Notice2022-18893
Submission for OMB Review; Notice of Request for Emergency Approval
Primary source
Metadata and text below are from the Federal Register, a public-domain U.S. government work. Always verify the official published version before relying on it for any legal matter.
Published
September 1, 2022
Issuing agencies
Agriculture Department
Full Text
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[Federal Register Volume 87, Number 169 (Thursday, September 1, 2022)]
[Notices]
[Page 53710]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2022-18893]
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Federal Register / Vol. 87, No. 169 / Thursday, September 1, 2022 /
Notices
[[Page 53710]]
DEPARTMENT OF AGRICULTURE
Submission for OMB Review; Notice of Request for Emergency
Approval
In compliance with the requirements of the Paperwork Reduction Act
of 1995 (PRA), the Department of Agriculture (USDA) has submitted a
request to the Office of Management and Budget (OMB) for a six-month
emergency approval of the following information collection: ICR 0575-
NEW, American Rescue Plan Act, 2021 (ARPA)--7 CFR PART 3550, ``DIRECT
SINGLE FAMILY HOUSING SECTIONS 502 and 504 LOAN PROGRAMS. The requested
approval would enable the implementation of this program to begin to
extend funds available to borrowers to refinancing loans with a lower
interest rate and extended terms.
Rural Housing Service
Title: American Rescue Plan Act, 2021 (ARPA)--7 CFR PART 3550,
``DIRECT SINGLE FAMILY HOUSING SECTIONS 502 and 504 LOAN PROGRAMS.
OMB Control Number: 0575-NEW.
Summary of Collection: The Rural Housing Service is requesting
emergency clearance approval for this information collection due to the
need to effectively implement the program as quickly as possible to
administer The American Rescue Plan's (ARPA) Act of 2021 (Pub. L. 117-
2; H.R. 1319, section 3207) additional $39 million of Budget Authority
(BA) for Single Family Housing (SFH) Section 502 and 504 Direct Loan
Program borrowers. Funds remain available until September 30, 2023. The
Agency's initial objective under the ARP Act is to refinance the
existing 23,000 Section 502 direct and Section 504 borrowers who have
been granted and received a COVID-19 payment moratorium. Refinancing
these loans with a lower interest rate and extended terms will help
provide needed relief to borrowers, so that mortgage payments are more
affordable post-moratorium.
Levi S. Harrell,
Departmental Information Collection Clearance Officer.
[FR Doc. 2022-18893 Filed 8-31-22; 8:45 am]
BILLING CODE 3410-XY-P
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