81 FR 41373 - Agency Information Collection Activities: Information Collection Renewal; Comment Request; Real Estate Lending and Appraisals
DEPARTMENT OF THE TREASURY
Office of the Comptroller of the Currency Federal Register Volume 81, Issue 122 (June 24, 2016)
Office of the Comptroller of the Currency
Federal Register Volume 81, Issue 122 (June 24, 2016)
| Page Range | 41373-41374 | |
| FR Document | 2016-14939 |
[Federal Register Volume 81, Number 122 (Friday, June 24, 2016)] [Notices] [Pages 41373-41374] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2016-14939] ======================================================================= ----------------------------------------------------------------------- DEPARTMENT OF THE TREASURY Office of the Comptroller of the Currency Agency Information Collection Activities: Information Collection Renewal; Comment Request; Real Estate Lending and Appraisals 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, ``Real Estate Lending and Appraisals.'' DATES: Comments must be received by August 23, 2016. 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 [email protected]. 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. 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. Section 3506(c)(2)(A) of the PRA (44 U.S.C. 3506(c)(2)(A)) 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: 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 reporting and recordkeeping requirements. Twelve CFR part 34, subpart B (Adjustable- Rate Mortgages (ARM)), subpart E (Other Real Estate Owned (OREO)), and part 160 contain reporting requirements. Twelve CFR part 34, subpart C (Appraisal Requirements), subpart D (Real Estate Lending Standards), and parts 160 and 164 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, section 34.22(a) requires that for ARM loans, the loan documentation must specify an 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 notice procedures to be used when seeking to use an alternative index. Twelve CFR 34.44 and 164.4 provide minimum standards for the performance of real estate appraisals, including the [[Page 41374]] requirement that appraisals be written 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. Real estate lending policies must be reviewed and approved by the institution's board of directors 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 that national banks and Federal savings associations develop a prudent real estate collateral evaluation policy to monitor the value of each parcel of OREO in a manner consistent with prudent banking practice. Section 34.86 requires that national banks notify the appropriate OCC 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 provide a debtor a notice of default 30 days prior to repossession, foreclosure, or acceleration. Affected Public: Businesses or other for-profit. Frequency of Response: On occasion. Burden Estimates: Estimated Number of Respondents: 1,023 national banks and 390 Federal savings associations. Estimated Annual Burden: 94,512 burden hours. 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: June 20, 2016. Mary Hoyle Gottlieb, Regulatory Specialist, Legislative and Regulatory Activities Division. [FR Doc. 2016-14939 Filed 6-23-16; 8:45 am] BILLING CODE 4810-33-P
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(8) Develop and implement DEPARTMENT OF THE TREASURY you consider confidential or
procedures for the evaluation of well inappropriate for public disclosure.
and attendant storage facilities that Office of the Comptroller of the FOR FURTHER INFORMATION CONTACT:
include analysis of facility flow erosion, Currency Shaquita Merritt, OCC Clearance
hydrate potential, individual facility Officer, (202) 649–5490 or, for persons
Agency Information Collection
component capacity and fluid disposal who are deaf or hard of hearing, TTY,
Activities: Information Collection
capability at intended gas flow rates and (202) 649–5597, Legislative and
Renewal; Comment Request; Real
pressures, and analysis of the specific Regulatory Activities Division, Office of
Estate Lending and Appraisals
impacts that the intended operating the Comptroller of the Currency, 400 7th
pressure range could have on the AGENCY: Office of the Comptroller of the Street SW., Suite 3E–218, Mail Stop
corrosive potential of fluids in the Currency (OCC), Treasury. 9W–11, Washington, DC 20219.
system; ACTION: Notice and request for comment. SUPPLEMENTARY INFORMATION: Under the
(9) Identify potential threats and PRA (44 U.S.C. 3501–3520), Federal
SUMMARY: The OCC, as part of its agencies must obtain approval from the
hazards associated with operation of the
continuing effort to reduce paperwork OMB for each collection of information
underground storage facility;
and respondent burden, invites the that they conduct or sponsor.
(10) Perform ongoing verification and general public and other Federal ‘‘Collection of information’’ is defined
demonstration of the integrity of the agencies to take this opportunity to in 44 U.S.C. 3502(3) and 5 CFR
underground storage reservoir or cavern comment on a continuing information 1320.3(c) to include agency requests or
using appropriate monitoring collection, as required by the Paperwork requirements that members of the public
techniques for integrity changes such as Reduction Act of 1995 (PRA). submit reports, keep records, or provide
the monitoring of pressure and periodic In accordance with the requirements information to a third party. Section
pressure surveys, inventory (injection of the PRA, the OCC may not conduct 3506(c)(2)(A) of the PRA (44 U.S.C.
and withdrawal of all products), or sponsor, and the respondent is not 3506(c)(2)(A)) requires Federal agencies
product levels, cavern subsidence, and required to respond to, an information to provide a 60-day notice in the
the findings from adjacent production collection unless it displays a currently Federal Register concerning each
and water wells, and observation wells; valid Office of Management and Budget proposed collection of information,
(OMB) control number. including each proposed extension of an
(11) Ensure that emergency existing collection of information,
procedures are reviewed, conducted, The OCC is soliciting comment
concerning renewal of its information before submitting the collection to OMB
and updated at least annually; and for approval. To comply with this
collection titled, ‘‘Real Estate Lending
(12) Ensure records of the processes, and Appraisals.’’ requirement, the OCC is publishing
procedures, assessments, reassessments, notice of the proposed collection of
DATES: Comments must be received by
and mitigation measures are maintained information set forth in this document.
