Reverse Mortgage Products - Guidance for Managing Reputation Risks
Revision of a currently approved collection
No
Regular
04/21/2022
Requested
Previously Approved
36 Months From Approved
07/31/2022
13
16
136
160
0
0
The guidance assists institutions in managing the compliance and reputation risks associated with reverse mortgages. It ensures that institutions' risk management and consumer protection practices adequately address the compliance and reputation risks raised by reverse mortgage lending.
The decrease in burden is due to the decrease in the size of the industry.
No
No
No
No
No
No
No
Nancy Worth 202 649-6223
No
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:
(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;
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.
1557-0246 Supporting Statement Reverse Mortgage Guidance 4-14-22 1112AM.docx
Program Maintenance