Notice2023-00211
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
January 10, 2023
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 88 Issue 6 (Tuesday, January 10, 2023)</title>
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[Federal Register Volume 88, Number 6 (Tuesday, January 10, 2023)]
[Notices]
[Pages 1385-1386]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2023-00211]
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FEDERAL HOUSING FINANCE AGENCY
[No. 2023-N-1]
Proposed Collection; Comment Request
AGENCY: Federal Housing Finance Agency.
ACTION: 30-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 February 9,
2023.
ADDRESSES: Submit comments to the Office of Information and Regulatory
Affairs of the Office of Management and Budget, Attention: Desk Officer
for the Federal Housing Finance Agency, Washington, DC 20503, Fax:
(202) 395-3047, Email: <a href="/cdn-cgi/l/email-protection#e5aaacb7a4ba969087888c96968c8a8ba58a8887cb808a95cb828a93"><span class="__cf_email__" data-cfemail="8fc0c6ddced0fcfaede2e6fcfce6e0e1cfe0e2eda1eae0ffa1e8e0f9">[email protected]</span></a>. Please also submit
comments to FHFA, identified by ``Proposed Collection; Comment Request:
`Tech Sprints, (No. 2023-N-1)' '' 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#396b5c5e7a5654545c574d4a795f515f58175e564f"><span class="__cf_email__" data-cfemail="a1f3c4c6e2ceccccc4cfd5d2e1c7c9c7c08fc6ced7">[email protected]</span></a> to ensure timely receipt by the agency.
<bullet> Mail/Hand Delivery: Federal Housing Finance Agency, Office
of General Counsel, 400 Seventh Street SW, Washington, DC 20219,
ATTENTION: Proposed Collection; Comment Request: ``Tech Sprints, (No.
2023-N-1).'' 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="http://www.fhfa.gov">http://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#430f2a222d246d09262d30262d03252b25226d242c35"><span class="__cf_email__" data-cfemail="c28eaba3aca5ec88a7acb1a7ac82a4aaa4a3eca5adb4">[email protected]</span></a>, (202) 649-3464; or Angela Supervielle,
Counsel, <a href="/cdn-cgi/l/email-protection#aaebc4cdcfc6cb84f9dfdacfd8dcc3cfc6c6cfeaccc2cccb84cdc5dc"><span class="__cf_email__" data-cfemail="7b3a151c1e171a55280e0b1e090d121e17171e3b1d131d1a551c140d">[email protected]</span></a>, (202) 649-3973 (these are not
toll-free numbers); Federal Housing Finance Agency, 400 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
[[Page 1386]]
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 problem
statements presented. FHFA expects participation from market
participants in the housing finance industry and other industries,
including 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 8,200 hours,
based on the following calculations:
1. Tech Sprint Applications
FHFA estimates that the average number of individuals applying to
participate in each Tech Sprint over the next three years will be 200,
with one response per applicant. The estimated time to complete each
application is half an hour. Therefore, the estimate for the total
annual hour burden for all applications is 200 hours (200 applications
x .5 hours per application x 2 Tech Sprints per year = 200 hours).
2. Tech Sprint Participation
FHFA estimates that each Tech Sprint will have an average of 80
participants. Each participant will spend an average of 50 hours
participating in the Tech Sprint. Therefore, the estimate for the total
annual hour burden for all Tech Sprint participants is 8,000 hours (80
participants x 50 hours per participant x 2 Tech Sprints per year =
8,000 hours).
C. Public Comments Request
In accordance with the requirements of 5 CFR 1320.8(d), FHFA
published an initial notice and request for public comments regarding
this information collection in the Federal Register on November 2,
2022.\3\ The 60-day comment period closed on January 3, 2023. FHFA
received no comments.
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\3\ See 87 FR 66183 (Nov. 2, 2022).
Shawn Bucholtz,
Chief Data Officer, Federal Housing Finance Agency.
[FR Doc. 2023-00211 Filed 1-9-23; 8:45 am]
BILLING CODE 8070-01-P
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