OMB.report

Federal forms, ICRs, and supporting documents

Information Collection Request

Owner of Record and Re-Sale Data to Preclude Predatory Lending Practices (Property Flipping) on FHA Insured Mortgages

ICR 200212-2502-003 · OMB 2502-0547 · Historical Active

Forms and Documents
DocumentTypeStatusAvailability
No forms / supporting documents in this ICR. Check IC Document Collections.
IC Document Collections
IC IDCollectionTypeStatusForm
27333 Owner of Record and Re-Sale Data to Preclude Predatory Lending Practices (Property Flipping) on FHA Insured Mortgages Migrated
ICR Details
2502-0547 200212-2502-003
Historical Active 200107-2502-001
HUD/OH
Owner of Record and Re-Sale Data to Preclude Predatory Lending Practices (Property Flipping) on FHA Insured Mortgages
Revision of a currently approved collection   No
Regular
Approved with change 12/30/2002
Retrieve Notice of Action (NOA) 12/30/2002
Approved consistent with burden changes that account for the recordkeeping and reporting requirements for properties that fall into the 3-6 month range and the 3-12 month range. Cleared for 1 year to allow HUD and OMB to revisit the policy set forth in the final rule and make adjustments, if necessary, to "triggers" for reporting and also to make adjustments of burden estimates.
  Inventory as of this Action Requested Previously Approved
01/31/2004 01/31/2004 10/31/2004
750,000 0 500
27,500 0 250
0 0 0
HUD is committed to preventing predatory sales practices. To do so, it will not insure mortgages of properties re-sold within 90 days and will require that only the owner-of-record be permitted to sell the property if FHA will insure the subsequent mortgage. Lenders will be required to provide evidence of the date of the last resale and the date it occured.
None
None
No
1
IC Title Form No. Form Name
Owner of Record and Re-Sale Data to Preclude Predatory Lending Practices (Property Flipping) on FHA Insured Mortgages
  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 750,000 500 0 749,500 0 0
Annual Time Burden (Hours) 27,500 250 0 27,250 0 0
Annual Cost Burden (Dollars) 0 0 0 0 0 0
Yes
No
$0
No
No
Uncollected
Uncollected
Uncollected
Uncollected
  No
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.
12/30/2002