82 FR 8259 - Agency Information Collection Activities: Information Collection Renewal; Submission for OMB Review; Appraisals for Higher-Priced Mortgage Loans

DEPARTMENT OF THE TREASURY
Office of the Comptroller of the Currency

Federal Register Volume 82, Issue 14 (January 24, 2017)

Page Range		8259-8260
FR Document		2017-01436

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.

Federal Register, Volume 82 Issue 14 (Tuesday, January 24, 2017)

[Federal Register Volume 82, Number 14 (Tuesday, January 24, 2017)]
[Notices]
[Pages 8259-8260]
From the Federal Register Online  [www.thefederalregister.org]
[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.

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

Federal Register / Vol. 82, No. 14 / Tuesday, January 24, 2017 / Notices 8259

for the District of Columbia or in the DEPARTMENT OF THE TREASURY and subject to public disclosure. Do not
Court of Appeals for the United States include any information in your
for the circuit in which the petitioner Office of the Comptroller of the comment or supporting materials that
resides or has its principal place of Currency you consider confidential or
business, within 60 days after the inappropriate for public disclosure.
determination becomes final. 49 U.S.C. Agency Information Collection
Additionally, please send a copy of
5127(a). Activities: Information Collection
your comments by mail to: OCC Desk
Renewal; Submission for OMB Review;
Preemption determinations do not Officer, 1557–0313, U.S. Office of
Appraisals for Higher-Priced Mortgage
address issues of preemption arising Management and Budget, 725 17th
Loans
under the Commerce Clause, the Fifth Street NW., #10235, Washington, DC
Amendment or other provisions of the AGENCY: Office of the Comptroller of the 20503 or by email to: oira submission@
Constitution, or statutes other than the Currency (OCC), Treasury. omb.eop.gov.
Federal hazardous material ACTION: Notice and request for comment. FOR FURTHER INFORMATION CONTACT:
transportation law unless it is necessary Shaquita Merritt, OCC Clearance
to do so in order to determine whether SUMMARY: The OCC, as part of its
continuing effort to reduce paperwork Officer, (202) 649–5490 or, for persons
a requirement is authorized by another who are deaf or hard of hearing, TTY,
Federal law, or whether a fee is ‘‘fair’’ and respondent burden, invites the
general public and other Federal (202) 649–5597, Legislative and
within the meaning of 49 U.S.C. Regulatory Activities Division, Office of
5125(f)(1). A State, local or Indian tribe agencies to take this opportunity to
comment on a continuing information the Comptroller of the Currency, 400 7th
requirement is not authorized by Street SW., Suite 3E–218, Mail Stop
another Federal law merely because it is collection as required by the Paperwork
Reduction Act of 1995 (PRA). 9W–11, Washington, DC 20219.
not preempted by another Federal
statute. Colorado Pub. Util. Comm’n v. In accordance with the requirements SUPPLEMENTARY INFORMATION: Under the
Harmon, above, 951 F.2d at 1581 n.10. of the PRA, the OCC may not conduct PRA (44 U.S.C. 3501–3520), Federal
or sponsor, and the respondent is not agencies must obtain approval from the
In making preemption determinations
required to respond to, an information OMB for each collection of information
under 49 U.S.C. 5125(d), PHMSA is
collection unless it displays a currently that they conduct or sponsor.
guided by the principles and policies set
valid Office of Management and Budget ‘‘Collection of information’’ is defined
forth in Executive Order No. 13132,
(OMB) control number. in 44 U.S.C. 3502(3) and 5 CFR
entitled ‘‘Federalism’’ (64 FR 43255
The OCC is soliciting comment 1320.3(c) to include agency requests or
(Aug. 10, 1999)), and the President’s
concerning the renewal of its requirements that members of the public
May 20, 2009 memorandum on
information collection titled submit reports, keep records, or provide
‘‘Preemption’’ (74 FR 24693 (May 22,
‘‘Appraisals for Higher-Priced Mortgage information to a third party. The OCC
2009)). Section 4(a) of that Executive
Loans.’’ The OCC also is giving notice requests that OMB extend its approval
Order authorizes preemption of State
that it has sent the collection to OMB for of the following collection:
laws only when a statute contains an
review. Title: Appraisals for Higher-Priced
express preemption provision, there is
other clear evidence Congress intended DATES: Comments must be submitted on Mortgage Loans.
to preempt State law, or the exercise of or before February 23, 2017. OMB Control No.: 1557–0313.
State authority directly conflicts with ADDRESSES: Because paper mail in the
Type of Review: Regular.
the exercise of Federal authority. The Washington, DC area and at the OCC is
subject to delay, commenters are Frequency of Response: On occasion.
President’s May 20, 2009 memorandum
sets forth the policy ‘‘that preemption of encouraged to submit comments by Affected Public: Businesses or other
State law by executive departments and email, if possible. Comments may be for-profit.
agencies should be undertaken only sent to: Legislative and Regulatory Estimated Number of Respondents:
with full consideration of the legitimate Activities Division, Office of the 1,399.
prerogatives of the States and with a Comptroller of the Currency, Attention: Estimated Total Annual Burden:
sufficient legal basis for preemption.’’ 1557–0313, 400 7th Street SW., Suite 19,946 hours.
Section 5125 contains express 3E–218, Mail Stop 9W–11, Washington,
Description:
preemption provisions, which PHMSA DC 20219. In addition, comments may
be sent by fax to (571) 465–4326 or by This information collection relates to
has implemented through its
electronic mail to prainfo@occ.treas.gov. section 1471 of the Dodd-Frank Act,
regulations.
You may personally inspect and which added a new section 129H to the
IV. Public Comments photocopy comments at the OCC, 400 Truth in Lending Act (TILA)
7th Street SW., Washington, DC 20219. establishing special appraisal
All comments should be directed to requirements for ‘‘higher-risk
whether 49 U.S.C. 5125 preempts a For security reasons, the OCC requires
that visitors make an appointment to mortgages.’’ For certain mortgages with
hazardous waste regulation of the State an annual percentage rate that exceeds
of Oregon that imposes a strict liability inspect comments. You may do so by
calling (202) 649–6700 or, for persons the average prime offer rate by a
standard on transporters. Comments specified percentage, creditors must
should specifically address the who are deaf or hard of hearing, TTY,
(202) 649–5597. Upon arrival, visitors obtain an appraisal or appraisals
preemption criteria discussed in Part II meeting certain specified standards,
sradovich on DSK3GMQ082PROD with NOTICES

