Agency Information Collection Activities: Information Collection Renewal; Submission for OMB Review; Real Estate Lending and Appraisals, 50492-50493 [2013-19878]
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50492
Federal Register / Vol. 78, No. 160 / Monday, August 19, 2013 / Notices
Dated: August 13, 2013.
Michele Meyer,
Assistant Director, Legislative and Regulatory
Activities Division.
[FR Doc. 2013–20139 Filed 8–16–13; 8:45 am]
BILLING CODE 4810–33–P
DEPARTMENT OF THE TREASURY
Office of the Comptroller of the
Currency
Agency Information Collection
Activities; Information Collection
Renewal; Submission for OMB Review:
Interagency Statement on Complex
Structured Finance Transactions
Office of the Comptroller of the
Currency (OCC), Treasury.
ACTION: Notice and request for comment.
AGENCY:
The OCC, as part of its
continuing effort to reduce paperwork
and respondent burden, invites the
general public and other Federal
agencies to comment on the renewal of
a information collection, as required by
the Paperwork Reduction Act of 1995
(PRA). An agency may not conduct or
sponsor, and a respondent is not
required to respond to, an information
collection unless it displays a currently
valid Office of Management and Budget
(OMB) control number. The OCC is
soliciting comment concerning the
renewal of an information collection
titled, ‘‘Interagency Statement on
Complex Structured Finance
Transactions.’’ The OCC is also giving
notice that it has sent the collection to
OMB for review.
DATES: Comments must be submitted on
or before September 18, 2013.
ADDRESSES: Because paper mail in the
Washington, DC area and at the OCC is
subject to delay, commenters are
encouraged to submit comments by
email if possible. Comments may be
sent to: Legislative and Regulatory
Activities Division, Office of the
Comptroller of the Currency, Attention:
1557–0229, 400 7th Street SW., Suite
3E–218, Mail Stop 9W–11, Washington,
DC 20219. In addition, comments may
be sent by fax to (571) 465–4326 or by
electronic mail to regs.comments@
occ.treas.gov. You may personally
inspect and photocopy comments at the
OCC, 400 7th Street, SW., Washington,
DC 20219. For security reasons, the OCC
requires that visitors make an
appointment to inspect comments. You
may do so by calling (202) 649–6700.
Upon arrival, visitors will be required to
present valid government-issued photo
identification and to submit to security
TKELLEY on DSK3SPTVN1PROD with NOTICES
SUMMARY:
VerDate Mar<15>2010
17:51 Aug 16, 2013
Jkt 229001
screening in order to inspect and
photocopy comments.
All comments received, including
attachments and other supporting
materials, are part of the public record
and subject to public disclosure. Do not
enclose 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, 1557–0229, U.S. Office of
Management and Budget, 725 17th
Street NW., #10235, Washington, DC
20503, or by email to: oira submission@
omb.eop.gov.
FOR FURTHER INFORMATION CONTACT: You
may request additional information or a
copy of the collection from Johnny
Vilela or Mary H. Gottlieb, OCC
Clearance Officers, (202) 649–5490,
Legislative and Regulatory Activities
Division, Office of the Comptroller of
the Currency, 400 7th Street SW., Suite
3E–218, Mail Stop 9W–11, Washington,
DC 20219.
SUPPLEMENTARY INFORMATION: The OCC
is proposing to extend the following
information collection:
Title: Interagency Statement on
Complex Structured Finance
Transactions.
OMB Control No.: 1557–0229.
Description: The interagency
statement describes the types of internal
controls and risk management
procedures that the agencies (OCC,
Board of Governors of the Federal
Reserve System, Federal Deposit
Insurance Corporation, and the
Securities and Exchange Commission)
consider particularly effective in
helping financial institutions identify
and address the reputational, legal, and
other risks associated with complex
structured finance transactions.
Affected Public: Businesses or other
for-profit.
Burden Estimates:
Estimated Number of Respondents: 9.
Estimated Number of Responses: 9.
Estimated Annual Burden: 225 hours.
Frequency of Response: On occasion.
