Notice2022-23828
Proposed Collection; Comment Request
Primary source
Metadata and text below are from the Federal Register, a public-domain U.S. government work. Always verify the official published version before relying on it for any legal matter.
Published
November 2, 2022
Issuing agencies
Federal Housing Finance Agency
Abstract
The Federal Housing Finance Agency (FHFA or Agency), as part of its continuing effort to reduce paperwork and respondent burden, invites public comments on a new information collection titled "Tech Sprints," as required by the Paperwork Reduction Act of 1995 (PRA). This information collection has not yet been assigned a control number by the Office of Management and Budget (OMB). FHFA intends to submit the information collection to OMB for review and approval of a three- year control number.
Full Text
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<title>Federal Register, Volume 87 Issue 211 (Wednesday, November 2, 2022)</title>
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[Federal Register Volume 87, Number 211 (Wednesday, November 2, 2022)]
[Notices]
[Pages 66183-66184]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2022-23828]
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FEDERAL HOUSING FINANCE AGENCY
[No. 2022-N-13]
Proposed Collection; Comment Request
AGENCY: Federal Housing Finance Agency.
ACTION: 60-Day notice of submission of information collection for
approval from Office of Management and Budget.
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SUMMARY: The Federal Housing Finance Agency (FHFA or Agency), as part
of its continuing effort to reduce paperwork and respondent burden,
invites public comments on a new information collection titled ``Tech
Sprints,'' as required by the Paperwork Reduction Act of 1995 (PRA).
This information collection has not yet been assigned a control number
by the Office of Management and Budget (OMB). FHFA intends to submit
the information collection to OMB for review and approval of a three-
year control number.
DATES: Interested persons may submit comments on or before January 3,
2023.
ADDRESSES: Submit comments to FHFA, identified by ``Proposed
Collection; Comment Request: `Tech Sprints, (No. 2022-N-13)' '' by any
of the following methods:
<bullet> Agency Website: <a href="http://www.fhfa.gov/open-for-comment-or-input">www.fhfa.gov/open-for-comment-or-input</a>.
<bullet> Federal eRulemaking Portal: <a href="http://www.regulations.gov">http://www.regulations.gov</a>.
Follow the instructions for submitting comments. If you submit your
comment to the Federal eRulemaking Portal, please also send it by email
to FHFA at <a href="/cdn-cgi/l/email-protection#0c5e696b4f6361616962787f4c6a646a6d226b637a"><span class="__cf_email__" data-cfemail="0654636145696b6b6368727546606e606728616970">[email protected]</span></a> to ensure timely receipt by FHFA.
Include the following information in the subject line of your
submission: Comments (No. 2022-N-13).
<bullet> Mail/Hand Delivery: Federal Housing Finance Agency, 400
Seventh Street SW, Washington, DC 20219, ATTENTION: Proposed
Collection; Comment Request: ``Tech Sprints, (No. 2022-N-13)''. Please
note that all mail sent to FHFA via the U.S. Postal Service is routed
through a national irradiation facility, a process that may delay
delivery by approximately two weeks. For any time-sensitive
correspondence, please plan accordingly.
We will post all public comments we receive without change,
including any personal information you provide, such as your name and
address, email address, and telephone number, on the FHFA website at
<a href="https://www.fhfa.gov">https://www.fhfa.gov</a>.
Copies of all comments received will be available for examination
by the public through the electronic comment docket for this PRA Notice
also located on the FHFA website.
