Agency Information Collection Activities: Information Collection Renewal; Comment Request; Appraisals for Higher-Priced Mortgage Loans, 10511-10512 [2020-03520]
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Federal Register / Vol. 85, No. 36 / Monday, February 24, 2020 / Notices
This notice is published pursuant to
14 CFR 11.85.
Issued in Washington, DC, on February 18,
2020.
Brandon Roberts,
Deputy Executive Director, Office of
Rulemaking.
Petition for Exemption
Docket No.: FAA–2020–0035.
Petitioner: Hylio Inc.
Section(s) of 14 CFR Affected:
§§ 61.3(a)(1)(i); 91.7(a); 91.113(b);
91.119; 91.121; 91.151(b); 91.405(a);
91.407(a)(1); 91.409(a)(1) & (2); 91.417(a)
& (b); 107.29; 107.35; 107.36; 137.19(c),
(d), (e)(2)(ii), (e)(2)(iii), (e)(2)(iv) &
(e)(2)(v); 137.31(a) & (b); 137.33(a) & (b);
137.41(c); 137.42; 137.53(c)(2); &
175.9(b)(1) of 49 CFR.
Description of Relief Sought: The
proposed exemption, if granted, would
allow the petitioner to operate its Hylio
AG–116 unmanned aircraft systems
(UAS), with a takeoff weight under 125
pounds, for the commercial purpose of
conducting commercial agricultural
services, to include: carriage and release
of hazardous materials; multi-UAS
operations; and nighttime operations.
The petitioner plans to coordinate with
individual growers, researchers,
universities, and other interested parties
to advance the safe operation of
agricultural UAS in the United States.
[FR Doc. 2020–03664 Filed 2–21–20; 8:45 am]
BILLING CODE 4910–13–P
DEPARTMENT OF THE TREASURY
Office of the Comptroller of the
Currency
Agency Information Collection
Activities: Information Collection
Renewal; Comment Request;
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
lotter on DSKBCFDHB2PROD with NOTICES
SUMMARY:
VerDate Sep<11>2014
18:30 Feb 21, 2020
Jkt 250001
soliciting comment concerning renewal
of its information collection titled,
‘‘Appraisals for Higher-Priced Mortgage
Loans.’’
DATES: Comments must be submitted on
or before April 24, 2020.
ADDRESSES: Commenters are encouraged
to submit comments by email, if
possible. You may submit comments by
any of the following methods:
• Email: prainfo@occ.treas.gov.
• Mail: Chief Counsel’s Office,
Attention: Comment Processing, 1557–
0313, Office of the Comptroller of the
Currency, 400 7th Street SW, Suite 3E–
218, Washington, DC 20219.
• Hand Delivery/Courier: 400 7th
Street SW, Suite 3E–218, Washington,
DC 20219.
• Fax: (571) 465–4326.
Instructions: You must include
‘‘OCC’’ as the agency name and ‘‘1557–
0313’’ in your comment. In general, the
OCC will publish comments on
www.reginfo.gov without change,
including any business or personal
information provided, such as name and
address information, email addresses, or
phone numbers. 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.
You may review comments and other
related materials that pertain to this
information collection beginning on the
date of publication of the second notice
for this collection 1 by any of the
following methods:
• Viewing Comments Electronically:
Go to www.reginfo.gov. Click on the
‘‘Information Collection Review’’ tab.
Underneath the ‘‘Currently under
Review’’ section heading, from the dropdown menu select ‘‘Department of
Treasury’’ and then click ‘‘submit.’’ This
information collection can be located by
searching by OMB control number
‘‘1557–0313’’ or ‘‘Appraisals for HigherPriced Mortgage Loans.’’ Upon finding
the appropriate information collection,
click on the related ‘‘ICR Reference
Number.’’ On the next screen, select
‘‘View Supporting Statement and Other
Documents’’ and then click on the link
to any comment listed at the bottom of
the screen.
• For assistance in navigating
www.reginfo.gov, please contact the
Regulatory Information Service Center
at (202) 482–7340.
1 Following the close of this notice’s 60-day
comment period, the OCC will publish a second
notice with a 30-day comment period.
PO 00000
Frm 00114
Fmt 4703
Sfmt 4703
10511
• Viewing Comments Personally: You
may personally inspect comments at the
OCC, 400 7th Street SW, Washington,
DC. 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 hearing
impaired, 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 comments.
FOR FURTHER INFORMATION CONTACT:
Shaquita Merritt, (202) 649–5490 or, for
persons who are deaf or hearing
impaired, TTY, (202) 649–5597, Chief
Counsel’s Office, Office of the
Comptroller of the Currency, 400 7th
Street SW, Suite 3E–218, Washington,
DC 20219.
SUPPLEMENTARY INFORMATION: Under the
PRA (44 U.S.C. 3501 et seq.), 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. Section
3506(c)(2)(A) of title 44 requires Federal
agencies to provide a 60-day notice in
the Federal Register concerning each
proposed collection of information,
including each proposed extension of an
existing collection of information,
before submitting the collection to OMB
for approval. To comply with this
requirement, the OCC is publishing
notice of the proposed collection of
information set forth in this document.
