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

DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT

[Docket No. FR-3917-N-63]

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 collection requirement described

below will be submitted to the Office of Management and Budget (OMB)

for review, as required by the Paperwork

[[Page 16930]]

Reduction Act. The Department is soliciting pubic comments on the

subject proposal.

DATES: Comments due. June 17, 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 & Urban Development, 451--7th Street, SW., Room

9116, Washington, DC 20410.

FOR FURTHER INFORMATION CONTACT:

Betty Belin, Telephone number (202) 708-3652 (this is not a toll-free

number) 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 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: Multifamily Insurance Benefits Claim Package.

OMB Control Number: 2502-0415.

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

When terms of a Multifamily contract are breached or when mortgage

meets conditions stated within the Multifamily contract for an

automated assignment, the holder of the mortgage may file for insurance

benefits. The law which supports this action is Statute 12 USC 1713(g)

and Title II, Section 207(g) of the National Housing Act. This act

provides in part `` * * * the mortgagee shall be entitled to receive

the benefits of the insurance as hereinafter provided, upon assignment,

transfer, and delivery to the Secretary, within a period and in

accordance with rules and regulations to be prescribed by the Secretary

of (1) all rights and interest arising under the mortgage so in

default: (2) all claims of the mortgagee against the mortgagor or

others, arising out of the mortgage transaction: (3) all policies of

title or other insurance of surety bonds or guaranties and any all

claims thereunder: (4) any balance of the mortgage loan not advance to

the mortgagor: (5) any cash or property held by the mortgagee, or to

which it is entitled, as deposits made for account of the mortgagor and

which have been applied in reduction of the principal of the mortgage

indebtedness: and (6) all records, documents, books, papers, and counts

relating to the mortgage transaction.''

Agency form numbers; HUD-2742, 2744A, 2744B, 2744C, 2744D, 2744E.

Members of affected public: Business or other for profit.

An estimation of the total numbers of hours needed to prepare the

information collection is 1,050 number of respondents is 300 frequency

response is on occasion and the hour of response is 3.50 of an hour.

Status of the proposed information collection: Extension of a

currently approved collection.

Authority: Section 3506 of the Paperwork Reduction Act of 1995,

44 U.S.C. Chapter 35, as amended.

Dated: April 4, 1996.

Nicolas P. Retsinas,

A/S Secretary for Housing--Federal Housing Commissioner.

[FR Doc. 96-9549 Filed 4-17-96; 8:45 am]

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