Proposed Collection; Comment Request, 65688-65689 [2012-26622]

Download as PDF 65688 Federal Register / Vol. 77, No. 210 / Tuesday, October 30, 2012 / Notices community support requirements. Only Bank members that meet these requirements may maintain continued access to long-term Bank advances. See 12 U.S.C. 1430(g). The OMB number for the information collection is 2590–0005. The OMB clearance for the information collection expires on October 31, 2012. The likely respondents are institutions that are Bank members. B. Burden Estimate C. Comment Request wreier-aviles on DSK7SPTVN1PROD with NOTICES In accordance with 5 CFR 1320.8(d), FHFA published a request for public comments regarding this information collection in the Federal Register on August 3, 2012. See 77 FR 46436. The 60-day comment period closed on October 2, 2012. FHFA received no public comments. FHFA requests written comments on the following: (1) Whether the collection of information is necessary for the proper performance of FHFA functions, including whether the information has practical utility; (2) the accuracy of the FHFA estimates of the burdens of the collection of information; (3) ways to enhance the quality, utility and clarity of the information collected; and (4) ways to minimize the burden of the collection of information, including through the use of automated collection techniques or other forms of information technology. Dated: October 23, 2012. Kevin Winkler, Chief Information Officer, Federal Housing Finance Agency. [FR Doc. 2012–26617 Filed 10–29–12; 8:45 am] BILLING CODE 8070–01–P 13:17 Oct 29, 2012 [No. 2012–N–15] Proposed Collection; Comment Request Federal Housing Finance Agency. ACTION: 30-Day notice of submission of information collection for approval from the Office of Management and Budget. AGENCY: In accordance with the requirements of the Paperwork Reduction Act of 1995, the Federal Housing Finance Agency (FHFA) is submitting the information collection known as ‘‘Federal Home Loan Bank Acquired Member Assets, Core Mission Activities, Investments and Advances,’’ to the Office of Management and Budget (OMB) for review and approval of a three-year extension of the control number 2590–0008 which is due to expire on October 31, 2012. DATES: Interested persons may submit comments on or before November 29, 2012. SUMMARY: The FHFA estimates the total annual average number of respondents that must complete Form 60 at 3,900 Bank members (half of all Bank members each year), with one response per member and an average burden per response of one hour. In addition, FHFA estimates the total annual average number of Bank members whose access to long-term advances has been restricted that will apply to FHFA to remove the restriction at 14 Bank members, with one response per member and an average burden per response of one hour. Thus, the estimate for the total annual hour burden is 3,914 hours. VerDate Mar<15>2010 FEDERAL HOUSING FINANCE AGENCY Jkt 229001 Submit comments to the Office of Information and Regulatory Affairs of the Office of Management and Budget, Attention: Desk Officer for the Federal Housing Finance Agency, Washington, DC 20503, Fax: (202) 395– 6974, Email address: OIRA_Submission@omb.eop.gov, and to FHFA using any one of the following methods: • Email: RegComments@fhfa.gov. please include Proposed Collection; Comment Request: Federal Home Loan Bank Acquired Member Assets, Core Mission Activities, Investments and Advances (No. 2012–N–15) in the subject line of the message. • Federal eRulemaking Portal: https:// www.regulations.gov. Follow the instructions for submitting comments. • Mail/Hand Delivery: Federal Housing Finance Agency, 400 Seventh Street SW., Eighth Floor, Washington, DC 20024, ATTENTION: Public Comments/Proposed Collection; Comment Request: Federal Home Loan Bank Acquired Member Assets, Core Mission Activities, Investments and Advances (No. 2012–N–15). We will post all public comments we receive without change, including any personal information you provide, such as your name, address (mailing and email), and telephone number on the FHFA Web site at https://www.fhfa.gov. In addition, copies of all comments received will be available for examination by the public on business days between the hours of 10 a.m. and ADDRESSES: PO 00000 Frm 00027 Fmt 4703 Sfmt 4703 3 p.m. at the Federal Housing Finance Agency, 400 Seventh Street SW., Eighth Floor, Washington, DC 20024. To make an appointment to inspect comments, please call the Office of General Counsel at (202) 649–3804. FOR FURTHER INFORMATION CONTACT: Rajkumar Thangavelu, Financial Database Specialist at 202–649–3943 (not a toll-free number), Rajkumar.Thangavelu@fhfa.gov. The telephone number for the Telecommunications Device for the Deaf is 800–877–8339. SUPPLEMENTARY INFORMATION: A. Need For and Use of the Information Collection The Federal Home Loan Banks (Banks) are authorized under 12 CFR part 955 to acquire from their member financial institutions and non-member housing associates certain home mortgage loans and related assets, which are referred to as ‘‘Acquired Member Assets’’ or ‘‘AMA.’’ In conjunction with this authority, each Bank that acquires AMA is required by regulation to report to FHFA certain data regarding each loan acquired, as specified in FHFA’s Data Reporting Manual (DRM). The DRM specifies 87 data elements that must be reported semi-annually for each new loan acquired, as well as 22 additional data elements that must be reported semiannually for existing AMA loans or loan participations held in the Bank’s portfolio. The DRM also requires that the Banks report aggregated AMA loan data on a quarterly basis. FHFA uses the collected loan-level and aggregated AMA data to monitor the safety and soundness of the Banks and the extent to which the Banks are fulfilling their statutory housing finance mission through their AMA programs.1 Since 2010, FHFA has also published the previous calendar year’s loan-level AMA data in an online public use database.2 The agency maintains this public use database in order to fulfill its duties under section 10(k) of the Federal Home Loan Bank Act (Bank Act), which requires that the Banks report to FHFA specified census tract-level data relating to purchased mortgages and that the agency make this data available to the public in a useful form.3 At the time that Congress enacted section 10(k) in 2008, the Banks were already reporting most 1 FHFA is responsible for supervising the safety and soundness of the Banks, as well as the fulfillment of the Banks’ statutory housing finance mission. See 12 U.S.C. 4513(a)(1). 2 This public use database is accessible at https:// www.fhfa.gov/Default.aspx?Page=304. 3 See 12 U.S.C. 1430(k). E:\FR\FM\30OCN1.SGM 30OCN1 wreier-aviles on DSK7SPTVN1PROD with NOTICES Federal Register / Vol. 77, No. 210 / Tuesday, October 30, 2012 / Notices of the data referenced in that provision pursuant to the existing requirements of part 955 and the DRM. In order to implement fully the new statutory requirements, FHFA amended the DRM in September 2009 to require the Banks to report to FHFA six additional data elements relating to newly-acquired AMA loans (in addition to then-existing 81 data elements) beginning in February 2010. While each Bank that acquires or holds AMA loans must report both loanlevel and aggregated AMA data directly to FHFA, the Bank initially must collect some of the underlying loan-level data from the member institution or housing associate from which the Bank acquires the loan (this is usually, but not always, the originator of the loan). The Bank typically collects the data for a particular AMA loan from the seller at the time the Bank agrees to acquire the loan. The Bank then uses this loan-level data to derive many of the other data elements that it is required to report to FHFA. For example, from the address of the property that secures the loan, a Bank is able to determine from publiclyavailable information the census tract code (and other similar geographic codes) for the property, as well as the median family income, and other data regarding the census tract or other defined geographic area. With this additional information, the Bank is also able to calculate various ratios, such as the ratio of the borrower’s income to the area median family income, which it is required to report under the DRM. Finally, some of the loan-level data originates with the Bank itself, such as the name of the acquiring Bank, the unique loan number assigned to the acquired loan, and the AMA program under which the loan was acquired. All but 8 to 10 of the data elements provided by the seller to the acquiring Bank are information that any purchaser of mortgage loans would require a seller to furnish in the ordinary course of business, even in the absence of any statutory or regulatory requirements. For example, the Bank must report, and the seller must therefore initially provide, data on: the location and type of the residential property securing the loan; the annual income and the debt-toincome ratio of the borrower and any co-borrowers; and the unpaid principal balance, term-to-maturity, interest rate, and type (i.e., fixed- or