Status of New Uniform Residential Loan Application and Collection of Expanded Home Mortgage Disclosure Act Information About Ethnicity and Race in 2017, 66930-66949 [2016-23555]
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Federal Register / Vol. 81, No. 189 / Thursday, September 29, 2016 / Notices
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[FR Doc. 2016–23520 Filed 9–28–16; 8:45 am]
BILLING CODE 3510–22–P
BUREAU OF CONSUMER FINANCIAL
PROTECTION
Status of New Uniform Residential
Loan Application and Collection of
Expanded Home Mortgage Disclosure
Act Information About Ethnicity and
Race in 2017
Bureau of Consumer Financial
Protection.
ACTION: Bureau Official Approval.
AGENCY:
The Bureau of Consumer
Financial Protection (Bureau) is
publishing a notice pursuant to the
Equal Credit Opportunity Act
concerning the new Uniform Residential
Loan Application and the collection of
expanded Home Mortgage Disclosure
Act information about ethnicity and
race in 2017.
DATES: This official approval is issued
September 23, 2016. Entities may rely
on part III of this Bureau official
approval beginning January 1, 2017.
FOR FURTHER INFORMATION CONTACT:
James Wylie, Counsel, Office of
Regulations, Consumer Financial
Protection Bureau, 1700 G Street NW.,
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SUMMARY:
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Washington, DC 20552, at 202–435–
7700.
SUPPLEMENTARY INFORMATION:
I. Background
The Bureau of Consumer Financial
Protection (Bureau) administers the
Equal Credit Opportunity Act (ECOA),
15 U.S.C. 1691, et seq. and its
implementing regulation, Regulation B,
12 CFR part 1002. Section 706(e) of
ECOA, as amended, provides that no
provision of ECOA imposing liability
shall apply to any act done or omitted
in good faith in conformity with any
official rule, regulation, or interpretation
thereof by the Bureau or in conformity
with any interpretation or approval by
an official or employee of the Bureau
duly authorized by the Bureau to issue
such an interpretation or approval. This
notice (Bureau official approval)
constitutes such an interpretation or
approval, and therefore section 706(e)
protects a creditor from civil liability
under ECOA for any act done or omitted
in good faith in conformity with this
notice.
II. New Uniform Residential Loan
Application Status Under Regulation B
The Federal Home Loan Mortgage
Corporation and the Federal National
Mortgage Association (collectively, the
Enterprises), under the conservatorship
of the Federal Housing Finance Agency
(FHFA), issued a revised and redesigned
Uniform Residential Loan Application
on August 23, 2016, included as an
attachment to this notice (2016 URLA).1
This issuance was part of the effort of
these entities to update the Uniform
Loan Application Dataset (ULAD) in
conjunction with the 2016 URLA.
Bureau staff has reviewed the 2016
URLA in accordance with the request by
FHFA and the Enterprises for a Bureau
official approval of the 2016 URLA
under ECOA and Regulation B.
A. Background
A version of the URLA dated January
2004 is included in appendix B to
Regulation B as a model form. Appendix
B provides that the use of model forms
included in appendix B is optional
under Regulation B but that, if a creditor
uses an appropriate appendix B model
form, or modifies a form in accordance
with instructions provided in appendix
B, that creditor shall be deemed to be
acting in compliance with § 1002.5(b)
through (d). Regulation B comment
1 See 2016 URLA—Borrower Information, 2016
URLA—Additional Borrower, 2016 URLA—
Unmarried Addendum, 2016 URLA—Lender Loan
Information, 2016 URLA—Continuation Sheet, and
2016 URLA Demographic Information Addendum
included as attachments in part V of this notice.
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appendix B–1 provides that a previous
version of the URLA, dated October
1992, may be used by creditors without
violating Regulation B.
This Bureau official approval is being
issued separately from, and without
amending, the official interpretations to
Regulation B contained in Supplement
I to Regulation B. The Bureau will
consider whether to address the
treatment of outdated versions of the
URLA in appendix B and Supplement I
to Regulation B at a later date.
B. Bureau Official Approval
Regulation B § 1002.5(b) provides
rules concerning requests for
information about race, color, religion,
national origin, or sex. Section 1002.5(c)
provides rules concerning requests for
information about a spouse or former
spouse. Section 1002.5(d) provides rules
concerning requests for information
regarding marital status; income from
alimony, child support, or separate
maintenance; and childbearing or
childrearing. Bureau staff has
determined that the relevant language in
the 2016 URLA is in compliance with
these regulatory provisions. A creditor’s
use of the 2016 URLA is not required
under Regulation B. However, a creditor
that uses the 2016 URLA without any
modification that would violate
§ 1002.5(b) through (d) would act in
compliance with § 1002.5(b) through
(d). The issuance of this Bureau official
approval has been duly authorized by
the Director of the Bureau and provides
the protection afforded under section
706(e) of ECOA.
