Sunshine Act Meeting, 30383 [07-2703]

Download as PDF Federal Register / Vol. 72, No. 104 / Thursday, May 31, 2007 / Notices D. Unaffordable loans. Consumer advocates state that some lenders extend loans without adequately considering the borrower’s ability to repay the loan. For example, lenders may qualify borrowers based on an ARM’s introductory rate and not at the fullyindexed rate that will apply once the introductory rate expires. Lenders state that it is appropriate to make such loans in certain circumstances, for example, where the borrower is likely to be able to refinance the loan at a lower rate before the reset date. Other circumstances include those in which borrowers expect to sell their home within a few years, or expect a significant decrease in their monthly obligations or a significant increase in income, such as a borrower who is completing professional training. Because loans are frequently sold to purchasers who generally cannot be held liable for the loan originator’s actions, and because the risk of default is spread out among investors in loan pools, some consumer advocates believe that there is insufficient accountability for making loans that consumers cannot repay. Recently the Board and the other banking and thrift regulators issued guidance on underwriting nontraditional mortgage products. The guidance provides that: sroberts on PROD1PC70 with NOTICES An institution’s analysis of a borrower’s repayment capacity should include an evaluation of their ability to repay the debt by final maturity at the fully indexed rate, assuming a fully amortizing repayment schedule. In addition, for products that permit negative amortization, the repayment analysis should be based upon the initial loan amount plus any balance increase that may accrue from the negative amortization provision. 71 FR 58609, 58614 (Oct. 4, 2006) (footnotes omitted). Some have urged that lenders should be required to underwrite all mortgage loans based on a fully-indexed rate and a fully amortizing payment. Some have also advocated a rebuttable presumption that a borrower cannot afford to repay a loan if the borrower’s debt-to-income ratio exceeds 50 percent and that such loans should be prohibited by regulation. The Board requests comment on the following questions: • Should lenders be required to underwrite all loans based on the fullyindexed rate and fully amortizing payments? • Should there be a rebuttable presumption that a loan is unaffordable if the borrower’s debt-to-income ratio exceeds 50 percent (at loan origination)? VerDate Aug<31>2005 16:01 May 30, 2007 Jkt 211001 • Are there specific consumer disclosures that would help address concerns about unaffordable loans? • How would such provisions affect consumers and the type and terms of credit offered? By order of the Board of Governors of the Federal Reserve System, May 24, 2007. Jennifer J. Johnson, Secretary of the Board. [FR Doc. E7–10395 Filed 5–30–07; 8:45 am] BILLING CODE 6210–01–P FEDERAL RETIREMENT THRIFT INVESTMENT BOARD Employee Thrift Advisory Council Sunshine Act Meeting 1:30 p.m. (Eastern Time), June 12, 2007. PLACE: 4th Floor, Conference Room, 1250 H Street, NW., Washington, DC. STATUS: Open. MATTERS TO BE CONSIDERED: 1. Approval of the minutes of the February 7, 2007 meeting. 2. Nomination of Council Chairman and election of Vice Chairman. 3. Report of the Executive Director on Thrift Savings Plan Status. 4. Discussion of three potential FRTIB legislative proposals (automatic enrollment, L Fund default investments, Roth feature). 5. Other proposals. 6. New business. CONTACT PERSON FOR MORE INFORMATION: Thomas K. Emswiler, Committee Management Officer, (202) 942–1660. TIME AND DATE: Dated: May 25, 2007. Thomas K. Emswiler, General Counsel, Federal Retirement Thrift Investment Board. [FR Doc. 07–2703 Filed 5–29–07; 9:44 am] 30383 reappointments to fill the vacancies occurring this year. DATES: Appointments are effective May 1, 2007 through April 30, 2010, except as noted. ADDRESSES: GAO: 441 G Street, NW., Washington, DC 20548. MedPAC: 601 New Jersey Avenue, NW., Suite 9000, Washington, DC 20001. FOR FURTHER INFORMATION CONTACT: GAO Office of Public Affairs, (202) 512– 4800. MedPAC: Mark E. Miller, PhD, (202) 220–3700. SUPPLEMENTARY INFORMATION: To fill this year’s vacancies I am announcing the following: Newly appointed members are Thomas M. Dean, M.D., Chief of Staff, Avera Weskota Memorial Medical Center; Jack C. Ebeler, Independent consultant; and Bruce Stuart, PhD, professor and executive director, Peter Lamy Center on Drug Therapy and Aging, University of Maryland Baltimore. Professor Stuart is appointed to complete the remaining two years of Douglas Holtz-Eakin’s three-year term that began in 2006. Holtz-Eakin resigned from his position on MedPAC effective May 2, 2007. Reappointed members are John M. Bertko, F.S.A., M.A.A.A., vice president and chief actuary, Humana Inc.; Francis J. Crosson, M.D., executive director, the Permanente Federation, LLC; Arnold Milstein, M.D., M.P.H., medical director, Pacific Business Group on Health; and William J. Scanlon, PhD, health policy consultant. (Sec. 4022, Pub. L. 105–33, 111 Stat. 251, 350) David M. Walker, Comptroller General of the United States. [FR Doc. 07–2680 Filed 5–30–07; 8:45 am] BILLING CODE 1610–02–M BILLING CODE 6760–01–P DEPARTMENT OF HEALTH AND HUMAN SERVICES GOVERNMENT ACCOUNTABILITY OFFICE Agency for Healthcare Research and Quality Appointments to the Medicare Payment Advisory Commission Notice of Meeting Government Accountability Office (GAO). ACTION: Notice of appointments. AGENCY: SUMMARY: The Balanced Budget Act of 1997 established the Medicare Payment Advisory Commission (MedPAC) and gave the Comptroller General responsibility for appointing its members. This notice announces three new appointments and four PO 00000 Frm 00052 Fmt 4703 Sfmt 4703 In accordance with section 10(d) of the Federal Advisory Committee Act (5 U.S.C., Appendix 2), announcement is made of a Health Care Policy and Research Special Emphasis Panel (SEP) meeting. A Special Emphasis Panel is a group of experts in fields related to health care research who are invited by the Agency for Healthcare Research and Quality (AHRQ), and agreed to be available, to conduct on an as needed basis, E:\FR\FM\31MYN1.SGM 31MYN1

Agencies

[Federal Register Volume 72, Number 104 (Thursday, May 31, 2007)]
[Notices]
[Page 30383]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 07-2703]


=======================================================================
-----------------------------------------------------------------------

FEDERAL RETIREMENT THRIFT INVESTMENT BOARD

Employee Thrift Advisory Council


Sunshine Act Meeting

Time and Date: 1:30 p.m. (Eastern Time), June 12, 2007.

Place: 4th Floor, Conference Room, 1250 H Street, NW., Washington, DC.

Status: Open.

Matters To Be Considered: 
    1. Approval of the minutes of the February 7, 2007 meeting.
    2. Nomination of Council Chairman and election of Vice Chairman.
    3. Report of the Executive Director on Thrift Savings Plan Status.
    4. Discussion of three potential FRTIB legislative proposals 
(automatic enrollment, L Fund default investments, Roth feature).
    5. Other proposals.
    6. New business.

Contact Person For More Information: Thomas K. Emswiler, Committee 
Management Officer, (202) 942-1660.

    Dated: May 25, 2007.
Thomas K. Emswiler,
General Counsel, Federal Retirement Thrift Investment Board.
[FR Doc. 07-2703 Filed 5-29-07; 9:44 am]
BILLING CODE 6760-01-P