[Federal Register Volume 70, Number 204 (Monday, October 24, 2005)]
[Notices]
[Pages 61441-61442]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 05-21148]


=======================================================================
-----------------------------------------------------------------------

FEDERAL HOUSING FINANCE BOARD

[No. 2005-N-07]


Submission for OMB Review; Comment Request

AGENCY: Federal Housing Finance Board.

ACTION: Notice.

-----------------------------------------------------------------------

SUMMARY: In accordance with the requirements of the Paperwork Reduction 
Act of 1995, the Federal Housing Finance Board (Finance Board) has 
submitted the information collection entitled ``Advances to Housing 
Associates'' to the Office of Management and Budget (OMB) for review 
and approval of a 3 year extension of the OMB control number, 3069-
0005, which is due to expire on November 30, 2005.

DATES: Interested persons may submit comments on or before November 23, 
2005.

ADDRESSES: Submit comments to the Office of Information and Regulatory 
Affairs of the Office of Management and Budget, Attention: Desk Officer 
for the Federal Housing Finance Board, Washington DC 20503.

For Further Information or Copies of the Information Collection 
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 15 hours. The estimate for the 
annual hour burden for applicants is 15 hours (1 applicant x 1 response 
per applicant x 15 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 1 hour. The estimate for the annual 
hour burden for certified housing associates is 63 hours (63 certified 
housing associates x 1 response per associate x 1 hour).
    The estimate for the total annual hour burden is 78 hours (63 
housing associates x 1 response per associate x 1.0 hours + 1 applicant 
x 1 response per applicant x 15 hours).

C. Comment Request

    In accordance with 5 CFR 1320.8(d), the Finance Board published a 
request for public comments regarding this information collection in 
the Federal Register on August 1, 2005. See 70 FR 44099 (August 1, 
2005). The 60-day comment period closed on September 30, 2005. The 
Finance Board received no public comments. Written comments are 
requested on: (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

[[Page 61442]]

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. Comments may be submitted to OMB in 
writing at the address listed above.

    Dated: October 17, 2005.

    By the Federal Housing Finance Board.
John P. Kennedy,
General Counsel.
[FR Doc. 05-21148 Filed 10-21-05; 8:45 am]
BILLING CODE 6725-01-P