Comments: Comments submitted in
response to this notice will be
summarized and included in the request
for OMB approval. All comments will
become a matter of public record.
Comments are invited 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 information collection
burden;
PO 00000
Frm 00120
Fmt 4703
Sfmt 4703
(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: August 12, 2013.
Michele Meyer,
Assistant Director, Legislative and Regulatory
Activities Division.
[FR Doc. 2013–19881 Filed 8–16–13; 8:45 am]
BILLING CODE 4810–33–P
DEPARTMENT OF THE TREASURY
Office of the Comptroller of the
Currency
Agency Information Collection
Activities: Information Collection
Renewal; Submission for OMB Review;
Real Estate Lending and Appraisals
Office of the Comptroller of the
Currency (OCC), Treasury.
ACTION: Notice and request for comment.
AGENCY:
In accordance with the
requirements of the Paperwork
Reduction Act of 1995 (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 Office of
Management and Budget (OMB) control
number.
The OCC is seeking renewal of the
control number for its information
collection titled, ‘‘Real Estate Lending
and Appraisals.’’ The OCC also is giving
notice that it has sent the collection to
OMB for review.
DATES: Comments must be received by
September 18, 2013.
ADDRESSES: Because paper mail in the
Washington, DC area and at the OCC is
subject to delay, commenters are
encouraged to submit comments by
email if possible. Comments may be
sent to: Legislative and Regulatory
Activities Division, Office of the
Comptroller of the Currency, Attention:
1557–0190, 400 7th Street SW., Suite
3E–218, Mail Stop 9W–11, Washington,
DC 20219. In addition, comments may
be sent by fax to (571) 465–4326 or by
electronic mail to regs.comments@
occ.treas.gov. You may personally
inspect and photocopy comments at the
OCC, 400 7th Street, SW., Washington,
DC 20219. For security reasons, the OCC
requires that visitors make an
SUMMARY:
E:\FR\FM\19AUN1.SGM
19AUN1
Federal Register / Vol. 78, No. 160 / Monday, August 19, 2013 / Notices
TKELLEY on DSK3SPTVN1PROD with NOTICES
appointment to inspect comments. You
may do so by calling (202) 649–6700.
Upon arrival, visitors will be required to
present valid government-issued photo
identification and to submit to security
screening in order to inspect and
photocopy comments.
All comments received, including
attachments and other supporting
materials, are part of the public record
and subject to public disclosure. Do not
enclose 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, 1557–0190, U.S. Office of
Management and Budget, 725 17th
Street NW., #10235, Washington, DC
20503, or by email to: oira submission@
omb.eop.gov.
FOR FURTHER INFORMATION CONTACT: You
may request additional information of
the collection from Johnny Vilela or
Mary H. Gottlieb, OCC Clearance
Officers, (202) 649–5490, Legislative
and Regulatory Activities Division,
Office of the Comptroller of the
Currency, 400 7th Street SW., Suite 3E–
218, Mail Stop 9W–11, Washington, DC
20219.
SUPPLEMENTARY INFORMATION: In
compliance with 44 U.S.C. 3507, the
OCC has submitted the following
request for renewal of a collection of
information to OMB for review and
clearance:
Title: Real Estate Lending and
Appraisals (12 CFR 34, 160, 164, 190).
OMB Control No.: 1557–0190.
Type of Review: Extension, without
revision, of a currently approved
collection.
Description: Twelve CFR parts 34 and
160 contain a number of reporting and
recordkeeping requirements. Twelve
CFR part 34, subpart B (Adjustable-Rate
Mortgages (ARM)), subpart E (Other
Real Estate Owned (OREO)), and part
160 (Lending and Investment) contain
reporting requirements. Twelve CFR
part 34, subpart C (Appraisal
VerDate Mar<15>2010
17:51 Aug 16, 2013
Jkt 229001
Requirements), subpart D (Real Estate
Lending Standards), and parts 160 and
164 (Appraisals) contain recordkeeping
requirements. Twelve CFR 190.4(h)
contains a disclosure requirement
concerning Federally-related residential
manufactured housing loans.
