Withdrawal of Proposed Rule on Approval of Farm Credit System Lending Institutions in Federal Housing Administration (FHA) Mortgage Insurance Programs, 7558 [2012-3289]

Download as PDF 7558 Federal Register / Vol. 77, No. 29 / Monday, February 13, 2012 / Proposed Rules b. Has an internal normative database for automatically comparing your performance with that of the general population. c. Has a statistical analysis package that is able to calculate visual field indices, particularly mean deviation or mean defect. d. Demonstrates the ability to correctly detect visual field loss and correctly identify normal visual fields. e. Demonstrates good test-retest reliability. f. Has undergone clinical validation studies by three or more independent laboratories with results published in peer-reviewed ophthalmic journals. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT * AGENCY: * * * * erowe on DSK2VPTVN1PROD with PROPOSALS-1 102.01 Category of Impairments, Special Senses and Speech 102.02 Loss of central visual acuity. A. Remaining vision in the better eye after best correction is 20/200 or less. OR B. An inability to participate in visual acuity testing using Snellen methodology or other comparable testing, clinical findings that fixation and visual-following behavior are absent in the better eye, and one of the following: 1. Abnormal anatomical findings indicating a visual acuity of 20/200 or less in the better eye (such as the presence of Stage III or worse retinopathy of prematurity despite surgery, hypoplasia of the optic nerve, albinism with macular aplasia, or bilateral optic atrophy); or 2. Abnormal neuroimaging documenting damage to the cerebral cortex which would be expected to prevent the development of a visual acuity better than 20/200 in the better eye (such as neuroimaging showing bilateral encephalomyelitis or bilateral encephalomalacia); or 3. Abnormal electroretinogram documenting the presence of Leber’s congenital amaurosis or achromatopsia in the better eye; or 4. An absent response to VER testing in the better eye. 102.03 Contraction of the visual field in the better eye, with: A. The widest diameter subtending an angle around the point of fixation no greater than 20 degrees. OR B. An MD of 22 decibels or greater, determined by automated static threshold perimetry that measures the central 30 degrees of the visual field (see 102.00A6d). OR C. A visual field efficiency of 20 percent or less, determined by kinetic perimetry (see 102.00A7c). 102.04 Loss of visual efficiency in the better eye, with: A. A visual efficiency value of 1.00 or greater after best correction (see 102.00A7d(i)). OR B. A visual efficiency percentage of 20 or less after best correction (see 102.00A7d(ii)). * * * * * [FR Doc. 2012–3226 Filed 2–10–12; 8:45 am] BILLING CODE 4191–02–P VerDate Mar<15>2010 14:45 Feb 10, 2012 Jkt 226001 24 CFR Part 202 [Docket No. FR–5416–N–02] RIN 2502–AI91 Withdrawal of Proposed Rule on Approval of Farm Credit System Lending Institutions in Federal Housing Administration (FHA) Mortgage Insurance Programs Office of the Assistant Secretary for Housing—Federal Housing Commissioner, HUD. ACTION: Withdrawal of proposed rule. This notice withdraws HUD’s August 2011 rule that proposed to amend HUD’s regulations to enable the direct lending institutions of the Farm Credit System to seek approval to participate in the FHA mortgage insurance programs as approved mortgagees and lenders. DATES: The proposed rule is withdrawn February 13, 2012. FOR FURTHER INFORMATION CONTACT: Office of Lender Activities and Program Compliance, Department of Housing and Urban Development, 451 7th Street SW., Washington, DC 20410–8000; telephone number 202–708–1515 (this is not a toll-free number). Persons with hearing or speech impairments may access this number through TTY by calling the toll-free Federal Information Relay Service at 800–877–8339. SUPPLEMENTARY INFORMATION: SUMMARY: I. Background On August 26, 2011, at 76 FR 53362, HUD published a proposed rule that would enable the direct lending institutions of the Farm Credit System to seek approval to participate in the FHA mortgage insurance programs as FHA-approved mortgagees and lenders. In the proposed rule, HUD noted that recent difficulties in mortgage finance markets indicated reduced availability of housing credit in rural areas. HUD therefore proposed to extend FHA mortgagee and lender eligibility to the lending institutions of the Farm Credit System to provide an additional avenue for mortgage financing in rural areas. The Farm Credit System is a federally chartered network of borrower-owned lending institutions composed of cooperatives and related service organizations. The public comment period for the proposed rule closed on October 25, 2011. HUD received approximately 27 substantive public comments in response to the August 26, 2011, proposed rule. Certain comments PO 00000 Frm 00013 Fmt 4702 Sfmt 9990 were identical in substance, having been submitted as part of mailing campaigns. The public comments on this rule can be found at http://www.regulations.gov/ #!searchResults;rpp=10;po=0;s=FR5416-P-01. The commenters were almost evenly divided in their support of and opposition to the rule. Those commenters that supported the rule stated that there was indeed a need for available housing credit in rural areas and that allowing Farm Credit lending institutions to be FHA-approved lenders would aid in the necessary extension of credit. The commenters stated that the Farm Credit System has been a source of consistent and reliable credit for rural homeowners and that the ability to provide the option of FHA programs to families in rural areas will help ensure that the borrowing needs of rural families are met. Those commenters that opposed the rule stated that there was no need to expand FHA mortgage availability to Farm Credit member institutions; that the banking community was satisfactorily meeting the need for credit in rural areas. The commenters opposing the rule also stated that it was their view that approval of Farm Credit lending institutions to originate FHA insured loans runs afoul of the Administration’s proposal to reduce government involvement in the housing finance market. Upon consideration of the issues raised by public comments, HUD is withdrawing the August 26, 2011, proposed rule. While HUD seeks to ensure the availability of mortgage financing for qualified borrowers nationwide—and particularly in underserved areas—HUD and the Administration remain committed to reducing FHA’s market share and facilitating the return of private capital to the housing finance market. Therefore, in concert with its network of FHA-approved lending partners, FHA will continue to monitor the adequacy of mortgage credit in rural areas to ensure that rural residents have access to homeownership. Accordingly, the proposed rule to amend 24 CFR 202.10, published on August 26, 2011, at 76 FR 53362, entitled ‘‘Approval of Farm Credit System Lending Institutions in FHA Mortgage Insurance Programs,’’ is hereby withdrawn. Dated: February 7, 2012. Carol J. Galante, Acting Assistant Secretary for Housing— Federal Housing Commissioner. [FR Doc. 2012–3289 Filed 2–10–12; 8:45 am] BILLING CODE 4210–67–P E:\FR\FM\13FEP1.SGM 13FEP1

