Notice of Proposed Information Collection: Comment Request; Energy Efficient Mortgages (EEMs), 47605 [2011-19926]

Agencies

• DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT

[Federal Register Volume 76, Number 151 (Friday, August 5, 2011)]
[Notices]
[Page 47605]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2011-19926]



[[Page 47605]]

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DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT

[Docket No. FR-5484-N-27]


Notice of Proposed Information Collection: Comment Request; 
Energy Efficient Mortgages (EEMs)

AGENCY: Office of the Assistant Secretary for Housing, HUD.

ACTION: Notice.

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SUMMARY: The proposed information collection requirement described 
below will be submitted to the Office of Management and Budget (OMB) 
for review, as required by the Paperwork Reduction Act. The Department 
is soliciting public comments on the subject proposal.

DATES: Comments Due Date: October 4, 2011.

ADDRESSES: Interested persons are invited to submit comments regarding 
this proposal. Comments should refer to the proposal by name and/or OMB 
Control Number and should be sent to: Reports Liaison Officer, 
Department of Housing and Urban Development, 451 7th Street, SW., 
Washington, DC 20410, Room 9120 or the number for the Federal 
Information Relay Service (1-800-877-8339).

FOR FURTHER INFORMATION CONTACT: Arlene Nunes, Acting Director, Home 
Mortgage Insurance Division, Office of Single Family Program 
Development, Department of Housing and Urban Development, 451 7th 
Street, SW., Washington, DC 20410, telephone (202) 708-2121 (this is 
not a toll free number) for copies of the proposed forms and other 
available information.

SUPPLEMENTARY INFORMATION: The Department is submitting the proposed 
information collection to OMB for review, as required by the Paperwork 
Reduction Act of 1995 (44 U.S.C. chapter 35, as amended).
    This Notice is soliciting comments from members of the public and 
affected agencies concerning the proposed collection of information to: 
(1) Evaluate whether the proposed collection is necessary for the 
proper performance of the functions of the agency, including whether 
the information will have practical utility; (2) Evaluate the accuracy 
of the agency's estimate of the burden of the proposed collection of 
information; (3) Enhance the quality, utility, and clarity of the 
information to be collected; and (4) Minimize the burden of the 
collection of information on those who are to respond; including the 
use of appropriate automated collection techniques or other forms of 
information technology, e.g., permitting electronic submission of 
responses.
    This Notice also lists the following information:
    Title of Proposal: Energy Efficient Mortgages.
    OMB Control Number, if applicable: 2502-0561.
    Description of the need for the information and proposed use: 
Section 106 of the Energy Policy Act of 1992 (42 U.S.C. 1721 Section 
106 of the Energy Policy Act of 1992 (42 U.S.C 12712) provides the 
Department of Housing and Urban Development, Federal Housing 
Administration (FHA), with the authority to insure mortgages where the 
costs of energy efficient improvements are incorporated into the 
mortgage. To be eligible, the statute requires that the improvements be 
cost effective, which are determined pursuant to a Home Energy Rating 
Systems (HERS) Report. The statute also defines cost effective as the 
total cost of the improvements (including any maintenance and repair 
expenses) that is less than the total present value of the energy saved 
over the useful life of the improvement. Section 2123 of the Housing 
Economic Recovery Act of 2008 (HERA) (Public Law 110-289, approved July 
30, 2008)) amended Section 106 of the Energy Policy Act of 1992 which 
revised the maximum additional dollar amount that can be added to an 
FHA insured mortgage for energy efficient improvements. Lenders are 
responsible for reviewing the documents submitted and determining the 
cost effectiveness of the improvements so these costs can be added to 
the base loan amount. The borrower cannot obtain an EEM without 
providing this information. Specifically, the information includes:
    a. The Home Energy Rating (HERS) Report, completed by the energy 
rater or consultant, which describes the energy improvements that can 
be made to the home. Guidance provided to the lender for determining 
the cost effectiveness of the energy package.
    b. An attestation of the Direct Endorsement Underwriter for TOTAL 
Scorecard, which requires an underwriter to attest on the Underwriting 
and Transmittal Summary or the Mortgage Credit Analysis Worksheet that 
the determinations have been made regarding the energy improvements and 
finds the mortgage and the property to be in compliance with FHA's 
guidelines.
    c. Information that the work has been completed and the escrow 
account has been cleared.
    Agency form numbers, if applicable: None.
    Estimation of the total numbers of hours needed to prepare the 
information collection including number of respondents, frequency of 
response, and hours of response: The frequency of response is based on 
the review and certifications required per loan and the total number of 
burden hours for entry is 4-1/4 hours per endorsed case from 
origination to closeout. The total number of responses is 1,320 which 
represent the total number of FHA cases endorsed for EEMs. The total 
number of burden hours is estimated at 5,610 which represent the time 
required to review and certify documents for EEMs insured.
    Status of the proposed information collection: This is an extension 
of OMB Control No. 2502-0561.

    Authority: The Paperwork Reduction Act of 1995, 44 U.S.C., 
Chapter 35, as amended.

    Dated: August 2, 2011.
Ronald Y. Spraker,
Associate General Deputy Assistant Secretary for Housing-Associate 
Deputy Federal Housing Commissioner.
[FR Doc. 2011-19926 Filed 8-4-11; 8:45 am]
BILLING CODE 4210-67-P