The Department of Housing and Urban Development (HUD) has sent a proposed information collection requirement to the Office of Management and Budget (OMB) for approval, as outlined under the Paperwork Reduction Act. This involves the HUD Loan Sale Bidder Qualification Statement, which gathers essential information from potential bidders on HUD Loan Sales. HUD is seeking public feedback on whether this information collection is necessary, its impact on respondents, and any suggestions for improvement. Comments are invited until February 16, 2021, and details on how to submit these are available for interested parties.
Simple Explanation
HUD wants to gather information about people who want to buy their loans and is checking with a group to ensure they're doing it right. They're asking people to share their thoughts about whether this is needed and if it's fair.