above. will be required to present valid
government-issued photo identification provide applicants with a notification
Issued in Washington, DC, on January 10, and submit to security screening in regarding the use of the appraisals, and
2017. give applicants a copy of the written
order to inspect and photocopy
Vasiliki Tsaganos, comments. appraisals used. The statute permits the
Acting Chief Counsel. All comments received, including OCC to issue a rule to include
[FR Doc. 2017–00788 Filed 1–23–17; 8:45 am] attachments and other supporting exemptions from these requirements.
BILLING CODE 4910–60–P materials, are part of the public record The OCC implemented these

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8260 Federal Register / Vol. 82, No. 14 / Tuesday, January 24, 2017 / Notices

requirements and exemptions thereto in property; and (3) any improvements identified as the Government of Syria
2013.1 made to the property between the date pursuant to E.O. 13582.
The information collection the seller acquired the property and the DATES: OFAC’s actions described in this
requirements are found in 12 CFR date on which the consumer agreed to notice were effective on January 12,
34.203(c) through (f). This information acquire the property. Under 12 CFR 2017, as further specified below.
is required to protect consumers and 34.203(f), a creditor is required to
promote the safety and soundness of provide a copy of any Additional FOR FURTHER INFORMATION CONTACT: The
creditors making higher-priced mortgage Written Appraisal to the consumer. Department of the Treasury’s Office of
loans (HPMLs) subject to 12 CFR part Comments: On November 4, 2016, the Foreign Assets Control: Assistant
34, subpart G. This information is used OCC issued a 60-day notice soliciting Director for Licensing, tel.: 202–622–
by creditors to evaluate real estate comment on the information collection, 2480, Assistant Director for Regulatory
collateral securing HPMLs subject to 12 81 FR 77001. No comments were Affairs, tel.: 202–622–4855, Assistant
CFR 1026.35(c) and by consumers received. Comments continue to be Director for Sanctions Compliance &
entering these transactions. The invited on: Evaluation, tel.: 202–622–2490; or the
collections of information are Department of the Treasury’s Office of
(a) Whether the collection of
mandatory for creditors making HPMLs the Chief Counsel (Foreign Assets
information is necessary for the proper
subject to 12 CFR part 34, subpart G. Control), Office of the General Counsel,
performance of the functions of the
Under 12 CFR 34.203(e) and (f), a tel.: 202–622–2410.
OCC, including whether the information
creditor must, no later than the third SUPPLEMENTARY INFORMATION:
has practical utility;
business day after the creditor receives
a consumer’s application for an HPML, (b) The accuracy of the OCC’s Electronic Availability
provide a disclosure to the consumer estimate of the information collection
burden; The Specially Designated Nationals
that informs the consumer of the and Blocked Persons List and additional
purpose of the appraisal, that the (c) Ways to enhance the quality,
utility, and clarity of the information to information concerning OFAC sanctions
creditor will provide the consumer with programs are available on OFAC’s Web
a copy of any appraisal, and that the be collected;
(d) Ways to minimize the burden of site (www.treas.gov/ofac).
consumer may choose to have a separate
appraisal conducted at the expense of the collection on respondents, including Notice of OFAC Actions
the consumer (Initial Appraisal through the use of automated collection
techniques or other forms of information On January 12, 2017, OFAC blocked
Disclosure). If a loan is an HPML subject
technology; and the property and interests in property of
to 12 CFR 1026.35(c), then the creditor
is required to obtain a written appraisal (e) Estimates of capital or start-up the following seven persons pursuant to
prepared by a certified or licensed costs and costs of operation, E.O. 13382, ‘‘Blocking Property of
appraiser who conducts a physical visit maintenance, and purchase of services Weapons of Mass Destruction
