Form of Detached Assignment for U.S. Small Business Administration Loan Pool or Guaranteed Interest Certificate

Forms and Documents

Document Name	Status
Form SBA FORM 1088 Form of Detached Assignment for U.S. Small Business Administration Loan Pool or Guaranteed Interest Certificate Form and Instruction	Modified
1088 Supporting Statement.docx Supporting Statement A	2011-03-03

IC Document Collections

IC ID	Document Title	Status
35733	Form of Detached Assignment for U.S. Small Business Administration Loan Pool or Guaranteed Interest Certificate Form and Instruction	Modified

ICR Details

OMB Control No: 3245-0212	ICR Reference No: 201103-3245-001
Status: Historical Active	Previous ICR Reference No: 200703-3245-002
Agency/Subagency: SBA	Agency Tracking No:
Title: Form of Detached Assignment for U.S. Small Business Administration Loan Pool or Guaranteed Interest Certificate
Type of Information Collection: Reinstatement without change of a previously approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved without change	Conclusion Date: 05/10/2011
	Date Received in OIRA: 03/03/2011
Terms of Clearance: The Small Business Administration should improve their monitoring of expiring information collections to avoid unnecessary reinstatement request and violation of the PRA. This collection should be reported as a violation in OMB's annual Information Collection Budget (ICB). Prior to re-submitting these collection instruments for renewal in three-years, the Small Business Administration should review the collections and consider possible ways to reduce burdens. SBA could consider such things as making all forms available as “fillable/fileable” (online submissions) and simplification. SBA should review all information collections to be consistent with the "plain writing" requirements outlined in OMB M-11-15, “Final Guidance on Implementing the Plain Writing Act of 2010”. This review should include making all "Send To" information clear and easy to understand.

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	05/31/2014	36 Months From Approved
Responses	856	0	0
Time Burden (Hours)	733	0	0
Cost Burden (Dollars)	0	0	0

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Abstract: Pursuant 5(h)(i)(c)to The Small Business Market Improvement Act the seller of a loan or pool certificate must disclose the information on this form to the purchaser, constant annual prepayment rate based upon the seller's analysis of the prepayment histories of SBA guaranteed loans with similar maturities and additional disclosure information on the terms, conditions and yield of the securities.

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Authorizing Statute(s): US Code: 15 USC 634(h)(1)(c) Name of Law: null
  

Citations for New Statutory Requirements: None

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
	Not associated with rulemaking

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Federal Register Notices & Comments
60-day Notice:	Federal Register Citation:	Citation Date:
	74 FR 62359	11/17/2010
30-day Notice:	Federal Register Citation:	Citation Date:
	76 FR 8393	02/14/2011
Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 1

IC Title	Form No.	Form Name
Form of Detached Assignment for U.S. Small Business Administration Loan Pool or Guaranteed Interest Certificate	SBA FORM 1088	Form of Detached Assignment for U.S. Small Business Adminsitration Loan Pool or Guaranteed interest Certificate

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ICR Summary of Burden

	Total Approved	Previously Approved	Change Due to New Statute	Change Due to Agency Discretion	Change Due to Adjustment in Estimate	Change Due to Potential Violation of the PRA
Annual Number of Responses	856	0	0	-5,644	0	6,500
Annual Time Burden (Hours)	733	0	0	-9,017	0	9,750
Annual Cost Burden (Dollars)	0	0	0	0	0	0

Burden increases because of Program Change due to Agency Discretion: No

Burden Increase Due to:

Burden decreases because of Program Change due to Agency Discretion: Yes

Burden Reduction Due to: Miscellaneous Actions

Short Statement: The estimated number of responses has decreased from 9,750 to 1,284 based on data collected in the past three years. There was a total of 30,807 transferred processed from January 2008 through December 2010 averaging 856 transferred processes per months.

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Annual Cost to Federal Government: $0

Does this IC contain surveys, censuses, or employ statistical methods? No

Is the Supporting Statement intended to be a Privacy Impact Assessment required by the E-Government Act of 2002? No

Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]? No

Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]? No

Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)? No

Is this ICR related to the Pandemic Response? Uncollected

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Common Form ICR:  No

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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:

(a) It is necessary for the proper performance of agency functions;

(b) It avoids unnecessary duplication;

(c) It reduces burden on small entities;

(d) It uses plain, coherent, and unambiguous language that is understandable to respondents;

(e) Its implementation will be consistent and compatible with current reporting and recordkeeping practices;

(f) It indicates the retention periods for recordkeeping requirements;

(g) It informs respondents of the information called for under 5 CFR 1320.8 (b)(3) about:

(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;

(h) It was developed by an office that has planned and allocated resources for the efficient and effective management and use of the information to be collected.

(i) It uses effective and efficient statistical survey methodology (if applicable); and

(j) It makes appropriate use of information technology.

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.

Certification Date: 03/03/2011

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