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Please note that the OMB number and expiration date may not have been determined when this Information Collection Request and associated Information Collection forms were submitted to OMB. The approved OMB number and expiration date may be found by clicking on the Notice of Action link below.
View ICR - OIRA Conclusion
OMB Control No:
2590-0013
ICR Reference No:
201505-2590-001
Status:
Historical Active
Previous ICR Reference No:
201404-2590-001
Agency/Subagency:
FHFA
Agency Tracking No:
Title:
Minimum Requirements for Appraisal Management Companies
Type of Information Collection:
New collection (Request for a new OMB Control Number)
Common Form ICR:
No
Type of Review Request:
Regular
OIRA Conclusion Action:
Approved without change
Conclusion Date:
07/16/2015
Retrieve Notice of Action (NOA)
Date Received in OIRA:
05/28/2015
Terms of Clearance:
Inventory as of this Action
Requested
Previously Approved
Expiration Date
07/31/2018
36 Months From Approved
Responses
9,461
0
0
Time Burden (Hours)
617
0
0
Cost Burden (Dollars)
0
0
0
Abstract:
The Federal Housing Finance Agency (FHFA), along with the Office of the Comptroller of the Currency (OCC), Board of Governors of the Federal Reserve System (Board), Federal Deposit Insurance Corporation (FDIC), National Credit Union Administration (NCUA), Bureau of Consumer Financial Protection (Bureau) (collectively, the Agencies) have jointly issued a final rule to implement newly-adopted statutory requirements to be applied by States in the registration and supervision of appraisal management companies (AMCs). An AMC is an entity that serves as an intermediary for, and provides certain services to, appraisers and lenders. The rule also implements the statutory requirement that States report to the Appraisal Subcommittee (ASC) of the Federal Financial Institutions Examination Council (FFIEC) the information required by the ASC to administer a new national registry of AMCs (AMC National Registry or Registry). This is a new information collection that is being established by the adoption of the final rule. OMB has reviewed the ICR that was associated with the proposed rule that published April 9, 2014, and which also served as the required 60-day Notice. OMB has assigned this information collection OMB Control Number 2590-0013. The OMB Notice of Action is included as a Supplementary Document.
Authorizing Statute(s):
PL:
Pub.L. 111 - 203 1473
Name of Law: Dodd-Frank Act
Citations for New Statutory Requirements:
PL: Pub.L. 111 - 203 1473 Name of Law: Dodd-Frank Act
Associated Rulemaking Information
RIN:
Stage of Rulemaking:
Federal Register Citation:
Date:
2590-AA61
Final or interim final rulemaking
80 FR 32657
06/09/2015
Federal Register Notices & Comments
60-day Notice:
Federal Register Citation:
Citation Date:
79 FR 19521
04/09/2014
Did the Agency receive public comments on this ICR?
No
Number of Information Collection (IC) in this ICR:
4
IC Title
Form No.
Form Name
State Recordkeeping Requirements
State Reporting Requirements
State-Regulated AMC Recordkeeping Requirements
State-Regulated AMC Reporting Requirements
ICR Summary of Burden
Total Approved
Previously Approved
Change Due to New Statute
Change Due to Agency Discretion
Change Due to Adjustment in Estimate
Change Due to Potential Violation of the PRA
Annual Number of Responses
9,461
0
9,461
0
0
0
Annual Time Burden (Hours)
617
0
617
0
0
0
Annual Cost Burden (Dollars)
0
0
0
0
0
0
Burden increases because of Program Change due to Agency Discretion:
No
Burden Increase Due to:
Burden decreases because of Program Change due to Agency Discretion:
No
Burden Reduction Due to:
Short Statement:
Annual Cost to Federal Government:
$0
Does this IC contain surveys, censuses, or employ statistical methods?
No
Is the Supporting Statement intended to be a Privacy Impact Assessment required by the E-Government Act of 2002?
No
Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]?
No
Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]?
Yes
Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)?
No
Is this ICR related to the Pandemic Response?
Uncollected
Agency Contact:
Eric Raudenbush 202 414-6421 eric.raudenbush@fhfa.gov
Common Form ICR:
No
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:
(a) It is necessary for the proper performance of agency functions;
(b) It avoids unnecessary duplication;
(c) It reduces burden on small entities;
(d) It uses plain, coherent, and unambiguous language that is understandable to respondents;
(e) Its implementation will be consistent and compatible with current reporting and recordkeeping practices;
(f) It indicates the retention periods for recordkeeping requirements;
(g) It informs respondents of the information called for under 5 CFR 1320.8 (b)(3) about:
(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;
(h) It was developed by an office that has planned and allocated resources for the efficient and effective management and use of the information to be collected.
(i) It uses effective and efficient statistical survey methodology (if applicable); and
(j) It makes appropriate use of information technology.
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.
Certification Date:
05/28/2015
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