Loans in Areas Having Special Flood Hazards

Forms and Documents

Document Name	Status
Private Flood Insurance 10-28-16.doc Supporting Statement A	2016-10-28

IC Document Collections

IC ID	Document Title	Status
223899	Private Flood Insurance - documentation regarding mutual aid societies - 22.3(c)(4)(iv)(C)	New
223898	Private Flood Insurance - documenting discretionary acceptance criteria - 22.3(c)(3)(iv)(B)(3)	New
223897	Private Flood Insurance - verification of policy - 22.3(c)(2)(ii)	New
223896	Private Flood Insurance - written summary regarding meeting definition - 22.22.3(c)(2)(i)	New
223895	Private Flood Insurance - implementation of policies and procedures - 22.3	New
213420	FEMA, Borrower, Servicer Disclosures - 22.7, 22.9, 22.10	Modified
213419	Retention of FEMA Form - 22.6	Modified
211935	Escrow Notice - 22.5	Modified

ICR Details

OMB Control No: 1557-0326	ICR Reference No: 201608-1557-012
Status: Historical Inactive	Previous ICR Reference No: 201504-1557-002
Agency/Subagency: TREAS/OCC	Agency Tracking No:
Title: Loans in Areas Having Special Flood Hazards
Type of Information Collection: Revision of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Comment filed on proposed rule and continue	Conclusion Date: 12/22/2016
	Date Received in OIRA: 11/07/2016
Terms of Clearance: Pursuant to 5 CFR 1320.11(c), OMB files this comment on this information collection request (ICR). In accordance with 5 CFR 1320, OMB is withholding approval at this time. The agency shall examine public comment in response to the NPRM and will include in the supporting statement of the next ICR--to be submitted to OMB at the final rule stage--a description of how the agency has responded to any public comments on the ICR, including comments on maximizing the practical utility of the collection and minimizing the burden.

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	11/30/2018	11/30/2018	11/30/2018
Responses	4,650	0	4,650
Time Burden (Hours)	106,950	0	106,950
Cost Burden (Dollars)	0	0	0

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Abstract: The National Flood Insurance Act of 1968 (1968 Act) and the Flood Disaster Protection Act of 1973 (FDPA), as amended, (the Federal flood insurance statutes) govern the National Flood Insurance Program (NFIP). These laws make Federally subsidized flood insurance available to owners of improved real estate or mobile homes located in participating communities and require the purchase of flood insurance in connection with a loan made by a regulated lending institution when the loan is secured by improved real estate or a mobile home located in special flood hazard areas (SFHA) in which flood insurance is available under the NFIP. The OCC, Board, FDIC, FCA, and NCUA (the Agencies) each have issued regulations implementing these statutory requirements for the lending institutions they supervise. This information collection request (ICR) is being submitted in connection with a proposal by the Agencies to amend their regulations regarding loans in areas having special flood hazards to implement the private flood insurance provisions of the Biggert-Waters Flood Insurance Reform Act of 2012 (Biggert-Waters Act). The proposed rule would require regulated lending institutions to accept policies that meet the statutory definition of private flood insurance in the Biggert-Waters Act and permit regulated lending institutions to accept flood insurance provided by private insurers that does not meet the statutory definition of “private flood insurance” on a discretionary basis, subject to certain restrictions.

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Authorizing Statute(s): PL: Pub.L. 93 - 234 102(d) Name of Law: Flood Disaster Protection Act of 1973
   US Code: 12 USC 4102a, 4106(b) Name of Law: National Flood Insurance Act of 1968
   PL: Pub.L. 112 - 141 100239 Name of Law: Biggerts-Waters Flood Insurance Reform Act of 2012
  

Citations for New Statutory Requirements: PL: Pub.L. 112 - 141 100208, 100209, 100239 Name of Law: Biggert-Waters Flood Insurance Reform Act of 2012

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
1557-AD67	Proposed rulemaking	81 FR 78063	11/07/2016

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Federal Register Notices & Comments

Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 8

IC Title	Form No.	Form Name
Private Flood Insurance - documenting discretionary acceptance criteria - 22.3(c)(3)(iv)(B)(3)
Retention of FEMA Form - 22.6
FEMA, Borrower, Servicer Disclosures - 22.7, 22.9, 22.10
Escrow Notice - 22.5
Private Flood Insurance - verification of policy - 22.3(c)(2)(ii)
Private Flood Insurance - written summary regarding meeting definition - 22.22.3(c)(2)(i)
Private Flood Insurance - implementation of policies and procedures - 22.3
Private Flood Insurance - documentation regarding mutual aid societies - 22.3(c)(4)(iv)(C)

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Burden increases because of Program Change due to Agency Discretion: Yes

Burden Increase Due to: Changing Regulations

Burden decreases because of Program Change due to Agency Discretion: No

Burden Reduction Due to:

Short Statement: The increase in burden is due to the issuance of proposed regulations regarding private flood insurance.

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Annual Cost to Federal Government:

Does this IC contain surveys, censuses, or employ statistical methods? No

Is the Supporting Statement intended to be a Privacy Impact Assessment required by the E-Government Act of 2002? No

Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]? No

Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]? No

Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)? No

Is this ICR related to the Pandemic Response? Uncollected

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Common Form ICR:  No

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On behalf of this Federal agency, I certify that the collection of information encompassed by this request complies with 5 CFR 1320.9 and the related provisions of 5 CFR 1320.8(b)(3).

The following is a summary of the topics, regarding the proposed collection of information, that the certification covers:

(a) It is necessary for the proper performance of agency functions;

(b) It avoids unnecessary duplication;

(c) It reduces burden on small entities;

(d) It uses plain, coherent, and unambiguous language that is understandable to respondents;

(e) Its implementation will be consistent and compatible with current reporting and recordkeeping practices;

(f) It indicates the retention periods for recordkeeping requirements;

(g) It informs respondents of the information called for under 5 CFR 1320.8 (b)(3) about:

(i) Why the information is being collected;

(ii) Use of information;

(iii) Burden estimate;

(iv) Nature of response (voluntary, required for a benefit, or mandatory);

(v) Nature and extent of confidentiality; and

(vi) Need to display currently valid OMB control number;

(h) It was developed by an office that has planned and allocated resources for the efficient and effective management and use of the information to be collected.

(i) It uses effective and efficient statistical survey methodology (if applicable); and

(j) It makes appropriate use of information technology.

If you are unable to certify compliance with any of these provisions, identify the item by leaving the box unchecked and explain the reason in the Supporting Statement.

Certification Date: 11/07/2016

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