Application for Insurance of Advance of Mortgage Proceeds

OMB Control No: 2502-0097	ICR Reference No: 201609-2502-008
Status: Historical Active	Previous ICR Reference No: 201308-2502-011
Agency/Subagency: HUD/OH	Agency Tracking No:
Title: Application for Insurance of Advance of Mortgage Proceeds
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: 02/21/2017
Retrieve Notice of Action (NOA)	Date Received in OIRA: 12/23/2016
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	02/29/2020	36 Months From Approved	02/28/2017
Responses	21,788	0	13,128
Time Burden (Hours)	52,380	0	26,256
Cost Burden (Dollars)	0	0	0

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Abstract: A mortgagor (or mortgagor/contractor) requests an advance of mortgage proceeds for reimbursement of project construction expenditures. Upon further input and review the mortgagee transmits the information to HUD for approval on a monthly basis for reimbursement of funds.

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Authorizing Statute(s): US Code: 12 USC 1713 Section 207 Name of Law: The National Housing Act

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:
	81 FR 60015	08/31/2016
30-day Notice:	Federal Register Citation:	Citation Date:
	81 FR 94399	12/23/2016
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 Application for Insurance of Advance of Mortgage Proceeds HUD-92403 Application for Insurance of Advance of Mortgage Proceeds

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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	21,788	13,128	0	0	8,660	0
Annual Time Burden (Hours)	52,380	26,256	0	0	26,124	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: This is an extension of a currently approved collection. The number of respondents has increased from the previous information collection due to economic demand. However, an Elderly Program has since been transferred to another HUD Department not under Development Jurisdiction. Individual mortgagors and principals are required to submit form HUD-92403. A majority of the applications submitted to HUD for mortgage insurance are from corporations or partnerships. Only a small percentage of applications are from individual mortgagors.

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Annual Cost to Federal Government: $2,269,102

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]? 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? Uncollected

Agency Contact: Sylvia Chatman 2027080614 ext. 2994

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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: 12/23/2016

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