Notice of Submission of Proposed Information Collection to OMB; Single Family Premium Collection Subsystem-Periodic (SFPCS-P)

Zusammenfassung

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 SFPCS-P is used to collect monthly mortgage insurance premiums (MIP) from mortgagees. The Credit Reform Act of 1990 requires FHA to report case level mortgage insurance payment information for each endorsement. In addition, 24 CFR 203.264 requires mortgagees to pay monthly MIP's and 24 CFR 203.269 requires that the MIP's be remitted electronically.