Transfer of Home Mortgage Disclosure Act (HMDA) Data Collection to Federal Reserve Board, 48185-48186 [E5-4457]

Download as PDF Federal Register / Vol. 70, No. 157 / Tuesday, August 16, 2005 / Notices Florida, Georgia, and Mississippi. The submission deadline for these two funding opportunities was July 11, 2005. For those applicants located in one of these states, the revised submission date is August 22, 2005. For applicants unaffected by Hurricane Dennis, the submission deadline remains unchanged. FOR FURTHER INFORMATION CONTACT: For the Public Housing Neighborhood Networks NOFA, contact the Public and Indian Housing Information Resource Center toll-free at 1–800–955–2232 and for Indian Tribes and Tribally Designated Housing Entities (TDHE), call toll-free at 1–800–561–5913. For the Rural Housing and Economic Development NOFA, contact Jackie Williams, Director, Office of Rural Housing and Economic Development, Department of Housing and Urban Development, 451 Seventh Street, SW., Washington, DC 20410–7000; telephone (202) 708–2290 (this is not a toll-free number). Hearing- or speech-impaired persons may access these telephone numbers by calling the toll-free Federal Information Relay Service on 1–800–877–8339. SUPPLEMENTARY INFORMATION: On March 21, 2005 (70 FR 13575), HUD published its FY2005 SuperNOFA, which announced the availability of approximately $2.26 billion in HUD assistance. In a Federal Register notice published on May 18, 2005 (70 FR 28553), HUD extended the application submission deadline for the Public Housing Neighborhood Networks NOFA to July 11, 2005. On May 25, 2005 (70 FR 30136), HUD reopened the NOFA competition for the RHED program and extended the deadline to July 11, 2005. Due to Hurricane Dennis, which caused widespread power outages in the states of Alabama, Florida, Georgia, and Mississippi, the Department is extending the deadline for the RHED and Public Housing Neighborhood Networks NOFAs to August 22, 2005. This extension affects only applicants located in these four states. HUD will accept applications to the RHED program NOFA and Public Housing Neighborhood Networks program NOFA from applicants in the four affected states either through Grants.gov, or in hard copy (paper) submission consistent with the instructions in the March 21, 2005, SuperNOFA General Section, except that these affected applicants are not required to obtain a waiver from the electronic submission requirement and HUD recommends applicants use an overnight delivery method to ensure timely receipt of paper applications. Hard copy submissions should be sent VerDate jul<14>2003 18:02 Aug 15, 2005 Jkt 205001 to the appropriate address listed as follows: Public Housing Neighborhood Networks Program Department of Housing and Urban Development, Attn: Anice M. Schverish, 451 Seventh Street, SW., Room 3236, Washington, DC 20410–5000. (Applicants to the Public Housing Neighborhood Networks Program should submit an original and two copies of the application.) Rural Housing and Economic Development Department of Housing and Urban Development, Attn: Jackie L. Williams, Office of Rural Housing and Economic Development, 451 Seventh Street, SW., Room 7137, Washington, DC 20410– 7000. (Applicants to the RHED program should submit an original and two copies of the application.) Dated: August 8, 2005. Roy A. Bernardi, Deputy Secretary. [FR Doc. E5–4458 Filed 8–15–05; 8:45 am] BILLING CODE 4210–29–P DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT [Docket No. FR–5001–N–01] Transfer of Home Mortgage Disclosure Act (HMDA) Data Collection to Federal Reserve Board Office of the Assistant Secretary for Housing—Federal Housing Commissioner, HUD. ACTION: Notice. AGENCY: SUMMARY: This notice advises mortgagees that are required by the Home Mortgage Disclosure Act (HMDA) and Regulation C of the Federal Reserve Board (Board) to submit HMDA data to HUD to submit their annual HMDA reports, due on or before March 1st of each year, to the Board of Governors of the Federal Reserve, and not to HUD. DATES: Effective September 15, 2005. FOR FURTHER INFORMATION CONTACT: Jerry Fasick, Office of Evaluation, Department of Housing and Urban Development, 451 Seventh Street, SW., Washington, DC 20410–8000, telephone (202) 755– 7500 (this is not a toll-free number). Hearing- or speech-impaired individuals may access this number through TTY by calling the toll-free Federal Information Relay Service at (800) 877–8339. SUPPLEMENTARY INFORMATION: PO 00000 Frm 00087 Fmt 4703 Sfmt 4703 48185 Who Must Report HMDA Data All mortgagees, lenders, and loan correspondents that meet the requirements of Regulation C of the Board (see 12 U.S.C. part 203) must report each year data required by HMDA (12 U.S.C. 2801 et seq.). Coverage criteria and requirements are specified in ‘‘A Guide To HMDA Reporting— Getting It Right!’’ and on the Federal Financial Institutions Examination Council (FFIEC) HMDA Web site at https://www.ffiec.gov/hmda. Those requirements apply to for-profit mortgage-lending institutions (other than a bank, savings association, or credit union) that, in the preceding calendar year, either: (i)(A) Originated (made credit decision on) home purchase loans, including refinancing of home purchase loans, that equaled at least 10 percent of its loan-origination volume, measured in dollars; or (B) Originated (made credit decision on) home purchase loans, including refinancings of home purchase loans, that equaled at least $25 million; and (ii) On the preceding December 31, had a home or branch office in a Metropolitan Statistical Area/ Metropolitan Division (MSA/MD); or received applications for, originated or repurchased five or more home purchase loans, home improvement loans, or refinancings on property located in an MSA/MD; and (iii)(A) On the preceding December 31, had total assets of more than $10 million, counting the assets of any parent corporation; or (B) In the preceding calendar year, originated (made credit decision on) at least 100 home purchase loans, including refinancings of home purchase loans. HMDA requires at 12 U.S.C. 2803(h) that supervised lenders, whether or not they are lenders approved by the Federal Housing Administration (FHA), submit their HMDA data to their appropriate supervising agencies, i.e., the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the Office of the Comptroller of the Currency, the Office of Thrift Supervision, or the National Credit Union Administration. Currently, all HMDA data are submitted directly to the Board for initial processing. Nonsupervised lenders, regardless of whether or not they are FHA-approved, must submit their HMDA data to HUD (through the Board) with one exception. Regulation C, Disclosure and Reporting, at 12 CFR 203.5(a)(2), provides that a subsidiary of a bank or savings association shall submit its data directly E:\FR\FM\16AUN1.SGM 16AUN1 48186 Federal Register / Vol. 70, No. 157 / Tuesday, August 16, 2005 / Notices or through its parents to the agency that supervises the parent. Therefore, nonsupervised FHA-approved lenders and loan correspondents, which are subsidiaries of supervised lending institutions, are not required to submit their HMDA data to HUD. FFIEC HMDA Data Entry Software The FFIEC HMDA data entry software is available for download from the FFIEC HMDA Web site. Note that the next scheduled release of the software, Version 3.10, for calendar year 2005 data collection is available by download from the FFIEC HMDA Web site. The software is free and can be utilized for editing, reporting and submitting HMDA information. The FFIEC HMDA Web site provides detailed information on the required file specifications for HMDA reporting (https://www.ffiec.gov/hmda/ fileformats.htm). HUD would like to emphasize that it is extremely important for an institution that uses a third-party vendor to prepare and transmit its HMDA report to notify the third-party vendor immediately of this change, i.e., that non-supervised FHA-approved lenders and loan correspondents, which are subsidiaries of supervised lending institutions, are not required to submit their HMDA data to HUD. It is also important that an institution inform its vendor of the Board’s file specification and editing requirements. HMDA Editing and Reporting In addition, an institution’s HMDA data must be edited prior to submission using the FFIEC HMDA edits (https:// www.ffiec.gov/hmda/edits.htm). Regulation C requires all HMDA data submissions to be free of validity errors prior to submission. An institution must submit a validity-free submission or the institution is at risk of noncompliance. If an institution utilizes a third-party vendor’s software package, the institution can still take advantage of the benefits of the HMDA Data Entry Software by using the editing and reporting features. The software includes editing and reporting features to help the institution verify, complete, and analyze the institution’s HMDA data. The ‘Import’ feature will accept a valid ‘hmda.dat’ file created in a thirdparty vendor’s software that meets the HMDA file specifications. Once the file has been