Title: Appraisals for Higher-Priced
Mortgage Loans.
Description: This information
collection relates to section 1471 of the
Dodd-Frank Wall Street Reform and
Consumer Protection 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 information collection
requirements are found in 12 CFR
34.203(c)(1), (c)(2), (d), (e) and (f). This
information is required to protect
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10512
Federal Register / Vol. 85, No. 36 / Monday, February 24, 2020 / Notices
consumers and promote the safety and
soundness of creditors making higherpriced 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 the consumer with a disclosure
that informs the consumer that the
creditor may order an appraisal to
determine the value of the property and
charge the consumer for that appraisal,
that the creditor will provide the
consumer with a copy of any appraisal,
and that the consumer may choose to
have an additional appraisal conducted
at the expense of the consumer. If a loan
is an HPML subject to 12 CFR 34.203(c),
then, under 12 CFR 34.203(c)(1) and (2),
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 price in the
consumer’s agreement to acquire the
property 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 price in the
consumer’s agreement to acquire the
property 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
is obligated to pay to acquire the
property; (2) changes in market
conditions between the date the seller
acquired the property and the date of
the consumer’s agreement to acquire the
property; and (3) any improvements
made to the property between the date
the seller acquired the property and the
VerDate Sep<11>2014
18:30 Feb 21, 2020
Jkt 250001
date of the consumer’s agreement to
acquire the property. Under 12 CFR
34.203(f), a creditor is required to
provide the consumer with a copy of
any Additional Written Appraisal.
Affected Public: Businesses or other
for-profit.
Type of Submission: Regular.
Burden Estimates:
Estimated Number of Respondents:
1,134.
Estimated Total Annual Burden: 292
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;
(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: February 14, 2020.
Theodore J. Dowd,
Deputy Chief Counsel, Office of the
Comptroller of the Currency.
[FR Doc. 2020–03520 Filed 2–21–20; 8:45 am]
BILLING CODE 4810–33–P
Targeting, tel.: 202–622–2420; Assistant
Director for Licensing, tel.: 202–622–
2480; Assistant Director for Regulatory
Affairs, tel.: 202–622–4855; or Assistant
Director for Sanctions Compliance &
Evaluation, tel.: 202–622–2490.
SUPPLEMENTARY INFORMATION:
Electronic Availability
The Specially Designated Nationals
and Blocked Persons List (SDN List) and
additional information concerning
OFAC sanctions programs are available
on OFAC’s website (https://
www.treasury.gov/ofac).
Notice of OFAC Actions
On February 19, 2020, OFAC updated
the SDN List for the following entity,
whose property and interests in
property continue to be blocked under
the Foreign Narcotics Kingpin
Designation Act.
Entity
1. INVERSIONES CONTINENTAL, S.A. DE
C.V. (a.k.a. GRUPO FINANCIERO
CONTINENTAL; a.k.a. ‘‘GRUPO
FINANCIERO’’), Entre la 9 y 10 Avenida,
1ra Calle, Boulevard Morazan, CC Nova,
San Pedro Sula, Honduras; National ID No.
0101999501331 (Honduras); RTN
1019995013319 (Honduras) [SDNTK]
The listing for the entity now appears
as follows:
1. INVERSIONES CONTINENTAL, S.A. DE
C.V. (a.k.a. GRUPO FINANCIERO
CONTINENTAL; a.k.a. ‘‘GRUPO
FINANCIERO’’), Entre la 9 y 10 Avenida,
1ra Calle, Boulevard Morazan, CC Nova,
San Pedro Sula, Honduras; National ID No.
0501999514659 (Honduras); RTN
05019995146590 (Honduras) [SDNTK]
Dated: February 19, 2020.
Gregory T. Gatjanis,
Associate Director, Office of Global Targeting.
[FR Doc. 2020–03573 Filed 2–21–20; 8:45 am]
DEPARTMENT OF THE TREASURY
Office of Foreign Assets Control
Notice of OFAC Sanctions Actions
Office of Foreign Assets
Control, Department of the Treasury.
ACTION: Notice.
AGENCY:
The U.S. Department of the
Treasury’s Office of Foreign Assets
Control (OFAC) is publishing an update
to the identifying information of one
entity currently included on OFAC’s list
of Specially Designated Nationals and
Blocked Persons.
DATES: See SUPPLEMENTARY INFORMATION
section for the date on which the update
becomes effective.
FOR FURTHER INFORMATION CONTACT:
OFAC: Associate Director for Global
SUMMARY:
PO 00000
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BILLING CODE 4810–AL–P
DEPARTMENT OF VETERANS
AFFAIRS
[OMB Control No. 2900–0021]
Agency Information Collection
Activity: VA Loan Electronic Reporting
Interface (VALERI) System
Veterans Benefits
Administration, Department of Veterans
Affairs.
ACTION: Notice.
