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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 201005-2502-009 · OMB 2502-0547 · Historical Active

Forms and Documents
DocumentTypeStatusAvailability
Final Rule-24CFR203.pdf Supplementary Document Uploaded 2007-01-09 Available
2502-0547 Supporting Statement_A.docx Supporting Statement A Uploaded 2010-09-21 Available
IC Document Collections
IC IDCollectionTypeStatusForm
27334 Owner of Record and Re-sale Data to Preclude Predatory Lending Practices (Property Flipping) on FHA Insured Mortgages Modified
ICR Details
2502-0547 201005-2502-009
Historical Active 200701-2502-003
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 09/28/2010
Retrieve Notice of Action (NOA) 05/27/2010
  Inventory as of this Action Requested Previously Approved
09/30/2013 36 Months From Approved 09/30/2010
1,182,000 0 514,000
43,500 0 19,000
0 0 0
To prevent predatory sales practices, HUD will not insure mortgages on properties re-sold within 90 days, and only the owner-of-record is permitted to sell the property if FHA is to insure the subsequent mortgage. Lenders are required to provide evidence of the date of the last resale and the date it occurred.
None
None
Not associated with rulemaking
  75 FR 9244 03/01/2010
75 FR 28814 05/24/2010
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 1,182,000 514,000 0 668,000 0 0
Annual Time Burden (Hours) 43,500 19,000 0 24,500 0 0
Annual Cost Burden (Dollars) 0 0 0 0 0 0
Yes
Miscellaneous Actions
No
The number of respondents has increased to show the actual lenders rather than the number of mortgages made. The number of responses and the resulting burden hours have increased, aligning with the increase in FHA’s market share. This submission also includes the number of additional appraisals required.
$2,022,000
No
No
No
Uncollected
No
Uncollected
LaJaun Gladden 2024023182
  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.
05/27/2010