Agency Information Collection Activities: Information Collection Renewal; Submission for OMB Review; Appraisals for Higher-Priced Mortgage Loans, 8259-8260 [2017-01436]

Download as PDF Federal Register / Vol. 82, No. 14 / Tuesday, January 24, 2017 / Notices for the District of Columbia or in the Court of Appeals for the United States for the circuit in which the petitioner resides or has its principal place of business, within 60 days after the determination becomes final. 49 U.S.C. 5127(a). Preemption determinations do not address issues of preemption arising under the Commerce Clause, the Fifth Amendment or other provisions of the Constitution, or statutes other than the Federal hazardous material transportation law unless it is necessary to do so in order to determine whether a requirement is authorized by another Federal law, or whether a fee is ‘‘fair’’ within the meaning of 49 U.S.C. 5125(f)(1). A State, local or Indian tribe requirement is not authorized by another Federal law merely because it is not preempted by another Federal statute. Colorado Pub. Util. Comm’n v. Harmon, above, 951 F.2d at 1581 n.10. In making preemption determinations under 49 U.S.C. 5125(d), PHMSA is guided by the principles and policies set forth in Executive Order No. 13132, entitled ‘‘Federalism’’ (64 FR 43255 (Aug. 10, 1999)), and the President’s May 20, 2009 memorandum on ‘‘Preemption’’ (74 FR 24693 (May 22, 2009)). Section 4(a) of that Executive Order authorizes preemption of State laws only when a statute contains an express preemption provision, there is other clear evidence Congress intended to preempt State law, or the exercise of State authority directly conflicts with the exercise of Federal authority. The President’s May 20, 2009 memorandum sets forth the policy ‘‘that preemption of State law by executive departments and agencies should be undertaken only with full consideration of the legitimate prerogatives of the States and with a sufficient legal basis for preemption.’’ Section 5125 contains express preemption provisions, which PHMSA has implemented through its regulations. sradovich on DSK3GMQ082PROD with NOTICES IV. Public Comments All comments should be directed to whether 49 U.S.C. 5125 preempts a hazardous waste regulation of the State of Oregon that imposes a strict liability standard on transporters. Comments should specifically address the preemption criteria discussed in Part II above. Issued in Washington, DC, on January 10, 2017. Vasiliki Tsaganos, Acting Chief Counsel. [FR Doc. 2017–00788 Filed 1–23–17; 8:45 am] BILLING CODE 4910–60–P VerDate Sep<11>2014 19:36 Jan 23, 2017 Jkt 241001 DEPARTMENT OF THE TREASURY Office of the Comptroller of the Currency Agency Information Collection Activities: Information Collection Renewal; Submission for OMB Review; Appraisals for Higher-Priced Mortgage Loans 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 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 Office of Management and Budget (OMB) control number. The OCC is soliciting comment concerning the renewal of its information collection titled ‘‘Appraisals for Higher-Priced Mortgage Loans.’’ The OCC also is giving notice that it has sent the collection to OMB for review. DATES: Comments must be submitted on or before February 23, 2017. 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: 1557–0313, 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 prainfo@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 or, for persons who are deaf or hard of hearing, TTY, (202) 649–5597. Upon arrival, visitors will be required to present valid government-issued photo identification and 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 SUMMARY: PO 00000 Frm 00086 Fmt 4703 Sfmt 4703 8259 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, 1557–0313, 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: Shaquita Merritt, OCC Clearance Officer, (202) 649–5490 or, for persons who are deaf or hard of hearing, TTY, (202) 649–5597, 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. 