Appraisal Subcommittee of the Federal Financial Institutions Examination Council (ASC).
Notice and request for comments.
In accordance with the Paperwork Reduction Act of 1995, the ASC invites public comments on our intention to request the Office of Management and Budget (OMB) approval to renew an information collection request entitled “Collection and Transmission of Annual AMC Registry Fees.”
Written comments must be received on or before August 4, 2020 to be assured of consideration.
Commenters are encouraged to submit comments by the Federal eRulemaking Portal or email, if possible. You may submit comments, identified by Docket Number AS20-06, by any of the following methods:
Federal eRulemaking Portal: https://www.regulations.gov. Follow the instructions for submitting comments. Click on the “Help” tab on the Regulations.gov home page to get information on using Regulations.gov, including instructions for submitting public comments.
E-Mail: email@example.com. Include the docket number in the subject line of the message.
Fax: (202) 289-4101. Include docket number on fax cover sheet.
Mail or Hand Delivery/Courier: Address to Appraisal Subcommittee, Attn: Lori Schuster, Management and Program Analyst, 1325 G Street NW, Suite 500, Washington, DC 20005.
In general, the ASC will enter all comments received into the docket and publish those comments on the Regulations.gov website without change, including any business or personal information that you provide, such as name and address information, email addresses, or phone numbers. Comments received, including attachments and other supporting materials, are part of the public record and subject to public disclosure. Do not enclose any information in your comment or supporting materials that you consider confidential or inappropriate for public disclosure. The ASC will summarize and/or include your comments in the request for OMB's clearance of this information collection.
You may review comments and other related materials that pertain to this action by any of the following methods:
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Viewing Comments Electronically: Go to https://www.regulations.gov. Enter “Docket ID AS20-06” in the Search box and click “Search.” Click on the “Help” tab on the Regulations.gov home page to get information on using Regulations.gov, including instructions for viewing public comments, viewing other supporting and related materials, and viewing the docket after the close of the comment period.
Viewing Comments Personally: You may personally inspect comments at the ASC office, 1325 G Street NW, Suite 500, Washington, DC 20005. To make an appointment, please call Lori Schuster at (202) 595-7578.
FOR FURTHER INFORMATION CONTACT:
Alice M. Ritter, General Counsel, at (202) 595-7577, or Lori Schuster, Management and Program Analyst, at (202) 595-7578, Appraisal Subcommittee, 1325 G Street NW, Suite 500, Washington, DC 20005.
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Start Supplemental Information
Title: Collection and Transmission of Annual AMC Registry Fees.
OMB Number: 3139-0008.
Abstract: States that register and supervise appraisal management companies (AMCs) are required to collect and transmit annual AMC registry fees to the ASC. 12 CFR part 1102, and in particular section 1102.402, established the annual AMC registry fee for States that register and supervise AMCs as follows: (1) In the case of an AMC that has been in existence for more than a year, $25 multiplied by the number of appraisers who have performed an appraisal for the AMC on a covered transaction in such State during the previous year; and (2) in the case of an AMC that has not been in existence for more than a year, $25 multiplied by the number of appraisers who have performed an appraisal for the AMC on a covered transaction in such State since the AMC commenced doing business. Performance of an appraisal means the appraisal service requested of an appraiser by the AMC was provided to the AMC. Section 1102.403 requires AMC registry fees to be collected and transmitted to the ASC on an annual basis by States that register and supervise AMCs. Only those AMCs whose registry fees have been transmitted to the ASC are eligible to be on the AMC Registry for the 12-month Start Printed Page 34631period following the payment of the fee. Section 1102.403 clarified that States may align a one-year period with any 12-month period, which may, or may not, be based on the calendar year. The registration cycle is left to the individual States to determine.
Current Action: There are no changes being made to this regulation.
Type of Review: Extension of a currently approved collection.
Affected Public: States; businesses or other for-profit and not-for-profit organizations.
Estimated Number of Respondents: 500 AMCs, 55 States.
Estimated Total Annual Burden Hours: 500 hours.
Frequency of Response: Event generated.
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By the Appraisal Subcommittee.
James R. Park,
[FR Doc. 2020-12174 Filed 6-4-20; 8:45 am]
BILLING CODE 6700-01-P