81 FR 23756 - Agency Information Collection Activities: Reverse Mortgage Products: Guidance for Managing Compliance and Reputation Risks; Comment Request

NATIONAL CREDIT UNION ADMINISTRATION

Federal Register Volume 81, Issue 78 (April 22, 2016)

Page Range		23756-23756
FR Document		2016-09379

NCUA, as part of its continuing effort to reduce paperwork and respondent burden, invites the general public and other Federal agencies to comment on this reinstatement of a previously approved collection, as required by Paperwork Reduction Act of 1995 (Pub. L. 104-13, 44 U.S.C. Chapter 35). The purpose of this notice is to allow for 60 days of public comment. NCUA is soliciting comments on the reinstatement of the information collection described below.

Federal Register, Volume 81 Issue 78 (Friday, April 22, 2016)

[Federal Register Volume 81, Number 78 (Friday, April 22, 2016)]
[Notices]
[Page 23756]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2016-09379]


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NATIONAL CREDIT UNION ADMINISTRATION


Agency Information Collection Activities: Reverse Mortgage 
Products: Guidance for Managing Compliance and Reputation Risks; 
Comment Request

AGENCY: National Credit Union Administration (NCUA).

ACTION: Notice and request for comment.

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SUMMARY: NCUA, as part of its continuing effort to reduce paperwork and 
respondent burden, invites the general public and other Federal 
agencies to comment on this reinstatement of a previously approved 
collection, as required by Paperwork Reduction Act of 1995 (Pub. L. 
104-13, 44 U.S.C. Chapter 35). The purpose of this notice is to allow 
for 60 days of public comment. NCUA is soliciting comments on the 
reinstatement of the information collection described below.

DATES: Comments should be received on or before June 21, 2016 to be 
assured consideration.

ADDRESSES: Interested persons are invited to submit written comments on 
the information collection to Dawn Wolfgang, National Credit Union 
Administration, 1775 Duke Street, Alexandria, Virginia 22314-3428; Fax 
No. 703-519-8579; or Email at [email protected].

FOR FURTHER INFORMATION CONTACT: Requests for additional information 
should be directed to the address above.

SUPPLEMENTARY INFORMATION:

I. Abstract and Request for Comments

    NCUA is requesting reinstatement of the previously approved 
collection of information related to the Reverse Mortgage Guidance 
which sets forth standards intended to ensure that financial 
institutions effectively assess and manage the compliance and 
reputation risks associated with reverse mortgage products. The 
information collection will allow NCUA to evaluate the adequacy of a 
federally-insured credit union's internal policies and procedures as 
they relate to reverse mortgage products.
    Comments submitted in response to this notice will be summarized 
and included in the request for Office of Management and Budget 
approval. All comments will be a matter of public record. The public is 
invited to submit comments concerning: (a) Whether the collection of 
information is necessary for the proper performance of the functions of 
the agency, including whether the information will have practical 
utility; (b) the accuracy of the agency's estimate of the burden of the 
collection of information, including the validity of the methodology 
and assumptions used; (c) ways to enhance the quality, utility, and 
clarity of the information to be collected; and (d) ways to minimize 
the burden of the collection of the information on the respondents, 
including the use of automated collection techniques or other forms of 
information technology.

II. Data

    Title: Reverse Mortgage Products: Guidance for Managing Reputation 
Risks.
    OMB Number: 3133-0187.
    Type of Review: Reinstatement without change of a previously 
approved collection.
    Description: The Reverse Mortgage Guidance sets forth standards 
intended to ensure that financial institutions effectively assess and 
manage the compliance and reputation risks associated with reverse 
mortgage products. The information collection will allow NCUA to 
evaluate the adequacy of a federally-insured credit union's internal 
policies and procedures as they relate to reverse mortgage products.
    Respondents: Federally insured credit unions.
    Estimated Number of Respondents: 28.
    Frequency of Response: Once, then annually.
    Estimated Burden Hours per Response: 40 hours to initially 
implement policies and procedures and to provide training; 8 hours 
annually to maintain program.
    Estimated Total Annual Burden Hours: 1,344.

    By Gerard Poliquin, Secretary of the Board, the National Credit 
Union Administration, on April 19, 2016.
    Dated: April 19, 2016
Dawn D. Wolfgang,
NCUA PRA Clearance Officer.
[FR Doc. 2016-09379 Filed 4-21-16; 8:45 am]
 BILLING CODE 7535-01-P

