[Federal Register Volume 63, Number 167 (Friday, August 28, 1998)]
[Notices]
[Pages 46020-46021]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 98-23174]
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FEDERAL EMERGENCY MANAGEMENT AGENCY
Agency Information Collection Activities: Submission for OMB
Review; Comment Request
ACTION: Notice and request for comments.
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SUMMARY: The Federal Emergency Management Agency has submitted the
following proposed information collection to the Office of Management
and Budget for review and clearance in accordance with the requirements
of the Paperwork Reduction Act of 1995 (44 U.S.C. 3507).
Title: Standard Flood Hazard Determination form.
Type of Information Collection: This form is completed by federally
regulated lending institutions when making, increasing, extending,
renewing or purchasing each loan for the purpose of documenting the
factors considered as to whether flood insurance is required and
available. FEMA does not collect this information from the lenders.
OMB Number: 3067-0264.
Abstract: On September 23, 1994, President Clinton signed the
Riegle Community Development and Regulatory Improvement Act of 1994.
Title V of this Act is the National Flood Insurance Reform Act (NFIRA).
Section 528 of the NFIRA required the development of a standard form
for determining whether a structure is located within an identified
Special Flood Hazard Area and whether flood insurance is available.
Section 528 of the NFIRA also required the use of this form by
regulated lending institutions, federal agency lenders, the Federal
National Mortgage Association, the Federal Home Loan Mortgage
Corporation, and the Government National Mortgage Association, for any
loan made, increased, extended, renewed, or purchased by these
entities. FEMA, in consultation with the Federal entities for lending
regulation, developed this form in 1995. On July 6, 1995, FEMA
published a final rule in the Federal Register, establishing the form.
The Federal entities for lending regulation published their final rule
requiring the use of the form on July 6, 1995. Use of the form became
mandatory on January 2, 1996.
Affected Public: This form is completed by federally regulated
lending institutions when making, increasing, extending, renewing or
[[Page 46021]]
purchasing each loan for the purpose of documenting the factors
considered as to whether flood insurance is required and available.
Number of Respondents: An estimated 12,000,000 affected loan
applications are processed each year.
Estimated Time per Respondent: The estimated burden time for
completing the form is 20 minutes per respondent.
Estimated Total Annual Burden Hours: An estimated 12,000,000 loan
transactions multiplied by 0.33 hour per form, results in an estimated
annual burden of approximately 4,000,000 hours.
Frequency of Response: The form is required of federally regulated
lending institutions when making, increasing, extending, renewing or
purchasing any loan secured by improved real estate.
COMMENTS: Interested persons are invited to submit written comments on
the proposed information collection to Victoria Wassmer, Desk Officer
for the Federal Emergency Management Agency, Office of Information and
Regulatory Affairs, Office of Management and Budget, Washington, DC
20503 within 30 days of the date of this notice.
FOR FURTHER INFORMATION CONTACT: Requests for additional information or
copies of the information collection should be made to Muriel B.
Anderson, FEMA Information Collections Officer, Federal Emergency
Management Agency, 500 C Street, SW, Room 316, Washington, DC 20472.
Telephone number (202) 646-2625. FAX number (202) 646-3524.
Dated: August 21, 1998.
Muriel B. Anderson,
Acting Director, Program Services Division, Operations Support
Directorate.
[FR Doc. 98-23174 Filed 8-27-98; 8:45 am]
BILLING CODE 6718-01-P