FOR FURTHER INFORMATION CONTACT: Liang Jensen, Senior Financial
Analyst, <a href="/cdn-cgi/l/email-protection#6b27020a050c45210e05180e052b0d030d0a450c041d"><span class="__cf_email__" data-cfemail="f8b49199969fd6b29d968b9d96b89e909e99d69f978e">[email protected]</span></a>, (202) 649-3464; or Angela Supervielle,
Counsel, <a href="/cdn-cgi/l/email-protection#c584aba2a0a9a4eb96b0b5a0b7b3aca0a9a9a085a3ada3a4eba2aab3"><span class="__cf_email__" data-cfemail="75341b121019145b2600051007031c1019191035131d13145b121a03">[email protected]</span></a>, (202) 649-3973 (these are not
toll-free numbers); Federal Housing Finance Agency, 400
[[Page 66184]]
Seventh Street SW, Washington, DC 20219. For TTY/TRS users with hearing
and speech disabilities, dial 711 and ask to be connected to any of the
contact numbers above.
SUPPLEMENTARY INFORMATION:
A. Need for and Use of the Information Collection
The Federal Housing Enterprises Financial Safety and Soundness Act
of 1992 (Safety and Soundness Act), as amended by the Federal Housing
Finance Regulatory Reform Act of 2008, Division A of the Housing and
Economic Recovery Act of 2008, requires FHFA to ensure that the
operations and activities of each regulated entity foster liquid,
efficient, competitive, and resilient national housing finance
markets.\1\ Recognizing the significant effects that the regulated
entities' potential use of fintech products and innovations could have
on the mortgage market and market participants, FHFA has an interest in
learning about new and emerging technologies which may have
applications in the mortgage space. To obtain information from the
public, FHFA plans to conduct a series of competitions called ``Tech
Sprints.'' The Tech Sprints will pose ``problem statements'' associated
with fintech in the housing finance market and solicit innovative
solutions from individuals and entities participating in the Tech
Sprint. The Tech Sprint solutions will support the Agency in developing
strategies for the regulated entities to advance housing finance
fintech in a safe and sound, responsible, and equitable manner.\2\
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\1\ 12 U.S.C. 4513(a)(1)(B)(ii).
\2\ See, e.g., 12 U.S.C. 4501(1) (Congressional recognition that
the regulated entities have important public purposes and so need to
be managed safely and soundly), and 12 U.S.C. 4501(7) (noting that
those public purposes include an affirmative obligation to
facilitate financing of affordable housing for low- and moderate-
income families).
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For each Tech Sprint, FHFA intends to collect information from
potential participants through a solicitation for expression of
interest to participate in the Tech Sprint, as well as information
collected during the Tech Sprint through the solutions to the challenge
statements presented. FHFA expects participation from market
participants in the housing finance industry and other industries,
including without limitation technology companies, mortgage companies,
academics, industry groups, and other members of the public.
B. Burden Estimate
FHFA estimates that two Tech Sprints will be conducted each year
over the next three years. The total annualized hour burden imposed
upon respondents by this information collection will be 5,000 hours,
based on the following calculations:
1. Applications
FHFA estimates that the average number of individuals applying to
participate in each Tech Sprint over the next three years will be 500,
with one response per applicant. The estimated time to complete each
application is one hour. Therefore, the estimate for the total annual
hour burden for all applications is 1,000 hours (500 applications x 1
hour per application x 2 Tech Sprints per year = 1,000 hours).
2. Tech Sprint Participants
FHFA estimates that each Tech Sprint will have an average of 50
participants. Each participant will spend an average of 40 hours
participating in the Tech Sprint. Therefore, the estimate for the total
annual hour burden for all Tech Sprint participants is 4,000 hours (50
participants x 40 hours per participant x 2 Tech Sprints per year =
4,000 hours).
C. Public Comments Request
Written comments are requested on: (1) whether the collection of
information is necessary for the proper performance of FHFA functions,
including whether the information has practical utility; (2) the
accuracy of FHFA's estimates of the burdens of the collection of
information; (3) ways to enhance the quality, utility, and clarity of
the information collected; and (4) ways to minimize the burden of the
collection of information on members and project sponsors, including
through the use of automated collection techniques or other forms of
information technology.
Shawn Bucholtz,
Chief Data Officer, Federal Housing Finance Agency.
[FR Doc. 2022-23828 Filed 11-1-22; 8:45 am]
BILLING CODE 8070-01-P
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