OMB removed the
cost burden because it simply monetized the hour burden.
Inventory as of this Action
Requested
Previously Approved
04/30/2007
6 Months From Approved
2,113,195
0
0
533,744
0
0
0
0
0
Federal law requires lenders to send a
statement or notice to homeowners in default explaining the
mortgage and foreclosure rights of servicemembers and their
dependents under the Servicemembers Civil Relief Act (50 U.S.C.
App. 501 et seq.), including the toll-free military one source
number to call if servicemembers, or their dependents require
further assistance. This notification must be made within 45 days
from the date the missed payment was due unless the homeowner pays
the overdue amount before the expiration of the 45-day period. All
conventional mortgage loans and loans insured by HUD are subject to
the new notification requirement.
The proposed information
collection is intended to provide a statement or notice to
homeowners in default explaining the mortgage and foreclosure
rights of servicemembers and their dependents under the
Servicemembers Civil Relief Act (50 U.S.C. App. §§ 501-596),
including the toll-free military one source number to call if
servicemembers, or their dependents require further assistance.
This notification is required under section 106(c)(5)(A)(ii) of the
Housing and Urban Development Act (12 U.S.C. 1701x(c)(5)(A)(ii)) as
amended by Section 688 of the National Defense Authorization Act
for fiscal year 2006 (public law 109-163, enacted January 06, 2006)
and must be made within 45 days from the date the missed payment
was due unless the homeowner pays the overdue amount before the
expiration of the 45-day period. All mortgage loans, including
conventional mortgages and mortgages insured by HUD are subject to
this notification requirement.
The statutory amemdment
directed HUD to develop the form of the new required creditor
notice of servicemember mortgage and foreclosure reights under the
Servicemembers Civil Relief Act in consultation with the
Departments of Defense and the Treasury. The developed disclosure
form is attached. Mortgagees and their servicers may use this
general form for required notices on all conventional and
government insured home loans.
No
No
Uncollected
Uncollected
Uncollected
Uncollected
Jim Hass 202 708-1672 ext.
2131
No
On behalf of this Federal agency, I certify that
the collection of information encompassed by this request complies
with 5 CFR 1320.9 and the related provisions of 5 CFR
1320.8(b)(3).
The following is a summary of the topics, regarding
the proposed collection of information, that the certification
covers:
(i) Why the information is being collected;
(ii) Use of information;
(iii) Burden estimate;
(iv) Nature of response (voluntary, required for a
benefit, or mandatory);
(v) Nature and extent of confidentiality; and
(vi) Need to display currently valid OMB control
number;
If you are unable to certify compliance with any of
these provisions, identify the item by leaving the box unchecked
and explain the reason in the Supporting Statement.