[Federal Register Volume 77, Number 72 (Friday, April 13, 2012)]
[Notices]
[Pages 22316-22317]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2012-8871]


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FEDERAL HOUSING FINANCE AGENCY

[No. 2012-N-04]


Proposed Collection; Comment Request

AGENCY: Federal Housing Finance Agency.

ACTION: 60-Day notice of submission of information collection for 
approval from Office of Management and Budget.

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SUMMARY: In accordance with the requirements of the Paperwork Reduction 
Act of 1995, the Federal Housing Finance Agency (FHFA) is seeking 
public comments concerning the information collection known as 
``Advances to Housing Associates,'' which has been assigned control 
number 2590-0001 by the Office of

[[Page 22317]]

Management and Budget (OMB). FHFA intends to submit the information 
collection to OMB for review and approval of a three-year extension of 
the control number, which is due to expire on July 31, 2012.

DATES: Interested persons may submit comments on or before June 12, 
2012.

ADDRESSES: Submit comments to the FHFA using any one of the following 
methods:
     Email: [email protected]. Please include Proposed 
Collection; Comment Request: Comment Request: ``Advances to Housing 
Associates, (No. 2012-N-04)'' in the subject line of the message.
     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 
email to FHFA at [email protected] to ensure timely receipt by the 
agency.
     Mail/Hand Delivery: Federal Housing Finance Agency, Eighth 
Floor, 400 Seventh Street SW., Washington, DC 20024, ATTENTION: Public 
Comments/Proposed Collection; Comment Request: ``Advances to Housing 
Associates, (No. 2012-N-04)''. The package should be logged at the 
Seventh Street entrance Guard Desk, First Floor, on business days 
between 9 a.m. and 5 p.m.
    We will post all public comments we receive without change, 
including any personal information you provide, such as your name, 
phone number, and address, on the FHFA Web site at http://www.fhfa.gov. 
In addition, copies of all comments received will be available for 
examination by the public on business days between the hours of 10 a.m. 
and 3 p.m., at the Federal Housing Finance Agency, Eighth Floor, 400 
Seventh Street SW., Washington, DC 20024. To make an appointment to 
inspect comments, please call the Office of General Counsel at (202) 
649-3804.

FOR FURTHER INFORMATION CONTACT: Jonathan F. Curtis, Financial Analyst, 
by email at [email protected], by telephone at (202) 649-3321, 
or Eric M. Raudenbush, Assistant General Counsel, 
[email protected], (202) 649-3084, (these are not toll-free 
numbers), Federal Housing Finance Agency, 400 Seventh Street SW., 
Washington DC 20024. The Telecommunications Device for the Hearing 
Impaired is (800) 877-8339.

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 (Banks) to make advances 
under certain circumstances to certified nonmember mortgagees. FHFA 
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 
1264 of FHFA's 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 a Bank.\1\ More 
specifically, Sec. Sec.  1264.3 and 1264.4 (12 CFR 1264.3-1264.4) 
implement the statutory eligibility requirements and provide guidance 
to an applicant on how it may satisfy those requirements.\2\ Section 
1264.5 authorizes the Banks to approve or deny all applications for 
certification as a housing associate, subject to the statutory and 
regulatory requirements.\3\ Section 1264.6 permits an applicant to 
appeal a Bank decision to deny certification to the FHFA.\4\
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    \1\ See 12 CFR part 1264.
    \2\ See 12 CFR 1264.3, .4.
    \3\ See 12 CFR 1264.5.
    \4\ See 12 CFR 1264.6.
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    Section 1266.17 of FHFA's regulations establishes the terms and 
conditions under which a Bank may make advances to an housing associate 
and also imposes a continuing obligation on each housing associate to 
provide information necessary to determine if it remains in compliance 
with applicable statutory and regulatory requirements.\5\
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    \5\ See 12 CFR 1266.17.
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    The information collection contained in Sec. Sec.  1266.1 through 
1266.6 and Sec.  1266.17 of the regulations is necessary to enable the 
Banks 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 Bank advances. The 
FHFA requires and uses the information collection to determine whether 
to uphold or overrule a Bank decision to deny housing associate 
certification to an applicant.
    The OMB control number for the information collection, which 
expires on July 31, 2012, is 2590-0001. The likely respondents include 
applicants for housing associate certification and current housing 
associates.

B. Burden Estimate

    FHFA 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).
    FHFA estimates the total annual average number of maintenance 
respondents--that is, current housing associates--at 68, with 1 
response per housing associate. The estimate for the average hours per 
maintenance response is one hour. The estimate for the annual hour 
burden for current housing associates is 68 hours (68 certified housing 
associates x 1 response per associate x 1 hour).
    The estimate for the total annual hour burden is 83 hours (68 
housing associates x 1 response per associate x 1 hour + 1 applicant x 
1 response per applicant x 15 hours).

C. Comment Request

    FHFA requests written comments on the following: (1) Whether the 
collection of information is necessary for the proper performance of 
FHFA functions, including whether the information has practical 
utility; (2) The accuracy of FHFA's 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.

    Dated: April 9, 2012.
Edward J. DeMarco,
Acting Director, Federal Housing Finance Agency.
[FR Doc. 2012-8871 Filed 4-12-12; 8:45 am]
BILLING CODE 8070-01-P