[Federal Register Volume 73, Number 192 (Thursday, October 2, 2008)]
[Notices]
[Pages 57377-57378]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: E8-23174]


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DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT

[Docket No. FR-5187-N-55]


Request for Credit Approval of Substitute Mortgagor

AGENCY: Office of the Chief Information Officer, HUD.

ACTION: Notice.

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SUMMARY: 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.
    A buyer may assume an FHA-insured mortgage by becoming the 
substitute mortgagor through the credit approval process. Prior to 
releasing a seller from liability on the mortgage note or for mortgages 
after December 15, 1989, HUD or a Direct Endorsement (DE) lender must 
review the credit of the assumer and record the approval.

DATES: Comments Due Date: November 3, 2008.

[[Page 57378]]


ADDRESSES: Interested persons are invited to submit comments regarding 
this proposal. Comments should refer to the proposal by name and/or OMB 
approval Number (2502-0036) and should be sent to: HUD Desk Officer, 
Office of Management and Budget, New Executive Office Building, 
Washington, DC 20503; fax: 202-395-6974.

FOR FURTHER INFORMATION CONTACT: Lillian Deitzer, Reports Management 
Officer, QDAM, Department of Housing and Urban Development, 451 Seventh 
Street, SW., Washington, DC 20410; e-mail Lillian Deitzer at <a href="/cdn-cgi/l/email-protection#85c9ece9e9ece4ebdac9abdac1e0ecf1ffe0f7c5cdd0c1abe2eaf3"><span class="__cf_email__" data-cfemail="e0ac898c8c89818ebfaccebfa48589949a8592a0a8b5a4ce878f96">[email protected]</span></a> or telephone (202) 402-8048. This is not a toll-
free number. Copies of available documents submitted to OMB may be 
obtained from Ms. Deitzer.

SUPPLEMENTARY INFORMATION: This notice informs the public that the 
Department of Housing and Urban Development has submitted to OMB a 
request for approval of the Information collection described below. 
This 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 the proper performance of the functions 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: Request for Credit Approval of Substitute 
Mortgagor.
    OMB Approval Number: 2502-0036.
    Form Numbers: HUD-92210 Request for Credit Approval of Substitute 
Mortgagor, HUD-92210.1 Approval of Purchaser and Release of Seller, 
HUD-92900-A HUD/VA Addendum to Uniform Residential Loan Application.
    Description of the Need for the Information and its Proposed Use: A 
buyer may assume an FHA-insured mortgage by becoming the substitute 
mortgagor through the credit approval process. Prior to releasing a 
seller from liability on the mortgage note or for Mortgages after 
December 15, 1989, HUD or a Direct Endorsement (DE) lender must review 
the credit of the assumer and record the approval.
    Frequency of Submission: On occasion.

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                                     Number of              Annual             Hours per
                                    respondents     x     responses      x      response      =    Burden hours
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Reporting Burden................             100   ..               4   ..               2   ..             800
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    Total Estimated Burden Hours: 800.
    Status: Extension of a currently approved collection.

    Authority: Section 3507 of the Paperwork Reduction Act of 1995, 
44 U.S.C. 35, as amended.

    Dated: September 25, 2008.
Lillian L. Deitzer,
Departmental Paperwork Reduction Act Officer, Office of the Chief 
Information Officer.
 [FR Doc. E8-23174 Filed 10-1-08; 8:45 am]
BILLING CODE 4210-67-P


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