Approved contingent on HUD submitting a full 60-day Federal Register notice within 90 days.
Inventory as of this Action
Requested
Previously Approved
12/31/2020
6 Months From Approved
942
0
0
1,389
0
0
0
0
0
This is an emergency request to OMB for approval of a new collection based on situational conditions relating to the COVID-19 Coronavirus pandemic and the Presidential declaration of a national emergency. The new collection accommodates the electronic submission of two new closing forms: 1) Escrow Agreement for Deferred Repairs, Debt Service â 223(f) and, 2) Lenderâs Certification Electronic Submission of Closing Documents. This new PRA collection will serve as the authority for any new or future changes or revisions to multifamily programs impacted by COVID-19 or related pandemics.
The emergency review is necessary in this case to implement uniform electronic closing protocols and best practices for the continued delivery of legal services to perform closings of multifamily FHA-insured mortgages using the Electronic Lender's Certification. We also request to implement the use of the Debt Service Escrow Agreement to mitigate any increased rent collection losses and income disruption associated with market rate refinance transactions.
This is a request for approval of a new information collection. This new emergency collection is being established in response to the current COVID19 pandemic. The collection will serve the purpose of addressing situational conditions to accommodate collections for multifamily programs impacted by unforeseen circumstances associated with COVID19 and other related situations in the future as the need may be.
This current request involves two new temporary closing forms to conduct electronic closings on all closing types and to set up a debt service escrow for FHA-insured mortgage closings for Section 223(f) market rate refinances. This relates to the current COVID-19 Coronavirus outbreak and the Presidential declaration that declared a national emergency. While HUD offices remain open for business, employees are now engaged in full-time telework and closings are being conducted electronically. Therefore, the current collectionâs burden hours and cost will increase by 2.0 hours as reported in line 13 and 14 of the OMB Form 83-I.
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.
Form 0000 COVID19 HUD Contingency Plan for HUD Multifamily Rental Project Closing Documents
2502-NEW - Supporting Statement (Emergency COVID-19 Closing Docs) (vh 5-27-20)a.docx
Emergency DAS Letter to R. Young.pdf
COVID19 HUD Contingency Plan for HUD Multifamily Rental Project Closing Documents