III. Collection of Expanded Home
Mortgage Disclosure Act Information
About Ethnicity and Race in 2017
This part of this Bureau official
approval addresses collection of
information concerning the ethnicity
and race of applicants in conformity
with Regulation B from January 1, 2017,
through December 31, 2017.
A. Background
With some exceptions, Regulation B
§ 1002.5(b) generally prohibits a creditor
from inquiring about the race, color,
religion, national origin, or sex of an
applicant or any other person in
connection with a credit transaction.
Regulation B § 1002.5(a)(2) provides an
exception to that prohibition for
information, including information
about ethnicity and race, for monitoring
purposes that creditors are required to
request for certain dwelling-secured
loans under § 1002.13, and for
information required by a regulation,
order, or agreement issued by or entered
into with a court or an enforcement
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agency to monitor or enforce
compliance with ECOA, Regulation B,
or other Federal or State statutes or
regulations, including Regulation C.2
Under Regulation C § 1003.4(a)(10),
lenders covered by Regulation C are
required to collect, record, and report
certain information, including
information regarding ethnicity and
race, that would be otherwise
prohibited.
Regulation C, as amended by the final
rule published in the Federal Register at
80 FR 66127 on October 28, 2015 (2015
HMDA final rule), will require financial
institutions to permit applicants to selfidentify using disaggregated ethnic and
racial categories beginning January 1,
2018.3 However, before that date, such
inquiries will not be required by
Regulation C or allowed under
Regulation B § 1002.5(a)(2), and
therefore creditors would be prohibited
by Regulation B § 1002.5(b) from
requesting applicants to self-identify
using the disaggregated ethnic and
racial categories.
The Bureau believes there will likely
be significant benefits to permitting
creditors to request, before January 1,
2018, that applicants self-identify using
the disaggregated ethnic and racial
categories under amended Regulation C,
using the processes and instructions
provided in amended appendix B to
Regulation C. The Bureau believes such
authorization may provide creditors
time to begin to implement the
regulatory changes and improve their
compliance processes before the new
requirement becomes effective, and
therefore mandatory, on January 1,
2018. Allowing for this increased
implementation period will reduce
compliance burden and further the
purposes of HMDA and Regulation C.
Some creditors may be ready to permit
applicants to self-identify using
disaggregated ethnic and racial
categories before January 1, 2018, but
could not fully transition to new forms
and processes because of the prohibition
in Regulation B § 1002.5(b). It may help
industry adoption of those standards to
allow creditors to permit applicants to
self-identify using disaggregated ethnic
and racial categories before January 1,
2018. Moreover, permitting applicants
to self-identify using the disaggregated
ethnic and racial categories as
2 Regulation B comment 5(a)(2)–2 explains that
Regulation C generally requires creditors covered by
HMDA to collect and report information about the
race, ethnicity, and sex of applicants for homeimprovement loans and home purchase loans,
including some types of loans not covered by
§ 1002.13.
3 80 FR 66314, amendments to appendix B to
Regulation C effective January 1, 2018.
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instructed in appendix B to Regulation
C, as amended by the 2015 HMDA final
rule, before the effective date of that rule
is consistent with the purposes of ECOA
and Regulation B and does not pose a
risk of harm to consumers. As the
Bureau explained in the 2015 HMDA
final rule, the Bureau believes that,
among other things, disaggregation will
encourage self-reporting by applicants
by offering, as the Census does,
categories that promote selfidentification.4
B. Bureau Official Approval
At any time from January 1, 2017,
through December 31, 2017, a creditor
may, at its option, permit applicants to
self-identify using disaggregated ethnic
and racial categories as instructed in
appendix B to Regulation C, as amended
by the 2015 HMDA final rule. During
this period, a creditor adopting the
practice of permitting applicants to selfidentify using disaggregated ethnic and
racial categories as instructed in
appendix B to Regulation C, as amended
by the 2015 HMDA final rule, shall not
be deemed to violate Regulation B
§ 1002.5(b). During this period, a
creditor adopting the practice of
permitting applicants to self-identify
using disaggregated ethnic and racial
categories as instructed in appendix B to
Regulation C, as amended by the 2015
HMDA final rule, shall also be deemed
to be in compliance with Regulation B
§ 1002.13(a)(i) even though applicants
are asked to self-identify using
categories other than those explicitly
provided in that section. The issuance
of this Bureau official approval has been
duly authorized by the Director of the
Bureau and provides the protection
afforded under section 706(e) of ECOA.
