Notice of Submission of Proposed Information Collection to OMB; Emergency Comment Request; Real Estate Settlement Procedures Act Disclosures, 64821-64822 [2012-26067]

Download as PDF 64821 Federal Register / Vol. 77, No. 205 / Tuesday, October 23, 2012 / Notices Number of respondents Annual responses 579 2.290 Reporting Burden .............................................................................. Total estimated burden hours: 48,168. Status: Revision of a currently approved collection. Authority: Section 3507 of the Paperwork Reduction Act of 1995, 44 U.S.C. 35, as amended. Dated: October 17, 2012. Colette Pollard, Department Reports Management Officer, Office of the Chief Information Officer. [FR Doc. 2012–25984 Filed 10–22–12; 8:45 am] BILLING CODE 4210–67–P DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT [Docket No. FR–5603–N–76] Notice of Submission of Proposed Information Collection to OMB; Emergency Comment Request; Real Estate Settlement Procedures Act Disclosures Office of the Chief Information Officer. ACTION: Notice of proposed information collection. AGENCY: The proposed information collection requirement described below has been submitted to the Office of Management and Budget (OMB) for emergency review and approval, as required by the Paperwork Reduction Act. The Department is soliciting public comments on the subject proposal. DATES: Comments Due Date: November 6, 2012. ADDRESSES: Interested persons are invited to submit comments regarding this proposal. Comments must be received within fourteen (14) days from the date of this Notice. Comments should refer to the proposal by name/or OMB approval number) and should be sent to: HUD Desk Officer, Office of Management and Budget, New Executive Office Building, Washington, DC 20503; email: Patrick.J.Fuch@OMB. eop.gov; fax: 202–395–6974. FOR FURTHER INFORMATION CONTACT: Colette Pollard, Office of Chief Information Officer, 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 mstockstill on DSK4VPTVN1PROD with NOTICES SUMMARY: VerDate Mar<15>2010 17:22 Oct 22, 2012 Jkt 229001 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: Real Estate Settlement Procedures Act (RESPA) Disclosures. OMB Control Number, if applicable: 2502–0265. Description of the need for the information and proposed use: This collection is a reinstatement of a discontinued information collection. The Real Estate Settlement Procedures Act of 1974, (RESPA), 12 U.S.C. 2601 et seq., and Regulation X, codified at 24 CFR 3500, require real estate settlement service providers to give homebuyers certain disclosure information at and before settlement, and pursuant to the servicing of the loan and escrow account. This includes a Special Information Booklet, a Good Faith Estimate, a Servicing Disclosure Statement, the Form HUD–1 or Form HUD–1A, and when applicable an Initial Escrow Account Statement, an Annual Escrow Account Statement, a Consumer Disclosure for Voluntary Escrow Account Payments, an Affiliated Business Arrangement Disclosure, and a Servicing Transfer Disclosure. Under the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act), rulemaking authority for and certain enforcement authorities with respect to the Real Estate Settlement Procedures Act (RESPA) of 1974, as amended by Section 461 of the Housing and Urban-Rural Recovery Act of 1983 (HURRA), and other various PO 00000 Frm 00028 Fmt 4703 Sfmt 4703 × Hours per response 36.325 = Burden hours 48,168 amendments, transferred from the Department of Housing and Urban Development (HUD) to the Consumer Financial Protection Bureau (CFPB) on July 21, 2011. The Dodd-Frank Act also directed the CFPB to integrate certain disclosures required by the Truth in Lending Act (TILA) with certain disclosures required by the Real Estate Settlement Procedures Act (RESPA) of 1974. The CFPB expects the content and format of information collection forms under this clearance, HUD’s existing HUD–1/1A and GFE forms, to be significantly revised or replaced by rulemaking. The CFPB published proposed rules in July and August of 2012 to that effect. Historically, in order to satisfy information collection requirements under the Paperwork Reduction Act (PRA), the HUD–1/1A and GFE listed HUD’s Office of Management and Budget (OMB) control number, 2502– 0265. While the CFPB will be, upon OMB approval of this information collection request, the ‘‘owner’’ of this information collection, the CFPB believes that requiring covered persons to modify existing forms solely to replace HUD’s OMB control number with the Bureau’s OMB control number would impose substantial burden on covered persons with limited or no net benefit to consumers. Accordingly, the CFPB has reached an agreement with OMB and HUD whereby covered persons may continue to list HUD’s OMB control number on the HUD–1/1A and GFE forms until a final rule to the contrary takes effect. Covered persons also have the option of replacing HUD’s OMB control number with the Bureau’s OMB control number on the HUD–1/1A and GFE forms until a final rule to the contrary takes effect. Once the CFPB’s final rule takes effect, regulated industry will no longer be able to use the HUD control number. Agency form numbers, if applicable: HUD–1, HUD–1A and [GFE form number to be determined]. 