[Federal Register Volume 78, Number 160 (Monday, August 19, 2013)]
[Notices]
[Pages 50492-50493]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2013-19878]


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DEPARTMENT OF THE TREASURY

Office of the Comptroller of the Currency


Agency Information Collection Activities: Information Collection 
Renewal; Submission for OMB Review; Real Estate Lending and Appraisals

AGENCY: Office of the Comptroller of the Currency (OCC), Treasury.

ACTION: Notice and request for comment.

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SUMMARY: In accordance with the requirements of the Paperwork Reduction 
Act of 1995 (PRA), the OCC may not conduct or sponsor, and the 
respondent is not required to respond to, an information collection 
unless it displays a currently valid Office of Management and Budget 
(OMB) control number.
    The OCC is seeking renewal of the control number for its 
information collection titled, ``Real Estate Lending and Appraisals.'' 
The OCC also is giving notice that it has sent the collection to OMB 
for review.

DATES: Comments must be received by September 18, 2013.

ADDRESSES: Because paper mail in the Washington, DC area and at the OCC 
is subject to delay, commenters are encouraged to submit comments by 
email if possible. Comments may be sent to: Legislative and Regulatory 
Activities Division, Office of the Comptroller of the Currency, 
Attention: 1557-0190, 400 7th Street SW., Suite 3E-218, Mail Stop 9W-
11, Washington, DC 20219. In addition, comments may be sent by fax to 
(571) 465-4326 or by electronic mail to [email protected]. 
You may personally inspect and photocopy comments at the OCC, 400 7th 
Street, SW., Washington, DC 20219. For security reasons, the OCC 
requires that visitors make an

[[Page 50493]]

appointment to inspect comments. You may do so by calling (202) 649-
6700. Upon arrival, visitors will be required to present valid 
government-issued photo identification and to submit to security 
screening in order to inspect and photocopy comments.
    All comments received, including attachments and other supporting 
materials, are part of the public record and subject to public 
disclosure. Do not enclose any information in your comment or 
supporting materials that you consider confidential or inappropriate 
for public disclosure.
    Additionally, please send a copy of your comments by mail to: OCC 
Desk Officer, 1557-0190, U.S. Office of Management and Budget, 725 17th 
Street NW., 10235, Washington, DC 20503, or by email to: oira 
[email protected].

FOR FURTHER INFORMATION CONTACT: You may request additional information 
of the collection from Johnny Vilela or Mary H. Gottlieb, OCC Clearance 
Officers, (202) 649-5490, Legislative and Regulatory Activities 
Division, Office of the Comptroller of the Currency, 400 7th Street 
SW., Suite 3E-218, Mail Stop 9W-11, Washington, DC 20219.

SUPPLEMENTARY INFORMATION: In compliance with 44 U.S.C. 3507, the OCC 
has submitted the following request for renewal of a collection of 
information to OMB for review and clearance:
    Title: Real Estate Lending and Appraisals (12 CFR 34, 160, 164, 
190). OMB Control No.: 1557-0190.
    Type of Review: Extension, without revision, of a currently 
approved collection.
    Description: Twelve CFR parts 34 and 160 contain a number of 
reporting and recordkeeping requirements. Twelve CFR part 34, subpart B 
(Adjustable-Rate Mortgages (ARM)), subpart E (Other Real Estate Owned 
(OREO)), and part 160 (Lending and Investment) contain reporting 
requirements. Twelve CFR part 34, subpart C (Appraisal Requirements), 
subpart D (Real Estate Lending Standards), and parts 160 and 164 
(Appraisals) contain recordkeeping requirements. Twelve CFR 190.4(h) 
contains a disclosure requirement concerning Federally-related 
residential manufactured housing loans.
    Twelve CFR part 34, subpart B, Sec.  34.22(a) requires that for ARM 
loans, the loan documentation must specify the index or combination of 
indices to which changes in the interest rate will be linked. Sections 
34.22(b) and 160.35(d)(3) provide the notice procedures to be used when 
seeking to use an alternative index.
    Twelve CFR 34.44 and 164.4 set forth the minimum standards for the 
performance of real estate appraisals, including the requirement that 
appraisals be in writing and contain sufficient information and 
analysis to support the institution's decision to engage in the 
transaction.
    Twelve CFR 34.62, 160.101 and the related appendices require each 
institution to adopt and maintain written policies that establish 
appropriate limits and standards for extensions of credit that are 
secured by liens on or interests in real estate, or that are made for 
the purpose of financing permanent improvements to real estate. The 
institution's board of directors must review and approve the 
institution's real estate lending policies at least annually.
    Twelve CFR 34.84 requires that, after holding any real estate 
acquired for future bank expansion for one year, a national bank must 
state, by resolution or other official action, its plans for the use of 
the property and make the resolution or other action available for 
inspection by examiners. Sections 34.85 and 160.172 require national 
banks and Federal savings associations to develop prudent real estate 
collateral evaluation policies to monitor the value of each parcel of 
OREO in a manner consistent with prudent banking practice. Section 
34.86 requires national banks to notify the appropriate supervisory 
office at least 30 days before making advances under a development or 
improvement plan for OREO if the total investment in the property will 
exceed 10 percent of the bank's capital and surplus.
    Twelve CFR 190.4(h) requires that for Federally-related residential 
manufactured housing loans, a creditor must send the debtor a notice of 
default at least 30 days prior to any repossession, foreclosure, or 
acceleration of payments.
    Affected Public: Businesses or other for-profit.
    Frequency of Response: On occasion.
    Burden Estimates:
    Estimated Number of Respondents: 1,276 national banks and 532 
Federal savings associations.
    Estimated Annual Burden: 120,428 burden hours.
    Comments: The OCC published a 60-day Federal Register Notice on 
June 10, 2013 (78 FR 34707). No comments were received. Comments 
continue to be invited on:
    (a) Whether the collection of information is necessary for the 
proper performance of the functions of the OCC, including whether the 
information has practical utility;
    (b) The accuracy of the OCC's estimate of the information 
collection burden;
    (c) Ways to enhance the quality, utility, and clarity of the 
information to be collected;
    (d) Ways to minimize the burden of the collection on respondents, 
including through the use of automated collection techniques or other 
forms of information technology; and
    (e) Estimates of capital or start-up costs and costs of operation, 
maintenance, and purchase of services to provide information.

    Dated: August 12, 2013.
Michele Meyer,
Assistant Director, Legislative and Regulatory Activities Division.
[FR Doc. 2013-19878 Filed 8-16-13; 8:45 am]
BILLING CODE 4810-33-P