C. Instructions for Submitting Data
Collected Under This Approval
For purposes of submitting HMDA
data for applications received from
January 1, 2017, through December 31,
2017, and on which final action is taken
during the 2017 calendar year, a
financial institution shall submit the
information concerning ethnicity and
race pursuant to § 1003.4(a)(10), using
only aggregate categories and the codes
provided in the filing instructions guide
for HMDA data collected in 2017, even
if the financial institution has permitted
applicants to self-identify using
disaggregated categories pursuant to this
Bureau official approval.5 For such
4 HMDA
Final Rule, 80 FR at 66190.
2017 File Specifications in filing
instructions guide for HMDA data collected in
2017, available at: https://
www.consumerfinance.gov/data-research/hmda/
static/for-filers/2017/2017-HMDA-FIG.pdf.
5 See
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applications, if an applicant selects
multiple disaggregated ethnicity or race
categories that correspond to a single
aggregate ethnicity or race category, the
financial institution shall submit the
applicable code for that aggregate
ethnicity or race category. If an
applicant selects multiple disaggregated
race categories that correspond to
multiple aggregate race categories, the
financial institution shall submit the
applicable code for each of those
aggregate race categories. If an applicant
selects an ‘‘other’’ race or ethnicity
category, with or without providing a
written response, the financial
institution shall submit the applicable
code for that aggregate race or ethnicity
category. If an applicant selects multiple
aggregate ethnicity categories by either
selecting both Hispanic or Latino and
Not Hispanic or Latino or selecting Not
Hispanic or Latino and selecting the
‘‘other’’ ethnicity category, with or
without providing a written response,
the financial institution may submit
either the applicable code for Hispanic
or Latino or the applicable code for Not
Hispanic or Latino.
For purposes of submitting HMDA
data for applications received on or after
January 1, 2017, and before January 1,
2018, and on which final action is taken
on or after January 1, 2018, the financial
institution, at its option, may submit the
information concerning ethnicity and
race under § 1003.4(a)(10)(i) using
disaggregated categories if the applicant
provided such information instead of
using the transition rule in Regulation C
comment 4(a)(10)(i)–2 as adopted by the
2015 HMDA final rule, or it may submit
the information in accordance with that
transition rule.
IV. Regulatory Requirements
This Bureau official approval is an
approval or interpretation exempt from
notice and comment rulemaking
requirements under the Administrative
Procedure Act. See 5 U.S.C. 551, 553(b).
Because no notice of proposed
rulemaking is required, the Regulatory
Flexibility Act does not require an
initial or final regulatory flexibility
analysis. 5 U.S.C. 603(a), 604(a). The
Bureau has determined that this notice
does not impose any new or revise any
existing recordkeeping, reporting, or
disclosure requirements on covered
entities or members of the public that
would be collections of information
requiring OMB approval under the
Paperwork Reduction Act, 44 U.S.C.
3501, et seq. The existing information
collections required by the Equal Credit
Opportunity Act (ECOA) and Regulation
B have been approved by the Office Of
Management and Budget under OMB
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Control #3170–0013, and the
information collections for the Home
Mortgage Disclosure Act (HMDA) and
Regulation C are approved under OMB
Control #3170–0008. The Bureau’s
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approval of the revised Uniform
Residential Loan Application (2016
URLA) does not add or alter any
information collections approved under
either rule.
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V. 2016 Uniform Residential Loan
Application
BILLING CODE 4810–AM–P
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Current AddtHs
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Position or Titht
Start
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lndud.t in<:Om@ from oth@r ioor<:@t b•low. lind« lnrom@ Sour.:.,, dloos• from
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Financial Institution
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66935
Include 1111 other asseh below. Under Asset Type, moose from the usettypeslisted here:
Provide TOTAL Amount Here $
Usr all liabilities below (except real estate) and indude deferred paymmts.llnder AccountType, choosefr<~~m the types listed here:
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Creditor Name
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Addr;ss
Mortgage loans on this Prop!l)rty
Creditor Name
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Ac<:OuntNumber
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you
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Creditor Name
lndude all gifb and granb ~ow, Under Source, <:hoo~re from the sources li:l;ted here;
Borrower Namr.
