Recordkeeping Requirements Associated with Real Estate Appraisal Standards for Federally Related Transactions Pursuant to Regulations H and Y

Forms and Documents

Forms and supporting documents for this ICR

Document	Type	Status	Availability
FRH-4_20111125_83c.pdf	Justification for No Material/Nonsubstantive Change	Uploaded 2011-11-25	Repair queued

IC Document Collections

Information collection document groups

IC ID	Collection	Type	Status	Form
36286	FR H-4 SMBs (Reg H, Sections 208.50 - 208.51)		Modified
187963	FR H-4 BHC Subs (Reg Y, Sections 225.61-225.67)		Modified

ICR Details

OMB Control No: 7100-0250	ICR Reference No: 201111-7100-003
Status: Historical Active	Previous ICR Reference No: 200903-7100-003
Agency/Subagency: FRS	Agency Tracking No: FR H-4 (83-c)
Title: Recordkeeping Requirements Associated with Real Estate Appraisal Standards for Federally Related Transactions Pursuant to Regulations H and Y
Type of Information Collection: No material or nonsubstantive change to a currently approved collection	Common Form ICR:  No
Type of Review Request: Delegated
OIRA Conclusion Action: Approved without change	Conclusion Date: 01/19/2012
	Date Received in OIRA: 01/19/2012
Terms of Clearance:

table that charts list comparision

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	05/31/2012	05/31/2012	05/31/2012
Responses	167,927	0	379,772
Time Burden (Hours)	41,982	0	94,943
Cost Burden (Dollars)	0	0	0

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Abstract: Under regulations H and Y, state member banks, bank holding companies (BHCs), and the nonbank subsidiaries of BHC's must review and evaluate the required appraisals for federally related transactions.

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Authorizing Statute(s): US Code: 12 USC 3339 Name of Law: FIRREA
  

Citations for New Statutory Requirements: None

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
	Not associated with rulemaking

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Federal Register Notices & Comments
60-day Notice:	Federal Register Citation:	Citation Date:
	74 FR 9401	03/04/2009
30-day Notice:	Federal Register Citation:	Citation Date:
	74 FR 22928	05/15/2009
Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 2

table that charts list of burden

IC Title	Form No.	Form Name
FR H-4 SMBs (Reg H, Sections 208.50 - 208.51)
FR H-4 BHC Subs (Reg Y, Sections 225.61-225.67)

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ICR Summary of Burden

table that charts list of burden

	Total Approved	Previously Approved	Change Due to New Statute	Change Due to Agency Discretion	Change Due to Adjustment in Estimate	Change Due to Potential Violation of the PRA
Annual Number of Responses	167,927	379,772	0	0	-211,845	0
Annual Time Burden (Hours)	41,982	94,943	0	0	-52,961	0
Annual Cost Burden (Dollars)	0	0	0	0	0	0

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

Burden Increase Due to:

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

Burden Reduction Due to:

Short Statement: Decrease in total annual burden hours reflects an update of respondent count and a decrease in frequency, which reflects changes in the mortgage lending market.

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Annual Cost to Federal Government: $0

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: 01/19/2012

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