Loans in Areas Having Special Flood Hazards

OMB Control No: 1557-0202	ICR Reference No: 201310-1557-002
Status: Historical Inactive	Previous ICR Reference No: 201012-1557-003
Agency/Subagency: TREAS/OCC	Agency Tracking No:
Title: Loans in Areas Having Special Flood Hazards
Type of Information Collection: Revision of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Comment filed on proposed rule and continue	Conclusion Date: 07/22/2014
Retrieve Notice of Action (NOA)	Date Received in OIRA: 10/30/2013
Terms of Clearance: Pursuant to 5 CFR 1320.11(c), OMB files this comment on this information collection request (ICR. The agency shall examine public comment in response to the NPRM and will describe in the supporting statement of its next collection any public comments received regarding the collection as well as why (or why it did not) incorporate the commenter’s recommendation. The next submission to OMB must include the draft final rule.

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	09/30/2014	36 Months From Approved	11/30/2014
Responses	6,142,979	0	6,142,979
Time Burden (Hours)	363,012	0	363,012
Cost Burden (Dollars)	0	0	0

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Abstract: Part 22 requires notifications, disclosures, and recordkeeping in connection with certain loans located in flood hazard ares. Borrowers use the information to make valid purchase decisions. The OCC uses the records to verify compliance. The OCC, FRB, FDIC, FCA, and NCUA have issued a proposed rule to amend their regulations regarding loans in areas having special flood hazards to implement the provisions of the Biggert-Waters Flood Insurance Reform Act of 2012. The proposal would establish requirements with respect to the escrow of flood insurance payments, the acceptance of private flood insurance coverage, and the force-placement of flood insurance.

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Authorizing Statute(s): US Code: 12 USC 4804 Name of Law: Riegle Community Development and Regulatory Improvement Act    US Code: 42 USC 4104(a) Name of Law: Riegle Community Development and Regulatory Improvement Act    US Code: 12 USC 4104a, 4104b Name of Law: National Flood Insurance Act of 1968    US Code: 12 USC 4012a, 4106(b) Name of Law: Flood Disaster Protection Act of 1973    US Code: 12 USC 1461 et seq. Name of Law: Home Owners Loan Act    PL: Pub.L. 112 - 141 100209 Name of Law: Biggerts-Waters Flood Insurance Reform Act of 2012

Citations for New Statutory Requirements: PL: Pub.L. 112 - 141 100209 Name of Law: Biggert-Waters Flood Insurance Reform Act of 2012

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
1557-AD67	Proposed rulemaking	78 FR 65108	10/30/2013

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Federal Register Notices & Comments

Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 9

IC Title Form No. Form Name Notice of Special Flood Hazards to Borrowers and Servicers Notice to Borrowers of Lapsed Mandated Flood Insurance Purchase Flood Insurance on the Borrower's Behalf Loans in Areas Having Special Flood Hazards Notice to FEMA of Servicer Notice to FEMA of Change in Servicer Retention of Standard FEMA Form Notice to Borrowers of Lapsed Mandated Flood Insurance Due to Remapping Purchase Flood Insurance on Borrower's Behalf Due to Remapping Escrow Requirement

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Burden increases because of Program Change due to Agency Discretion: Yes

Burden Increase Due to: Changing Regulations

Burden decreases because of Program Change due to Agency Discretion: No

Burden Reduction Due to:

Short Statement: The increase in burden is due to the availability of more accurate estimates regarding the current requirements and the addition of the new escrow requirement.

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Annual Cost to Federal Government: $0

Does this IC contain surveys, censuses, or employ statistical methods? No

Is the Supporting Statement intended to be a Privacy Impact Assessment required by the E-Government Act of 2002? No

Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]? No

Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]? No

Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)? No

Is this ICR related to the Pandemic Response? Uncollected

Agency Contact: Heidi Thomas 202 874-5090 [email protected]

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Common Form ICR:  No

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On behalf of this Federal agency, I certify that the collection of information encompassed by this request complies with 5 CFR 1320.9 and the related provisions of 5 CFR 1320.8(b)(3).
The following is a summary of the topics, regarding the proposed collection of information, that the certification covers:
		(a) It is necessary for the proper performance of agency functions;
		(b) It avoids unnecessary duplication;
		(c) It reduces burden on small entities;
		(d) It uses plain, coherent, and unambiguous language that is understandable to respondents;
		(e) Its implementation will be consistent and compatible with current reporting and recordkeeping practices;
		(f) It indicates the retention periods for recordkeeping requirements;
		(g) It informs respondents of the information called for under 5 CFR 1320.8 (b)(3) about:
			(i) Why the information is being collected;
			(ii) Use of information;
			(iii) Burden estimate;
			(iv) Nature of response (voluntary, required for a benefit, or mandatory);
			(v) Nature and extent of confidentiality; and
			(vi) Need to display currently valid OMB control number;
		(h) It was developed by an office that has planned and allocated resources for the efficient and effective management and use of the information to be collected.
		(i) It uses effective and efficient statistical survey methodology (if applicable); and
		(j) It makes appropriate use of information technology.
If you are unable to certify compliance with any of these provisions, identify the item by leaving the box unchecked and explain the reason in the Supporting Statement.
Certification Date: 10/30/2013

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