[Federal Register Volume 59, Number 165 (Friday, August 26, 1994)]
[Unknown Section]
[Page 0]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 94-21094]
[[Page Unknown]]
[Federal Register: August 26, 1994]
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FEDERAL EMERGENCY MANAGEMENT AGENCY
Public Information Collection Requirements Submitted to OMB for
Review
ACTION: Notice.
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SUMMARY: The Federal Emergency Management Agency (FEMA) has submitted
to the Office of Management and Budget the following public information
collection requirements for review and clearance in accordance with the
Paperwork Reduction Act of 1980, 44 U.S.C. chapter 35.
DATES: Comments on this information collection must be submitted on or
before October 25, 1994.
ADDRESSES: Direct comments regarding the burden estimate or any aspect
of this information collection, including suggestions for reducing this
burden, to: the FEMA Information Collections Clearance Officer at the
address below; and to Donald Arbuckle, Office of Management and Budget,
3235 New Executive Office Building, Washington, DC 20503, (202) 395-
7340, within 60 days of this notice.
FOR FURTHER INFORMATION CONTACT:
Copies of the above information collection request and supporting
documentation can be obtained by calling or writing Muriel B. Anderson,
FEMA Information Collections Clearance Officer, Federal Emergency
Management Agency, 500 C Street, SW., Washington, DC 20472, (202) 646-
2624.
Type: Extension of 3067-0229.
Title: Mortgage Portfolio Protection Program.
Abstract: The Mortgage Portfolio Protection Program (MPPP) is a
mechanism by which lending institutions, mortgage servicing companies
and others servicing mortgage loan portfolios can bring their mortgage
loan portfolios into compliance with the flood insurance purchase
requirements of the Flood Disaster Protection Act of 1973.
Implementation of the various requirements of the MPPP should result in
mortgagors, following receipt of notification of the need for flood
insurance, showing evidence of such a policy or purchasing the
necessary coveragee through their local insurance agent or appropriate
Write Your Own (WYO) company. It is intended that flood insurance
policies be written under the MPPP only as a last resort, and only on
mortgages whose mortgagors have failed to respond to the various
notifications required by the program.
Type of Respondent: Individuals or households, State or local
governments, farms, businesses or other for-profit, Federal agencies or
employees, non-profit institutions, and small businesses or
organizations.
Estimate of Total Annual Reporting and Recordkeeping Burden: 4,013
hours.
Number of Respondents: 6,526.
Estimated Average Burden Time per Response: An estimated 150 hours
for WYO companies to set up an initial operation under the MPPP; an
average of .5 hours per lender to sign an agreement with a WYO company
to participate in the program; an average of .5 hours per WYO company
to send notices to each mortgagor (3 notices at 10 minutes per notice);
and an average of .5 hours for each mortgagor to respond to the notices
and ask any questions.
Frequency of Response: One-Time.
Dated: August 22, 1994.
Wesley C. Moore,
Director, Office of Administrative Support.
[FR Doc. 94-21094 Filed 8-25-94; 8:45 am]
BILLING CODE 6718-01-M
