[Federal Register Volume 76, Number 220 (Tuesday, November 15, 2011)]
[Notices]
[Pages 70745-70746]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2011-29468]
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DEPARTMENT OF HOMELAND SECURITY
Federal Emergency Management Agency
[Docket ID: FEMA-2011-0034; OMB No. 1660-0086]
Agency Information Collection Activities: Proposed Collection;
Comment Request; National Flood Insurance Program--Mortgage Portfolio
Protection Program
AGENCY: Federal Emergency Management Agency, DHS.
ACTION: Notice.
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SUMMARY: The Federal Emergency Management Agency, as part of its
continuing effort to reduce paperwork and respondent burden, invites
the general public and other Federal agencies to take this opportunity
to comment on a proposed revision of a currently approved information
collection. In accordance with the Paperwork Reduction Act of 1995,
this notice seeks comments concerning the National Flood Insurance
Program Mortgage Portfolio Protection program, which is an option that
companies participating in the National Flood Insurance Program can use
to bring their mortgage loan portfolios into compliance with the flood
insurance purchase requirements. To participate in the Mortgage
Portfolio Protection Program, the company must agree to adhere to
certain guidelines and requirements in the implementation package
published by the Associate Administrator for Federal Insurance and
Mitigation Administration. The Write Your Own insurance company signs
documentation noting they agree to adhere to these requirements.
DATES: Comments must be submitted on or before January 17, 2012.
ADDRESSES: To avoid duplicate submissions to the docket, please use
only one of the following means to submit comments:
(1) Online. Submit comments at http://www.regulations.gov under
Docket ID FEMA-2011-0034. Follow
[[Page 70746]]
the instructions for submitting comments.
(2) Mail. Submit written comments to Docket Manager, Office of
Chief Counsel, DHS/FEMA, 500 C Street SW., Room 835, Washington, DC
20472-3100.
(3) Facsimile. Submit comments to (703) 483-2999.
(4) Email. Submit comments to [email protected]. Include Docket
ID FEMA-2011-0034 in the subject line.
All submissions received must include the agency name and Docket
ID. Regardless of the method used for submitting comments or material,
all submissions will be posted, without change, to the Federal
eRulemaking Portal at http://www.regulations.gov, and will include any
personal information you provide. Therefore, submitting this
information makes it public. You may wish to read the Privacy Act
notice that is available via the link in the footer of http://www.regulations.gov.
FOR FURTHER INFORMATION CONTACT: Susan Bernstein, Program Analyst;
Mitigation Directorate, (202) 212-2113 for additional information. You
may contact the Records Management Division for copies of the proposed
collection of information at facsimile number (202) 646-3347 or email
address: [email protected].
SUPPLEMENTARY INFORMATION: The National Flood Insurance Program (NFIP)
is authorized in Public Law 90-448 (1968) and expanded by Public Law
93-234 (1973), and is codified as 42 U.S.C. 4001, et sec. Public Law
103-325 (1994) expands upon this and provides federally supported flood
insurance for existing buildings exposed to flood risk. In accordance
with Public Law 93-234, the purchase of flood insurance is mandatory
when Federal or federally related financial assistance is being
provided for acquisition or flood hazard areas of communities that are
participating in the program.
The Mortgage Portfolio Protection program (MPPP) is an option that
companies participating in the NFIP can use to bring their mortgage
loan portfolios into compliance with the flood insurance purchase
requirements of the three public laws described above. Section
62.23(l)(1) of Title 44 of the Code of Regulations (CFR), with 44 CFR
Appendix A to Part 62 implements the MPPP requirements for specific
notices and other procedures that must be adhered to. Insurance
companies applying for or renewing their participation in the Write
Your Own (WYO) program must indicate that they will adhere to the
requirements of the MPPP if they are electing to voluntarily
participate in the MPPP. Per 44 CFR 62.23(l)(2), WYO companies
participating in the MPPP must provide a detailed implementation
package, known as the Mortgage Portfolio Protection Program Agreement,
to the lending companies who are requesting insurance coverage and the
lender must acknowledge receipt.
Collection of Information
Title: National Flood Insurance Program--Mortgage Portfolio
Protection Program.
Type of Information Collection: Revision of a currently approved
information collection.
OMB Number: 1660-0086.
Form Titles and Numbers: None.
Abstract: A WYO company that wishes to participate in the MPPP must
review the information listed in the MPPP Agreement and complete the
acknowledgement to participate in the MPPP or elect to continue under
just the WYO guidelines. A lender wishing to obtain flood insurance
through a MPPP participating insurance company must review the
Financial Assistance/Subsidy Arrangement and acknowledge the terms so
that they can properly apply for flood insurance through this program.
Affected Public: Business or other non-profits.
Estimated Total Annual Burden Hours: 171 hours.
Estimated Cost: There is no annual reporting and recordkeeping cost
associated with this collection.
Comments
Comments may be submitted as indicated in the ADDRESSES caption
above. Comments are solicited to (a) Evaluate whether the proposed data
collection is necessary for the proper performance of the agency,
including whether the information shall have practical utility; (b)
evaluate the accuracy of the agency's estimate of the burden of the
proposed collection of information, including the validity of the
methodology and assumptions used; (c) enhance the quality, utility, and
clarity of the information to be collected; and (d) minimize the burden
of the collection of information on those who are to respond, including
through the use of appropriate automated, electronic, mechanical, or
other technological collection techniques or other forms of information
technology, e.g., permitting electronic submission of responses.
Gary L. Anderson,
Acting Chief Administrative Officer, Mission Support Bureau, Federal
Emergency Management Agency, Department of Homeland Security.
[FR Doc. 2011-29468 Filed 11-14-11; 8:45 am]
BILLING CODE 9110-11-P