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 total number of annual burden hours needed to prepare the information is 17,183,450; the number of respondents is estimated to be 50,000 generating approximately 149,589,500 responses annually; these are third party disclosures, the E:\FR\FM\23OCN1.SGM 23OCN1 64822 Federal Register / Vol. 77, No. 205 / Tuesday, October 23, 2012 / Notices frequency of response is annually for one disclosure and as required for others; and the estimated time per response varies from 2 minutes to 35 minutes. Authority: The Paperwork Reduction Act of 1995, 44 U.S.C. Chapter 35, as amended. Dated: October 18, 2012. Colette Pollard, Departmental Reports Manager. [FR Doc. 2012–26067 Filed 10–22–12; 8:45 am] BILLING CODE 4210–67–P DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT [Docket No. FR–5603–N–73] Notice of Submission of Proposed Information Collection to OMB; Notice of Application for Designation as a Single Family Foreclosure Commissioner Office of the Chief Information Officer, HUD. ACTION: Notice. AGENCY: The proposed information collection requirement described below has been 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. Under the Single Family Mortgage Foreclsoure Act of 1994, HUD may exercise a nonjudicial Power of Sale of single family HUD-held mortgages and SUMMARY: may appoint Foreclosure Commissioners to do this. HUD needs the Notice and resulting appliations for compliance with the Act’s requirements that commissioners be qualified. Most respondents will be attorneys, but anyone may apply. DATES: Comments Due Date: November 23, 2012. ADDRESSES: Interested persons are invited to submit comments regarding this proposal. Comments should refer to the proposal by name and/or OMB approval Number (2510–0012) and should be sent to: HUD Desk Officer, Office of Management and Budget, New Executive Office Building, Washington, DC 20503; fax: 202–395–5806. Email: OIRA_Submission@omb.eop.gov fax: 202–395–5806. FOR FURTHER INFORMATION CONTACT: Colette Pollard, Reports Management Officer, QDAM, Department of Housing and Urban Development, 451 Seventh Street SW., Washington, DC 20410; email Colette Pollard at Colette.Pollard@hud.gov; or telephone (202) 402–3400. This is not a toll-free number. Copies of available documents submitted to OMB may be obtained from Ms. Pollard. SUPPLEMENTARY INFORMATION: This notice informs the public that the Department of Housing and Urban Development has submitted to OMB a request for approval of the Information collection described below. This notice is soliciting comments from members of the public and affecting agencies concerning the proposed collection of information to: (1) Evaluate whether the proposed collection of information 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 through 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 Proposed: Notice of Application for Designation as a Single Family Foreclosure Commission. OMB Approval Number: 2510–0012. Form Numbers: None. Description of the need for the information and proposed use: Under the Single Family Mortgage Foreclosure Act of 1994, HUD may exercise a nonjudicial Power of Sale of single family HUD-held mortgages and may appoint Foreclosure Commissioners to do this. HUD needs the Notice and resulting appliations for compliance with the Act’s requirements that commissioners be qualified. Most respondents will be attorneys, but anyone may apply. Number of respondents Annual responses 30 1 Reporting Burden .............................................................................. Total estimated burden hours: 15. Status: Extension of a currently approved collection. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT [Docket No. FR–5603–N–75] Authority: Section 3507 of the Paperwork Reduction Act of 1995, 44 U.S.C. 35, as amended. Dated: October 17, 2012. Colette Pollard, Department Reports Management Officer, Office of the Chief Information Officer. [FR Doc. 2012–25988 Filed 10–22–12; 8:45 am] Notice of Submission of Proposed Information Collection to OMB; Rental Assistance Demonstration (RAD); Supporting Contracts and Processing Requirements Office of the Chief Information Officer, HUD. ACTION: Notice. AGENCY: mstockstill on DSK4VPTVN1PROD with NOTICES BILLING CODE 4210–67–P The proposed information collection requirement described below has been 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. SUMMARY: VerDate Mar<15>2010 17:22 Oct 22, 2012 Jkt 229001 PO 00000 Frm 00029 Fmt 4703 Sfmt 4703 × Hours per response 0.5 = Burden hours 15 The Rental Assistance Demonstration allows Public Housing and Moderate Rehabilitation (Mod Rehab) properties to convert to long-term Section 8 rental assistance contracts; and Rent Supplement (Rent Supp), Rental Assistance Payment (RAP), and Mod Rehab properties, upon contract expiration or termination, to convert tenant protection vouchers (TPVs) to project-based vouchers (PBVs). Participation in the initiative will be voluntary. Public Housing Agencies, Mod Rehab owners interested in participating in the Demonstration are required to submit supplementary documentation through these processing requirements to HUD so that HUD can determine throughout the conversion process the physical and financial sustainability of properties. As such, the E:\FR\FM\23OCN1.SGM 23OCN1

Agencies

[Federal Register Volume 77, Number 205 (Tuesday, October 23, 2012)]
[Notices]
[Pages 64821-64822]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2012-26067]


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DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT

[Docket No. FR-5603-N-76]


Notice of Submission of Proposed Information Collection to OMB; 
Emergency Comment Request; Real Estate Settlement Procedures Act 
Disclosures

AGENCY: Office of the Chief Information Officer.

