Enables the Federal Home Loan Banks and, where appropriate, the Federal Housing Finance Agency to determine if a respondent satisfies the statutory and regulatory requirements to be certified initially, and to maintain its status as a housing associate eligible to receive Bank advances.
US Code:
12 USC 1430b
Name of Law: Federal Home Loan Bank Act
FHFA has increased the estimated total annual burden hours slightly to 336 from the 286 that were shown in the Supporting Statement submitted with the request for renewal of this information collection in 2012. This increase is due to two factors: (1) an increase (to 2 from 1) in the estimated number of entities applying to be certified as Housing Associates annually; and (2) an increase (to 77 from 68) in the estimated number of existing Housing Associates that will need to comply with the annual reporting requirements. FHFA made both of those adjustments based on the actual increase in the number of Housing Associates from December 31, 2011 through December 31, 2014.
In addition, FHFA has increased the estimated annualized costs associated with the burden hours reported under Item #12 (to $22,645 from $17,932). This increase is due partially to the increase in the estimated number of existing Housing Associates and applicants described above and partially to the fact that we have adjusted all of the estimated "per hour" costs to reflect a 5.8% total increase in the Employment Cost Index (ECI) for civilian workers since 2012. FHFA has also increased its estimate of other annualized costs reported under Item #13 (to $2,131 from $1,800) to reflect the higher estimated number of Housing Associates and applicants and a 3.8 percent total increase in the Consumer Price Index for all Urban Consumers (CPI-U) from 2012 to 2015.
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:
(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;
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.
Advances to Housing Associates--Supporting Statement Final.pdf
Advances to Housing Associates: Maintenance Respondents