The Department of Housing and Urban Development (HUD) issued a notice seeking public comments on a proposed information collection related to the Home Equity Conversion Mortgage (HECM) program. This proposal requests approval from the Office of Management and Budget (OMB) and aims to gather information from individuals or organizations involved in servicing HECM mortgages. The notice outlines key details such as the number of respondents and the estimated response burden, and invites public input on the necessity and effectiveness of the proposed information collection. The comment period is open for 60 days until April 13, 2021.
Simple Explanation
The government is asking people to tell them if they agree or disagree with the way they want to gather information about a special type of home loan for older people. They're checking if they're asking too much or too little and if everyone's privacy is safe.