ACTION: Notice of proposed information collection.

-----------------------------------------------------------------------

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

DATES: Comments Due Date: November 6, 2012.

ADDRESSES: Interested persons are invited to submit comments regarding 
this proposal. Comments must be received within fourteen (14) days from 
the date of this Notice. Comments should refer to the proposal by name/
or OMB approval number) and should be sent to: HUD Desk Officer, Office 
of Management and Budget, New Executive Office Building, Washington, DC 
20503; email: Patrick.J.Fuch@OMB.eop.gov; fax: 202-395-6974.

FOR FURTHER INFORMATION CONTACT: Colette Pollard, Office of Chief 
Information Officer, 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: Real Estate Settlement Procedures Act (RESPA) 
Disclosures.
    OMB Control Number, if applicable: 2502-0265.
    Description of the need for the information and proposed use: This 
collection is a reinstatement of a discontinued information collection. 
The Real Estate Settlement Procedures Act of 1974, (RESPA), 12 U.S.C. 
2601 et seq., and Regulation X, codified at 24 CFR 3500, require real 
estate settlement service providers to give homebuyers certain 
disclosure information at and before settlement, and pursuant to the 
servicing of the loan and escrow account. This includes a Special 
Information Booklet, a Good Faith Estimate, a Servicing Disclosure 
Statement, the Form HUD-1 or Form HUD-1A, and when applicable an 
Initial Escrow Account Statement, an Annual Escrow Account Statement, a 
Consumer Disclosure for Voluntary Escrow Account Payments, an 
Affiliated Business Arrangement Disclosure, and a Servicing Transfer 
Disclosure.
    Under the Dodd-Frank Wall Street Reform and Consumer Protection Act 
(Dodd-Frank Act), rulemaking authority for and certain enforcement 
authorities with respect to the Real Estate Settlement Procedures Act 
(RESPA) of 1974, as amended by Section 461 of the Housing and Urban-
Rural Recovery Act of 1983 (HURRA), and other various amendments, 
transferred from the Department of Housing and Urban Development (HUD) 
to the Consumer Financial Protection Bureau (CFPB) on July 21, 2011. 
The Dodd-Frank Act also directed the CFPB to integrate certain 
disclosures required by the Truth in Lending Act (TILA) with certain 
disclosures required by the Real Estate Settlement Procedures Act 
(RESPA) of 1974. The CFPB expects the content and format of information 
collection forms under this clearance, HUD's existing HUD-1/1A and GFE 
forms, to be significantly revised or replaced by rulemaking. The CFPB 
published proposed rules in July and August of 2012 to that effect.
    Historically, in order to satisfy information collection 
requirements under the Paperwork Reduction Act (PRA), the HUD-1/1A and 
GFE listed HUD's Office of Management and Budget (OMB) control number, 
2502-0265. While the CFPB will be, upon OMB approval of this 
information collection request, the ``owner'' of this information 
collection, the CFPB believes that requiring covered persons to modify 
existing forms solely to replace HUD's OMB control number with the 
Bureau's OMB control number would impose substantial burden on covered 
persons with limited or no net benefit to consumers. Accordingly, the 
CFPB has reached an agreement with OMB and HUD whereby covered persons 
may continue to list HUD's OMB control number on the HUD-1/1A and GFE 
forms until a final rule to the contrary takes effect. Covered persons 
also have the option of replacing HUD's OMB control number with the 
Bureau's OMB control number on the HUD-1/1A and GFE forms until a final 
rule to the contrary takes effect. Once the CFPB's final rule takes 
effect, regulated industry will no longer be able to use the HUD 
control number.
    Agency form numbers, if applicable: HUD-1, HUD-1A and [GFE form 
number to be determined].
    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 total number of annual burden 
hours needed to prepare the information is 17,183,450; the number of 
respondents is estimated to be 50,000 generating approximately 
149,589,500 responses annually; these are third party disclosures, the

[[Page 64822]]

frequency of response is annually for one disclosure and as required 
for others; and the estimated time per response varies from 2 minutes 
to 35 minutes.

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

    Dated: October 18, 2012.
Colette Pollard,
Departmental Reports Manager.
[FR Doc. 2012-26067 Filed 10-22-12; 8:45 am]
BILLING CODE 4210-67-P
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