View Information Collection Request (ICR) Package
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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:
1557-0326
ICR Reference No:
201608-1557-012
Status:
Historical Inactive
Previous ICR Reference No:
201504-1557-002
Agency/Subagency:
TREAS/OCC
Agency Tracking No:
Title:
Loans in Areas Having Special Flood Hazards
Type of Information Collection:
Revision of a currently approved collection
Common Form ICR:
No
Type of Review Request:
Regular
OIRA Conclusion Action:
Comment filed on proposed rule and continue
Conclusion Date:
12/22/2016
Retrieve Notice of Action (NOA)
Date Received in OIRA:
11/07/2016
Terms of Clearance:
Pursuant to 5 CFR 1320.11(c), OMB files this comment on this information collection request (ICR). In accordance with 5 CFR 1320, OMB is withholding approval at this time. The agency shall examine public comment in response to the NPRM and will include in the supporting statement of the next ICR--to be submitted to OMB at the final rule stage--a description of how the agency has responded to any public comments on the ICR, including comments on maximizing the practical utility of the collection and minimizing the burden.
Inventory as of this Action
Requested
Previously Approved
Expiration Date
11/30/2018
11/30/2018
11/30/2018
Responses
4,650
0
4,650
Time Burden (Hours)
106,950
0
106,950
Cost Burden (Dollars)
0
0
0
Abstract:
The National Flood Insurance Act of 1968 (1968 Act) and the Flood Disaster Protection Act of 1973 (FDPA), as amended, (the Federal flood insurance statutes) govern the National Flood Insurance Program (NFIP). These laws make Federally subsidized flood insurance available to owners of improved real estate or mobile homes located in participating communities and require the purchase of flood insurance in connection with a loan made by a regulated lending institution when the loan is secured by improved real estate or a mobile home located in special flood hazard areas (SFHA) in which flood insurance is available under the NFIP. The OCC, Board, FDIC, FCA, and NCUA (the Agencies) each have issued regulations implementing these statutory requirements for the lending institutions they supervise. This information collection request (ICR) is being submitted in connection with a proposal by the Agencies to amend their regulations regarding loans in areas having special flood hazards to implement the private flood insurance provisions of the Biggert-Waters Flood Insurance Reform Act of 2012 (Biggert-Waters Act). The proposed rule would require regulated lending institutions to accept policies that meet the statutory definition of private flood insurance in the Biggert-Waters Act and permit regulated lending institutions to accept flood insurance provided by private insurers that does not meet the statutory definition of “private flood insurance” on a discretionary basis, subject to certain restrictions.
Authorizing Statute(s):
PL:
Pub.L. 93 - 234 102(d)
Name of Law: Flood Disaster Protection Act of 1973
US Code:
12 USC 4102a, 4106(b)
Name of Law: National Flood Insurance Act of 1968
PL:
Pub.L. 112 - 141 100239
Name of Law: Biggerts-Waters Flood Insurance Reform Act of 2012
Citations for New Statutory Requirements:
PL: Pub.L. 112 - 141 100208, 100209, 100239 Name of Law: Biggert-Waters Flood Insurance Reform Act of 2012
Associated Rulemaking Information
RIN:
Stage of Rulemaking:
Federal Register Citation:
Date:
1557-AD67
Proposed rulemaking
81 FR 78063
11/07/2016
Federal Register Notices & Comments
Did the Agency receive public comments on this ICR?
No
Number of Information Collection (IC) in this ICR:
8
IC Title
Form No.
Form Name
Escrow Notice - 22.5
FEMA, Borrower, Servicer Disclosures - 22.7, 22.9, 22.10
Private Flood Insurance - documentation regarding mutual aid societies - 22.3(c)(4)(iv)(C)
Private Flood Insurance - documenting discretionary acceptance criteria - 22.3(c)(3)(iv)(B)(3)
Private Flood Insurance - implementation of policies and procedures - 22.3
Private Flood Insurance - verification of policy - 22.3(c)(2)(ii)
Private Flood Insurance - written summary regarding meeting definition - 22.22.3(c)(2)(i)
Retention of FEMA Form - 22.6
Burden increases because of Program Change due to Agency Discretion:
Yes
Burden Increase Due to:
Changing Regulations
Burden decreases because of Program Change due to Agency Discretion:
No
Burden Reduction Due to:
Short Statement:
The increase in burden is due to the issuance of proposed regulations regarding private flood insurance.
Annual Cost to Federal Government:
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]?
No
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:
Heidi Thomas 202 874-5090 heidi.thomas@occ.treas.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:
11/07/2016
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