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"
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66937
A. Wiil you occupy the property as your primary reside·nc1~f
If YES,
had.an
another
intbe
c.
D.
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E.
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A<Xnowlei:lgmen!S and Agl'feemenh
any
representation or w;mi!nty, express or implied, to me about the
property, ~B condition, its value.
14i Ele.::trcmi.:.Recorcb an.d SiiJn,.turelO
signing below, I agreelo, adiJU)Wileda and reprelOent
the following statements about:
11} The Complete lnfarmiltion for thi.s Appli<:ation
!
I must
application or any real estate sales contract, including prov.iding
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{6) U:ue and Sharing of lnfarmatton
Federal Register / Vol. 81, No. 189 / Thursday, September 29, 2016 / Notices
D Mexican
D Puerto RicZ~n
D Otb'ilr Hi~p~ni;;; orl~tlno
66939
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ID#
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0
0
Li~t Nlame(~j of Oth!!r Borrower{;>) Applying for thi~
(first,
loan
Last,
<Jpplyfor joint credit, Yollrillitiaft>: .
Contact lnformatil:m
Number
Marital Status
Oependenu (nor fisted by another Borrower)
HomePhono:
Cell
Work Phone
b:t.,_ _ __
Email.
Current Address
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Unit #
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Street
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66941
D
Gros.sMonthly lnmme
Previous Gross
Income
or Self-Employed
City _ _ _ _ _ _ _ _ _ _ _ _ _ St.ate _ _ _ Zip _ _ _ __
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Provide TOTAL Amount Here $
66942
F. Are
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co·~tgner or guarantor on any debt or loarnhat is not disclosed
8orrow11r Namr.
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G. Are there any ou!$!anding judgments against you?
66943
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This sectron asK:saoo:m
Exampl~s: Frjian,
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If you selectoed "llnmafrioed"in ~ionl, is
tho;;e
legal ipouoe?
0 NO
Federal Register / Vol. 81, No. 189 / Thursday, September 29, 2016 / Notices
Rrinonce Typ'l!!
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I
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DUE FROM BORROWER(St
c.
F.
G.
H. TOTALDIJE FROM BORROWER(sj [Total of A thru G)
$
TOTAl MORTGAGE lOANS
I.
$
J.
lt. TOTAL MORTGAGELOANS(Total ofl.mdJ)
TOTAL CREDITS
L Seller Credits
M. Other Credits
N. TOTAL CREDITS (Total oH and M)
CAlCULATION
Cash from/lo th• lorrow.r (lin!!! H minus lin• I< and
NOTE: Thts ilmount dOe!! not include r.serlifi or
to be verified.
Has the II:OI'I'ower(s) cornpllet.!d l'lomeawnersi'IID ed~t~articn.(<grc!l.l or web-based classes) within thelasl12 months.?
If 'lfES: ( 1) What form at was it In: (Che:ck t/1<1: most rKent) JAitl!!i'\d~!dWorksl'lop in Person
Who
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(2) Who orovid•lld
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66947
Application U:Se thi' continuatiM sheet if you need mMe 'f'l!iCe to complete the Uniform Residential loan Application.
Borrower Name (First, Middle, Last
.AddirionallnformatiM
Additional Bwrow""'Ni'llml!'
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AddttiMallnforml!ltiM
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Ethnidty
HispMic
0
D
Me,xican
Hi~p;;mi;;; orl~tim;~
Flnandalln,tltution{foroppll01tlcl)n token inp!tnon): •
Borrower Namr.
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To Be Completed
Federal Register / Vol. 81, No. 189 / Thursday, September 29, 2016 / Notices
Dated: September 23, 2016.
David Silberman,
Associate Director, Division of Research,
Markets, and Regulations, Bureau of
Consumer Financial Protection.
[FR Doc. 2016–23555 Filed 9–28–16; 8:45 am]
BILLING CODE 4810–AM–C
CORPORATION FOR NATIONAL AND
COMMUNITY SERVICE
Information Collection; Submission for
OMB Review, Comment Request
Comments
Corporation for National and
Community Service.
ACTION: Notice.
AGENCY:
The Corporation for National
and Community Service (CNCS) has
submitted a public information
collection request (ICR) entitled the
AmeriCorps NCCC Medical and Mental
Health Information Form for review and
approval in accordance with the
Paperwork Reduction Act of 1995,
Public Law 104–13, (44 U.S.C. Chapter
35). Copies of this ICR, with applicable
supporting documentation, may be
obtained by calling the Corporation for
National and Community Service, Tara
Lind-Zajac, at 202–606–6702 or email to
TLindZajac@cns.gov. Individuals who
use a telecommunications device for the
deaf (TTY–TDD) may call 1–800–833–
3722 between 8:00 a.m. and 8:00 p.m.
