Department of Housing and Urban Development December 29, 2005 – Federal Register Recent Federal Regulation Documents

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. This information is required for approval of all FHA Title I lender and Title II mortgagees; issuers of Ginnie Mae mortgage-backed securities. Additional information is then required of all FHA approved Title I lenders and Title II mortgagees to: (1) Maintain their approval (annual Recertification); (2) add/delete branches; (3) pay additional fees to FHA for annual Recertification, new branches, and business conversions; (4) report business changes of lender or mortgagee including structure, addresses, and principal owners and officers; (5) report non-compliance detected by lender and mortgagee quality control plans; and (6) voluntarily terminate FHA approval.

This final rule establishes the requirement for applicants for HUD grants or certain other financial assistance to submit their applications to HUD electronically. This final rule follows publication of a proposed rule on November 23, 2004. HUD received four comments in response to the proposed rule's invitation for public comment. After careful consideration of the comments, this rule makes final without substantive changes the proposed rule published on November 23, 2004.