adjustable-rate) of the loan. The remaining data that would not normally be exchanged in the ordinary course of business comprises information identifying the race, ethnicity, and gender of the borrower and any co-borrowers, which are items that the Banks are required to aggregate VerDate Mar<15>2010 13:17 Oct 29, 2012 Jkt 229001 and report by census-tract to FHFA under section 10(k) of the Bank Act. It is these few items that comprise the actual information collection requirement to which Bank members and housing associates may be required to respond. The OMB control number for the information collection, which expires on October 31, 2012, is 2590–0008. The likely respondents are member and nonmember financial institutions that sell AMA assets to Banks. B. Burden Estimate FHFA estimates that the hour burden associated with the AMA collection will be lower than that estimated when the agency last requested clearance for this control number. FHFA estimates that the total annual average number of AMA loans acquired by all Banks will be 48,000 (640 member respondents x 75 loans per respondent). The estimate average time needed for a respondent to record and transmit the relevant data to the acquiring Bank will be 5 minutes per loan. Accordingly, the estimate for the total annual hour burden on respondents is 4,000 hours (640 x 75 x 5 minutes per loan). C. Comment Request In accordance with 5 CFR 1320.8(d), FHFA published a request for public comments regarding this information collection in the Federal Register on August 7, 2012. See 77 FR 47069. The 60-day comment period closed on October 9, 2012. FHFA received no public comments. FHFA requests written comments on the following: (1) Whether the collection of information is necessary for the proper performance of FHFA functions, including whether the information has practical utility; (2) the accuracy of the FHFA estimates of the burdens of the collection of information; (3) ways to enhance the quality, utility and clarity of the information collected; and (4) ways to minimize the burden of the collection of information, including through the use of automated collection techniques or other forms of information technology. Dated: October 24, 2012. Kevin Winkler, Chief Information Officer, Federal Housing Finance Agency. [FR Doc. 2012–26622 Filed 10–29–12; 8:45 am] BILLING CODE 8070–01–P PO 00000 Frm 00028 Fmt 4703 Sfmt 4703 65689 FEDERAL RESERVE SYSTEM Change in Bank Control Notices; Acquisitions of Shares of a Bank or Bank Holding Company The notificants listed below have applied under the Change in Bank Control Act (12 U.S.C. 1817(j)) and § 225.41 of the Board’s Regulation Y (12 CFR 225.41) to acquire shares of a bank or bank holding company. The factors that are considered in acting on the notices are set forth in paragraph 7 of the Act (12 U.S.C. 1817(j)(7)). The notices are available for immediate inspection at the Federal Reserve Bank indicated. The notices also will be available for inspection at the offices of the Board of Governors. Interested persons may express their views in writing to the Reserve Bank indicated for that notice or to the offices of the Board of Governors. Comments must be received not later than November 14, 2012. A. Federal Reserve Bank of St. Louis (Glenda Wilson, Community Affairs Officer) P.O. Box 442, St. Louis, Missouri 63166–2034: 1. Barbara K. Ferry, Nevada, Missouri, individually and as trustee of the L. Ingles Ferry Trust A; Barbara Fowler Ferry Trust; Hubert L. Fowler Trust; and the Marguerite Fowler Trust, and as a member of a family control group which includes L. Ingles Ferry; Hubert L. Fowler; Marguerite Fowler; David L. Ferry; Joseph D. Ferry; Patrick Ferry; Lindley G. Ferry; Barbara J. Benbrook; Scott D. Benbrook; Jeffrey L. Benbrook; and Emily L. Benbrook; to acquire voting shares of Mid-Missouri Bancshares, Inc., and thereby indirectly acquire voting shares of Mid-Missouri Bank, both in Springfield, Missouri. B. Federal Reserve Bank of Minneapolis (Jacqueline G. King, Community Affairs Officer) 90 Hennepin Avenue, Minneapolis, Minnesota 55480–0291: 1. Howard J. Rubin, Minneapolis, Minnesota, as Trustee of the Jeanie Rae Thorson 2012 Generation Skipping Trust, the Kristi Jo Jacobsen 2012 Generation Skipping Trust, and the Barbara Kay Billings 2012 Generation Skipping Trust, Minneapolis, Minnesota, to join the Hanson family shareholder group, acting in concert to acquire voting shares of First LeRoy BanCorporation, Inc., and thereby indirectly acquire voting shares of First State Bank Minnesota, both in LeRoy, Minnesota. E:\FR\FM\30OCN1.SGM 30OCN1