Eastern Time, Monday through Friday.
DATES: Comments may be submitted,
identified by the title of the information
collection activity, within October 31,
2016.
SUMMARY:
Comments may be
submitted, identified by the title of the
information collection activity, to the
Office of Information and Regulatory
Affairs, Attn: Ms. Sharon Mar, OMB
Desk Officer for the Corporation for
National and Community Service, by
any of the following two methods
within 30 days from the date of
publication in the Federal Register:
(1) By fax to: 202–395–6974,
Attention: Ms. Sharon Mar, OMB Desk
Officer for the Corporation for National
and Community Service; or
(2) By email to: smar@omb.eop.gov.
SUPPLEMENTARY INFORMATION: The OMB
is particularly interested in comments
which:
• Evaluate whether the proposed
collection of information is necessary
for the proper performance of the
functions of CNCS, including whether
the information will have practical
utility;
• Evaluate the accuracy of the
agency’s estimate of the burden of the
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proposed collection of information,
including the validity of the
methodology and assumptions used;
• Propose ways to enhance the
quality, utility, and clarity of the
information to be collected; and
• Propose ways to minimize the
burden of the collection of information
on those who are to respond, including
through the use of appropriate
automated, electronic, mechanical, or
other technological collection
techniques or other forms of information
technology.
A 60-day Notice requesting public
comment was published in the Federal
Register on Wednesday, May 18, 2016,
at 81 FR 31227. This comment period
ended July 18, 2016. No public
comments were received from this
Notice.
Description: The AmeriCorps NCCC
Medical and Mental Health Information
Form will be used to assess whether an
individual has the physical and mental
capacity required to perform the
essential functions of the AmeriCorps
NCCC member position, with or without
reasonable accommodation, for which
he or she is otherwise eligible.
Type of Review: New.
Agency: Corporation for National and
Community Service.
Title: AmeriCorps NCCC Medical and
Mental Health Information Form.
OMB Number: New.
Agency Number: None.
Affected Public: Applicants to
AmeriCorps NCCC.
Total Respondents: Approximately
8,500 per year.
Frequency: Once per completed NCCC
application.
Average Time per Response: Averages
15 minutes.
Estimated Total Burden Hours: 2,125
hours.
Total Burden Cost (capital/startup):
None.
Total Burden Cost (operating/
maintenance): None.
Charles Davenport,
Director of Recruitment, Selection, and
Placement.
[FR Doc. 2016–23487 Filed 9–28–16; 8:45 am]
BILLING CODE 6050–28–P
CORPORATION FOR NATIONAL AND
COMMUNITY SERVICE
Sunshine Act Notice
The Board of Directors of the
Corporation for National and
Community Service gives notice of the
following meeting:
PO 00000
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66949
Monday, October 3,
2016, 3:00 p.m.–4:30 p.m. (ET).
DATE AND TIME:
Corporation for National and
Community Service, 250 E Street SW.,
Suite 4026, Washington, DC 20525
(Please go to the first floor lobby
reception area for escort).
PLACE:
This meeting is
available to the public through the
following toll-free call-in number: 888–
847–7598 conference call access code
number 7964995. Any interested
member of the public may call this
number and listen to the meeting.
Callers can expect to incur charges for
calls they initiate over wireless lines,
and CNCS will not refund any incurred
charges. Callers will incur no charge for
calls they initiate over land-line
connections to the toll-free telephone
number. Replays are generally available
one hour after a call ends. The toll-free
phone number for the replay is 866–
367–6912. TTY: 800–833–3722. The end
replay date is November 3, 2016 at 10:59
p.m. (CT).
CALL-IN INFORMATION:
STATUS:
Open.
MATTERS TO BE CONSIDERED:
I. Chair’s Welcome and Call the Meeting
to Order
II. CEO’s Welcome and Report
III. National Service Programs Report
IV. Office of External Affairs Report
V. Public Comments
VI. Chair Adjourns Meeting
Members of the public who would like
to comment on the business of the
Board must do so in writing or in
person. Individuals may submit written
comments to dpremo@cns.gov subject
line: OCTOBER 2016 CNCS BOARD
MEETING by 3:00 p.m. (ET) on
September 29, 2016. Individuals
attending the meeting in person who
would like to comment will be asked to
sign-in upon arrival. Comments are
requested to be limited to 2 minutes.
