[Federal Register Volume 77, Number 132 (Tuesday, July 10, 2012)]
[Notices]
[Pages 40613-40614]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2012-16729]


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FEDERAL HOUSING FINANCE AGENCY

[No. 2012-N-07]


Submission for OMB Review; Comment Request

AGENCY: Federal Housing Finance Agency.

ACTION: 30-Day notice of submission of information collection for 
approval from the 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 submitting 
the information collection entitled ``Advances to Housing Associates'' 
to the Office of Management and Budget (OMB) for review and approval of 
a three year extension of OMB control number 2590-0001, which is due to 
expire on July 31, 2012.

DATES: Interested persons may submit comments on or before August 9, 
2012.

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 Agency, Washington, DC 20503.
    For Further Information or Copies of the Information Collection 
Contact: Jonathan F. Curtis, Financial Analyst, Division of Federal 
Home Loan Bank Regulation, by telephone at (202) 649-3321, by 
electronic mail at [email protected], or by regular mail at the 
Federal Housing Finance Agency, Eighth Floor, 400 Seventh Street SW., 
Washington, DC 20024. The telephone number for 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) 
establishes the requirements for making Federal Home Loan Bank (Bank) 
advances to nonmember mortgagees, which are referred to as ``housing 
associates'' in the regulations of the Federal Housing Finance Agency 
(FHFA).\1\ Section 10b also establishes the eligibility requirements an 
applicant must meet in order to be certified as a housing associate.
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    \1\ See 12 U.S.C. 1430b; 12 CFR 1264.3.
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    Part 1264 of FHFA's regulations implements the statutory 
eligibility requirements and establishes uniform review criteria the 
Banks must use in evaluating applications from entities that wish to be 
certified as a housing associate. Specifically, section 1264.4 
implements the statutory eligibility requirements and provides 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\ It also permits an applicant to appeal a 
Bank's decision to deny certification to FHFA.
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    \2\ See 12 CFR 1264.4.
    \3\ See 12 CFR 1264.5.
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    In part 1266 of FHFA's regulations, subpart B governs Bank advances 
to housing associates that have been approved under part 1264. Section 
1266.17 establishes the terms and conditions under which a Bank may 
make advances to housing associates.\4\ Specifically, section 
1266.17(e) imposes a continuing obligation on a certified housing 
associate to provide information necessary to determine if it remains 
in compliance with applicable statutory and regulatory requirements, as 
set forth in part 1264.\5\
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    \4\ See 12 CFR 1266.17.
    \5\ In 2010, FHFA transferred the regulations governing housing 
associates from part 926 of the regulations of the Federal Housing 
Finance Board, the former regulator of the Banks, to part 1264 of 
FHFA's regulations, and transferred the regulations governing Bank 
advances from part 950 of the Finance Board's regulations to part 
1266 of FHFA's regulations. In both cases the regulations were 
transferred without substantive or material changes. See 75 FR 8239 
(Feb. 24, 2010); 75 FR 76622 (Dec. 9, 2010).
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    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 14 hours. The estimate for the annual hour 
burden for applicants is 14 hours (1 applicant x 1 response per 
applicant x 14 hours).
    FHFA estimates the total annual average number of maintenance 
respondents--that is, current housing associates--at 68, with 1 
response per

[[Page 40614]]

housing associate. The estimate for the average hours per maintenance 
response is 4 hours. The estimate for the annual hour burden for 
current housing associates is 272 hours (68 certified housing 
associates x 1 response per associate x 4 hours).
    The estimate for the total annual hour burden is 286 hours (14 
hours + 272 hours).

C. Comment Request

    In accordance with 5 CFR 1320.8(d), FHFA published a request for 
public comments regarding this information collection in the Federal 
Register on April 13, 2012.\6\ The 60-day comment period closed on June 
12, 2012. FHFA received no public comments.
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    \6\ See 77 FR 22316 (April 13, 2012).
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    Written comments are requested on: (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 the FHFA 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. Comments may be submitted to OMB in 
writing at the address listed above.

    Dated: June 29, 2012.
Kevin Winkler,
Chief Information Officer, Federal Housing Finance Agency.
[FR Doc. 2012-16729 Filed 7-9-12; 8:45 am]
BILLING CODE 8070-01-P