Submission of Information Collection to OMB (Under Paperwork Reduction Act and 5 CFR Part 1320)

Resumo

The information collection requirements described below have been submitted to Office of Management and Budget (OMB) for expedited clearance under 5 CFR 1320.18. The RHCDS solicits comments on the subject submission. This action is necessary in order for RHCDS to inform Multiple Family Housing program borrowers with Section 8 project-based housing subsidy who signed RHCDS interest credit agreements prior to October 27, 1980, that RHCDS may have improperly reduced benefits under the interest credit agreement. Each affected borrower will be advised of available options, ranging from reversal of certain previous RHCDS actions and retroactive application of certain collections to the borrower's loan account. Each affected borrower will be given the opportunity to request correction of the application of interest credit subsidy to their loan account. The intended effect is to restore the affected borrower accounts to their correct accounting status.