Loans in Areas Having Special Flood Hazards

OMB Control No: 3064-0207	ICR Reference No: 202201-3064-009
Status: Received in OIRA	Previous ICR Reference No: 201903-3064-003
Agency/Subagency: FDIC	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	Date Submitted to OIRA: 05/31/2022

	Requested	Previously Approved
Expiration Date	36 Months From Approved	05/31/2022
Responses	1,396,582	2,110,185
Time Burden (Hours)	117,613	527,547
Cost Burden (Dollars)	0	0

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Abstract: Each supervised lending institution is required to provide a notice of special flood hazards to a borrower acquiring a loan secured by a building on real property located in an area identified by FEMA as subject to special flood hazards, and various other notices to borrowers, servicers and FEMA.. The Riegle Community Development Act requires that each institution also provide a copy of the notice to the servicer of the loan (if different from the originating lender). Section 100239 of the Biggert-Waters Flood Insurance Reform Act of 2012 requires each federal banking agency (including the FDIC), and the Farm Credit Administration, to adopt implementing regulations to direct regulated lending institutions to accept “private flood insurance,” as defined by the Biggert-Waters Act. A lending institution would be required to implement policies and procedures to comply with the Biggert-Waters Act provision and verify in writing that a private insurance policy satisfies the criteria included in the definition or document findings that separate required criteria have been met when accepting a private flood insurance policy in satisfaction of the mandatory flood insurance purchase requirement of the Flood Disaster Protection Act. The institution must also maintain records to permit examination staff to ascertain how the institution has met the requirements of the regulation.

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Authorizing Statute(s): US Code: 42 USC 4001 - 4129 Name of Law: National Flood Insurance Act of 1968    US Code: 12 USC 1462a Name of Law: Home Owners' Loan Act    US Code: 12 USC 1463 Name of Law: Home Owners' Loan Act    US Code: 12 USC 1464 Name of Law: Home Owners' Loan Act    US Code: 12 USC 1819 (Tenth) Name of Law: Federal Deposit Insurance Act    US Code: 12 USC 5412(b)(2)(c) Name of Law: Dodd-Frank Wall Street Reform and Consumer Protection Act

Citations for New Statutory Requirements: PL: Pub.L. 112 - 141 100239 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:
	Not associated with rulemaking

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Federal Register Notices & Comments
60-day Notice:	Federal Register Citation:	Citation Date:
	87 FR 21123	04/11/2022
30-day Notice:	Federal Register Citation:	Citation Date:
	87 FR 32415	05/31/2022
Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 11

IC Title Form No. Form Name Change in status Disclosure to the Borrowser Disclosure to the Servicer Documenting Conclusions About Private Flood Insurance Policies Notice of option to escrow flood insurance payments and fees Notice of requirement to escrow flood insurance payments and fees Notice of special flood hazards and availability of Federal disaster relief assistance Notice to Administrator of FEMA of a change in loan servicer Notice to Administrator of FEMA of servicer's identity Notice to borrower to purchase flood insurance Notification to terminate flood insurance purchased on behalf of a borrower Private Flood Insurance Recordkeeping (Notifications) Report to FEMA of a Change in Servicer Retention of notice of special flood hazards and availability of Federal disaster relief assistance Standard Flood Hazard Determination

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ICR Summary of Burden

	Total Request	Previously Approved	Change Due to New Statute	Change Due to Agency Discretion	Change Due to Adjustment in Estimate	Change Due to Potential Violation of the PRA
Annual Number of Responses	1,396,582	2,110,185	0	60	-713,663	0
Annual Time Burden (Hours)	117,613	527,547	0	0	-409,934	0
Annual Cost Burden (Dollars)	0	0	0	0	0	0

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

Burden Increase Due to:

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

Burden Reduction Due to:

Short Statement:

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Annual Cost to Federal Government: $0

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

Does this ICR request any personally identifiable information (see OMB Circular No. A-130 for an explanation of this term)? Please consult with your agency's privacy program when making this determination.     No

Does this ICR include a form that requires a Privacy Act Statement (see 5 U.S.C. §552a(e)(3))? Please consult with your agency's privacy program when making this determination.     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]? Yes

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

Is this ICR related to the Pandemic Response? No

Agency Contact: Manuel Cabeza 202 898-3781 [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: 05/31/2022

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