successfully imported into the software, the user can utilize the editing and reporting features. The ‘Export to Regulatory Agency via Internet e-mail’ feature creates a validity error-free encrypted file that can be transmitted via Internet e-mail directly to the Board at HMDASUB@frb.gov. Users may VerDate jul<14>2003 18:02 Aug 15, 2005 Jkt 205001 download a free copy of the software at https://www.ffiec.gov/hmda. Please note that reel tape submissions are not an accepted media type. Internet e-mail submission is the preferred electronic method to transmit an institution’s data. Other electronic submission media types that can be used are diskette and CD–ROM. However, regardless of the media type chosen, users must follow the HMDA file specifications and edits. HMDA Submission Checklist • Prepare the HMDA data submission. • Download a free copy of the FFIEC HMDA Data Entry Software (https:// www.ffiec.gov/hmda). • ‘Import’ the correctly formatted 2004 ‘mda.dat’ file for editing purposes. • Perform a ‘Batch Edit’ on the HMDA data and correct all validity errors. • Choose the (1) ‘Export’ option from the Front Page. Choose the (2) ‘Export to regulatory agency via Internet email’ option for encrypted submission to the Board. • Address the e-mail to HMDASUB@frb.gov, include all the required institution information and attach the encrypted HMDA file named HMDAENCR.ENC located at the following path: C:\HMDADES\int\hmdaencr.enc. • Send your encrypted, validity-free, HMDA data submission to the Board on or before March 1st of each year. Submission Address Send the encrypted e-mail file to HMDASUB@frb.gov for HMDA reporting on or before March 1st of each year. Sending the submission via Internet email is the most efficient process for submitting the HMDA data. If an institution chooses to mail (overnight) its submission in one of the other acceptable media types—diskette or CD–ROM—the mailing address is as follows and the mailing must be postmarked by March 1 of each year: Federal Reserve Board, ATTN: HMDA Processing, HUD, 20th & Constitution Avenue, NW., MS N502, Washington, DC 20551–0001. HMDA Questions Questions regarding the processing and reporting of HMDA data should be addressed to HMDAHELP@frb.gov or the HMDA Assistance Line on 202–452– 2016. Information Collection Requirements The information collection requirements contained in this notice have been approved by the Office of Management and Budget (OMB) under the Paperwork Reduction Act of 1995 PO 00000 Frm 00088 Fmt 4703 Sfmt 4703 (44 U.S.C. 3501–3520) and assigned OMB control number 2502–0529. In accordance with the Paperwork Reduction Act, HUD may not conduct or sponsor, and a person is not required to respond to, a collection of information unless the collection displays a currently valid OMB number. Dated: August 5, 2005. Brian Montgomery, Assistant Secretary for Housing-Federal Housing Commissioner. [FR Doc. E5–4457 Filed 8–15–05; 8:45 am] BILLING CODE 4210–27–P DEPARTMENT OF THE INTERIOR Fish and Wildlife Service Information Collection To Be Sent to the Office of Management and Budget (OMB) for Approval Under the Paperwork Reduction Act; OMB Control Number 1018–0128; Marine Turtle Conservation Fund Grant Program Fish and Wildlife Service, Interior. ACTION: Notice; request for comments. AGENCY: SUMMARY: We (Fish and Wildlife Service) will submit the collection of information described below to OMB for approval under the provisions of the Paperwork Reduction Act. We will use this information to determine which project proposals should be funded in accordance with the Marine Turtle Conservation Act (Pub. L. 108–266). DATES: You must submit comments on or before October 17, 2005. ADDRESSES: Send your comments and suggestions on specific requirements to the Information Collection Clearance Officer, Fish and Wildlife Service, MS 222–ARLSQ, 4401 N. Fairfax Drive, Arlington, VA 22203. FOR FURTHER INFORMATION CONTACT: To request a copy of the information collection submission, explanatory information, and/or related forms, contact Hope Grey, Information Collection Clearance Officer, at 703– 358–2482 or electronically at hope_grey@fws.gov. SUPPLEMENTARY INFORMATION: OMB regulations at 5 CFR 1320, which implement provisions of the Paperwork Reduction Act of 1995 (44 U.S.C. 3501 et seq.), require that interested members of the public and affected agencies be given an opportunity to comment on information collection and recordkeeping activities (see 5 CFR 1320.8(d)). On July 29, 2005, OMB approved our emergency request for E:\FR\FM\16AUN1.SGM 16AUN1

