Daily Rules, Proposed Rules, and Notices of the Federal Government
Section 10b of the Federal Home Loan Bank Act (Bank Act) establishes the requirements for making Federal Home Loan Bank (Bank) advances to nonmember mortgagees, which are referred to as “housing associates” in the regulations of the Federal Housing Finance Agency (FHFA).
Part 1264 of FHFA's regulations implements the statutory eligibility requirements and establishes uniform review criteria the Banks must use in evaluating applications from entities that wish to be certified as a housing associate. Specifically, section 1264.4 implements the statutory eligibility requirements and provides guidance to an applicant on how it may satisfy those requirements.
In part 1266 of FHFA's regulations, subpart B governs Bank advances to housing associates that have been approved under part 1264. Section 1266.17 establishes the terms and conditions under which a Bank may make advances to housing associates.
The OMB control number for the information collection, which expires on July 31, 2012, is 2590-0001. The likely respondents include applicants for housing associate certification and current housing associates.
FHFA estimates the total annual average number of applicants at one, with one response per applicant. The estimate for the average hours per application is 14 hours. The estimate for the annual hour burden for applicants is 14 hours (1 applicant × 1 response per applicant × 14 hours).
FHFA estimates the total annual average number of maintenance respondents—that is, current housing associates—at 68, with 1 response per
The estimate for the total annual hour burden is 286 hours (14 hours + 272 hours).
In accordance with 5 CFR 1320.8(d), FHFA published a request for public comments regarding this information collection in the
Written comments are requested on: (1) Whether the collection of information is necessary for the proper performance of FHFA functions, including whether the information has practical utility; (2) the accuracy of the FHFA estimates of the burdens of the collection of information; (3) ways to enhance the quality, utility and clarity of the information collected; and (4) ways to minimize the burden of the collection of information on applicants and housing associates, including through the use of automated collection techniques or other forms of information technology. Comments may be submitted to OMB in writing at the address listed above.