Loans in Areas Having Special Flood Hazards

ICR 202507-3064-003

OMB: 3064-0207

Federal Form Document

ICR Details
3064-0207 202507-3064-003
Received in OIRA 202201-3064-009
FDIC
Loans in Areas Having Special Flood Hazards
Extension without change of a currently approved collection   No
Regular 07/21/2025
  Requested Previously Approved
36 Months From Approved 07/31/2025
1,220,475 1,396,582
105,688 117,613
0 0

Each supervised lending institution is required to provide a notice of special flood hazards to a borrower acquiring a loan secured by a building on real property located in an area identified by FEMA as subject to special flood hazards, and various other notices to borrowers, servicers and FEMA.. The Riegle Community Development Act requires that each institution also provide a copy of the notice to the servicer of the loan (if different from the originating lender). Section 100239 of the Biggert-Waters Flood Insurance Reform Act of 2012 requires each federal banking agency (including the FDIC), and the Farm Credit Administration, to adopt implementing regulations to direct regulated lending institutions to accept “private flood insurance,” as defined by the Biggert-Waters Act. A lending institution would be required to implement policies and procedures to comply with the Biggert-Waters Act provision and verify in writing that a private insurance policy satisfies the criteria included in the definition or document findings that separate required criteria have been met when accepting a private flood insurance policy in satisfaction of the mandatory flood insurance purchase requirement of the Flood Disaster Protection Act. The institution must also maintain records to permit examination staff to ascertain how the institution has met the requirements of the regulation.

US Code: 12 USC 5412(b)(2)(c) Name of Law: Dodd-Frank Wall Street Reform and Consumer Protection Act
   US Code: 42 USC 4001 - 4129 Name of Law: National Flood Insurance Act of 1968
   US Code: 12 USC 1462a Name of Law: Home Owners' Loan Act
   US Code: 12 USC 1463 Name of Law: Home Owners' Loan Act
   US Code: 12 USC 1464 Name of Law: Home Owners' Loan Act
   US Code: 12 USC 1819 (Tenth) Name of Law: Federal Deposit Insurance Act
  
PL: Pub.L. 112 - 141 100239 Name of Law: Biggert-Waters Flood Insurance Reform Act of 2012

Not associated with rulemaking

  90 FR 17434 04/25/2025
90 FR 30069 07/08/2025
No

  Total Request Previously Approved Change Due to New Statute Change Due to Agency Discretion Change Due to Adjustment in Estimate Change Due to Potential Violation of the PRA
Annual Number of Responses 1,220,475 1,396,582 0 0 -176,107 0
Annual Time Burden (Hours) 105,688 117,613 0 0 -11,925 0
Annual Cost Burden (Dollars) 0 0 0 0 0 0
No
No

$0
No
    No
    No
No
Yes
No
No
Robert Meiers 571 645-3062 romeiers@fdic.gov

  No

On behalf of this Federal agency, I certify that the collection of information encompassed by this request complies with 5 CFR 1320.9 and the related provisions of 5 CFR 1320.8(b)(3).
The following is a summary of the topics, regarding the proposed collection of information, that the certification covers:
 
 
 
 
 
 
 
    (i) Why the information is being collected;
    (ii) Use of information;
    (iii) Burden estimate;
    (iv) Nature of response (voluntary, required for a benefit, or mandatory);
    (v) Nature and extent of confidentiality; and
    (vi) Need to display currently valid OMB control number;
 
 
 
If you are unable to certify compliance with any of these provisions, identify the item by leaving the box unchecked and explain the reason in the Supporting Statement.
07/21/2025


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