[Federal Register Volume 63, Number 167 (Friday, August 28, 1998)]
[Notices]
[Pages 46020-46021]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 98-23174]


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FEDERAL EMERGENCY MANAGEMENT AGENCY


Agency Information Collection Activities: Submission for OMB 
Review; Comment Request

ACTION: Notice and request for comments.

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SUMMARY: The Federal Emergency Management Agency has submitted the 
following proposed information collection to the Office of Management 
and Budget for review and clearance in accordance with the requirements 
of the Paperwork Reduction Act of 1995 (44 U.S.C. 3507).

    Title: Standard Flood Hazard Determination form.
    Type of Information Collection: This form is completed by federally 
regulated lending institutions when making, increasing, extending, 
renewing or purchasing each loan for the purpose of documenting the 
factors considered as to whether flood insurance is required and 
available. FEMA does not collect this information from the lenders.
    OMB Number: 3067-0264.
    Abstract: On September 23, 1994, President Clinton signed the 
Riegle Community Development and Regulatory Improvement Act of 1994. 
Title V of this Act is the National Flood Insurance Reform Act (NFIRA). 
Section 528 of the NFIRA required the development of a standard form 
for determining whether a structure is located within an identified 
Special Flood Hazard Area and whether flood insurance is available. 
Section 528 of the NFIRA also required the use of this form by 
regulated lending institutions, federal agency lenders, the Federal 
National Mortgage Association, the Federal Home Loan Mortgage 
Corporation, and the Government National Mortgage Association, for any 
loan made, increased, extended, renewed, or purchased by these 
entities. FEMA, in consultation with the Federal entities for lending 
regulation, developed this form in 1995. On July 6, 1995, FEMA 
published a final rule in the Federal Register, establishing the form. 
The Federal entities for lending regulation published their final rule 
requiring the use of the form on July 6, 1995. Use of the form became 
mandatory on January 2, 1996.
    Affected Public: This form is completed by federally regulated 
lending institutions when making, increasing, extending, renewing or

[[Page 46021]]

purchasing each loan for the purpose of documenting the factors 
considered as to whether flood insurance is required and available.
    Number of Respondents: An estimated 12,000,000 affected loan 
applications are processed each year.
    Estimated Time per Respondent: The estimated burden time for 
completing the form is 20 minutes per respondent.
    Estimated Total Annual Burden Hours: An estimated 12,000,000 loan 
transactions multiplied by 0.33 hour per form, results in an estimated 
annual burden of approximately 4,000,000 hours.
    Frequency of Response: The form is required of federally regulated 
lending institutions when making, increasing, extending, renewing or 
purchasing any loan secured by improved real estate.

COMMENTS: Interested persons are invited to submit written comments on 
the proposed information collection to Victoria Wassmer, Desk Officer 
for the Federal Emergency Management Agency, Office of Information and 
Regulatory Affairs, Office of Management and Budget, Washington, DC 
20503 within 30 days of the date of this notice.

FOR FURTHER INFORMATION CONTACT: Requests for additional information or 
copies of the information collection should be made to Muriel B. 
Anderson, FEMA Information Collections Officer, Federal Emergency 
Management Agency, 500 C Street, SW, Room 316, Washington, DC 20472. 
Telephone number (202) 646-2625. FAX number (202) 646-3524.

    Dated: August 21, 1998.
Muriel B. Anderson,
Acting Director, Program Services Division, Operations Support 
Directorate.
[FR Doc. 98-23174 Filed 8-27-98; 8:45 am]
BILLING CODE 6718-01-P