CREDIT APPLICATION FOR PROPERTY IMPROVEMENT LOAN

OMB Control No: 2502-0002	ICR Reference No: 198103-2502-003
Status: Historical Active	Previous ICR Reference No: 197903-2502-002
Agency/Subagency: HUD/OH	Agency Tracking No:
Title: CREDIT APPLICATION FOR PROPERTY IMPROVEMENT LOAN
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: 03/21/1981
Retrieve Notice of Action (NOA)	Date Received in OIRA: 03/06/1981
Terms of Clearance: Approved for use until March 1984 with the condition that HUD revise the form instructions, and if appropriate, the related rules and handbooks to reflect the following OMB decision. HUD should advise lenders that items 5,6,7,and 8 on the form are optional. The lender should have the option of collecting only that information from those items the lenders believe necessary for making credit judgments. Lenders may continue to use the HUD form, but collect all, part, or none of the data specified for these items. Lenders may also use an alternative form or alternative method for making credit judgments that are their sole responsibility. HUD should implement this change by June 1, 1981 and provide OMB with the appropriate documentation.

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	03/31/1984	03/31/1984	03/31/1981
Responses	350,000	0	350,000
Time Burden (Hours)	70,000	0	70,000
Cost Burden (Dollars)	0	0	0

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Abstract: THIS FORM IS PREPARED BY A BORROWER, OR ON BEHALF OF A BORROWER BY A DEALER/CONTRACTOR OR OFFICIAL OF A LENDING INSTITUTION FOR THE PURPOSE OF OBTAINING A TITLE I PROPERTY IMPROVEMENT LOAN. THE FORM IS A STANDARD FORM APPLICATION FOR CREDIT. INSTRUCTIONS AS WELL AS A SAMPL COMPLETED APPLICATION ARE CONTAINED IN THE TITLE I PROPERTY IMPROVEMEN LOAN OPRATIONS H, 4700.1.

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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:

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Federal Register Notices & Comments

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 CREDIT APPLICATION FOR PROPERTY IMPROVEMENT LOAN HUD-56001

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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	350,000	350,000	0	0	0	0
Annual Time Burden (Hours)	70,000	70,000	0	0	0	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:

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Annual Cost to Federal Government: $0

Does this IC contain surveys, censuses, or employ statistical methods? No

Is the Supporting Statement intended to be a Privacy Impact Assessment required by the E-Government Act of 2002? No

Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]? Uncollected

Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]? Uncollected

Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)? Uncollected

Is this ICR related to the Pandemic Response? Uncollected

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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: 03/06/1981

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