Quality Control Requirements for Direct Endorsement Lenders

Forms and Documents

Forms and supporting documents for this ICR

Document	Type	Status	Availability
2502-0600 30 Day.pdf	Supplementary Document	Uploaded 2024-02-23	Repair queued
Supporting Statement - A (2).docx	Supporting Statement A	Uploaded 2024-02-16	Repair queued
24cfr202.8.pdf	Supplementary Document	Uploaded 2020-05-01	Repair queued

IC Document Collections

Information collection document groups

IC ID	Collection	Type	Status	Form
197305	Quality Control Requirements for Direct Endorsement Lenders		Modified

ICR Details

OMB Control No: 2502-0600	ICR Reference No: 202402-2502-003
Status: Active	Previous ICR Reference No: 202005-2502-002
Agency/Subagency: HUD/OH	Agency Tracking No:
Title: Quality Control Requirements for Direct Endorsement Lenders
Type of Information Collection: Revision of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved without change	Conclusion Date: 04/05/2024
Retrieve Notice of Action (NOA)	Date Received in OIRA: 02/23/2024
Terms of Clearance: Upon the next substantive resubmission of this information collection to OMB, the agency will upload (in PDF format) as either an instrument or a supplemental document screenshots of the relevant portion of the Loan Review System (LRS) which FHA uses to receive reports.

table that charts list comparision

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	04/30/2027	36 Months From Approved	04/30/2024
Responses	67,710	0	118,952
Time Burden (Hours)	16,973	0	29,738
Cost Burden (Dollars)	0	0	0

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Abstract: This information is collected from Direct Endorsement lenders in order to meet FHA's quality control requirements in light of recent changes to lender eligibility criteria for participation in FHA programs.

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Authorizing Statute(s): None

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:
	88 FR 48491	07/27/2023
30-day Notice:	Federal Register Citation:	Citation Date:
	89 FR 13735	02/23/2024
Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 1

table that charts list of burden

IC Title	Form No.	Form Name
Quality Control Requirements for Direct Endorsement Lenders

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ICR Summary of Burden

table that charts list 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	67,710	118,952	0	0	-51,242	0
Annual Time Burden (Hours)	16,973	29,738	0	0	-12,765	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: The estimated number of burden hours for this collection has changed due to an increase in the number of Early Payment Defaults (EPDs); EPDs have increased due to the adverse effect of the COVID-19 National Emergency on the performance of FHA single family mortgage loans. In addition, the Office of Lender Activities and Program Compliance (OLAPC) has revised its estimate for quality control of loan originations to capture a 10 percent sample of loans originated by sponsored third party originators; this revision aligns more closely with the quality control review sample size and sample composition standards for DE lenders in Sections V.A.3.a.iii and V.A.3.a.iv of Handbook 4000.1.

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Annual Cost to Federal Government: $3,207,351

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: 02/23/2024

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