Request for Approval of Advance of Escrow Funds

SUMMARY: The proposed information collection requirement described below has been 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.

The Department requires mortgagors/borrowers and mortgagee/Lenders to execute a Building Loan Agreement setting forth terms and conditions under which progress payments may be advanced during project construction. The Agreement is executed before initial endorsement of mortgage insurance. HUD-92464 is a document used for assurance of completion for escrowed funds.

DATES: Comments Due Date: December 14, 2009.

ADDRESSES: Interested persons are invited to submit comments regarding this proposal. Comments should refer to the proposal by name and/or OMB approval Number (2502-0018) and should be sent to: HUD Desk Officer, Office of Management and Budget, New Executive Office Building, Washington, DC 20503; fax: 202-395-5806.

FOR FURTHER INFORMATION CONTACT: Lillian Deitzer, Reports Management Officer, QDAM, Department of Housing and Urban Development, 451 Seventh Street, SW., Washington, DC 20410; e-mail Lillian Deitzer at Lillian_L._Deitzer@HUD.gov or telephone (202) 402-8048. This is not a toll-free number. Copies of available documents submitted to OMB may be obtained from Ms. Deitzer.

SUPPLEMENTARY INFORMATION: This notice informs the public that the Department of Housing and Urban Development has submitted to OMB a request for approval of the

Information collection described below. This 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: Request for Approval of Advance of Escrow Funds.

OMB Approval Number: 2502-0018.

Form Numbers: HUD-92464.

Description of the Need for the Information and Its Proposed Use: The Department requires mortgagors/borrowers and mortgagee/Lenders to execute a Building Loan Agreement setting forth terms and conditions under which progress payments may be advanced during project construction. The Agreement is executed before initial endorsement of mortgage insurance. HUD-92464 is a document used for assurance of completion for escrowed funds.

Frequency of Submission: On occasion.

..............Number of.... Annual........x.. Hours per.... =.. Burden hours

..............respondents.. responses........ response

Reporting.... 936.......... 2................ 1................ 1,872

Burden

Total Estimated Burden Hours: 1,872.

Status: Extension of a currently approved collection.

Authority: Section 3507 of the Paperwork Reduction Act of 1995, 44 U.S.C. 35, as amended.

Dated: November 5, 2009.

Lillian Deitzer,

Departmental Reports Management Officer, Office of the Chief Information Officer.

Notice.

Citation: "74 FR 58640"

Document Number: "Docket No. FR-5281-N-87"

Federal Register Page Number: "58640"

"Notices"