Agency Information Collection Activities: Submission for OMB Review; Comment Request; National Flood Insurance Program–Mortgage Portfolio Protection Program (MPPP)
SUMMARY: The
DATES: Comments must be submitted on or before
ADDRESSES: Submit written comments on the proposed information collection to the
FOR FURTHER INFORMATION CONTACT: Requests for additional information or copies of the information collection should be made to Director,
SUPPLEMENTARY INFORMATION: Federal lenders and federally regulated or sponsored lending institutions may not make, increase, extend, or renew any loan secured by improved real property located in a special flood hazard area (SFHA) unless the building and any personal property securing the loan is covered by flood insurance for the life of the loan. See Flood Disaster Protection Act of 1973 (FDPA)
In general, individual mortgagees subject to the requirements of the FDPA obtain and maintain flood insurance for their individual properties. When individual mortgagees to not obtain required flood insurance, the NFIP's Mortgage Portfolio Protection program (MPPP) allows covered lenders to ensure compliance with the requirements of FDPA by selling making available special coverage for the lender's entire mortgage portfolio. See 44 CFR 62.23(l). In order sell MPPP policies, private insurance companies participating in the NFIP's Write Your Own (WYO) Program must apply for and annually renew their election to voluntarily participate in the MPPP.
This proposed information collection previously published in the
Collection of Information
Title: National Flood Insurance Program--Mortgage Portfolio Protection Program (MPPP).
Type of information collection: Reinstatement, without change, of a previously approved information collection for which approval has expired.
OMB Number: 1660-0086.
Form Titles and Numbers: None.
Abstract:
Affected Public: Business or other non-profits.
Estimated Number of Respondents: 341.
Estimated Number of Responses: 341.
Estimated Total Annual
Estimated Total Annual Respondent Cost:
Estimated Respondents' Operation and Maintenance Costs:
Estimated Total Annual Cost to the Federal Government:
Comments
Comments may be submitted as indicated in the ADDRESSES caption above. Comments are solicited to (a) evaluate whether the proposed data collection is necessary for the proper performance of the agency, including whether the information shall have practical utility; (b) evaluate the accuracy of the agency's estimate of the burden of the proposed collection of information, including the validity of the methodology and assumptions used; (c) enhance the quality, utility, and clarity of the information to be collected; and (d) minimize the burden of the collection of information on those who are to respond, including through the use of appropriate automated, electronic, mechanical, or other technological collection techniques or other forms of information technology, e.g., permitting electronic submission of responses.
Dated:
Senior Director for Information Management,
Notice and request for comments.
Citation: "83 FR 5447"
Document Number: "Docket ID FEMA-2017-0033; OMB No. 1660-0086"
Federal Register Page Number: "5447"
"Notices"
Vermont man insists he didn’t kill mother, grandfather
UPDATE: H.R.2372 – VETERAN Act
Advisor News
Annuity News
Health/Employee Benefits News
Life Insurance News