The
Corporation for National and
Community Service provides reasonable
accommodations to individuals with
disabilities where appropriate. Anyone
who needs an interpreter or other
accommodation should notify David
Premo at dpremo@cns.gov or 202–606–
6717 by 3 p.m. (ET) on September 29,
2016.
REASONABLE ACCOMMODATIONS:
CONTACT PERSON FOR MORE INFORMATION:
Dave Premo, Program Support
Specialist, Corporation for National and
Community Service, 250 E Street SW.,
Washington, DC 20525. Phone: 202–
606–6717. Fax: 202–606–3460. TTY:
800–833–3722. Email: dpremo@cns.gov.
E:\FR\FM\29SEN1.SGM
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]]>Agencies
[Federal Register Volume 81, Number 189 (Thursday, September 29, 2016)]
[Notices]
[Pages 66930-66949]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2016-23555]
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BUREAU OF CONSUMER FINANCIAL PROTECTION
Status of New Uniform Residential Loan Application and Collection
of Expanded Home Mortgage Disclosure Act Information About Ethnicity
and Race in 2017
AGENCY: Bureau of Consumer Financial Protection.
ACTION: Bureau Official Approval.
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SUMMARY: The Bureau of Consumer Financial Protection (Bureau) is
publishing a notice pursuant to the Equal Credit Opportunity Act
concerning the new Uniform Residential Loan Application and the
collection of expanded Home Mortgage Disclosure Act information about
ethnicity and race in 2017.
DATES: This official approval is issued September 23, 2016. Entities
may rely on part III of this Bureau official approval beginning January
1, 2017.
FOR FURTHER INFORMATION CONTACT: James Wylie, Counsel, Office of
Regulations, Consumer Financial Protection Bureau, 1700 G Street NW.,
Washington, DC 20552, at 202-435-7700.
SUPPLEMENTARY INFORMATION:
I. Background
The Bureau of Consumer Financial Protection (Bureau) administers
the Equal Credit Opportunity Act (ECOA), 15 U.S.C. 1691, et seq. and
its implementing regulation, Regulation B, 12 CFR part 1002. Section
706(e) of ECOA, as amended, provides that no provision of ECOA imposing
liability shall apply to any act done or omitted in good faith in
conformity with any official rule, regulation, or interpretation
thereof by the Bureau or in conformity with any interpretation or
approval by an official or employee of the Bureau duly authorized by
the Bureau to issue such an interpretation or approval. This notice
(Bureau official approval) constitutes such an interpretation or
approval, and therefore section 706(e) protects a creditor from civil
liability under ECOA for any act done or omitted in good faith in
conformity with this notice.
II. New Uniform Residential Loan Application Status Under Regulation B
The Federal Home Loan Mortgage Corporation and the Federal National
Mortgage Association (collectively, the Enterprises), under the
conservatorship of the Federal Housing Finance Agency (FHFA), issued a
revised and redesigned Uniform Residential Loan Application on August
23, 2016, included as an attachment to this notice (2016 URLA).\1\ This
issuance was part of the effort of these entities to update the Uniform
Loan Application Dataset (ULAD) in conjunction with the 2016 URLA.
Bureau staff has reviewed the 2016 URLA in accordance with the request
by FHFA and the Enterprises for a Bureau official approval of the 2016
URLA under ECOA and Regulation B.
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\1\ See 2016 URLA--Borrower Information, 2016 URLA--Additional
Borrower, 2016 URLA--Unmarried Addendum, 2016 URLA--Lender Loan
Information, 2016 URLA--Continuation Sheet, and 2016 URLA
Demographic Information Addendum included as attachments in part V
of this notice.
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A. Background
A version of the URLA dated January 2004 is included in appendix B
to Regulation B as a model form. Appendix B provides that the use of
model forms included in appendix B is optional under Regulation B but
that, if a creditor uses an appropriate appendix B model form, or
modifies a form in accordance with instructions provided in appendix B,
that creditor shall be deemed to be acting in compliance with Sec.
1002.5(b) through (d). Regulation B comment appendix B-1 provides that
a previous version of the URLA, dated October 1992, may be used by
creditors without violating Regulation B.
This Bureau official approval is being issued separately from, and
without amending, the official interpretations to Regulation B
contained in Supplement I to Regulation B. The Bureau will consider
whether to address the treatment of outdated versions of the URLA in
appendix B and Supplement I to Regulation B at a later date.
