The Department of the Treasury
(Treasury) established the Housing Finance Agency Innovation Fund
for Hardest Hit Housing Markets (Hardest Hit Fund or HHF) in 2010,
pursuant to the Emergency Economic Stabilization At of 2008 (12
U.S.C. 5201, et seq.). The objective of HHF is to provide funding
to the states that were most severely impacted by the foreclosure
crisis. Funds are provided through Treasury’s Troubled Asset Relief
Program (TARP), and are used by state housing finance agencies and
their designated partners (collectively, HFAs) to help prevent
foreclosure and stabilize state housing markets through programs
tailored to local conditions. Recognizing the current and
persistent need among states participating in HHF, Congress enacted
legislation in December 2015, authorizing Treasury to commit up to
$2 billion in additional TARP funds to that program. Treasury plans
to allocate these funds among participating HHF states based on
each area’s current needs and ability to effectively utilize the
additional funds. This information collection provides instructions
for HFAs to apply for the funds.
In order to ensure
uninterrupted assistance to homeowners and neighborhoods in Hardest
Hit Fund states, and promptly restore assistance for homeowners
where HFAs have closed programs, and to enable the HFAs to deploy
the additional funds as expeditiously as possible, it is critical
that Treasury collect all information necessary to complete the
allocation process as soon as possible.
US Code:
12
USC 5201 Name of Law: Emergency Economic Stabilization Act
PL: Pub.L. 114 - 113 709 Name of Law:
Consolidated Appropriations Act, 2016
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.