Input sought on FDIC renewal of appraisal management company info collection

The Federal Deposit Insurance Corp. (FDIC) is accepting comments until Sept. 13 on a renewal of an existing information collection – Minimum requirements for appraisal management companies – involving recordkeeping and reporting requirements affecting participating states and appraisal management companies (AMCs) that are subsidiaries owned and controlled by insured depository institutions.

The FDIC says associated regulatory burden estimates have been revised. The FDIC received one comment on its initial proposal, from an organization representing AMCs. It hasn’t revised its burden estimates as suggested by this commenter (who thought the estimates should be doubled, the FDIC says) but encourages feedback by the Sept. 13 comment deadline.

The agency is seeking comments on the practical utility of the information collection; accuracy of burden estimates; how to enhance the quality, utility, and clarity of the information to be collected; and ways to minimize the burden of the information collection on respondents, including through the use of automated collection techniques or other forms.

Notice and request for comment