B. Bureau Official Approval
Regulation B Sec. 1002.5(b) provides rules concerning requests for
information about race, color, religion, national origin, or sex.
Section 1002.5(c) provides rules concerning requests for information
about a spouse or former spouse. Section 1002.5(d) provides rules
concerning requests for information regarding marital status; income
from alimony, child support, or separate maintenance; and childbearing
or childrearing. Bureau staff has determined that the relevant language
in the 2016 URLA is in compliance with these regulatory provisions. A
creditor's use of the 2016 URLA is not required under Regulation B.
However, a creditor that uses the 2016 URLA without any modification
that would violate Sec. 1002.5(b) through (d) would act in compliance
with Sec. 1002.5(b) through (d). The issuance of this Bureau official
approval has been duly authorized by the Director of the Bureau and
provides the protection afforded under section 706(e) of ECOA.
III. Collection of Expanded Home Mortgage Disclosure Act Information
About Ethnicity and Race in 2017
This part of this Bureau official approval addresses collection of
information concerning the ethnicity and race of applicants in
conformity with Regulation B from January 1, 2017, through December 31,
2017.
A. Background
With some exceptions, Regulation B Sec. 1002.5(b) generally
prohibits a creditor from inquiring about the race, color, religion,
national origin, or sex of an applicant or any other person in
connection with a credit transaction. Regulation B Sec. 1002.5(a)(2)
provides an exception to that prohibition for information, including
information about ethnicity and race, for monitoring purposes that
creditors are required to request for certain dwelling-secured loans
under Sec. 1002.13, and for information required by a regulation,
order, or agreement issued by or entered into with a court or an
enforcement
[[Page 66931]]
agency to monitor or enforce compliance with ECOA, Regulation B, or
other Federal or State statutes or regulations, including Regulation
C.\2\ Under Regulation C Sec. 1003.4(a)(10), lenders covered by
Regulation C are required to collect, record, and report certain
information, including information regarding ethnicity and race, that
would be otherwise prohibited.
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\2\ Regulation B comment 5(a)(2)-2 explains that Regulation C
generally requires creditors covered by HMDA to collect and report
information about the race, ethnicity, and sex of applicants for
home-improvement loans and home purchase loans, including some types
of loans not covered by Sec. 1002.13.
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Regulation C, as amended by the final rule published in the Federal
Register at 80 FR 66127 on October 28, 2015 (2015 HMDA final rule),
will require financial institutions to permit applicants to self-
identify using disaggregated ethnic and racial categories beginning
January 1, 2018.\3\ However, before that date, such inquiries will not
be required by Regulation C or allowed under Regulation B Sec.
1002.5(a)(2), and therefore creditors would be prohibited by Regulation
B Sec. 1002.5(b) from requesting applicants to self-identify using the
disaggregated ethnic and racial categories.
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\3\ 80 FR 66314, amendments to appendix B to Regulation C
effective January 1, 2018.
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The Bureau believes there will likely be significant benefits to
permitting creditors to request, before January 1, 2018, that
applicants self-identify using the disaggregated ethnic and racial
categories under amended Regulation C, using the processes and
instructions provided in amended appendix B to Regulation C. The Bureau
believes such authorization may provide creditors time to begin to
implement the regulatory changes and improve their compliance processes
before the new requirement becomes effective, and therefore mandatory,
on January 1, 2018. Allowing for this increased implementation period
will reduce compliance burden and further the purposes of HMDA and
Regulation C. Some creditors may be ready to permit applicants to self-
identify using disaggregated ethnic and racial categories before
January 1, 2018, but could not fully transition to new forms and
processes because of the prohibition in Regulation B Sec. 1002.5(b).
It may help industry adoption of those standards to allow creditors to
permit applicants to self-identify using disaggregated ethnic and
racial categories before January 1, 2018. Moreover, permitting
applicants to self-identify using the disaggregated ethnic and racial
categories as instructed in appendix B to Regulation C, as amended by
the 2015 HMDA final rule, before the effective date of that rule is
consistent with the purposes of ECOA and Regulation B and does not pose
a risk of harm to consumers. As the Bureau explained in the 2015 HMDA
final rule, the Bureau believes that, among other things,
disaggregation will encourage self-reporting by applicants by offering,
as the Census does, categories that promote self-identification.\4\
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\4\ HMDA Final Rule, 80 FR at 66190.
