Real Estate Lending and Appraisals

Forms and Documents

Document Name	Status
1557-0190 3-22-18 446PM.doc Supporting Statement A	2018-03-22

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	Modified
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: 201803-1557-006
Status: Historical Active	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: Approved without change	Conclusion Date: 05/16/2018
	Date Received in OIRA: 04/09/2018
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	05/31/2021	04/30/2020	04/30/2020
Responses	1,787,489	0	3,302
Time Burden (Hours)	193,857	0	94,512
Cost Burden (Dollars)	0	0	0

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Abstract: The information collections in parts 34 and 160 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 final rule that increases the threshold level above which appraisals would be required for commercial real estate loans from $250,000 to $ $500,000 under 12 CFR 34.43. Section 34.43 contains no information collection requirements under the Paperwork Reduction Act (PRA), but specifies when the remaining requirements in the collection must be followed. The change, which reduces regulatory burden for financial institutions, 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 However, the OCC and the other has determined that the current burden for parts 34 and 160 is out of date and has updated its estimates, resulting in an overall increase in burden.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 final rule and OCC is not requesting an extension of the current expiration date for the collection The OCC submitted the information collection requirements to OMB in connection with the proposal under section 3507(d) of the PRA and section 1320.11 of the OMB’s implementing regulations. OMB filed a comment pursuant to 5 CFR 1320.11(c) instructing the agencies to examine public comment in response to the proposal and describe in the supporting statement of its next collection (the final rule) any public comments received regarding the collection as well as why (or why it did not) incorporate the commenter’s recommendation and include the draft final rule in its next submission. The OCC received no public comments and is resubmitting pursuant to the instruction in OMB's comments. .

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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	Final or interim final rulemaking	83 FR 15019	04/09/2018

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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
ARM Loan Documentation
Prior Notice of Advances under Development or Improvement Plan
Issuance of Default Notice

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ICR Summary 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	1,787,489	3,302	0	0	1,784,187	0
Annual Time Burden (Hours)	193,857	94,512	0	0	99,345	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: The increase in burden is due to the change in the methodology for calculating the burden estimates.

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Annual Cost to Federal Government: $0

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

Does this ICR request any personally identifiable information (see OMB Circular No. A-130 for an explanation of this term)? Please consult with your agency's privacy program when making this determination.     No

Does this ICR include a form that requires a Privacy Act Statement (see 5 U.S.C. §552a(e)(3))? Please consult with your agency's privacy program when making this determination.     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: 04/09/2018

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