AGENCY:
The Veterans Benefits
Administration (VBA), Department of
Veterans Affairs (VA), is announcing an
opportunity for public comment on the
proposed collection of certain
information by the agency. Under the
SUMMARY:
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]]>Agencies
[Federal Register Volume 85, Number 36 (Monday, February 24, 2020)]
[Notices]
[Pages 10511-10512]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-03520]
=======================================================================
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DEPARTMENT OF THE TREASURY
Office of the Comptroller of the Currency
Agency Information Collection Activities: Information Collection
Renewal; Comment Request; 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 renewal of its information collection
titled, ``Appraisals for Higher-Priced Mortgage Loans.''
DATES: Comments must be submitted on or before April 24, 2020.
ADDRESSES: Commenters are encouraged to submit comments by email, if
possible. You may submit comments by any of the following methods:
Email: [email protected].
Mail: Chief Counsel's Office, Attention: Comment
Processing, 1557-0313, Office of the Comptroller of the Currency, 400
7th Street SW, Suite 3E-218, Washington, DC 20219.
Hand Delivery/Courier: 400 7th Street SW, Suite 3E-218,
Washington, DC 20219.
Fax: (571) 465-4326.
Instructions: You must include ``OCC'' as the agency name and
``1557-0313'' in your comment. In general, the OCC will publish
comments on www.reginfo.gov without change, including any business or
personal information provided, such as name and address information,
email addresses, or phone numbers. 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.
You may review comments and other related materials that pertain to
this information collection beginning on the date of publication of the
second notice for this collection \1\ by any of the following methods:
---------------------------------------------------------------------------
\1\ Following the close of this notice's 60-day comment period,
the OCC will publish a second notice with a 30-day comment period.
---------------------------------------------------------------------------
Viewing Comments Electronically: Go to www.reginfo.gov.
Click on the ``Information Collection Review'' tab. Underneath the
``Currently under Review'' section heading, from the drop-down menu
select ``Department of Treasury'' and then click ``submit.'' This
information collection can be located by searching by OMB control
number ``1557-0313'' or ``Appraisals for Higher-Priced Mortgage
Loans.'' Upon finding the appropriate information collection, click on
the related ``ICR Reference Number.'' On the next screen, select ``View
Supporting Statement and Other Documents'' and then click on the link
to any comment listed at the bottom of the screen.
For assistance in navigating www.reginfo.gov, please
contact the Regulatory Information Service Center at (202) 482-7340.
Viewing Comments Personally: You may personally inspect
comments at the OCC, 400 7th Street SW, Washington, DC. 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 hearing impaired, 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
comments.
FOR FURTHER INFORMATION CONTACT: Shaquita Merritt, (202) 649-5490 or,
for persons who are deaf or hearing impaired, TTY, (202) 649-5597,
Chief Counsel's Office, Office of the Comptroller of the Currency, 400
7th Street SW, Suite 3E-218, Washington, DC 20219.
SUPPLEMENTARY INFORMATION: Under the PRA (44 U.S.C. 3501 et seq.),
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.
Section 3506(c)(2)(A) of title 44 requires Federal agencies to provide
a 60-day notice in the Federal Register concerning each proposed
collection of information, including each proposed extension of an
existing collection of information, before submitting the collection to
OMB for approval. To comply with this requirement, the OCC is
publishing notice of the proposed collection of information set forth
in this document.
Title: Appraisals for Higher-Priced Mortgage Loans.
Description: This information collection relates to section 1471 of
the Dodd-Frank Wall Street Reform and Consumer Protection 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 information collection requirements are found in 12 CFR
34.203(c)(1), (c)(2), (d), (e) and (f). This information is required to
protect
[[Page 10512]]
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 the consumer with a disclosure that informs the
consumer that the creditor may order an appraisal to determine the
value of the property and charge the consumer for that appraisal, that
the creditor will provide the consumer with a copy of any appraisal,
and that the consumer may choose to have an additional appraisal
conducted at the expense of the consumer. If a loan is an HPML subject
to 12 CFR 34.203(c), then, under 12 CFR 34.203(c)(1) and (2), 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 price in the
consumer's agreement to acquire the property 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 price in the
consumer's agreement to acquire the property 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 is
obligated to pay to acquire the property; (2) changes in market
conditions between the date the seller acquired the property and the
date of the consumer's agreement to acquire the property; and (3) any
improvements made to the property between the date the seller acquired
the property and the date of the consumer's agreement to acquire the
property. Under 12 CFR 34.203(f), a creditor is required to provide the
consumer with a copy of any Additional Written Appraisal.
Affected Public: Businesses or other for-profit.
Type of Submission: Regular.
Burden Estimates:
Estimated Number of Respondents: 1,134.
Estimated Total Annual Burden: 292 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;
(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: February 14, 2020.
Theodore J. Dowd,
Deputy Chief Counsel, Office of the Comptroller of the Currency.
[FR Doc. 2020-03520 Filed 2-21-20; 8:45 am]
BILLING CODE 4810-33-P