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 requests that OMB extend its approval of the following collection: Title: Appraisals for Higher-Priced Mortgage Loans. OMB Control No.: 1557–0313. Type of Review: Regular. Frequency of Response: On occasion. Affected Public: Businesses or other for-profit. Estimated Number of Respondents: 1,399. Estimated Total Annual Burden: 19,946 hours. Description: This information collection relates to section 1471 of the Dodd-Frank Act, which added a new section 129H to the Truth in Lending Act (TILA) establishing special appraisal requirements for ‘‘higher-risk mortgages.’’ For certain mortgages with an annual percentage rate that exceeds the average prime offer rate by a specified percentage, creditors must obtain an appraisal or appraisals meeting certain specified standards, provide applicants with a notification regarding the use of the appraisals, and give applicants a copy of the written appraisals used. The statute permits the OCC to issue a rule to include exemptions from these requirements. The OCC implemented these SUPPLEMENTARY INFORMATION: E:\FR\FM\24JAN1.SGM 24JAN1 sradovich on DSK3GMQ082PROD with NOTICES 8260 Federal Register / Vol. 82, No. 14 / Tuesday, January 24, 2017 / Notices requirements and exemptions thereto in 2013.1 The information collection requirements are found in 12 CFR 34.203(c) through (f). This information is required to protect consumers and promote the safety and soundness of creditors making higher-priced mortgage loans (HPMLs) subject to 12 CFR part 34, subpart G. This information is used by creditors to evaluate real estate collateral securing HPMLs subject to 12 CFR 1026.35(c) and by consumers entering these transactions. The collections of information are mandatory for creditors making HPMLs subject to 12 CFR part 34, subpart G. Under 12 CFR 34.203(e) and (f), a creditor must, no later than the third business day after the creditor receives a consumer’s application for an HPML, provide a disclosure to the consumer that informs the consumer of the purpose of the appraisal, that the creditor will provide the consumer with a copy of any appraisal, and that the consumer may choose to have a separate appraisal conducted at the expense of the consumer (Initial Appraisal Disclosure). If a loan is an HPML subject to 12 CFR 1026.35(c), then the creditor is required to obtain a written appraisal prepared by a certified or licensed appraiser who conducts a physical visit of the interior of the property that will secure the transaction (Written Appraisal) and provide a copy of the Written Appraisal to the consumer. Under 12 CFR 34.203(d)(1), a creditor is required to obtain an additional appraisal (Additional Written Appraisal) for an HPML that is subject to 12 CFR part 34, subpart G if: (1) The seller acquired the property securing the loan 90 or fewer days prior to the date of the consumer’s agreement to acquire the property and the resale price exceeds the seller’s acquisition price by more than 10 percent; or (2) the seller acquired the property securing the loan 91 to 180 days prior to the date of the consumer’s agreement to acquire the property and the resale price exceeds the seller’s acquisition price by more than 20 percent. Under 12 CFR 34.203(d)(3) and (4), the Additional Written Appraisal must meet the requirements described in 12 CFR 34.203(c)(1) and also include an analysis of: (1) The difference between the price at which the seller acquired the property and the price the consumer agreed to pay; (2) changes in market conditions between the date the seller acquired the property and the