[Federal Register Volume 75, Number 86 (Wednesday, May 5, 2010)]
[Notices]
[Pages 24726-24727]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2010-10527]
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DEPARTMENT OF HOMELAND SECURITY
Federal Emergency Management Agency
[Docket ID: FEMA-2010-0015]
Agency Information Collection Activities: Proposed Collection;
Comment Request, 1660-0086; National Flood Insurance Program--Mortgage
Portfolio Protection Program (MPPP)
AGENCY: Federal Emergency Management Agency, DHS.
ACTION: Notice; 60-day notice and request for comments; revision of a
currently approved information collection; OMB No. 1660-0086; No Form.
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SUMMARY: The Federal Emergency Management Agency, as part of its
continuing effort to reduce paperwork and respondent burden, invites
the general public and other Federal agencies to take this opportunity
to comment on a proposed revision of a currently approved information
collection. In accordance with the Paperwork Reduction Act of 1995,
this Notice seeks comments concerning the Mortgage Portfolio Protection
Program, which assists the mortgage lending and servicing industries
bring their mortgage portfolios into compliance with Federal flood
insurance requirements.
DATES: Comments must be submitted on or before July 6, 2010.
ADDRESSES: To avoid duplicate submissions to the docket, please use
only one of the following means to submit comments:
(1) Online. Submit comments at http://www.regulations.gov under
Docket ID FEMA-2010-0015. Follow the instructions for submitting
comments.
(2) Mail. Submit written comments to Office of Chief Counsel,
Regulation and Policy Team, DHS/FEMA, 500 C Street, SW., Room 835,
Washington, DC 20472-3100.
(3) Facsimile. Submit comments to (703) 483-2999.
(4) E-mail. Submit comments to [email protected]. Include Docket
ID FEMA-2010-0015 in the subject line.
All submissions received must include the agency name and Docket
ID. Regardless of the method used for submitting comments or material,
all submissions will be posted, without change, to the Federal
eRulemaking Portal at http://www.regulations.gov, and will include any
personal information you provide. Therefore, submitting this
information makes it public. You may wish to read the Privacy Act
notice that is available via the Notice link in the footer of http://www.regulations.gov.
FOR FURTHER INFORMATION CONTACT: Contact Susan Bernstein, Program
Analyst, FEMA Mitigation Division, (202) 212-2113 for additional
information. You may contact the Records Management Division for copies
of the proposed collection of
[[Page 24727]]
information at facsimile number (202) 646-3347 or e-mail address: [email protected].
SUPPLEMENTARY INFORMATION: The National Flood Insurance Program (NFIP)
is authorized in Public Law 90-448 (1968) and expanded by Public Law
93-234 (1973), and is codified as 42 U.S.C. 4001, et seq. Public Law
103-325 (1994) expands upon this and provides federally supported flood
insurance for existing buildings exposed to flood risk. In accordance
with Public Law 93-234, the purchase of flood insurance is mandatory
when Federal or federally related financial assistance is being
provided for acquisition of flood hazard areas of communities that are
participating in the program. The Mortgage Portfolio Protection program
(MPPP) is an option that companies participating in the NFIP can use to
bring their mortgage loan portfolios into compliance with the flood
insurance purchase requirements of the three public laws described
previously. Title 44 CFR 62.23(l)(1), with 44 CFR Appendix A to Part 62
implements the MPPP requirements for specific notices and other
procedures that must be adhered to. Title 44 CFR 62.23(l)(2) indicates
that Write-Your-Own (WYO) Companies participating in the MPPP must
provide a detailed implementation package, known as the Mortgage
Portfolio Protection Program Agreement, to any lending institutions
that are requesting insurance coverage and the lender must acknowledge
receipt.
Collection of Information
Title: National Flood Insurance Program--Mortgage Portfolio
Protection Program (MPPP).
Type of Information Collection: Revision of a currently approved
information collection.
OMB Number: 1660-0086.
Form Titles and Numbers: No Form.
Abstract: A WYO Company that wishes to participate in the MPPP must
review the information listed in the Mortgage Portfolio Protection
Program Agreement and complete the acknowledgement either agreeing to
participate in the MPPP or electing to continue under just the WYO
guidelines. This acknowledgment is used to determine which WYO
Companies will be writing insurance under the Mortgage Portfolio
Protection Program and which ones choose only to sell flood insurance
through the regular WYO Program. A lender wishing to obtain flood
insurance through an MPPP participating insurance company must review
the Financial Assistance/Subsidy Arrangement and acknowledge the terms
by signing the notice of acceptance provided with the Arrangement. This
acceptance is used to verify that the lender understands the terms of
the agreement so that they can properly apply for flood insurance.
Affected Public: Business or other for-profit.
Estimated Total Annual Burden Hours: 170.5 Hours.
Table A.12--Estimated Annualized Burden Hours and Costs
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Total
Form name/form Number of Number of Total number Avg. burden annual Avg. hourly Total annual
Type of respondent No. respondents responses per of responses per response burden (in wage rate respondent
respondent (in hours) hours) cost
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Business or other for-profit. Mortgage 91 1 91 .5 45.5 $40.68 $1,851
Portfolio
Protection
Program
Agreement
Notice of
Acceptance
(Formerly
Lender/
Mortgagor
Service
Coordination)
New Entrant/No
Form.
Business or other for-profit. Financial 250 1 250 .5 125 43.75 5,434
Assistance/
Subsidy
Arrangement
Receipt for
Materials/No
Form.
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Estimated Cost: There are no recordkeeping, capital, start-up or
maintenance costs associated with this information collection.
Comments
Comments may be submitted as indicated in the ADDRESSES caption
above. Comments are solicited to: (a) Evaluate whether the proposed
data collection is necessary for the proper performance of the agency,
including whether the information shall have practical utility; (b)
evaluate the accuracy of the agency's estimate of the burden of the
proposed collection of information, including the validity of the
methodology and assumptions used; (c) enhance the quality, utility, and
clarity of the information to be collected; and (d) minimize the burden
of the collection of information on those who are to respond, including
through the use of appropriate automated, electronic, mechanical, or
other technological collection techniques or other forms of information
technology, e.g., permitting electronic submission of responses.
Dated: April 28, 2010.
Samuel C. Smith,
Acting Director, Records Management Division, Mission Support Bureau,
Federal Emergency Management Agency, Department of Homeland Security.
[FR Doc. 2010-10527 Filed 5-4-10; 8:45 am]
BILLING CODE 9110-11-P