Twelve CFR part 34, subpart B,
§ 34.22(a) requires that for ARM loans,
the loan documentation must specify
the index or combination of indices to
which changes in the interest rate will
be linked. Sections 34.22(b) and
160.35(d)(3) provide the notice
procedures to be used when seeking to
use an alternative index.
Twelve CFR 34.44 and 164.4 set forth
the minimum standards for the
performance of real estate appraisals,
including the requirement that
appraisals be in writing and contain
sufficient information and analysis to
support the institution’s decision to
engage in the transaction.
Twelve CFR 34.62, 160.101 and the
related appendices require each
institution to adopt and maintain
written policies that establish
appropriate limits and standards for
extensions of credit that are secured by
liens on or interests in real estate, or
that are made for the purpose of
financing permanent improvements to
real estate. The institution’s board of
directors must review and approve the
institution’s real estate lending policies
at least annually.
Twelve CFR 34.84 requires that, after
holding any real estate acquired for
future bank expansion for one year, a
national bank must state, by resolution
or other official action, its plans for the
use of the property and make the
resolution or other action available for
inspection by examiners. Sections 34.85
and 160.172 require national banks and
Federal savings associations to develop
prudent real estate collateral evaluation
policies to monitor the value of each
parcel of OREO in a manner consistent
with prudent banking practice. Section
34.86 requires national banks to notify
the appropriate supervisory office at
PO 00000
Frm 00121
Fmt 4703
Sfmt 9990
50493
least 30 days before making advances
under a development or improvement
plan for OREO if the total investment in
the property will exceed 10 percent of
the bank’s capital and surplus.
Twelve CFR 190.4(h) requires that for
Federally-related residential
manufactured housing loans, a creditor
must send the debtor a notice of default
at least 30 days prior to any
repossession, foreclosure, or
acceleration of payments.
Affected Public: Businesses or other
for-profit.
Frequency of Response: On occasion.
Burden Estimates:
Estimated Number of Respondents:
1,276 national banks and 532 Federal
savings associations.
Estimated Annual Burden: 120,428
burden hours.
Comments: The OCC published a 60day Federal Register Notice on June 10,
2013 (78 FR 34707). No comments were
received. Comments continue to be
invited 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 information collection
burden;
(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: August 12, 2013.
Michele Meyer,
Assistant Director, Legislative and Regulatory
Activities Division.
[FR Doc. 2013–19878 Filed 8–16–13; 8:45 am]
BILLING CODE 4810–33–P
E:\FR\FM\19AUN1.SGM
19AUN1
]]>Agencies
[Federal Register Volume 78, Number 160 (Monday, August 19, 2013)]
[Notices]
[Pages 50492-50493]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2013-19878]
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DEPARTMENT OF THE TREASURY
Office of the Comptroller of the Currency
Agency Information Collection Activities: Information Collection
Renewal; Submission for OMB Review; Real Estate Lending and Appraisals
AGENCY: Office of the Comptroller of the Currency (OCC), Treasury.
ACTION: Notice and request for comment.
-----------------------------------------------------------------------
SUMMARY: In accordance with the requirements of the Paperwork Reduction
Act of 1995 (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 Office of Management and Budget
(OMB) control number.
The OCC is seeking renewal of the control number for its
information collection titled, ``Real Estate Lending and Appraisals.''
The OCC also is giving notice that it has sent the collection to OMB
for review.
DATES: Comments must be received by September 18, 2013.
ADDRESSES: Because paper mail in the Washington, DC area and at the OCC
is subject to delay, commenters are encouraged to submit comments by
email if possible. Comments may be sent to: Legislative and Regulatory
Activities Division, Office of the Comptroller of the Currency,
Attention: 1557-0190, 400 7th Street SW., Suite 3E-218, Mail Stop 9W-
11, Washington, DC 20219. In addition, comments may be sent by fax to
(571) 465-4326 or by electronic mail to regs.comments@occ.treas.gov.
You may personally inspect and photocopy comments at the OCC, 400 7th
Street, SW., Washington, DC 20219. For security reasons, the OCC
requires that visitors make an
[[Page 50493]]
appointment to inspect comments. You may do so by calling (202) 649-
6700. Upon arrival, visitors will be required to present valid
government-issued photo identification and to submit to security
screening in order to inspect and photocopy comments.