date the consumer agreed to acquire the 1 78 FR 10368 (February 13, 2013) and 78 FR 78519 (December 26, 2013). VerDate Sep<11>2014 19:36 Jan 23, 2017 Jkt 241001 property; and (3) any improvements made to the property between the date the seller acquired the property and the date on which the consumer agreed to acquire the property. Under 12 CFR 34.203(f), a creditor is required to provide a copy of any Additional Written Appraisal to the consumer. Comments: On November 4, 2016, the OCC issued a 60-day notice soliciting comment on the information collection, 81 FR 77001. 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: January 17, 2017. Karen Solomon, Deputy Chief Counsel, Office of the Comptroller of the Currency. [FR Doc. 2017–01436 Filed 1–23–17; 8:45 am] BILLING CODE 4810–33–P DEPARTMENT OF THE TREASURY Office of Foreign Assets Control Sanctions Actions Pursuant to Executive Orders 13382, 13572, 13573, and 13582. Office of Foreign Assets Control, Treasury. ACTION: Notice. AGENCY: The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) is publishing the names of seven persons whose property and interests in property are blocked pursuant to Executive Order (E.O.) 13382, five persons whose property and interests in property are blocked pursuant to E.O. 13572, five persons whose property and interests in property are blocked pursuant to E.O. 13573, one person whose property and interests in property are blocked pursuant to E.O. 13582, and five entities SUMMARY: PO 00000 Frm 00087 Fmt 4703 Sfmt 4703 identified as the Government of Syria pursuant to E.O. 13582. DATES: OFAC’s actions described in this notice were effective on January 12, 2017, as further specified below. FOR FURTHER INFORMATION CONTACT: The Department of the Treasury’s Office of Foreign Assets Control: Assistant Director for Licensing, tel.: 202–622– 2480, Assistant Director for Regulatory Affairs, tel.: 202–622–4855, Assistant Director for Sanctions Compliance & Evaluation, tel.: 202–622–2490; or the Department of the Treasury’s Office of the Chief Counsel (Foreign Assets Control), Office of the General Counsel, tel.: 202–622–2410. SUPPLEMENTARY INFORMATION: Electronic Availability The Specially Designated Nationals and Blocked Persons List and additional information concerning OFAC sanctions programs are available on OFAC’s Web site (www.treas.gov/ofac). Notice of OFAC Actions On January 12, 2017, OFAC blocked the property and interests in property of the following seven persons pursuant to E.O. 13382, ‘‘Blocking Property of Weapons of Mass Destruction Proliferators and Their Supporters’’: Individuals 1. ABBAS, Ghassan; DOB 10 Mar 1960; Scientific Studies and Research Center Brigadier General (individual) [NPWMD] (Linked To: SCIENTIFIC STUDIES AND RESEARCH CENTER). 2. AHMAD, Firas; DOB 21 Jan 1967; Scientific Studies and Research Center Colonel (individual) [NPWMD] (Linked To: SCIENTIFIC STUDIES AND RESEARCH CENTER). 3. DABUL, Samir; DOB 04 Sep 1965; Scientific Studies and Research Center Brigadier General (individual) [NPWMD] (Linked To: SCIENTIFIC STUDIES AND RESEARCH CENTER). 4. HAWRANI, Habib; DOB 25 Mar 1969; Scientific Studies and Research Center Colonel (individual) [NPWMD] (Linked To: SCIENTIFIC STUDIES AND RESEARCH CENTER). 5. HAYDAR, Zuhayr; DOB 18 Dec 1965; Scientific Studies and Research Center Colonel (individual) [NPWMD] (Linked To: SCIENTIFIC STUDIES AND RESEARCH CENTER). 6. WANUS, Ali; DOB 05 Feb 1964; Scientific Studies and Research Center Brigadier General (individual) [NPWMD] (Linked To: SCIENTIFIC STUDIES AND RESEARCH CENTER). 7. BITAR, Bayan (a.k.a. AL–BITAR, Bayan), PO Box 11037, Damascus, Syria; DOB 08 Mar 1947; Managing Director of the Organization for Technological Industries (individual) [NPWMD] (Linked To: ORGANIZATION FOR TECHNOLOGICAL INDUSTRIES). E:\FR\FM\24JAN1.SGM 24JAN1

