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###### National Credit Union Administration

# AGENCY:

National Credit Union Administration (NCUA).

      ( print page 33213)    

# ACTION:

Notice and request for comment.

# SUMMARY:

The National Credit Union Administration (NCUA), as part of a continuing effort to reduce paperwork and respondent burden, invites the general public and other Federal agencies to comment on the following extension of a currently approved collection, as required by the Paperwork Reduction Act of 1995.

# DATES:

Written comments should be received on or before August 1, 2022 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, Suite 6032, Alexandria, Virginia 22314; email at                         *PRAComments@NCUA.gov.*                         Given the limited in-house staff because of the COVID-19 pandemic, email comments are preferred.                    

# FOR FURTHER INFORMATION CONTACT:

Address requests for additional information to Dawn Wolfgang at the address above or telephone 703-548-2279.

# SUPPLEMENTARY INFORMATION:

*OMB Number:*                     3133-0125.                

*Title:*                     Appraisals, 12 CFR 722.                

*Type of Review:*                     Extension of a currently approved collection.                

*Abstract:*                     Title XI of the Financial Institutions, Reform, Recovery and Enforcement Act of 1989 (FIRREA) was enacted to protect federal financial and public policy interests in real estate related transactions. To achieve this purpose, the statute directed the National Credit Union Administration (NCUA), as one of the federal financial institutions regulatory agencies, to adopt standards for the performance of real estate appraisals in connection with federally related transactions. The FIRREA requires that appraisals be maintained in writing and meet certain minimum standards. The NCUA regulation Part 722 carries out the statutory requirements. The information collection activity requires a credit union to obtain a written appraisal on federally related transactions or maintain written support of the estimated market value for certain other transactions not required to have an appraisal. These information collections are attributable to the regulation and are a direct consequence of the legislative intent and statutory requirements.                

Federally insured credit unions (FICU) use the information in determining whether and upon what terms to enter into a federally related transaction, such as making a loan secured by real estate. In addition, NCUA uses this information in its examinations of FICUs to ensure that extensions of credit by the FICU that are collateralized by real estate are undertaken in accordance with appropriate safety and soundness principles. The use of their information by credit unions and NCUA helps ensure that FICUs are not exposed to risk of loss from inadequate appraisals or written estimates of market value.

*Affected Public:*                     Private Sector: Not-for-profit institutions.                

*Estimated No. of Respondents:*                     3,365.                

*Estimated No. of Responses per Respondent:*                     618.                

*Estimated Total Annual Responses:*                     2,079,707.                

*Estimated Burden Hours per Response:*                     0.083.                

*Estimated Total Annual Burden Hours:*                     173,309.                

*Reason for Change:*                     An increase of 36,211 burden hours is the result of an adjustments. The number of FICUs have decreased since the previous submission, but the number of real estate loans have increased, thus an increase in the number of responses per respondent.                

*Request for Comments:*                     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 become a matter of public record. The public is invited to submit comments concerning: (a) Whether the collection of information is necessary for the proper execution of the function 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.                

By Melane Conyers-Ausbrooks, Secretary of the Board, the National Credit Union Administration, on May 25, 2022.

Dated: May 26, 2022.

Dawn D. Wolfgang,

NCUA PRA Clearance Officer.

[FR Doc. 2022-11702 Filed 5-31-22; 8:45 am]

BILLING CODE 7535-01-P