All comments received, including attachments and other supporting
materials, are part of the public record and subject to public
disclosure. Do not enclose 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, 1557-0190, U.S. Office of Management and Budget, 725 17th
Street NW., 10235, Washington, DC 20503, or by email to: oira
submission@omb.eop.gov.
FOR FURTHER INFORMATION CONTACT: You may request additional information
of the collection from Johnny Vilela or Mary H. Gottlieb, OCC Clearance
Officers, (202) 649-5490, Legislative and Regulatory Activities
Division, Office of the Comptroller of the Currency, 400 7th Street
SW., Suite 3E-218, Mail Stop 9W-11, Washington, DC 20219.
SUPPLEMENTARY INFORMATION: In compliance with 44 U.S.C. 3507, the OCC
has submitted the following request for renewal of a collection of
information to OMB for review and clearance:
Title: Real Estate Lending and Appraisals (12 CFR 34, 160, 164,
190). OMB Control No.: 1557-0190.
Type of Review: Extension, without revision, of a currently
approved collection.
Description: Twelve CFR parts 34 and 160 contain a number of
reporting and recordkeeping requirements. Twelve CFR part 34, subpart B
(Adjustable-Rate Mortgages (ARM)), subpart E (Other Real Estate Owned
(OREO)), and part 160 (Lending and Investment) contain reporting
requirements. Twelve CFR part 34, subpart C (Appraisal Requirements),
subpart D (Real Estate Lending Standards), and parts 160 and 164
(Appraisals) contain recordkeeping requirements. Twelve CFR 190.4(h)
contains a disclosure requirement concerning Federally-related
residential manufactured housing loans.
Twelve CFR part 34, subpart B, Sec. 34.22(a) requires that for ARM
loans, the loan documentation must specify the index or combination of
indices to which changes in the interest rate will be linked. Sections
34.22(b) and 160.35(d)(3) provide the notice procedures to be used when
seeking to use an alternative index.
Twelve CFR 34.44 and 164.4 set forth the minimum standards for the
performance of real estate appraisals, including the requirement that
appraisals be in writing and contain sufficient information and
analysis to support the institution's decision to engage in the
transaction.
Twelve CFR 34.62, 160.101 and the related appendices require each
institution to adopt and maintain written policies that establish
appropriate limits and standards for extensions of credit that are
secured by liens on or interests in real estate, or that are made for
the purpose of financing permanent improvements to real estate. The
institution's board of directors must review and approve the
institution's real estate lending policies at least annually.
Twelve CFR 34.84 requires that, after holding any real estate
acquired for future bank expansion for one year, a national bank must
state, by resolution or other official action, its plans for the use of
the property and make the resolution or other action available for
inspection by examiners. Sections 34.85 and 160.172 require national
banks and Federal savings associations to develop prudent real estate
collateral evaluation policies to monitor the value of each parcel of
OREO in a manner consistent with prudent banking practice. Section
34.86 requires national banks to notify the appropriate supervisory
office at least 30 days before making advances under a development or
improvement plan for OREO if the total investment in the property will
exceed 10 percent of the bank's capital and surplus.
Twelve CFR 190.4(h) requires that for Federally-related residential
manufactured housing loans, a creditor must send the debtor a notice of
default at least 30 days prior to any repossession, foreclosure, or
acceleration of payments.
Affected Public: Businesses or other for-profit.
Frequency of Response: On occasion.
Burden Estimates:
Estimated Number of Respondents: 1,276 national banks and 532
Federal savings associations.
Estimated Annual Burden: 120,428 burden hours.
Comments: The OCC published a 60-day Federal Register Notice on
June 10, 2013 (78 FR 34707). No comments were received. Comments
continue to be invited 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 information
collection burden;
(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: August 12, 2013.
Michele Meyer,
Assistant Director, Legislative and Regulatory Activities Division.
[FR Doc. 2013-19878 Filed 8-16-13; 8:45 am]
BILLING CODE 4810-33-P
