The information collection is necessary for the Federal Home Loan Banks to determine, and for the Federal Housing Finance Agency to monitor, whether applicants are eligible to receive Affordable Housing Program (AHP) subsidies and whether their use of AHP subsidies complies with approved applications and statutory and regulatory requirements. The likely respondents are institutions that are Bank members and non-member entities that receive or apply for AHP subsidies through a Bank member.
FHFA has increased its estimate as to the total annual average number of burden hours to 118,905 from the 115,750 that were shown in the Supporting Statement submitted in connection with the 2017 renewal of this control number. On balance, FHFA anticipates that the final rule will decrease information collection burdens somewhat on a per-submission basis. Nonetheless, FHFA anticipates that the total burden associated with this information collection will increase slightly due to: (1) an expected increase in the number of AHP competitive applications received by the Banks as a result of some of the revisions that are made by the final rule; and (2) an expected increase in the number of AHP competitive projects and Homeownership Set-Aside direct subsidies approved because of anticipated higher required annual AHP contributions resulting in projected higher Bank incomes. FHFA has increased its estimate as to the annualized costs associated with the burden estimates from $5,984,898 to $6,351,659. This increase arises primarily from the estimated increase in burden hours, but also to a minor extent from slight increases in the national mean hourly wages for the relevant occupational categories. The estimated annual costs incurred by FHFA remain unchanged.
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.
2018 AHP OMB Supporting Statement for Final Rule.pdf
Homeownership Set-Aside Program Applications and Certifications