[Federal Register Volume 81, Number 78 (Friday, April 22, 2016)]
[Notices]
[Page 23756]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2016-09379]
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NATIONAL CREDIT UNION ADMINISTRATION
Agency Information Collection Activities: Reverse Mortgage
Products: Guidance for Managing Compliance and Reputation Risks;
Comment Request
AGENCY: National Credit Union Administration (NCUA).
ACTION: Notice and request for comment.
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SUMMARY: NCUA, as part of its continuing effort to reduce paperwork and
respondent burden, invites the general public and other Federal
agencies to comment on this reinstatement of a previously approved
collection, as required by Paperwork Reduction Act of 1995 (Pub. L.
104-13, 44 U.S.C. Chapter 35). The purpose of this notice is to allow
for 60 days of public comment. NCUA is soliciting comments on the
reinstatement of the information collection described below.
DATES: Comments should be received on or before June 21, 2016 to be
assured consideration.
ADDRESSES: Interested persons are invited to submit written comments on
the information collection to Dawn Wolfgang, National Credit Union
Administration, 1775 Duke Street, Alexandria, Virginia 22314-3428; Fax
No. 703-519-8579; or Email at [email protected].
FOR FURTHER INFORMATION CONTACT: Requests for additional information
should be directed to the address above.
SUPPLEMENTARY INFORMATION:
I. Abstract and Request for Comments
NCUA is requesting reinstatement of the previously approved
collection of information related to the Reverse Mortgage Guidance
which sets forth standards intended to ensure that financial
institutions effectively assess and manage the compliance and
reputation risks associated with reverse mortgage products. The
information collection will allow NCUA to evaluate the adequacy of a
federally-insured credit union's internal policies and procedures as
they relate to reverse mortgage products.
Comments submitted in response to this notice will be summarized
and included in the request for Office of Management and Budget
approval. All comments will be a matter of public record. The public is
invited to submit comments concerning: (a) Whether the collection of
information is necessary for the proper performance of the functions of
the agency, including whether the information will have practical
utility; (b) the accuracy of the agency's estimate of the burden of the
collection of information, including the validity of the methodology
and assumptions used; (c) ways to enhance the quality, utility, and
clarity of the information to be collected; and (d) ways to minimize
the burden of the collection of the information on the respondents,
including the use of automated collection techniques or other forms of
information technology.
II. Data
Title: Reverse Mortgage Products: Guidance for Managing Reputation
Risks.
OMB Number: 3133-0187.
Type of Review: Reinstatement without change of a previously
approved collection.
Description: The Reverse Mortgage Guidance sets forth standards
intended to ensure that financial institutions effectively assess and
manage the compliance and reputation risks associated with reverse
mortgage products. The information collection will allow NCUA to
evaluate the adequacy of a federally-insured credit union's internal
policies and procedures as they relate to reverse mortgage products.
Respondents: Federally insured credit unions.
Estimated Number of Respondents: 28.
Frequency of Response: Once, then annually.
Estimated Burden Hours per Response: 40 hours to initially
implement policies and procedures and to provide training; 8 hours
annually to maintain program.
Estimated Total Annual Burden Hours: 1,344.
By Gerard Poliquin, Secretary of the Board, the National Credit
Union Administration, on April 19, 2016.
Dated: April 19, 2016
Dawn D. Wolfgang,
NCUA PRA Clearance Officer.
[FR Doc. 2016-09379 Filed 4-21-16; 8:45 am]
BILLING CODE 7535-01-P