Real Estate Lending and Appraisals

Forms and Documents

Document Name	Status
1557-0190 7-11-17.doc Supporting Statement A	2017-07-11

IC Document Collections

IC ID	Document Title	Status
207701	Issuance of Default Notice	Unchanged
207700	Prior Notice of Advances under Development or Improvement Plan	Unchanged
207699	Evaluation Policy	Unchanged
207698	Resolution - Use of Property	Unchanged
207697	Written Policies	Unchanged
207696	Written Appraisals	Modified
207695	Request to Use an Alternative Index	Unchanged
20065	ARM Loan Documentation	Unchanged

ICR Details

OMB Control No: 1557-0190	ICR Reference No: 201707-1557-001
Status: Historical Inactive	Previous ICR Reference No: 201606-1557-006
Agency/Subagency: TREAS/OCC	Agency Tracking No:
Title: Real Estate Lending and Appraisals
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: 12/26/2017
	Date Received in OIRA: 07/31/2017
Terms of Clearance: COMMENT: OMB files this comment in accordance with 5 CFR 1320.11( c ). This OMB action is not an approval to conduct or sponsor an information collection under the Paperwork Reduction Act of 1995. This action has no effect on any current approvals. If OMB has assigned this ICR a new OMB Control Number, the OMB Control Number will not appear in the active inventory. For future submissions of this information collection, reference the OMB Control Number provided. Resubmit when proposed rule is finalized.

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	04/30/2020	36 Months From Approved	04/30/2020
Responses	3,302	0	3,302
Time Burden (Hours)	94,512	0	94,512
Cost Burden (Dollars)	0	0	0

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Abstract: The information collections are required by statute to regulate real estate lending and holding by national banks and savings associations (institutions). These regulations are required by statute and are used by the OCC to ensure the safe and sound operation of institutions and institution compliance. This ICR is being filed in connection with a notice of proposed rulemaking that would increase the threshold level above which appraisals would be required for commercial real estate loans from $250,000 to $400,000 under 12 CFR 34.44. The change reflects comments received through the regulatory review process required by the Economic Growth and Regulatory Paperwork Reduction Act (EGRPRA) and completed at the end of 2016. Ordinarily, this would result in a burden reduction. However, the OCC and the other banking agencies have determined that the current burden for this provision was out of date and have updated their estimates, resulting in an overall increase in burden. The OCC will update the estimates for the remaining provisions in this information collection as part of the next three-year renewal. The remaining provisions are not discussed in the preamble to the notice of proposed rulemaking and OCC is not requesting an extension of the current expiration date for the collection.

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Authorizing Statute(s): US Code: 12 USC 3331 et seq. Name of Law: Financial Institutions Reform, Recovery and Enforcement Act of 1989
  

Citations for New Statutory Requirements: None

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
1557-AE18	Proposed rulemaking	82 FR 35478	07/31/2017

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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
Request to Use an Alternative Index
Written Appraisals
Written Policies
Resolution - Use of Property
Evaluation Policy
Prior Notice of Advances under Development or Improvement Plan
Issuance of Default Notice
ARM Loan Documentation

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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: The increase in burden is due to the availability of more accurate burden estimates.

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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: 07/31/2017

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