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B. Bureau Official Approval
At any time from January 1, 2017, through December 31, 2017, a
creditor may, at its option, permit applicants to self-identify using
disaggregated ethnic and racial categories as instructed in appendix B
to Regulation C, as amended by the 2015 HMDA final rule. During this
period, a creditor adopting the practice of permitting applicants to
self-identify using disaggregated ethnic and racial categories as
instructed in appendix B to Regulation C, as amended by the 2015 HMDA
final rule, shall not be deemed to violate Regulation B Sec.
1002.5(b). During this period, a creditor adopting the practice of
permitting applicants to self-identify using disaggregated ethnic and
racial categories as instructed in appendix B to Regulation C, as
amended by the 2015 HMDA final rule, shall also be deemed to be in
compliance with Regulation B Sec. 1002.13(a)(i) even though applicants
are asked to self-identify using categories other than those explicitly
provided in that section. The issuance of this Bureau official approval
has been duly authorized by the Director of the Bureau and provides the
protection afforded under section 706(e) of ECOA.
C. Instructions for Submitting Data Collected Under This Approval
For purposes of submitting HMDA data for applications received from
January 1, 2017, through December 31, 2017, and on which final action
is taken during the 2017 calendar year, a financial institution shall
submit the information concerning ethnicity and race pursuant to Sec.
1003.4(a)(10), using only aggregate categories and the codes provided
in the filing instructions guide for HMDA data collected in 2017, even
if the financial institution has permitted applicants to self-identify
using disaggregated categories pursuant to this Bureau official
approval.\5\ For such applications, if an applicant selects multiple
disaggregated ethnicity or race categories that correspond to a single
aggregate ethnicity or race category, the financial institution shall
submit the applicable code for that aggregate ethnicity or race
category. If an applicant selects multiple disaggregated race
categories that correspond to multiple aggregate race categories, the
financial institution shall submit the applicable code for each of
those aggregate race categories. If an applicant selects an ``other''
race or ethnicity category, with or without providing a written
response, the financial institution shall submit the applicable code
for that aggregate race or ethnicity category. If an applicant selects
multiple aggregate ethnicity categories by either selecting both
Hispanic or Latino and Not Hispanic or Latino or selecting Not Hispanic
or Latino and selecting the ``other'' ethnicity category, with or
without providing a written response, the financial institution may
submit either the applicable code for Hispanic or Latino or the
applicable code for Not Hispanic or Latino.
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\5\ See 2017 File Specifications in filing instructions guide
for HMDA data collected in 2017, available at: https://www.consumerfinance.gov/data-research/hmda/static/for-filers/2017/2017-HMDA-FIG.pdf.
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For purposes of submitting HMDA data for applications received on
or after January 1, 2017, and before January 1, 2018, and on which
final action is taken on or after January 1, 2018, the financial
institution, at its option, may submit the information concerning
ethnicity and race under Sec. 1003.4(a)(10)(i) using disaggregated
categories if the applicant provided such information instead of using
the transition rule in Regulation C comment 4(a)(10)(i)-2 as adopted by
the 2015 HMDA final rule, or it may submit the information in
accordance with that transition rule.
IV. Regulatory Requirements
This Bureau official approval is an approval or interpretation
exempt from notice and comment rulemaking requirements under the
Administrative Procedure Act. See 5 U.S.C. 551, 553(b). Because no
notice of proposed rulemaking is required, the Regulatory Flexibility
Act does not require an initial or final regulatory flexibility
analysis. 5 U.S.C. 603(a), 604(a). The Bureau has determined that this
notice does not impose any new or revise any existing recordkeeping,
reporting, or disclosure requirements on covered entities or members of
the public that would be collections of information requiring OMB
approval under the Paperwork Reduction Act, 44 U.S.C. 3501, et seq. The
existing information collections required by the Equal Credit
Opportunity Act (ECOA) and Regulation B have been approved by the
Office Of Management and Budget under OMB
[[Page 66932]]
Control #3170-0013, and the information collections for the Home
Mortgage Disclosure Act (HMDA) and Regulation C are approved under OMB
Control #3170-0008. The Bureau's approval of the revised Uniform
Residential Loan Application (2016 URLA) does not add or alter any
information collections approved under either rule.
V. 2016 Uniform Residential Loan Application
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Dated: September 23, 2016.
David Silberman,
Associate Director, Division of Research, Markets, and Regulations,
Bureau of Consumer Financial Protection.
[FR Doc. 2016-23555 Filed 9-28-16; 8:45 am]
BILLING CODE 4810-AM-C