August 23, 2016. Title: Real Estate Lending and
for the life of the storage well.
ADDRESSES: Because paper mail in the Appraisals (12 CFR 34, 160, 164, 190).
The Aliso Canyon incident has Washington, DC area and at the OCC is OMB Control No.: 1557–0190.
highlighted the concern about the subject to delay, commenters are Type of Review: Extension, without
current lack of minimum federal encouraged to submit comments by revision, of a currently approved
regulations related to the downhole email, if possible. Comments may be collection.
operation of underground natural gas sent to: Legislative and Regulatory Description: Twelve CFR parts 34 and
storage wells. The full extent of the Activities Division, Office of the 160 contain reporting and
damage, both to people and the Comptroller of the Currency, Attention: recordkeeping requirements. Twelve
environment, caused by the Aliso 1557–0190, 400 7th Street SW., Suite CFR part 34, subpart B (Adjustable-Rate
Canyon incident will not be known 3E–218, Mail Stop 9W–11, Washington, Mortgages (ARM)), subpart E (Other
until much later. DC 20219. In addition, comments may Real Estate Owned (OREO)), and part
This workshop is a forum for PHMSA be sent by fax to (571) 465–4326 or by 160 contain reporting requirements.
to collect input regarding safety electronic mail to prainfo@occ.treas.gov. Twelve CFR part 34, subpart C
concerns of the public and the You may personally inspect and (Appraisal Requirements), subpart D
challenges industry faces in conducting photocopy comments at the OCC, 400 (Real Estate Lending Standards), and
daily operations, maintenance, integrity 7th Street SW., Washington, DC 20219. parts 160 and 164 contain
For security reasons, the OCC requires recordkeeping requirements. Twelve
verification, well monitoring, threat and
that visitors make an appointment to CFR 190.4(h) contains a disclosure
hazard identification, assessments,
inspect comments. You may do so by requirement concerning Federally-
remediation, site security, emergency calling (202) 649–6700 or, for persons related residential manufactured
response and preparedness, and who are deaf or hard of hearing, TTY, housing loans.
recordkeeping. (202) 649–5597. Upon arrival, visitors Twelve CFR part 34, subpart B,
Issued in Washington, DC, on June 20, will be required to present valid section 34.22(a) requires that for ARM
2016, under authority delegated in 49 CFR government-issued photo identification loans, the loan documentation must
1.97. and submit to security screening in specify an index or combination of
order to inspect and photocopy indices to which changes in the interest
sradovich on DSK3GDR082PROD with NOTICES
Alan K. Mayberry,
Acting Associate Administrator for Pipeline comments. rate will be linked. Sections 34.22(b)
Safety. All comments received, including and 160.35(d)(3) provide notice
[FR Doc. 2016–14953 Filed 6–23–16; 8:45 am] attachments and other supporting procedures to be used when seeking to
materials, are part of the public record use an alternative index.
BILLING CODE 4910–60–P
and subject to public disclosure. Do not Twelve CFR 34.44 and 164.4 provide
include any information in your minimum standards for the performance
comment or supporting materials that of real estate appraisals, including the
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![41374 Federal Register / Vol. 81, No. 122 / Friday, June 24, 2016 / Notices
requirement that appraisals be written (c) Ways to enhance the quality, 7th Street SW., Washington, DC 20219.
and contain sufficient information and utility, and clarity of the information to For security reasons, the OCC requires
analysis to support the institution’s be collected; that visitors make an appointment to
decision to engage in the transaction. (d) Ways to minimize the burden of inspect comments. You may do so by
Twelve CFR 34.62, 160.101, and the the collection on respondents, including calling (202) 649–6700 or, for persons
related appendices require each through the use of automated collection who are deaf or hard of hearing, TTY,
institution to adopt and maintain techniques or other forms of information (202) 649–5597. Upon arrival, visitors
written policies that establish technology; and will be required to present valid
appropriate limits and standards for (e) Estimates of capital or start-up government-issued photo identification
extensions of credit that are secured by costs and costs of operation, and submit to security screening in
liens on or interests in real estate or that maintenance, and purchase of services order to inspect and photocopy
are made for the purpose of financing to provide information. comments.
