[Federal Register Volume 89, Number 212 (Friday, November 1, 2024)]
[Notices]
[Pages 87394-87395]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2024-25485]


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DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT

[Docket No. FR-7086-N-29]


60-Day Notice of Proposed Information Collection: Performing 
Loans Servicing for the Home Equity Conversion Mortgage (HECM); OMB 
Control No.: 2502-0611

AGENCY: Office of the Assistant Secretary for Housing-Federal Housing 
Commissioner, 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 is to allow for 60 days of public comment.

DATES: Comments Due Date: December 31, 2024.

ADDRESSES: Interested persons are invited to submit comments regarding 
this proposal.
    Written comments and recommendations for the proposed information 
collection can be sent within 60 days of publication of this notice to 
www.regulations.gov.
    Interested persons are also invited to submit comments regarding 
this proposal by name and/or OMB Control Number and can be sent to: 
Colette Pollard, Reports Management Officer, REE, Department of Housing 
and Urban Development, 451 7th Street SW, Room 8210, Washington, DC 
20410-5000; telephone (202) 402-3400. (this is not a toll-free number) 
or email at <a href="/cdn-cgi/l/email-protection#f6b5999a93828293d8a6999a9a978492b69e8392d8919980"><span class="__cf_email__" data-cfemail="bcffd3d0d9c8c8d992ecd3d0d0ddced8fcd4c9d892dbd3ca">[email protected]</span></a> for a copy of the proposed forms or 
other available information.

FOR FURTHER INFORMATION CONTACT: Colette Pollard Department of Housing 
and Urban Development, 451 7th Street SW, Room 4186, Washington, DC 
20410; telephone (202) 402-3577, (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 https://www.fcc.gov/consumers/guides/telecommunications-relay-service-trs.
    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.

A. Overview of Information Collection

    Title of Information Collection: Performing Loans Servicing for the 
Home Equity Conversion Mortgage (HECM).
    OMB Approval Number: 2502-0611.
    Type of Request: Revision of currently approved collection.
    Form Number: HUD-50002, HUD-50012.

[[Page 87395]]

    Description of the need for the information and proposed use: This 
information request is a comprehensive collection of requirements for 
mortgagees that service HECMs and HECM borrowers, who are involved with 
servicing-related activities that includes collection and payment of 
mortgage insurance premiums, escrow account administration, providing 
loan information and customer service.
    Estimated Number of Respondents: 185.
    Frequency of Response: Monthly.
    Estimated Number of Responses: 8,843,450.
    Average Hours per Response: 0.14.
    Total Estimated Burdens: 1,205,638.75.

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                                    Number of        Frequency of     Responses per   Burden hour per   Annual burden   Hourly cost per
     Information collection        respondents         response           annum           response          hours           response       Annual cost
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Performing Loan Servicing for               185   Monthly..........       8,843,450             0.14     1,205,638.75           $34.16      $41,184,620
 the Home Equity Conversion
 Mortgage (HECM).
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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.
    HUD encourages interested parties to submit comment in response to 
these questions.

C. Authority

    Section 3507 of the Paperwork Reduction Act of 1995, 44 U.S.C. 
chapter 35.

Jeffrey D. Little,
General Deputy Assistant Secretary for Housing.
[FR Doc. 2024-25485 Filed 10-31-24; 8:45 am]
BILLING CODE 4210-67-P


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