Agency Information Collection Activities: Information Collection Renewal; Submission for OMB Review; Loans in Areas Having Special Flood Hazards
Notice and request for comment.
Citation: "83 FR 30220"
Page Number: "30220"
"Notices"
SUMMARY: The OCC, as part of its continuing effort to reduce paperwork and respondent burden, invites the general public and other federal agencies to take this opportunity to comment on a continuing information collection as required by the Paperwork Reduction Act of 1995 (PRA).
In accordance with the requirements of the PRA, the OCC may not conduct or sponsor, and the respondent is not required to respond to, an information collection unless it displays a currently valid
The OCC is soliciting comment concerning the renewal of its information collection titled "Loans in Areas Having Special Flood Hazards." The OCC also is giving notice that the information collection has been submitted to OMB for review.
DATES: Comments must be received by
ADDRESSES: Commenters are encouraged to submit comments by email, if possible. You may submit comments by any of the following methods:
* Email: [email protected].
* Mail: Legislative and Regulatory Activities Division,
* Hand Delivery/Courier:
* Fax: (571) 465-4326.
Instructions: You must include "OCC" as the agency name and "1557-0326" in your comment. In general, the OCC will publish your comment on www.reginfo.gov without change, including any business or personal information that you provide, such as name and address information, email addresses, or phone numbers. Comments received, including attachments and other supporting materials, are part of the public record and subject to public disclosure. Do not include any information in your comment or supporting materials that you consider confidential or inappropriate for public disclosure.
Additionally, please send a copy of your comments by mail to: OCC Desk Officer, 1557-0326,
You may review comments and other related materials that pertain to this information collection /1/ following the close of the 30-Day comment period for this notice by any of the following methods:
FOOTNOTE 1 On
* Viewing Comments Electronically: Go to www.reginfo.gov. Click on the "Information Collection Review" tab. Underneath the "Currently under Review" section heading, from the drop-down menu, select "
* For assistance in navigating www.reginfo.gov, please contact the
* Viewing Comments Personally: You may personally inspect comments at the OCC,
FOR FURTHER INFORMATION CONTACT:
SUPPLEMENTARY INFORMATION: Under the PRA (44 U.S.C. 3501-3520), federal agencies must obtain approval from the OMB for each collection of information that they conduct or sponsor. "Collection of information" is defined in 44 U.S.C. 3502(3) and 5 CFR 1320.3(c) to include agency requests or requirements that members of the public submit reports, keep records, or provide information to a third party. The OCC asks OMB to extend its approval of the following information collection.
Title: Loans in Areas Having Special Flood Hazards.
OMB Control No.: 1557-0326.
Type of Review: Regular.
Description: This information collection is required to evidence compliance with the requirements of the federal flood insurance statutes with respect to lenders and servicers and set forth in OCC regulations at 12 CFR part 22. These provisions are required by the National Flood Insurance Act of 1968 and the Flood Disaster Protection Act of 1973, as amended. /2/ The information collection requirements in part 22 are as follows:
FOOTNOTE 2 42 U.S.C. 4001-4129. END FOOTNOTE
* 12 CFR 22.5--Escrow Requirements --With certain exceptions with respect to types of loans and size of institution, national banks and federal savings associations, and their servicers, must escrow flood insurance premiums and fees for all loans secured by properties located in a Special
* 12 CFR 22.6--Required Use of Standard Flood Hazard Determination Form --A national bank or federal savings association must use the Standard Flood Hazard Determination Form developed by
* 12 CFR 22.6(b)--Retention of Standard Flood Hazard Determination Form --A national bank or federal savings association must retain a copy of the completed Standard Flood Hazard Determination Form for the period of time the bank or savings association owns the loan.
* 12 CFR 22.7--Notice of Forced Placement of
* 12 CFR 22.9--Notice to Borrower and Servicer --A national bank or federal savings association making, extending, increasing, or renewing a loan secured by property located in a special flood hazard area must provide a notice to the borrower and loan servicer (borrower notice). The borrower notice advises the borrower that the property securing the loan is located in a special flood hazard area and that flood insurance on the property securing the loan is required. Among other things, the borrower notice includes a description of the flood insurance purchase requirements and states that flood insurance is available under the National Flood Insurance Program, where applicable, that flood insurance may be available from private insurance companies, and that federal disaster relief assistance may be available in the event of a declared federal flood disaster.
* 12 CFR 22.9(d) and (e)--Record of Borrower and Servicer Receipt of Notice and Alternate Method of Notice --A national bank or federal savings association must retain a record of the receipt of the borrower notice by the borrower and the loan servicer for the period of time the bank or savings association owns the loan. In lieu of providing the borrower notice, a national bank or federal savings association may obtain a satisfactory written assurance from a seller or lessor that, within a reasonable time before completion of the sale or lease transaction, the seller or lessor has provided such notice to the purchaser or lessee. The bank or savings association must retain a record of the written assurance from the seller or lessor for the period of time the bank or savings association owns the loan.
* 12 CFR 22.10--Notices to
Affected Public: Businesses or other for-profit.
Estimated Number of Respondents: 1,550.
Estimated Total Annual Burden: 106,951.
Frequency of Response: On occasion.
The OCC issued a notice for 60 days of comment regarding this collection on
(a) Whether the collection of information is necessary for the proper performance of the functions of the OCC, including whether the information has practical utility;
(b) The accuracy of the OCC's estimate of the burden of the collection of information;
(c) Ways to enhance the quality, utility, and clarity of the information to be collected;
(d) Ways to minimize the burden of the collection on respondents, including through the use of automated collection techniques or other forms of information technology; and
(e) Estimates of capital or start-up costs and costs of operation, maintenance, and purchase of services to provide information.
Dated:
Acting Senior Deputy Comptroller and Chief Counsel.
[FR Doc. 2018-13745 Filed 6-26-18;
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