Forms Revision Chart

HUD Form # 56146, TITLE: Repayment Agreement

LOCATION	CURRENT TEXT	REVISED TEXT
p. 1, Heading	(Exp. 11/30/2022)	**Update once approved**
p.1, Heading		**new** Public Reporting Burden and Privacy Act Statements on Page 2 should be fully reviewed before completing this form
p.1, Public Reporting Burden and Privacy Act Statement	Public reporting burden for this collection of information is estimated to average 1 hour per response, including the time for reviewing instructions, searching existing data sources, gathering and maintaining the data needed, and completing and reviewing the collection of information. This information is voluntary. HUD may not collect this information, and you are not required to complete this form, unless it displays a currently valid OMB control number. Section 2(c) of the National Housing Act authorizes the Secretary of the Department of Housing and Urban Development to collect or compromise all obligations assigned to or held by the Secretary and all legal or equitable rights accruing to HUD in connection with the payment of a HUD-insured loan until such times as such obligations may be referred to the Attorney General for suit or collection. The information is collected under P.L. 479 and is used to determine the debtor’s attitude about repayment of the debt and her/his ability to repay the debt. Attempts should be made to secure a signed Repayment Agreement. The information is considered confidential. The Privacy Act of 1974 protects the debtors. HUD generally discloses this data only in response to a Freedom of Information request.	Removed from p.1 – Moved/edited on p.2
p.1, Address Block	formatted as a block shape	formatted as lines
p.1, Signature block	Debtor: (Print or type name here.)	Debtor Name (print or type name)
p.1, Signature block	(Sign name here.)	Debtor Signature
p.1, Signature block	(Sign name here.)	Debt Servicing Representative Signature
p.1, footer	Form HUD-56146 (07/2012) Ref. Handbook 4740.2
p.2, Public Reporting Burden	(from p.1) Public reporting burden for this collection of information is estimated to average 1 hour per response, including the time for reviewing instructions, searching existing data sources, gathering and maintaining the data needed, and completing and reviewing the collection of information. This information is voluntary. HUD may not collect this information, and you are not required to complete this form, unless it displays a currently valid OMB control number. Section 2(c) of the National Housing Act authorizes the Secretary of the Department of Housing and Urban Development to collect or compromise all obligations assigned to or held by the Secretary and all legal or equitable rights accruing to HUD in connection with the payment of a HUD-insured loan until such times as such obligations may be referred to the Attorney General for suit or collection. The information is collected under P.L. 479 and is used to determine the debtor’s attitude about repayment of the debt and her/his ability to repay the debt. Attempts should be made to secure a signed Repayment Agreement. The information is considered confidential.	Public Reporting Burden for this collection of information is estimated to average 1 hour per response, including the time for reviewing instructions, searching existing data sources, gathering, and maintaining the data needed, and completing and reviewing the collection of information. Comments concerning the accuracy of this burden estimate and any suggestions for reducing this burden should be sent to the Reports Management Officer, QDAM, Department of Housing and Urban Development, 451 7th St, SW, Rm 4176, Washington, DC 20410-5000. This information is voluntary. HUD may not collect this information, and you are not required to complete this form, unless it displays a currently valid OMB control number. Section 2(c)(1)(B) of the National Housing Act (12 U.S.C. 1703(c)(1)(B) authorizes the Secretary of the Department of Housing and Urban Development to collect or compromise all obligations assigned to or held by the Secretary and all legal or equitable rights accruing to HUD in connection with the payment of a HUD-insured loan until such times as such obligations may be referred to the Attorney General for suit or collection. The information is collected pursuant to the National Housing Act (12 U.S.C. 1701, et seq.), and is used by HUD to determine the debtor’s willingness and ability to repay their debt Attempts should be made to secure a signed Repayment Agreement. The information is considered confidential. HUD generally discloses this data only in response to a request made under the Freedom of Information Act.
p.2, Privacy Act Statement	(from p.1) The Privacy Act of 1974 protects the debtors. HUD generally discloses this data only in response to a Freedom of Information request.	Privacy Act Statement Pursuant to 5 U.S.C. § 552a(e)(3), this Privacy Act Statement serves to inform you of the following concerning the collection of the information on this form. Authority: The Debt Collection Improvement Act of 1996 (Pub. L. 104-134, 5 U.S.C. 5514, 31 U.S.C. 3701 et seq.), as amended; The Federal Claims Collection Act of 1966 (Pub. L. 89-508) and Debt Collection Act of 1982 (Pub. L. 97-365); 31 C.F.R. 285; 24 C.F.R. Part 17, Subpart C; 80 Stat. 309, Section 3(b); The Housing and Community Act of 1987, 42 U.S.C. 3543(a), authorizes HUD to collect the Social Security Number (SSN); 12 U.S.C. 1703(c) authorizes the collection, compromise, and sale of debt obligations to HUD in connection with the payment of FHA loans. Purpose: HUD’s mission is to provide effective and efficient servicing to maximize the recovery of debts and minimize losses arising from FHA loan programs. The purpose for collecting this information is to support activities related to the collection of debts resulting from defaults on HUD/FHA insured Title I loans and from other HUD/FHA loans. Routine Use: The information collected on this form will be used by HUD to collect this debt and assess your ability to repay. Information will not be otherwise disclosed or released outside of HUD, except as permitted or required by law to appropriate Federal, state, and local agencies when relevant to debt collection, payment offsets, and reporting; to civil, criminal, or regulatory investigations and/or prosecutions; to your employer to issue wage garnishment order; to third party debt purchasers for relevant asset sale transactions; to appropriate agencies, entities, and persons to mitigate a breach or related incident. Information may also be used by HUD for computer matching for verification purpose. Disclosure: Completion of this form is voluntary and not required. You may object to this information request by refusing to complete the form. You may withhold your consent to specific uses of your information by withholding that information. However, the information requested is required to obtain benefits. SORN URL: https://www.govinfo.gov/content/pkg/FR-2007-11-13/pdf/E7-22077.pdf
p.2, footer	**new**	Page 2 of 2 form HUD-56146