[Federal Register Volume 61, Number 105 (Thursday, May 30, 1996)]
[Notices]
[Pages 27092-27093]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 96-13503]



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DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT
[Docket No. FR-3917-N-83]


Office of the Assistant Secretary for Housing-Federal Housing 
Commissioner; Notice of Proposed Information Collection for Public 
Comment

AGENCY: Office of the Assistant Secretary for Housing-Federal Housing 
Commissioner, HUD.

ACTION: Notice.

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SUMMARY: The proposed information requirement described below will be 
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.

DATES: July 29, 1996.

ADDRESSES: Interested persons are invited to submit comments regarding 
this proposal. Comments should refer to the proposal by name and/or OMB 
Control Number and should be sent to: Oliver Walker, Housing, 
Department of Housing and Urban Development, 451 7th Street SW., Room 
9116, Washington, DC 20410.

FOR FURTHER INFORMATION CONTACT:
Donald Kline, Single Family Insurance Operations Division (SFIOD), 
telephone number (202) 708-0614 ext. 3511 for form HUD-27050-A or 
Savannah Williams, SFIOD, telephone number (202) 708-0614 ext. 3407 for 
form HUD-27050-B (these are not toll-free numbers) for copies of the 
proposed forms and other available documents.

SUPPLEMENTARY INFORMATION: The Department will submit 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).
    The 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 proper performance of the function 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 Proposal: Mortgage Insurance Termination--HUD-27050-A, 
Application for Premium Refund or Distributive Share Payment, HUD-
27050-B.
    OMB Control Number: 2502-0414.
    Description of the Need for the Information and Proposed Use: 
Mortgage Insurance Termination, form HUD-27050-A, is used by servicing 
mortgagees to comply with HUD requirements for reporting termination of 
FHA mortgage insurance. This form is used whenever FHA mortgage 
insurance is terminated and no claim for insurance benefits will be 
filed. Under the new streamline III program when the form is submitted 
on magnetic tape, the form can be used to directly pay eligible 
homeowners. This condition occurs when the form passes the criteria of 
certain system edits.
    As the result the system generates a disbursement to the eligible 
homeowners for the refund consisting of the unused portion of the paid 
premium. The collection information required is used to update HUD's 
Single Family Insurance System. The billing of

[[Page 27093]]

mortgage insurance premiums is discontinued as a result of the 
transaction. Without this information the premium collection/monitoring 
function would be severely impeded and program data would be 
unreliable. Under streamline III when the form is processed and but 
does not pass the series of edits the system generates in these cases 
the form HUD-27050-B to the homeowner to be completed and returned to 
HUD for further processing for the refund. In general a Premium Refund 
is the difference between the amount of prepaid premium and the amount 
of the premium that has been earned by HUD up to the time the mortgage 
is terminated.
    Estimate of Burden: Public reporting burden for this collection of 
information for the HUD-27050-A is estimated to average 5 minutes per 
response, including the time for reviewing instructions, searching 
existing data sources gathering and maintaining the data needed, and 
completing and reviewing the collection of information. The number of 
respondents is 9,500 and the frequency of response is as required and 
the volume per respondents is 1 to 40,000 depending on the size of 
their FHA portfolio.
    Public reporting burden for this collection of information for the 
HUD-27-50-B estimated to average 15 minutes per response, including the 
time for reviewing instructions, searching existing data sources 
gathering and maintaining the data needed, and completing and reviewing 
the collection of information. The number of respondents is 382,000 and 
the frequency of response is one time and the volume per respondents is 
1.

    Authority: Section 3506 of the Paperwork Reduction Act of 1995, 
44 U.S.C. Chapter 35, as amended.

    Dated: May 23, 1996.
Nicolas P. Retsinas,
Assistant Secretary for Housing-Federal Housing Commissioner.
[FR Doc. 96-13503 Filed 5-29-96; 8:45 am]
BILLING CODE 4210-27-M