Notice of Submission of Proposed Information Collection to OMB; Request for Approval of Advance of Escrow Funds

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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 information is collected to ensure that escrowed funds are disposed of correctly for completion of offsite facilities, construction changes, construction cost not paid at final endorsement, non-critical repairs and capital needs assessment. The mortgagor uses the data to request withdrawal of escrowed funds for each item through a depository (mortgagee), and the HUD staff must use the information to approve the withdrawal of escrowed funds for each item.