Agencies

[Federal Register Volume 70, Number 157 (Tuesday, August 16, 2005)]
[Notices]
[Pages 48185-48186]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E5-4457]


-----------------------------------------------------------------------

DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT

[Docket No. FR-5001-N-01]


Transfer of Home Mortgage Disclosure Act (HMDA) Data Collection 
to Federal Reserve Board

AGENCY: Office of the Assistant Secretary for Housing--Federal Housing 
Commissioner, HUD.

ACTION: Notice.

-----------------------------------------------------------------------

SUMMARY: This notice advises mortgagees that are required by the Home 
Mortgage Disclosure Act (HMDA) and Regulation C of the Federal Reserve 
Board (Board) to submit HMDA data to HUD to submit their annual HMDA 
reports, due on or before March 1st of each year, to the Board of 
Governors of the Federal Reserve, and not to HUD.

DATES: Effective September 15, 2005.

FOR FURTHER INFORMATION CONTACT: Jerry Fasick, Office of Evaluation, 
Department of Housing and Urban Development, 451 Seventh Street, SW., 
Washington, DC 20410-8000, telephone (202) 755-7500 (this is not a 
toll-free number). Hearing- or speech-impaired individuals may access 
this number through TTY by calling the toll-free Federal Information 
Relay Service at (800) 877-8339.

SUPPLEMENTARY INFORMATION: 

Who Must Report HMDA Data

    All mortgagees, lenders, and loan correspondents that meet the 
requirements of Regulation C of the Board (see 12 U.S.C. part 203) must 
report each year data required by HMDA (12 U.S.C. 2801 et seq.). 
Coverage criteria and requirements are specified in ``A Guide To HMDA 
Reporting--Getting It Right!'' and on the Federal Financial 
Institutions Examination Council (FFIEC) HMDA Web site at https://
www.ffiec.gov/hmda. Those requirements apply to for-profit mortgage-
lending institutions (other than a bank, savings association, or credit 
union) that, in the preceding calendar year, either:
    (i)(A) Originated (made credit decision on) home purchase loans, 
including refinancing of home purchase loans, that equaled at least 10 
percent of its loan-origination volume, measured in dollars; or
    (B) Originated (made credit decision on) home purchase loans, 
including refinancings of home purchase loans, that equaled at least 
$25 million; and
    (ii) On the preceding December 31, had a home or branch office in a 
Metropolitan Statistical Area/Metropolitan Division (MSA/MD); or 
received applications for, originated or repurchased five or more home 
purchase loans, home improvement loans, or refinancings on property 
located in an MSA/MD; and
    (iii)(A) On the preceding December 31, had total assets of more 
than $10 million, counting the assets of any parent corporation; or
    (B) In the preceding calendar year, originated (made credit 
decision on) at least 100 home purchase loans, including refinancings 
of home purchase loans.
    HMDA requires at 12 U.S.C. 2803(h) that supervised lenders, whether 
or not they are lenders approved by the Federal Housing Administration 
(FHA), submit their HMDA data to their appropriate supervising 
agencies, i.e., the Board of Governors of the Federal Reserve System, 
the Federal Deposit Insurance Corporation, the Office of the 
Comptroller of the Currency, the Office of Thrift Supervision, or the 
National Credit Union Administration. Currently, all HMDA data are 
submitted directly to the Board for initial processing. Non-supervised 
lenders, regardless of whether or not they are FHA-approved, must 
submit their HMDA data to HUD (through the Board) with one exception. 
Regulation C, Disclosure and Reporting, at 12 CFR 203.5(a)(2), provides 
that a subsidiary of a bank or savings association shall submit its 
data directly

[[Page 48186]]

or through its parents to the agency that supervises the parent. 
Therefore, non-supervised FHA-approved lenders and loan correspondents, 
which are subsidiaries of supervised lending institutions, are not 
required to submit their HMDA data to HUD.