Agencies

[Federal Register Volume 82, Number 14 (Tuesday, January 24, 2017)]
[Notices]
[Pages 8259-8260]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2017-01436]


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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; Appraisals for Higher-Priced 
Mortgage Loans

AGENCY: Office of the Comptroller of the Currency (OCC), Treasury.

ACTION: Notice and request for comment.

-----------------------------------------------------------------------

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 Office 
of Management and Budget (OMB) control number.
    The OCC is soliciting comment concerning the renewal of its 
information collection titled ``Appraisals for Higher-Priced Mortgage 
Loans.'' The OCC also is giving notice that it has sent the collection 
to OMB for review.

DATES: Comments must be submitted on or before February 23, 2017.

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: 1557-0313, 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 prainfo@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 or, for persons who are deaf or hard of 
hearing, TTY, (202) 649-5597. Upon arrival, visitors will be required 
to present valid government-issued photo identification and 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 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, 1557-0313, 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: Shaquita Merritt, OCC Clearance 
Officer, (202) 649-5490 or, for persons who are deaf or hard of 
hearing, TTY, (202) 649-5597, 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: 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 requests 
that OMB extend its approval of the following collection:
    Title: Appraisals for Higher-Priced Mortgage Loans.
    OMB Control No.: 1557-0313.
    Type of Review: Regular.
    Frequency of Response: On occasion.
    Affected Public: Businesses or other for-profit.
    Estimated Number of Respondents: 1,399.
    Estimated Total Annual Burden: 19,946 hours.
    Description:
    This information collection relates to section 1471 of the Dodd-
Frank Act, which added a new section 129H to the Truth in Lending Act 
(TILA) establishing special appraisal requirements for ``higher-risk 
mortgages.'' For certain mortgages with an annual percentage rate that 
exceeds the average prime offer rate by a specified percentage, 
creditors must obtain an appraisal or appraisals meeting certain 
specified standards, provide applicants with a notification regarding 
the use of the appraisals, and give applicants a copy of the written 
appraisals used. The statute permits the OCC to issue a rule to include 
exemptions from these requirements. The OCC implemented these

[[Page 8260]]

requirements and exemptions thereto in 2013.\1\
---------------------------------------------------------------------------

    \1\ 78 FR 10368 (February 13, 2013) and 78 FR 78519 (December 
26, 2013).
---------------------------------------------------------------------------

    The information collection requirements are found in 12 CFR 
34.203(c) through (f). This information is required to protect 
consumers and promote the safety and soundness of creditors making 
higher-priced mortgage loans (HPMLs) subject to 12 CFR part 34, subpart 
G. This information is used by creditors to evaluate real estate 
collateral securing HPMLs subject to 12 CFR 1026.35(c) and by consumers 
entering these transactions. The collections of information are 
mandatory for creditors making HPMLs subject to 12 CFR part 34, subpart 
G.
    Under 12 CFR 34.203(e) and (f), a creditor must, no later than the 
third business day after the creditor receives a consumer's application 
for an HPML, provide a disclosure to the consumer that informs the 
consumer of the purpose of the appraisal, that the creditor will 
provide the consumer with a copy of any appraisal, and that the 
consumer may choose to have a separate appraisal conducted at the 
expense of the consumer (Initial Appraisal Disclosure). If a loan is an 
HPML subject to 12 CFR 1026.35(c), then the creditor is required to 
obtain a written appraisal prepared by a certified or licensed 
appraiser who conducts a physical visit of the interior of the property 
that will secure the transaction (Written Appraisal) and provide a copy 
of the Written Appraisal to the consumer. Under 12 CFR 34.203(d)(1), a 
creditor is required to obtain an additional appraisal (Additional 
Written Appraisal) for an HPML that is subject to 12 CFR part 34, 
subpart G if: (1) The seller acquired the property securing the loan 90 
or fewer days prior to the date of the consumer's agreement to acquire 
the property and the resale price exceeds the seller's acquisition 
price by more than 10 percent; or (2) the seller acquired the property 
securing the loan 91 to 180 days prior to the date of the consumer's 
agreement to acquire the property and the resale price exceeds the 
seller's acquisition price by more than 20 percent.
    Under 12 CFR 34.203(d)(3) and (4), the Additional Written Appraisal 
must meet the requirements described in 12 CFR 34.203(c)(1) and also 
include an analysis of: (1) The difference between the price at which 
the seller acquired the property and the price the consumer agreed to 
pay; (2) changes in market conditions between the date the seller 
acquired the property and the date the consumer agreed to acquire the 
property; and (3) any improvements made to the property between the 
date the seller acquired the property and the date on which the 
consumer agreed to acquire the property. Under 12 CFR 34.203(f), a 
creditor is required to provide a copy of any Additional Written 
Appraisal to the consumer.
    Comments: On November 4, 2016, the OCC issued a 60-day notice 
soliciting comment on the information collection, 81 FR 77001. 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: January 17, 2017.
Karen Solomon,
Deputy Chief Counsel, Office of the Comptroller of the Currency.
[FR Doc. 2017-01436 Filed 1-23-17; 8:45 am]
 BILLING CODE 4810-33-P