Office of the Assistant Secretary for Housing-Federal Housing Commissioner; Proposed Collection; Comment Request

SUMMARY: The proposed information collection 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. By separate

notice in today's Federal Register, the Department is also soliciting

comment for a 7-day emergency review period on the same and related

information collection requirements covered by this notice.

DATES: Comments due: October 11, 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, Reports Liaison

Officer, Department of Housing and Urban Development, 451--7th Street,

SW., Room 9116, Washington, DC 20410.

FOR FURTHER INFORMATION CONTACT:

Ivy M. Jackson, Real Estate Settlement Procedures Act (RESPA)

Enforcement Unit, Department of Housing and Urban Development, Room

5341, 451 7th Street, SW., Washington, DC 20410; phone (202) 708-4560

(this is not a toll-free number). For copies of the proposed forms and

other available documents contact Oliver Walker, Chief Directives,

Reports and Forms Branch on 708-1694 extension 2144 (this is not a

toll-free number). For hearing- and speech-impaired persons, these

telephone numbers may be accessed via TTY (text telephone) by calling

the Federal Information Relay Service at 1-800-877-8339.

SUPPLEMENTARY INFORMATION: The Department will submit to OMB for review

the proposed information collection contained in a rule published June

7, 1996 (61 FR 29238) (``June 7 rule''), as required by the Paperwork

Reduction Act of 1995 (44 U.S.C. Chapter 35). By two separate documents

in today's Federal Register, the Department, simultaneously with this

notice: (1) Is soliciting comment for a 7-day emergency review period

on the same and related information collection requirements covered by

this notice; and (2) is publishing a correction for the June 7 rule,

which contained erroneous information about the approval status of

these information collections.

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 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: Controlled Business Arrangement Disclosure (CBA

disclosure) under 24 CFR 3500.15, as amended by a rule published June

7, 1996 (61 FR 29238).

OMB Control Number: Pending.

Description of the need for the information and proposed use: A

settlement service provider or an employee of a settlement service

provider is required to give the borrower a CBA disclosure prior to or

at the time the borrower is referred to an affiliated provider. The CBA

disclosure must be a separate piece of paper and the format must

contain the following information.

1. Specify the nature of the relationship (explaining the ownership

and financial interest) between the person performing the settlement

service and the person making the referral.

2. Describe the estimated charges or range of charges generally

made by the provider of settlement services.

3. State that the borrower is not required to use the referred

provider (except for certain circumstances).

Agency form numbers, if applicable: None.

Members of affected public: Settlement service providers and their

employees.

Estimation of the total numbers of hours needed to prepare the

information collection including number of respondents, frequency of

response, and hours of response: See below.

------------------------------------------------------------------------

Number of Frequency of Hours per

respondents x response x response = Burden hours

------------------------------------------------------------------------

10,000....... 2.4 mill. 0.10 240,000

------------------------------------------------------------------------

Total Estimated Burden Hours: 240,000.

Status of the proposed information collection: Emergency review

request pending for approval of disclosure requirements.

Authority: 44 U.S.C. 3506; 42 U.S.C. 3535(d).

Dated: August 1, 1996.

Nicolas P. Retsinas,

Assistant Secretary for Housing-Federal Housing Commissioner.

[FR Doc. 96-20171 Filed 8-9-96; 8:45 am]

BILLING CODE 4210-27-M