[Federal Register Volume 70, Number 146 (Monday, August 1, 2005)]
[Notices]
[Pages 44099-44100]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 05-15111]


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FEDERAL HOUSING FINANCE BOARD

[No. 2005-N-04]


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 the information collection known as 
``Advances to Housing Associates,'' which has been assigned control 
number 3069-0005 by the Office of Management and Budget (OMB). The 
Finance Board intends to submit the information collection to OMB for 
review and approval of a 3 year extension of the control number, which 
is due to expire on November 30, 2005.

DATES: Interested persons may submit comments on or before September 
30, 2005.
    Comments: Submit comments by any of the following methods:
    E-mail: [email protected].
    Fax: 202-408-2580.
    Mail/Hand Delivery: Federal Housing Finance Board, 1625 Eye Street, 
NW., Washington, PC 20006, ATTENTION: Public Comments.
    Federal eRulemaking Portal: http://www.regulations.gov. Follow the 
instructions for submitting comments. If you submit your comment to the 
Federal eRulemaking Portal, please also send it by e-mail to the 
Finance Board at [email protected] to ensure timely receipt by the 
agency.
    Include the following information in the subject line of your 
submission: Federal Housing Finance Board. Proposed Collection; Comment 
Request: Advances to Housing Associates. 2005-N-04.
    We will post all public comments we receive on this notice without 
change, including any personal information you provide, such as your 
name and address, on the Finance Board Web site at http://www.fhfb.gov/pressroom/pressroom_regs.htm.

FOR FURTHER INFORMATION CONTACT: Jonathan F. Curtis, Examinations 
Specialist, Office of Supervision, by telephone at 202-408-2866, by 
electronic mail at [email protected], or by regular mail at the Federal 
Housing Finance Board, 1625 Eye 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) (12 U.S.C. 
1430b) authorizes the Federal Home Loan Banks (FHLBanks) to make 
advances under certain circumstances to certified nonmember mortgagees. 
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 (12 CFR part 926) 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. More specifically, sections 926.3 and 926.4 
(12 CFR 926.3-926.4) implement the statutory eligibility requirements 
and provide guidance to an applicant on how it may satisfy such 
requirements. Section 926.5 (12 CFR 926.5) authorizes the FHLBanks to 
approve or deny all applications for certification as a housing 
associate, subject to the statutory and regulatory requirements. 
Section 926.6 (12 CFR 926.6) permits an applicant to appeal an FHLBank 
decision to deny certification to the Finance Board.
    Section 950.17 of the Finance Board regulations (12 CFR 950.17) 
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.
    The information collection contained in sections 926.1 through 
926.6 and section 950.17 of the Finance Board regulations (12 CFR 
926.1-926.6 and 950.17) 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 control number for the information collection, which 
expires on November 30, 2005, is 3069-0005. The likely respondents 
include applicants for housing associate certification and current 
housing associates.

B. Burden Estimate

    The Finance Board estimates the total annual average number of 
applicants at one, with one response per applicant. The estimate for 
the average hours per application is 10 hours. The estimate for the 
annual hour burden for applicants is 10 hours (1 applicant 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 63, 
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 31.5 hours (63 
certified housing associates x 1 response per associate x 0.5 hours).
    The estimate for the total annual hour burden is 41.5 hours (63 
housing associates x 1 response per associate x

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0.5 hours + 1 applicant 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.

    Date: July 21, 2005.

    By the Federal Housing Finance Board.
John P. Kennedy,
General Counsel.
[FR Doc. 05-15111 Filed 7-29-05; 12:45 pm]
BILLING CODE 6725-01-U