23756 Federal Register / Vol. 81, No. 78 / Friday, April 22, 2016 / Notices

11:15–11:45 a.m.—Town Hall to Receive from wearing scented personal care Comments submitted in response to
Comments on Mental Health Services products such as perfumes, hairsprays, this notice will be summarized and
in Higher Education and deodorants. included in the request for Office of
11:45 a.m.–12:45 p.m.—Lunch Break Dated: April 20, 2016. Management and Budget approval. All
12:45–1:30 p.m.—Medicaid Managed comments will be a matter of public
Rebecca Cokley,
Care and Challenges for the Direct record. The public is invited to submit
Executive Director.
Care Workforce comments concerning: (a) Whether the
1:30–2:00 p.m.—Town Hall to Receive [FR Doc. 2016–09592 Filed 4–20–16; 4:15 pm]
collection of information is necessary
Comments on Direct Care Workforce BILLING CODE 8421–03–P for the proper performance of the
Challenges functions of the agency, including
2:00–2:15 p.m.—Break whether the information will have
2:15–3:30 p.m.—Council discussion NATIONAL CREDIT UNION practical utility; (b) the accuracy of the
about next fiscal year’s policy ADMINISTRATION agency’s estimate of the burden of the
priorities collection of information, including the
3:30–4:30 p.m.—NCD Business Meeting Agency Information Collection validity of the methodology and
4:30 p.m.—Adjournment Activities: Reverse Mortgage Products: assumptions used; (c) ways to enhance
PUBLIC COMMENT: To better facilitate Guidance for Managing Compliance the quality, utility, and clarity of the
NCD’s public comment, any individual and Reputation Risks; Comment information to be collected; and (d)
interested in providing public comment Request ways to minimize the burden of the
is asked to register his or her intent to AGENCY: National Credit Union collection of the information on the
provide comment in advance by sending Administration (NCUA). respondents, including the use of
an email to PublicComment@ncd.gov automated collection techniques or
ACTION: Notice and request for comment.
with the subject line ‘‘Public Comment’’ other forms of information technology.
with your name, organization, state, and SUMMARY: NCUA, as part of its
topic of comment included in the body II. Data
continuing effort to reduce paperwork
of your email. Full-length written public and respondent burden, invites the Title: Reverse Mortgage Products:
comments may also be sent to that email general public and other Federal Guidance for Managing Reputation
address. All emails to register for public agencies to comment on this Risks.
comment at the quarterly meeting must reinstatement of a previously approved
be received by Wednesday, May 4, 2016. OMB Number: 3133–0187.
collection, as required by Paperwork
Priority will be given to those Reduction Act of 1995 (Pub. L. 104–13, Type of Review: Reinstatement
individuals who are in-person to 44 U.S.C. Chapter 35). The purpose of without change of a previously
provide their comments during the town this notice is to allow for 60 days of approved collection.
hall portions of the agenda. Those public comment. NCUA is soliciting Description: The Reverse Mortgage
commenters on the phone will be called comments on the reinstatement of the Guidance sets forth standards intended
on according to the list of those information collection described below. to ensure that financial institutions
registered via email. Due to time DATES: Comments should be received on effectively assess and manage the
constraints, NCD asks all commenters to or before June 21, 2016 to be assured compliance and reputation risks
limit their comments to three minutes. consideration. associated with reverse mortgage
Comments received at the May quarterly products. The information collection
meeting will be limited to those ADDRESSES: Interested persons are
will allow NCUA to evaluate the
regarding mental health services in invited to submit written comments on
adequacy of a federally-insured credit
higher education, and challenges to the the information collection to Dawn
union’s internal policies and procedures
direct care workforce, each during its Wolfgang, National Credit Union
as they relate to reverse mortgage
respective slot of time for the themed Administration, 1775 Duke Street,
products.
town hall as previously noted in the Alexandria, Virginia 22314–3428; Fax
agenda. No. 703–519–8579; or Email at Respondents: Federally insured credit
PRAComments@ncua.gov. unions.
CONTACT PERSON: Anne Sommers, NCD,
1331 F Street NW., Suite 850, FOR FURTHER INFORMATION CONTACT: Estimated Number of Respondents:
Washington, DC 20004; 202–272–2004 Requests for additional information 28.
(V), 202–272–2074 (TTY). should be directed to the address above. Frequency of Response: Once, then
ACCOMMODATIONS: A CART streamtext SUPPLEMENTARY INFORMATION: annually.
link has been arranged for this Estimated Burden Hours per
teleconference meeting. The web link to I. Abstract and Request for Comments
Response: 40 hours to initially
access CART on Thursday, May 5, 2016 NCUA is requesting reinstatement of implement policies and procedures and
is: https://www.streamtext.net/player the previously approved collection of to provide training; 8 hours annually to
?event=050516ncd100pm; and on information related to the Reverse maintain program.
Friday, May 6, 2016 is: https://www. Mortgage Guidance which sets forth
streamtext.net/player?event=050615 standards intended to ensure that Estimated Total Annual Burden
ncd830am. financial institutions effectively assess Hours: 1,344.
mstockstill on DSK4VPTVN1PROD with NOTICES

Those who plan to attend the meeting and manage the compliance and By Gerard Poliquin, Secretary of the Board,
in-person and require accommodations reputation risks associated with reverse the National Credit Union Administration, on
should notify NCD as soon as possible mortgage products. The information April 19, 2016.
to allow time to make arrangements. To collection will allow NCUA to evaluate Dated: April 19, 2016
help reduce exposure to fragrances for the adequacy of a federally-insured Dawn D. Wolfgang,
those with multiple chemical credit union’s internal policies and NCUA PRA Clearance Officer.
sensitivities, NCD requests that all those procedures as they relate to reverse [FR Doc. 2016–09379 Filed 4–21–16; 8:45 am]
attending the meeting in person refrain mortgage products. BILLING CODE 7535–01–P

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Document Created: 2017-08-22 23:38:03
Document Modified: 2017-08-22 23:38:03

Category		Regulatory Information
Collection		Federal Register
sudoc Class		AE 2.7: GS 4.107: AE 2.106:
Publisher		Office of the Federal Register, National Archives and Records Administration
Section		Notices
Action		Notice and request for comment.
Dates		Comments should be received on or before June 21, 2016 to be assured consideration.
Contact		Requests for additional information
FR Citation		81 FR 23756