Advance of Escrow Funds

OMB Control No: 2502-0018	ICR Reference No: 200608-2502-004
Status: Historical Active	Previous ICR Reference No: 200308-2502-002
Agency/Subagency: HUD/OH	Agency Tracking No:
Title: Advance of Escrow Funds
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: 11/01/2006
Retrieve Notice of Action (NOA)	Date Received in OIRA: 09/07/2006
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	11/30/2009	36 Months From Approved	10/31/2006
Responses	1,872	0	525
Time Burden (Hours)	1,872	0	1,050
Cost Burden (Dollars)	61,074	0	0

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Abstract: The Department requires mortgagors/borrowers and mortgagors/lenders execute a Building Loan Agreements setting forth terms and conditions under which progress payments may be advanced during project construction. These agreements are to be executed before initial endorsement of the mortgage to insurance.

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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:
	71 FR 102	05/26/2006
30-day Notice:	Federal Register Citation:	Citation Date:
	71 FR 173	09/07/2006
Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 2

IC Title Form No. Form Name Request for Approval of Advance of Escrow Funds HUD-92464 Request for Approval of Advance of Escrow Funds Advance of Escrow Funds HUD-92464 Request for Approval of Advance of Escrow Funds

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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	1,872	525	0	0	1,347	0
Annual Time Burden (Hours)	1,872	1,050	0	0	822	0
Annual Cost Burden (Dollars)	61,074	0	0	0	61,074	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: This submission was edited to include two ICs becuase the affected public is Business or other for-profit and not-for-profit instituions. This is an extension of a currently approved collection. There has been no program change. The increase in the number of respondents reflects a decreased use of the program but a more proper accounting of actual respondents. The increase in the number of responses and corresponding burden hours reflects the fact that each project owner submits the form 2-3 times per project, and that multiple parties have input to the form.

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Annual Cost to Federal Government: $66,119

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

Agency Contact: Wendy Carter 202 708-2866 ext. 2546

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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: 09/07/2006

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