loan Pool or Guaranteed Interest Certificate Form and Instruction	Modified

ICR Details

OMB Control No: 3245-0212	ICR Reference No: 202009-3245-005
Status: Active	Previous ICR Reference No: 201707-3245-001
Agency/Subagency: SBA	Agency Tracking No:
Title: Form of Detached Assignment for U.S. Small Business Administration Loan Pool or Guaranteed Interest Certificate
Type of Information Collection: Extension without change of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved without change	Conclusion Date: 11/16/2020
	Date Received in OIRA: 09/30/2020
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	11/30/2023	36 Months From Approved	11/30/2020
Responses	9,200	0	7,500
Time Burden (Hours)	13,800	0	11,250
Cost Burden (Dollars)	0	0	0

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Abstract: The Small Business Administration requires information to be disclosed to the buyer when a secondary market loan is transferred from one investor to another. This information includes a constant annual prepayment rate based upon the seller's analysis pf prepayment histories of SBA guaranteed loans with similar maturities. Additionally, information is required on the terms. conditions and yield of the security being transferred.

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Authorizing Statute(s): US Code: 15 USC 634(h)(1)(c) Name of Law: null
  

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:
	85 FR 23880	04/29/2020
30-day Notice:	Federal Register Citation:	Citation Date:
	85 FR 61078	09/29/2020
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
Form of Detached Assignment for U.S. Small Business Administration Loan Pool or Guaranteed Interest Certificate	SBA Form 1088	FORM OF DETACHED ASSIGNMENT FOR U.S.BUSINESS ADMINISTRATION LOAN POOL OR GUARANTEED INTEREST CERTIFICATE

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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	9,200	7,500	0	1,700	0	0
Annual Time Burden (Hours)	13,800	11,250	0	2,550	0	0
Annual Cost Burden (Dollars)	0	0	0	0	0	0

Burden increases because of Program Change due to Agency Discretion: Yes

Burden Increase Due to: Miscellaneous Actions

Burden decreases because of Program Change due to Agency Discretion: No

Burden Reduction Due to:

Short Statement: The burden has been increased to reflect activity for the program to date as well as the future estimated activity in response to the new funding.

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Annual Cost to Federal Government: $0

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: 09/30/2020

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