[Federal Register Volume 67, Number 125 (Friday, June 28, 2002)]
[Notices]
[Pages 43602-43603]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 02-16320]


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FEDERAL HOUSING FINANCE BOARD

[No. 2002-N-6]


Proposed Collection; Comment Request

AGENCY: Federal Housing Finance Board.

ACTION: Notice.

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SUMMARY: In accordance with the requirements of the Paperwork Reduction 
Act of 1995, the Federal Housing Finance Board (Finance Board) is 
seeking public comments concerning a three-year extension by the Office 
of Management and Budget (OMB) of the previously approved information 
collection currently known as ``Advances to Housing Associates.'' The 
information collection formerly was titled ``Advances to Nonmember 
Mortgagees.''

DATES: Interested persons may submit comments on or before August 27, 
2002.

ADDRESSES: Address comments and requests for copies of the information 
collection to Elaine L. Baker, Secretary to the Board, by telephone at 
202/408-2837, by electronic mail at [email protected], or by regular mail 
at the Federal Housing Finance Board, 1777 F Street, NW., Washington, 
DC 20006.

FOR FURTHER INFORMATION CONTACT: Jonathan F. Curtis, Senior Financial 
Analyst, Market Research and System Analysis Division, Office of 
Policy, Research and Analysis, by telephone at 202/408-2866, by 
electronic mail at [email protected], or by regular mail at the Federal 
Housing Finance Board, 1777 F Street, NW., Washington, DC 20006.

SUPPLEMENTARY INFORMATION:

A. Need For and Use of the Information Collection

    Section 10b of the Federal Home Loan Bank Act (Bank Act) authorizes 
the Federal Home Loan Banks (FHLBanks) to make advances under certain 
circumstances to certified nonmember mortgagees.\1\ The Finance Board 
refers to nonmember mortgagees as housing associates. In order to be 
certified as a housing associate, an applicant must meet the 
eligibility requirements set forth in section 10b of the Bank Act. Part 
926 of the Finance Board regulations implements the statutory 
eligibility requirements and establishes uniform review criteria an 
applicant must meet in order to be certified as a housing associate by 
an FHLBank.\2\ More specifically, sections 926.3 and 926.4 of the rule 
implement the statutory eligibility requirements and provide guidance 
to an applicant on how it may satisfy such requirements.\3\ Section 
926.5 authorizes the FHLBanks to approve or deny all applications for 
certification as a housing associate, subject to the statutory and 
regulatory requirements.\4\ Section 926.6 permits an applicant to 
appeal an FHLBank decision to deny certification to the Finance 
Board.\5\
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    \1\ See 12 U.S.C. 1430b.
    \2\ See 12 CFR 926.1-926.6. Formerly codified at 12 CFR 935.22--
935.23. See 65 FR 8253, at 8256 (Feb. 18, 2000) and 65 FR 44414, at 
44424-25, 44426-28 (July 18, 2000).
    \3\ See 12 CFR 926.3-926.4. Formerly codified at 12 CFR 935.22. 
See 65 FR at 8256 and 65 FR at 44427.
    \4\ See 12 CFR 926.5. Formerly codified at 12 CFR 935.23(a). See 
65 FR at 8256 and 65 FR at 44427.
    \5\ See 12 CFR 926.6. Formerly codified at 12 CFR 935.23(c)(4). 
See 65 FR at 8256 and 65 FR at 44428.
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    Section 950.17 of the Finance Board regulations establishes the 
terms and conditions under which an FHLBank may make advances to a 
certified housing associate. Section 950.17 also imposes a continuing 
obligation on a housing associate to provide information necessary to 
determine if it remains in compliance with applicable statutory and 
regulatory requirements.\6\
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    \6\ See 12 CFR 950.17. Formerly codified at 12 CFR 935.24. See 
65 FR at 8256 and 65 FR at 444330-31.
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    The information collection contained in sections 926.1 through 
926.6 and section 950.17 of the Finance Board regulations is necessary 
to enable the FHLBanks to determine whether an applicant satisfies the 
statutory and regulatory requirements to be certified initially and 
maintain its status as a housing associate eligible to receive FHLBank 
advances. The Finance Board requires and uses the information 
collection to determine whether to uphold or overrule an FHLBank 
decision to deny housing associate certification to an applicant.
    The OMB number for the information collection is 3069-0005. The OMB 
clearance for the information collection expires on November 30, 2002.
    The likely respondents include applicants for housing associate

[[Page 43603]]

certification and current housing associates.

B. Burden Estimate

    The Finance Board estimates the total annual average number of 
applicants at five, with one response per applicant. The estimate for 
the average hours per application is ten hours. The estimate for the 
annual hour burden for applicants is 50 hours (5 applicants  x  1 
response per applicant  x  10 hours).
    The Finance Board estimates the total annual average number of 
maintenance respondents, that is, certified housing associates, at 57, 
with 1 response per housing associate. The estimate for the average 
hours per maintenance response is 0.5 hours. The estimate for the 
annual hour burden for certified housing associates is 28.5 hours (57 
certified housing associates  x  1 response per associate  x  0.5 
hours).
    The estimate for the total annual hour burden is 78.5 hours (57 
housing associates  x  1 response per associate  x  0.5 hours + 5 
applicants  x  1 response per applicant  x  10 hours).

C. Comment Request

    The Finance Board requests written comments on the following: (1) 
Whether the collection of information is necessary for the proper 
performance of Finance Board functions, including whether the 
information has practical utility; (2) the accuracy of the Finance 
Board estimates of the burdens of the collection of information; (3) 
ways to enhance the quality, utility and clarity of the information 
collected; and (4) ways to minimize the burden of the collection of 
information on applicants and housing associates, including through the 
use of automated collection techniques or other forms of information 
technology.

    By the Federal Housing Finance Board.

    Dated: June 24, 2002.
Arnold Intrater,
Acting General Counsel.
[FR Doc. 02-16320 Filed 6-27-02; 8:45 am]
BILLING CODE 6725-01-P