The request is
approved with the understanding that there is no change in policy
with regards to the collection of new construction sales data. New
construction data is already included in the median sales price
data provided to HUD when a request for an increase in mortgage
limits is made. When an interested party submits median sales price
data to the HOC to request mortgage limits be increased in a
particular county, an analyst in the HOC looks at the data and
separates out the new construction data and determines the median
sales price. Secondly, the analyst determines the median sales
price for everything else and comes up with an average of the two
medians that will be the base for our calculations FHA Mortgage
Limits. There is no impact on petitioning parties because the new
construction data is already part of the closed sales data that we
would normally get.
Inventory as of this Action
Requested
Previously Approved
12/31/2008
12/31/2008
12/31/2008
140
0
140
5,600
0
5,600
0
0
0
Housing industry groups may appeal for
increases in FHA's maximum mortgage limits for specific counties or
metropolitan statistical areas (MSA's).
US Code:
12
USC 1709 Name of Law: National Housing
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.