Agencies

[Federal Register Volume 77, Number 29 (Monday, February 13, 2012)]
[Proposed Rules]
[Page 7558]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2012-3289]


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DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT

24 CFR Part 202

[Docket No. FR-5416-N-02]
RIN 2502-AI91


Withdrawal of Proposed Rule on Approval of Farm Credit System 
Lending Institutions in Federal Housing Administration (FHA) Mortgage 
Insurance Programs

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

ACTION: Withdrawal of proposed rule.

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SUMMARY: This notice withdraws HUD's August 2011 rule that proposed to 
amend HUD's regulations to enable the direct lending institutions of 
the Farm Credit System to seek approval to participate in the FHA 
mortgage insurance programs as approved mortgagees and lenders.

DATES: The proposed rule is withdrawn February 13, 2012.

FOR FURTHER INFORMATION CONTACT: Office of Lender Activities and 
Program Compliance, Department of Housing and Urban Development, 451 
7th Street SW., Washington, DC 20410-8000; telephone number 202-708-
1515 (this is not a toll-free number). Persons with hearing or speech 
impairments may access this number through TTY by calling the toll-free 
Federal Information Relay Service at 800-877-8339.

SUPPLEMENTARY INFORMATION: 

I. Background

    On August 26, 2011, at 76 FR 53362, HUD published a proposed rule 
that would enable the direct lending institutions of the Farm Credit 
System to seek approval to participate in the FHA mortgage insurance 
programs as FHA-approved mortgagees and lenders. In the proposed rule, 
HUD noted that recent difficulties in mortgage finance markets 
indicated reduced availability of housing credit in rural areas. HUD 
therefore proposed to extend FHA mortgagee and lender eligibility to 
the lending institutions of the Farm Credit System to provide an 
additional avenue for mortgage financing in rural areas. The Farm 
Credit System is a federally chartered network of borrower-owned 
lending institutions composed of cooperatives and related service 
organizations. The public comment period for the proposed rule closed 
on October 25, 2011. HUD received approximately 27 substantive public 
comments in response to the August 26, 2011, proposed rule. Certain 
comments were identical in substance, having been submitted as part of 
mailing campaigns. The public comments on this rule can be found at 
http://www.regulations.gov/#!searchResults;rpp=10;po=0;s=FR-5416-P-01.
    The commenters were almost evenly divided in their support of and 
opposition to the rule. Those commenters that supported the rule stated 
that there was indeed a need for available housing credit in rural 
areas and that allowing Farm Credit lending institutions to be FHA-
approved lenders would aid in the necessary extension of credit. The 
commenters stated that the Farm Credit System has been a source of 
consistent and reliable credit for rural homeowners and that the 
ability to provide the option of FHA programs to families in rural 
areas will help ensure that the borrowing needs of rural families are 
met. Those commenters that opposed the rule stated that there was no 
need to expand FHA mortgage availability to Farm Credit member 
institutions; that the banking community was satisfactorily meeting the 
need for credit in rural areas. The commenters opposing the rule also 
stated that it was their view that approval of Farm Credit lending 
institutions to originate FHA insured loans runs afoul of the 
Administration's proposal to reduce government involvement in the 
housing finance market.
    Upon consideration of the issues raised by public comments, HUD is 
withdrawing the August 26, 2011, proposed rule. While HUD seeks to 
ensure the availability of mortgage financing for qualified borrowers 
nationwide--and particularly in underserved areas--HUD and the 
Administration remain committed to reducing FHA's market share and 
facilitating the return of private capital to the housing finance 
market. Therefore, in concert with its network of FHA-approved lending 
partners, FHA will continue to monitor the adequacy of mortgage credit 
in rural areas to ensure that rural residents have access to 
homeownership.
    Accordingly, the proposed rule to amend 24 CFR 202.10, published on 
August 26, 2011, at 76 FR 53362, entitled ``Approval of Farm Credit 
System Lending Institutions in FHA Mortgage Insurance Programs,'' is 
hereby withdrawn.

    Dated: February 7, 2012.
Carol J. Galante,
Acting Assistant Secretary for Housing--Federal Housing Commissioner.
[FR Doc. 2012-3289 Filed 2-10-12; 8:45 am]
BILLING CODE 4210-67-P