FFIEC HMDA Data Entry Software

    The FFIEC HMDA data entry software is available for download from 
the FFIEC HMDA Web site. Note that the next scheduled release of the 
software, Version 3.10, for calendar year 2005 data collection is 
available by download from the FFIEC HMDA Web site. The software is 
free and can be utilized for editing, reporting and submitting HMDA 
information.
    The FFIEC HMDA Web site provides detailed information on the 
required file specifications for HMDA reporting (https://www.ffiec.gov/
hmda/fileformats.htm). HUD would like to emphasize that it is extremely 
important for an institution that uses a third-party vendor to prepare 
and transmit its HMDA report to notify the third-party vendor 
immediately of this change, i.e., that non-supervised FHA-approved 
lenders and loan correspondents, which are subsidiaries of supervised 
lending institutions, are not required to submit their HMDA data to 
HUD. It is also important that an institution inform its vendor of the 
Board's file specification and editing requirements.

HMDA Editing and Reporting

    In addition, an institution's HMDA data must be edited prior to 
submission using the FFIEC HMDA edits (https://www.ffiec.gov/hmda/
edits.htm). Regulation C requires all HMDA data submissions to be free 
of validity errors prior to submission. An institution must submit a 
validity-free submission or the institution is at risk of 
noncompliance.
    If an institution utilizes a third-party vendor's software package, 
the institution can still take advantage of the benefits of the HMDA 
Data Entry Software by using the editing and reporting features. The 
software includes editing and reporting features to help the 
institution verify, complete, and analyze the institution's HMDA data. 
The `Import' feature will accept a valid `hmda.dat' file created in a 
third-party vendor's software that meets the HMDA file specifications. 
Once the file has been successfully imported into the software, the 
user can utilize the editing and reporting features. The `Export to 
Regulatory Agency via Internet e-mail' feature creates a validity 
error-free encrypted file that can be transmitted via Internet e-mail 
directly to the Board at HMDASUB@frb.gov. Users may download a free 
copy of the software at https://www.ffiec.gov/hmda.
    Please note that reel tape submissions are not an accepted media 
type. Internet e-mail submission is the preferred electronic method to 
transmit an institution's data. Other electronic submission media types 
that can be used are diskette and CD-ROM. However, regardless of the 
media type chosen, users must follow the HMDA file specifications and 
edits.

HMDA Submission Checklist

 Prepare the HMDA data submission.
 Download a free copy of the FFIEC HMDA Data Entry Software 
(https://www.ffiec.gov/hmda).
 `Import' the correctly formatted 2004 `mda.dat' file for 
editing purposes.
 Perform a `Batch Edit' on the HMDA data and correct all 
validity errors.
 Choose the (1) `Export' option from the Front Page. Choose the 
(2) `Export to regulatory agency via Internet e-mail' option for 
encrypted submission to the Board.
 Address the e-mail to HMDASUB@frb.gov, include all the 
required institution information and attach the encrypted HMDA file 
named HMDAENCR.ENC located at the following path: 
C:[bs]HMDADES[bs]int[bs
]hmdaencr.enc.
 Send your encrypted, validity-free, HMDA data submission to 
the Board on or before March 1st of each year.

Submission Address

    Send the encrypted e-mail file to HMDASUB@frb.gov for HMDA 
reporting on or before March 1st of each year. Sending the submission 
via Internet e-mail is the most efficient process for submitting the 
HMDA data. If an institution chooses to mail (overnight) its submission 
in one of the other acceptable media types--diskette or CD-ROM--the 
mailing address is as follows and the mailing must be postmarked by 
March 1 of each year:
    Federal Reserve Board, ATTN: HMDA Processing, HUD, 20th & 
Constitution Avenue, NW., MS N502, Washington, DC 20551-0001.

HMDA Questions

    Questions regarding the processing and reporting of HMDA data 
should be addressed to HMDAHELP@frb.gov or the HMDA Assistance Line on 
202-452-2016.

Information Collection Requirements

    The information collection requirements contained in this notice 
have been approved by the Office of Management and Budget (OMB) under 
the Paperwork Reduction Act of 1995 (44 U.S.C. 3501-3520) and assigned 
OMB control number 2502-0529. In accordance with the Paperwork 
Reduction Act, HUD may not conduct or sponsor, and a person is not 
required to respond to, a collection of information unless the 
collection displays a currently valid OMB number.

    Dated: August 5, 2005.
Brian Montgomery,
Assistant Secretary for Housing-Federal Housing Commissioner.
[FR Doc. E5-4457 Filed 8-15-05; 8:45 am]
BILLING CODE 4210-27-P
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