[Federal Register: August 1, 2005 (Volume 70, Number 146)]
[Notices]
[Page 44099-44100]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr01au05-41]
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FEDERAL HOUSING FINANCE BOARD
[No. 2005-N-04]
Proposed Collection; Comment Request
AGENCY: Federal Housing Finance Board.
ACTION: Notice.
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SUMMARY: In accordance with the requirements of the Paperwork Reduction
Act of 1995, the Federal Housing Finance Board (Finance Board) is
seeking public comments concerning the information collection known as
``Advances to Housing Associates,'' which has been assigned control
number 3069-0005 by the Office of Management and Budget (OMB). The
Finance Board intends to submit the information collection to OMB for
review and approval of a 3 year extension of the control number, which
is due to expire on November 30, 2005.
DATES: Interested persons may submit comments on or before September
30, 2005.
Comments: Submit comments by any of the following methods:
E-mail: comments@fhfb.gov.
Fax: 202-408-2580.
Mail/Hand Delivery: Federal Housing Finance Board, 1625 Eye Street,
NW., Washington, PC 20006, ATTENTION: Public Comments.
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 e-mail to the
Finance Board at comments@fhfb.gov to ensure timely receipt by the
agency.
Include the following information in the subject line of your
submission: Federal Housing Finance Board. Proposed Collection; Comment
Request: Advances to Housing Associates. 2005-N-04.
We will post all public comments we receive on this notice without
change, including any personal information you provide, such as your
name and address, on the Finance Board Web site at http://www.fhfb.gov/pressroom
/pressroom--regs.htm.
FOR FURTHER INFORMATION CONTACT: Jonathan F. Curtis, Examinations
Specialist, Office of Supervision, by telephone at 202-408-2866, by
electronic mail at curtisj@fhfb.gov, 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 10 hours. The estimate for the
annual hour burden for applicants is 10 hours (1 applicant x 1 response
per applicant x 10 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 0.5 hours. The estimate for the
annual hour burden for certified housing associates is 31.5 hours (63
certified housing associates x 1 response per associate x 0.5 hours).
The estimate for the total annual hour burden is 41.5 hours (63
housing associates x 1 response per associate x
[[Page 44100]]
0.5 hours + 1 applicant x 1 response per applicant x 10 hours).
C. Comment Request
The Finance Board requests written comments on the following: (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 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.
Date: July 21, 2005.
By the Federal Housing Finance Board.
John P. Kennedy,
General Counsel.
[FR Doc. 05-15111 Filed 7-29-05; 12:45 pm]
BILLING CODE 6725-01-U