[Federal Register Volume 78, Number 159 (Friday, August 16, 2013)]
[Notices]
[Pages 50116-50117]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2013-19970]


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

NATIONAL CREDIT UNION ADMINISTRATION


Agency Information Collection Activities: Submission to OMB for 
Reinstatement, With Change, of a Previously Approved Collection; 
Comment Request

AGENCY: National Credit Union Administration (NCUA).

ACTION: Request for comment.

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

SUMMARY: The NCUA intends to submit the following information 
collection to the Office of Management and Budget (OMB) for review and 
clearance under the Paperwork Reduction Act of 1995 (Pub. L. 104-13, 44 
U.S.C. Chapter 35). This information collection notice is published to 
obtain comments from the public. This collection of information is 
related to NCUA's regulation on nondiscrimination requirements in real 
estate-related lending.

DATES: Comments will be accepted until October 15, 2013.

ADDRESSES: Interested parties are invited to submit written comments to 
the NCUA Contact and the OMB Reviewer listed below:
    NCUA Contact: Tracy Crews, National Credit Union Administration, 
1775 Duke Street, Alexandria, Virginia 22314-3428, Fax No. 703-837-
2861, Email: [email protected].
    OMB Contact: Office of Management and Budget, ATTN: Desk Officer 
for the National Credit Union Administration, Office of Information and 
Regulatory Affairs, Washington, DC 20503.

FOR FURTHER INFORMATION CONTACT: Requests for additional information, a 
copy of the information collection request, or a copy of submitted 
comments should be directed to Tracy Crews at the National Credit Union 
Administration, 1775 Duke Street, Alexandria, VA 22314-3428, or at 
(703) 518-6444.

SUPPLEMENTARY INFORMATION: 

I. Abstract and Request for Comments

    NCUA is reinstating a previously approved collection of information 
for 12 CFR 701.31, Nondiscrimination Requirements in Real Estate-
Related Lending, Appraisals, and Advertising. Section 701.31 implements 
requirements of the Fair Housing Act, 42 U.S.C. 3601 et seq. It 
requires each Federal credit union (FCU) to maintain a copy of the real 
estate appraisal used to support an applicant's real estate-related 
loan application and to make it available to any requesting member/
applicant for a period of 25 months. It also requires an FCU using 
geographic factors in evaluating real estate-related loan applications 
to disclose such fact on the appraisal, along with a statement 
demonstrating the necessity of using such factors. The FCU retains the 
appraisal with the noted factors in its records to prove compliance 
with nondiscrimination statutes and regulations. The FCU's borrowers 
and NCUA use the information to determine whether the FCU discriminates 
against certain borrowers. This regulation ensures compliance with the 
Fair Housing Act anti-redlining requirements.
    The real estate appraisal is an integral part of most real estate-
related loan transactions. The appraisal, factors affecting the 
appraisal, and record retention are all routinely included in most real 
estate-related loan transactions as a usual and customary industry 
practice. Therefore, any cost in time for the FCU is minimal. NCUA 
estimates that the time required for this collection of information is 
approximately one hour per year for each FCU. As of July 2, 2013, there 
were 4,220 FCUs that could make real estate-related loans. 1 hour x 
4,220 respondents/recordkeepers = 4,220 total annual burden hours. NCUA 
does not believe that FCUs will incur any additional costs as a result 
of the recordkeeping requirement.
    NCUA requests that you send your comments on the information 
collection requirement under section 701.31 to the locations listed in 
the addresses section. Your comments should address: (a) The necessity 
of the information collection for the proper performance of NCUA, 
including whether the information will have practical utility; (b) the 
accuracy of our estimate of the burden (hours and cost) of the 
collection of information, including the validity of the methodology 
and assumptions used; (c) ways we could enhance the quality, utility, 
and clarity of the information to be collected; and (d) ways we could

[[Page 50117]]

minimize the burden of the collection of the information on the 
respondents such as through the use of automated collection techniques 
or other forms of information technology. It is NCUA's policy to make 
all comments available to the public for review.

II. Data

    Title: Nondiscrimination Requirements in Real Estate-Related 
Lending, Appraisals, and Advertising, 12 CFR 701.31.
    OMB Number: 3133-0068.
    Form Number: None.
    Type of Review: Reinstatement, with change, of a previously 
approved collection.
    Description: Section 701.31 is NCUA's regulation implementing 
requirements of the Fair Housing Act, 42 U.S.C. 3601 et seq. It 
requires each FCU to maintain a copy of the real estate appraisal used 
to support an applicant's real estate-related loan application and to 
make it available to any requesting member/applicant for a period of 25 
months. It also requires an FCU using geographic factors in evaluating 
real estate-related loan applications to disclose such fact on the 
appraisal, along with a statement demonstrating the necessity of using 
such factors. The FCU retains the appraisal with the noted factors in 
its records to prove compliance with nondiscrimination statutes and 
regulations. The FCU's borrowers and NCUA use the information to 
determine whether the FCU discriminates against certain borrowers. This 
regulation ensures compliance with the Fair Housing Act anti-redlining 
requirements.
    Respondents: Federal Credit Unions.
    Estimated No. of Respondents/Recordkeepers: 4,220.
    Frequency of Response: Recordkeeping on occasion.
    Estimated Burden Hours Per Response: 1 hour.
    Estimated Total Annual Burden Hours: 4,220 hours.
    Estimated Total Annual Cost: $0.

    By the National Credit Union Administration Board on August 13, 
2013.
Gerard Poliquin,
Secretary of the Board.
[FR Doc. 2013-19970 Filed 8-15-13; 8:45 am]
BILLING CODE 7535-01-P