7 CFR 1951-E, Servicing of Community and Direct Business Programs Loans and Grants
Reinstatement without change of a previously approved collection
No
Regular
Approved without change
11/15/2024
12/07/2021
table that charts list comparision
Inventory as of this Action
Requested
Previously Approved
11/30/2027
36 Months From Approved
1,323
0
0
1,504
0
0
0
0
0
Regulation promulgates the policies and procedures for servicing actions necessary in connection with community facilities loans and grants and insured business and industry loans.
B&I is reporting a decrease in burden from the prior report due to a reduction in the number of outstanding loans ~ there are now 12 B&I Direct loans being serviced by staff in 8 states and one contact in the National Office. It is estimated that less than 1 percent of staff time is spent on the servicing of these loans. There has been no direct outreach to stakeholder groups over the past three years. The reduction in the number of loans is through payoffs or settlements. The program is not authorized to make new direct B&I loans, so the number of loans outstanding should continue to be reduced over the next three years. Community Facilities is reporting a decrease in the number of responses of 251 and a decrease in burden hours of 287 based on the update excel spreadsheet numbers.
NOTE: On February 1, 2021 a Non-substantive Change Request was approved under this collection to include a new request for Forbearance and Forbearance Agreement Written Forms. However, it was concluded that the Forbearance and Forbearance Agreement Written Forms applied to the Multi-Family Sections 515 and 538 programs and did not apply to the Direct Community Facilities Loan Program. The Forbearance and Forbearance Agreement Written forms have been removed from the Servicing of Community and Direct Business Programs. The Agency has also removed the burden hours calculations for âForms that are approved under other OMB Numbersâ which resulted in a decrease of the number of responses to 1,323 and the number of burden hours to 1,054.
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.
7 CFR 1951-E, Servicing of Community and Direct Business Programs Loans and Grants - Private Sector