30-Day Notice of Proposed Information Collection: Comment Request Performing Loans Servicing for the Home Equity Conversion Mortgage (HECM)

DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT

[Docket No. FR-7092-N 38; OMB Control No.: 2502-0611]

30-Day Notice of Proposed Information Collection: Comment Request Performing Loans Servicing for the Home Equity Conversion Mortgage (HECM)

ACTION:

Notice.

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 comments from all interested parties on the proposed collection of information. The purpose of this notice is to allow for 30 days of public comment.

DATES:

Comments Due Date:

January 5, 2026.

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

www.reginfo.gov/public/do/PRAMain.

Find this particular information collection by selecting “Currently under 30-day Review—Open for Public Comments” or by using the search function.

FOR FURTHER INFORMATION CONTACT:

Anna Guido, PRA Compliance Officer, Paperwork Reduction Act Division, PRAD, Department of Housing and Urban Development, 451 7th Street SW, Room 8210, Washington, DC 20410; email at

PaperworkReductionActOffice@hud.gov,

ATTN: Anna Guido, telephone (202) 402-5535. This is not a toll-free number. HUD welcomes and is prepared to receive calls om 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. Guido.

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 November 1, 2024 at 89 FR 87394.

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:

Reinstatement, with change.

Form Number:

HUD-50002, HUD-50012 (screenshot).

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.

Information

collection

Number of

respondents

Frequency of

response

Responses

per annum

Burden hour

per response

Annual

burden

hours

Hourly

cost per

response

Annual

cost

Set-Aside Account Administration

Property Charge Payments

20.00

20,000.00

400,000.00

0.50

200,000.00

$24.54

$4,908,000.00

Evidence That Property Charges Have Been Paid

20.00

17,500.00

350,000.00

0.20

70,000.00

24.54

1,717,800.00

Execution of Payment Plan Changes

20.00

1,000.00

20,000.00

0.50

10,000.00

24.54

245,400.00

Surplus in Set-Aside Account

20.00

1,250.00

25,000.00

0.20

5,000.00

24.54

122,700.00

Mortgage Insurance Premiums (MIP)

Monthly MIP Payments

20.00

330,000.00

6,600,000.00

0.10

660,000.00

24.54

16,196,400.00

Property Repair Administration

Requests for Disbursement of Funds

20.00

376.25.00

7,525.00

0.40

3,010.00

24.54

73,865.40

Extension Request to Complete Repairs Required as a Condition of the Mortgage

20.00

250.00

5,000.00

0.40

2,000.00

24.54

49,080.00

Report of Hazard Insurance Claims

20.00

250.00

5,000.00

0.40

2,000.00

24.54

49,080.00

Request for Inspection of Repairs in Order to Release Funds

20.00

250.00

5,000.00

0.40

2,000.00

24.54

49,080.00

Request for Excess Repair Set Aside Funds to Be Disbursed to the Borrower or Moved into the Line of Credit after Repairs Are Completed

20.00

250.00

5,000.00

0.40

2,000.00

24.54

49,080.00

Compliance

Annual Occupancy Certification

20.00

25,000.00

500,000.00

0.10

50,000.00

24.54

1,227,000.00

Model Doc HECM Borrower and Non-Borrowing Spouse Certification

20.00

25.00

500.00

0.10

50.00

24.54

1,227.00

HECM Loss Mitigation

Referral to HECM Counselor

20.00

1,250.00

25,000.00

0.10

25,000.00

24.54

61,350.00

Referring the borrower to federal or state or local programs for assistance

20.00

375.00

7,500.00

0.10

750.00

24.54

18,405.00

HECM Loan Refinance

20.00

250.00

5,000.00

0.50

2,500.00

24.54

61,350.00

Attempting to negotiate a repayment plan

20.00

625.00

12,500.00

0.50

6,250.00

24.54

153,375.00

Borrowers providing evidence of application to any such available programs

20.00

112.50

2,250.00

0.25

562.50

24.54

13,803.75

Borrower providing confirmation of approval for assistance

20.00

112.50

2,250.00

0.25

562.50

24.54

13,803.75

Execution of any agreed-upon repayment plan

20.00

375.00

7,500.00

0.50

3,750.00

24.54

92,025.00

Request for a Change in Payment Plan

20.00

150.00

3,000.00

0.25

750.00

24.54

18,405.00

Repayment Plan Administration

20.00

375.00

7,500.00

0.25

1,875.00

24.54

46,012.50

Post-Due and Payable Events

Providing a Letter of Intent to Select an Option Other Than Foreclosure

20.00

1,250.00

25,000.00

0.25

6,250.00

24.54

153,375.00

Signature to a Deed in Lieu of Foreclosure If That Option Is Selected

20.00

375.00

7,500.00

0.25

1,875.00

24.54

46,012.50

Providing a Listing Agreement and the Sales Contract

20.00

625.00

12,500.00

0.25

3,125.00

24.54

76,687.50

Loss Mitigation Reporting

20.00

1,500.00

30,000.00

0.17

5,100.00

24.54

125,154.00

Due and Payable Events

Requesting Due and Payable Designation

20.00

752.50

15,050.00

0.10

1,505.00

24.54

36,932.70

Providing Legal Documents Such as Power of Attorney or Trust

20.00

18.75

375.00

0.33

123.75

24.54

3,036.83

Borrower or Estate Notification of a Due and Payable Event

20.00

1,250.00

25,000.00

0.17

4,250.00

24.54

104,295.00

Providing Mortgagee with a Death Certificate or Evidence of Non-Occupancy

20.00

375.00

7,500.00

0.33

2,475.00

24.54

60,736.50

Due and Payable Notification to HUD

20.00

1,875.00

37,500.00

0.10

3,750.00

24.54

92,025.00

Other Information Exchanges

Electronic HUD-50012 New Extension Request

20.00

12,500.00

250,000.00

0.25

62,500.00

24.54

1,533,750.00

HUD 50002 Request to Exceed Cost Limits for Preservation and Protection

20.00

12,500.00

250,000.00

0.25

62,500.00

24.54

1,533,750.00

Compliance Package

20.00

1,875.00

37,500.00

0.10

3,750.00

24.54

92,025.00

Servicing Package

20.00

1,875.00

37,500.00

0.10

3,750.00

24.54

92,025.00

Borrowers' Requests for Partial Release

20.00

1,875.00

37,500.00

0.17

6,375.00

24.54

156,442.50

Requests for payoff Statements

20.00

1,875.00

37,500.00

0.17

6,375.00

24.54

156,442.50

Request for Appraisal to Sell Property if Not Due and Payable

20.00

1,875.00

37,500.00

0.17

6,375.00

24.54

156,442.50

Total

740.00

8,843,450.00

1,205,638.75

$29,586,374.93

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 2 of the Paperwork Reduction Act of 1995, 44 U.S.C. 3507.

Anna Guido,

Department PRA Compliance Officer, Office of Policy Development and Research, Chief Data Officer.

[FR Doc. 2025-21926 Filed 12-3-25; 8:45 am]

BILLING CODE 4210-67-P