[Federal Register: October 24, 2005 (Volume 70, Number 204)]
[Notices]
[Page 61441-61442]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr24oc05-40]
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FEDERAL HOUSING FINANCE BOARD
[No. 2005-N-07]
Submission for OMB Review; 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) has
submitted the information collection entitled ``Advances to Housing
Associates'' to the Office of Management and Budget (OMB) for review
and approval of a 3 year extension of the OMB control number, 3069-
0005, which is due to expire on November 30, 2005.
DATES: Interested persons may submit comments on or before November 23,
2005.
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 Board, Washington DC 20503.
For Further Information or Copies of the Information Collection
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 15 hours. The estimate for the
annual hour burden for applicants is 15 hours (1 applicant x 1 response
per applicant x 15 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 1 hour. The estimate for the annual
hour burden for certified housing associates is 63 hours (63 certified
housing associates x 1 response per associate x 1 hour).
The estimate for the total annual hour burden is 78 hours (63
housing associates x 1 response per associate x 1.0 hours + 1 applicant
x 1 response per applicant x 15 hours).
C. Comment Request
In accordance with 5 CFR 1320.8(d), the Finance Board published a
request for public comments regarding this information collection in
the Federal Register on August 1, 2005. See 70 FR 44099 (August 1,
2005). The 60-day comment period closed on September 30, 2005. The
Finance Board received no public comments. Written comments are
requested on: (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
[[Page 61442]]
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: October 17, 2005.
By the Federal Housing Finance Board.
John P. Kennedy,
General Counsel.
[FR Doc. 05-21148 Filed 10-21-05; 8:45 am]
BILLING CODE 6725-01-P