of the interior of the property that will to provide information. Proliferators and Their Supporters’’:
secure the transaction (Written Dated: January 17, 2017. Individuals
Appraisal) and provide a copy of the Karen Solomon, 1. ABBAS, Ghassan; DOB 10 Mar 1960;
Written Appraisal to the consumer. Deputy Chief Counsel, Office of the Scientific Studies and Research Center
Under 12 CFR 34.203(d)(1), a creditor is Comptroller of the Currency. Brigadier General (individual) [NPWMD]
required to obtain an additional (Linked To: SCIENTIFIC STUDIES AND
[FR Doc. 2017–01436 Filed 1–23–17; 8:45 am]
appraisal (Additional Written RESEARCH CENTER).
BILLING CODE 4810–33–P 2. AHMAD, Firas; DOB 21 Jan 1967;
Appraisal) for an HPML that is subject
Scientific Studies and Research Center
to 12 CFR part 34, subpart G if: (1) The
Colonel (individual) [NPWMD] (Linked To:
seller acquired the property securing the DEPARTMENT OF THE TREASURY SCIENTIFIC STUDIES AND RESEARCH
loan 90 or fewer days prior to the date CENTER).
of the consumer’s agreement to acquire Office of Foreign Assets Control 3. DABUL, Samir; DOB 04 Sep 1965;
the property and the resale price Scientific Studies and Research Center
exceeds the seller’s acquisition price by Sanctions Actions Pursuant to Brigadier General (individual) [NPWMD]
more than 10 percent; or (2) the seller Executive Orders 13382, 13572, 13573, (Linked To: SCIENTIFIC STUDIES AND
acquired the property securing the loan and 13582. RESEARCH CENTER).
91 to 180 days prior to the date of the 4. HAWRANI, Habib; DOB 25 Mar 1969;
consumer’s agreement to acquire the AGENCY: Office of Foreign Assets Scientific Studies and Research Center
Control, Treasury. Colonel (individual) [NPWMD] (Linked To:
property and the resale price exceeds SCIENTIFIC STUDIES AND RESEARCH
the seller’s acquisition price by more ACTION: Notice.
CENTER).
than 20 percent. 5. HAYDAR, Zuhayr; DOB 18 Dec 1965;
Under 12 CFR 34.203(d)(3) and (4), SUMMARY: The U.S. Department of the Scientific Studies and Research Center
the Additional Written Appraisal must Treasury’s Office of Foreign Assets Colonel (individual) [NPWMD] (Linked To:
meet the requirements described in 12 Control (OFAC) is publishing the names SCIENTIFIC STUDIES AND RESEARCH
CFR 34.203(c)(1) and also include an of seven persons whose property and CENTER).
analysis of: (1) The difference between interests in property are blocked 6. WANUS, Ali; DOB 05 Feb 1964;
the price at which the seller acquired pursuant to Executive Order (E.O.) Scientific Studies and Research Center
13382, five persons whose property and Brigadier General (individual) [NPWMD]
sradovich on DSK3GMQ082PROD with NOTICES

the property and the price the consumer
interests in property are blocked (Linked To: SCIENTIFIC STUDIES AND
agreed to pay; (2) changes in market RESEARCH CENTER).
conditions between the date the seller pursuant to E.O. 13572, five persons
7. BITAR, Bayan (a.k.a. AL–BITAR, Bayan),
acquired the property and the date the whose property and interests in PO Box 11037, Damascus, Syria; DOB 08 Mar
consumer agreed to acquire the property are blocked pursuant to E.O. 1947; Managing Director of the Organization
13573, one person whose property and for Technological Industries (individual)
1 78 FR 10368 (February 13, 2013) and 78 FR interests in property are blocked [NPWMD] (Linked To: ORGANIZATION FOR
78519 (December 26, 2013). pursuant to E.O. 13582, and five entities TECHNOLOGICAL INDUSTRIES).

VerDate Sep<11>2014 19:36 Jan 23, 2017 Jkt 241001 PO 00000 Frm 00087 Fmt 4703 Sfmt 4703 E:\FR\FM\24JAN1.SGM 24JAN1

Document Created: 2018-02-01 15:12:35
Document Modified: 2018-02-01 15:12:35

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 submitted on or before February 23, 2017.
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		82 FR 8259

82 FR 8259 - Agency Information Collection Activities: Information Collection Renewal; Submission for OMB Review; Appraisals for Higher-Priced Mortgage Loans

DEPARTMENT OF THE TREASURYOffice of the Comptroller of the Currency

Federal Register Volume 82, Issue 14 (January 24, 2017)

DEPARTMENT OF THE TREASURY
Office of the Comptroller of the Currency