Real Estate Lending and Appraisals

Forms and Documents

Document Name	Status
1557-0190 OREO 4-17-19.doc Supporting Statement A	2019-04-17

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	Unchanged
207695	Request to Use an Alternative Index	Unchanged
20065	ARM Loan Documentation	Unchanged

ICR Details

OMB Control No: 1557-0190	ICR Reference No: 201904-1557-007
Status: Historical Inactive	Previous ICR Reference No: 201803-1557-006
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: 07/02/2019
	Date Received in OIRA: 04/24/2019
Terms of Clearance: The OCC should analyze whether the $114 hourly burden estimate should be uniform across all aspects of the collection.

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	05/31/2021	36 Months From Approved	05/31/2021
Responses	1,787,489	0	1,787,489
Time Burden (Hours)	193,857	0	193,857
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 submitted in connection with a notice of proposed rulemaking. The proposal will not result in a change in burden. While the respondent count will increase with the addition of Federal savings associations, we estimate fewer notices from national banks due to a decrease in charters since the last review, resulting in no change in burden. Section 34.86(d) updates the requirements for prior notification for significant additional expenditures on OREO for national banks and extends the provision to Federal savings associations. Currently, a national bank must notify the OCC at least 30 days before making additional expenditures if the amount of the expenditures and recorded investment in the OREO exceeds ten percent of its capital and surplus, based on regulatory capital calculated under 12 CFR part 3. Federal savings associations are subject to supervisory review of any expenditures on OREO in excess of their lending limits, which are calculated based on a formula that incorporates a percentage of capital and surplus. The proposal updates and streamlines the notification provision by requiring prior notification only when the proposed additional expenditures and recorded investment in an individual OREO property exceeds 10 percent of the institution’s total equity capital based on its most recent Call Report. National banks with significant loan loss reserves or excessive losses recorded in accumulated other comprehensive income will generally have a reduced limit for notification. National banks holding assets that are deducted under the regulatory capital rule, will generally have an increase limit for notification under the proposal.

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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-AE50	Proposed rulemaking	84 FR 17094	04/24/2019

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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:

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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: 04/24/2019

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