Notice2023-27061
30-Day Notice of Proposed Information Collection: HUD Conditional Commitment/Direct Endorsement Statement of Appraised Value; OMB Control No.: 2502-0494
Primary source
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Published
December 11, 2023
Issuing agencies
Housing and Urban Development Department
Abstract
HUD is seeking approval from the Office of Management and Budget (OMB) for the information collection described below. In accordance with the Paperwork Reduction Act, HUD is requesting comment from all interested parties on the proposed collection of information. The purpose of this notice is to allow for an additional 30 days of public comment.
Full Text
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<title>Federal Register, Volume 88 Issue 236 (Monday, December 11, 2023)</title>
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[Federal Register Volume 88, Number 236 (Monday, December 11, 2023)]
[Notices]
[Pages 85901-85902]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2023-27061]
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DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT
[Docket No. 7070-N-94]
30-Day Notice of Proposed Information Collection: HUD Conditional
Commitment/Direct Endorsement Statement of Appraised Value; OMB Control
No.: 2502-0494
AGENCY: Office of Policy Development and Research, Chief Data Officer,
HUD.
ACTION: Notice.
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SUMMARY: HUD is seeking approval from the Office of Management and
Budget (OMB) for the information collection described below. In
accordance with the Paperwork Reduction Act, HUD is requesting comment
from all interested parties on the proposed collection of information.
The purpose of this notice
[[Page 85902]]
is to allow for an additional 30 days of public comment.
DATES: Comments Due Date: January 10, 2024.
ADDRESSES: Interested persons are invited to submit comments regarding
this proposal. Written comments and recommendations for the proposed
information collection should be sent within 30 days of publication of
this notice to <a href="http://www.reginfo.gov/public/do/PRAMain">www.reginfo.gov/public/do/PRAMain</a>. Find this particular
information collection by selecting ``Currently under 30-day Review--
Open for Public Comments'' or by using the search function. Interested
persons are also invited to submit comments regarding this proposal and
comments should refer to the proposal by name and/or OMB Control Number
and should be sent to: Colette Pollard, Clearance Officer, REE,
Department of Housing and Urban Development, 451 7th Street SW, Room
8210, Washington, DC 20410-5000; email
<a href="/cdn-cgi/l/email-protection#bbebdacbdec9ccd4c9d0e9dedfced8cfd2d4d5fad8cff4ddddd2d8defbd3cedf95dcd4cd"><span class="__cf_email__" data-cfemail="bdeddccdd8cfcad2cfd6efd8d9c8dec9d4d2d3fcdec9f2dbdbd4ded8fdd5c8d993dad2cb">[email protected]</span></a>.
FOR FURTHER INFORMATION CONTACT: Colette Pollard, Reports Management
Officer, REE, Department of Housing and Urban Development, 451 7th
Street SW, Washington, DC 20410; email <a href="/cdn-cgi/l/email-protection#99daf6f5fcededfcb7c9f6f5f5f8ebfdd9f1ecfdb7fef6ef"><span class="__cf_email__" data-cfemail="63200c0f061717064d330c0f0f021107230b16074d040c15">[email protected]</span></a> or
telephone 202-402-3400. This is not a toll-free number. HUD welcomes
and is prepared to receive calls from individuals who are deaf or hard
of hearing, as well as individuals with speech or communication
disabilities. To learn more about how to make an accessible telephone
call, please visit: <a href="https://www.fcc.gov/consumers/guides/telecommunications-relay-service-trs">https://www.fcc.gov/consumers/guides/telecommunications-relay-service-trs</a>.
Copies of available documents submitted to OMB may be obtained from
Ms. Pollard.
SUPPLEMENTARY INFORMATION: This notice informs the public that HUD is
seeking approval from OMB for the information collection described in
Section A. The Federal Register notice that solicited public comment on
the information collection for a period of 60 days was published on
September 5, 2023, at 88 FR 60705.
A. Overview of Information Collection
Title of Information Collection: HUD Conditional Commitment/Direct
Endorsement Statement of Appraised Value.
OMB Control Number, if applicable: 2502-0494.
Type of Request: Extension of currently approved collection.
Form Number: HUD 92800.5B.
Description of the need for the information and proposed use:
Lenders must provide loan applicants a completed copy of Form HUD-
92800.5B at or before loan closing. Form HUD-92800.5B serves as the
mortgagee's conditional commitment/direct endorsement statement of
appraised value of Federal Housing Administration (FHA) mortgage
insurance on the property. The form provides a section for the
statement of the property's appraised value and other required FHA
disclosures to the borrower, including specific conditions that must be
met before HUD can endorse a mortgage for FHA insurance. HUD uses the
information to determine the eligibility of a property for mortgage
insurance.
Respondents: Mortgagees.
Estimated Number of Respondents: 1,407.
Estimated Number of Responses: 562,800.
Frequency of Response: 400.
Average Hours per Response: 0.12.
Total Estimated Burdens: 67,536.
B. Solicitation of Public Comment
This notice is soliciting comments from members of the public and
affected parties concerning the collection of information described in
Section A on the following:
(1) 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) The accuracy of the agency's estimate of the burden of the
proposed collection of information;
(3) Ways to enhance the quality, utility, and clarity of the
information to be collected; and
(4) Ways to 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.
(5) ways to minimize the burden of the collection of information on
those who are to respond, including the use of automated collection
techniques or other forms of information technology.
HUD encourages interested parties to submit comments in response to
these questions.
C. Authority
Section 3507 of the Paperwork Reduction Act of 1995, 44 U.S.C.
Chapter 35.
D. Summary of Form 92800.5B Comments and HUD Responses
Comment: A commenter shared their understanding that FHA requires
lenders to utilize the 92800.5B to comply with the Consumer Financial
Protection Bureau's (CFPB) requirement for lenders to provide borrows a
copy of the appraisal report promptly upon completion or at least three
days prior to the closing of the loan. The commenter recommends that
FHA remove its requirement for lenders to utilize the HUD Form
92800.5B, Conditional Commitment/Direct Endorsement Statement of
Appraised Value. The commenter felt the 92800.5B is obsolete and
duplicative due to borrower's receiving a copy of the appraisal report
with the HUD Form 92900-LT, FHA Loan Underwriting and Transmittal
Summary.
HUD Response: HUD appreciates this comment. Although the HUD Form
92800.5B and the 92900-LT state the Appraised Value, neither form is
tied to CFPB's requirements for providing the Borrower a copy of the
appraisal report or the Borrower's receipt of the appraisal report.
Form 92800.5B provides other required FHA disclosures to the borrower,
including specific conditions that must be met before HUD can endorse a
mortgage for FHA insurance. Consideration may be given to necessary
updates at a future date.
Colette Pollard,
Department Reports Management Officer, Office of Policy Development and
Research, Chief Data Officer.
[FR Doc. 2023-27061 Filed 12-8-23; 8:45 am]
BILLING CODE P
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