HUD Multifamily Rental Project Closing Documents

OMB Control No: 2502-0598	ICR Reference No: 201711-2502-001
Status: Active	Previous ICR Reference No: 201409-2502-005
Agency/Subagency: HUD/OH	Agency Tracking No:
Title: HUD Multifamily Rental Project Closing Documents
Type of Information Collection: Revision of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved without change	Conclusion Date: 09/10/2018
Retrieve Notice of Action (NOA)	Date Received in OIRA: 07/02/2018
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	09/30/2021	36 Months From Approved	09/30/2018
Responses	625,512	0	23,455
Time Burden (Hours)	13,885	0	18,473
Cost Burden (Dollars)	0	0	0

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Abstract: HUD is seeking to ammend certain Federal Housing Administration(FHA)forms to reflect current HUD policy in the area of multifamily rental projects.

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Authorizing Statute(s): US Code: 12 USC 1702-1715z-21 Name of Law: null    US Code: 42 USC 3535(d) Name of Law: null

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:
	82 FR 41977	09/05/2017
30-day Notice:	Federal Register Citation:	Citation Date:
	83 FR 29815	06/26/2018
Did the Agency receive public comments on this ICR? Yes

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Number of Information Collection (IC) in this ICR: 1

IC Title Form No. Form Name HUD Multifamily Closing Documents

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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	625,512	23,455	0	0	602,057	0
Annual Time Burden (Hours)	13,885	18,473	0	0	-4,588	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 a request for a revision of a currently approved collection and a decrease in burden hours, but an increase in respondents. Two new forms are being added to the collection, form HUD-92907M and form HUD-92908M. The Subordination Agreement- Private, form HUD-92907M, will be used in place of form HUD-92420M when private secondary financing sources will be used to finance a project. Form HUD-92420M, Subordination Agreement, will be used with public secondary financing lenders. Use of this new form is not expected to affect the total number of burden hours because the form will be used for the same purpose- to document secondary financing. Only now, half of the time the form is used will be to document financing from a public source and the other half of the time the form is used will be to document financing from a public source. The total amount of time it takes to document a secondary financing source will remain the same.

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Annual Cost to Federal Government: $708,128

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

Does this ICR request any personally identifiable information (see OMB Circular No. A-130 for an explanation of this term)? Please consult with your agency's privacy program when making this determination.     No

Does this ICR include a form that requires a Privacy Act Statement (see 5 U.S.C. §552a(e)(3))? Please consult with your agency's privacy program when making this determination.     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: Elizabeth Arteaga 817 978-5498 [email protected]

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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: 07/02/2018

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