permanent improvements to real estate. Dated: June 20, 2016. All comments received, including
Real estate lending policies must be Mary Hoyle Gottlieb, attachments and other supporting
reviewed and approved by the Regulatory Specialist, Legislative and materials, are part of the public record
institution’s board of directors at least Regulatory Activities Division. and subject to public disclosure. Do not
annually. [FR Doc. 2016–14939 Filed 6–23–16; 8:45 am] include any information in your
Twelve CFR 34.84 requires that, after BILLING CODE 4810–33–P
comment or supporting materials that
holding any real estate acquired for you consider confidential or
future bank expansion for one year, a inappropriate for public disclosure.
national bank must state, by resolution DEPARTMENT OF THE TREASURY FOR FURTHER INFORMATION CONTACT:
or other official action, its plans for the Shaquita Merritt, OCC Clearance
use of the property and make the Office of the Comptroller of the Officer, (202) 649–5490 or, for persons
resolution or other action available for Currency who are deaf or hard of hearing, TTY,
inspection by examiners. Sections 34.85 (202) 649–5597, Legislative and
and 160.172 require that national banks Agency Information Collection Regulatory Activities Division, Office of
and Federal savings associations Activities: Information Collection the Comptroller of the Currency, 400 7th
develop a prudent real estate collateral Renewal; Comment Request; Survey of Street SW., Washington, DC 20219.
evaluation policy to monitor the value Minority Owned Institutions
SUPPLEMENTARY INFORMATION: Under the
of each parcel of OREO in a manner AGENCY: Office of the Comptroller of the PRA (44 U.S.C. 3501–3520), Federal
consistent with prudent banking Currency (OCC), Treasury. agencies must obtain approval from the
practice. Section 34.86 requires that ACTION: Notice and request for comment. OMB for each collection of information
national banks notify the appropriate that they conduct or sponsor.
OCC supervisory office at least 30 days SUMMARY: The OCC, as part of its ‘‘Collection of information’’ is defined
before making advances under a continuing effort to reduce paperwork in 44 U.S.C. 3502(3) and 5 CFR
development or improvement plan for and respondent burden, invites the 1320.3(c) to include agency requests or
OREO if the total investment in the general public and other Federal requirements that members of the public
property will exceed 10 percent of the agencies to comment on a continuing submit reports, keep records, or provide
bank’s capital and surplus. information collection, as required by information to a third party. Section
Twelve CFR 190.4(h) requires that for the Paperwork Reduction Act of 1995 3506(c)(2)(A) of the PRA (44 U.S.C.
Federally-related residential (PRA). 3506(c)(2)(A)) requires Federal agencies
manufactured housing loans, a creditor An agency may not conduct or to provide a 60-day notice in the
must provide a debtor a notice of default sponsor, and a respondent is not Federal Register concerning each
30 days prior to repossession, required to respond to, an information proposed collection of information,
foreclosure, or acceleration. collection unless it displays a currently including each proposed extension of an
Affected Public: Businesses or other valid Office of Management and Budget existing collection of information,
for-profit. (OMB) control number. before submitting the collection to OMB
Frequency of Response: On occasion. The OCC is soliciting comment for approval. To comply with this
Burden Estimates: concerning a renewal of an information requirement, the OCC is publishing
Estimated Number of Respondents: collection titled, ‘‘Survey of Minority notice of the proposed collection of
1,023 national banks and 390 Federal Owned Institutions.’’ information set forth in this document.
savings associations. DATES: Comments must be submitted on Title: Survey of Minority Owned
Estimated Annual Burden: 94,512 or before August 23, 2016. Institutions.
burden hours. ADDRESSES: Because paper mail in the OMB Control No.: 1557–0236.
Comments: Comments submitted in Washington, DC area and at the OCC is Type of Review: Regular review.
response to this notice will be subject to delay, commenters are Description: The OCC is committed to
summarized and included in the request encouraged to submit comments by assessing its efforts to provide
for OMB approval. All comments will email, if possible. Comments may be supervisory support, technical
become a matter of public record. sent to: Legislative and Regulatory assistance, education, and other
Comments are invited on: Activities Division, Office of the outreach to the minority-owned
(a) Whether the collection of Comptroller of the Currency, Attention: institutions under its supervision, in
sradovich on DSK3GDR082PROD with NOTICES
information is necessary for the proper 1557–0236, 400 7th Street SW., Suite accordance with meeting the goals
performance of the functions of the 3E–218, Mail Stop 9W–11, Washington, prescribed under section 308 of the
OCC, including whether the information DC 20219. In addition, comments may Financial Institutions Reform, Recovery,
has practical utility; be sent by fax to (571) 465–4326 or by and Enforcement Act of 1989.1 To
(b) The accuracy of the OCC’s electronic mail to prainfo@occ.treas.gov. perform this assessment, it is necessary
estimate of the information collection You may personally inspect and
burden; photocopy comments at the OCC, 400 1 12 U.S.C. 1463 note.
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Document Created: 2016-06-24 00:52:50
Document Modified: 2016-06-24 00:52:50
| 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 must be received by August 23, 2016. | |
| 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. | |
| FR Citation | 81 FR 41373 |
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