Agencies

[Federal Register Volume 77, Number 210 (Tuesday, October 30, 2012)]
[Notices]
[Pages 65688-65689]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2012-26622]


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FEDERAL HOUSING FINANCE AGENCY

[No. 2012-N-15]


Proposed Collection; Comment Request

AGENCY: Federal Housing Finance Agency.

ACTION: 30-Day notice of submission of information collection for 
approval from the Office of Management and Budget.

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

SUMMARY: In accordance with the requirements of the Paperwork Reduction 
Act of 1995, the Federal Housing Finance Agency (FHFA) is submitting 
the information collection known as ``Federal Home Loan Bank Acquired 
Member Assets, Core Mission Activities, Investments and Advances,'' to 
the Office of Management and Budget (OMB) for review and approval of a 
three-year extension of the control number 2590-0008 which is due to 
expire on October 31, 2012.

DATES: Interested persons may submit comments on or before November 29, 
2012.

ADDRESSES: Submit comments to the Office of Information and Regulatory 
Affairs of the Office of Management and Budget, Attention: Desk Officer 
for the Federal Housing Finance Agency, Washington, DC 20503, Fax: 
(202) 395-6974, Email address: OIRA_Submission@omb.eop.gov, and to 
FHFA using any one of the following methods:
     Email: RegComments@fhfa.gov. please include Proposed 
Collection; Comment Request: Federal Home Loan Bank Acquired Member 
Assets, Core Mission Activities, Investments and Advances (No. 2012-N-
15) in the subject line of the message.
     Federal eRulemaking Portal: https://www.regulations.gov. 
Follow the instructions for submitting comments.
     Mail/Hand Delivery: Federal Housing Finance Agency, 400 
Seventh Street SW., Eighth Floor, Washington, DC 20024, ATTENTION: 
Public Comments/Proposed Collection; Comment Request: Federal Home Loan 
Bank Acquired Member Assets, Core Mission Activities, Investments and 
Advances (No. 2012-N-15).
    We will post all public comments we receive without change, 
including any personal information you provide, such as your name, 
address (mailing and email), and telephone number on the FHFA Web site 
at https://www.fhfa.gov. In addition, copies of all comments received 
will be available for examination by the public on business days 
between the hours of 10 a.m. and 3 p.m. at the Federal Housing Finance 
Agency, 400 Seventh Street SW., Eighth Floor, Washington, DC 20024. To 
make an appointment to inspect comments, please call the Office of 
General Counsel at (202) 649-3804.

FOR FURTHER INFORMATION CONTACT: Rajkumar Thangavelu, Financial 
Database Specialist at 202-649-3943 (not a toll-free number), 
Rajkumar.Thangavelu@fhfa.gov. The telephone number for the 
Telecommunications Device for the Deaf is 800-877-8339.

SUPPLEMENTARY INFORMATION: 

A. Need For and Use of the Information Collection

    The Federal Home Loan Banks (Banks) are authorized under 12 CFR 
part 955 to acquire from their member financial institutions and non-
member housing associates certain home mortgage loans and related 
assets, which are referred to as ``Acquired Member Assets'' or ``AMA.'' 
In conjunction with this authority, each Bank that acquires AMA is 
required by regulation to report to FHFA certain data regarding each 
loan acquired, as specified in FHFA's Data Reporting Manual (DRM). The 
DRM specifies 87 data elements that must be reported semi-annually for 
each new loan acquired, as well as 22 additional data elements that 
must be reported semi-annually for existing AMA loans or loan 
participations held in the Bank's portfolio. The DRM also requires that 
the Banks report aggregated AMA loan data on a quarterly basis. FHFA 
uses the collected loan-level and aggregated AMA data to monitor the 
safety and soundness of the Banks and the extent to which the Banks are 
fulfilling their statutory housing finance mission through their AMA 
programs.\1\
---------------------------------------------------------------------------

    \1\ FHFA is responsible for supervising the safety and soundness 
of the Banks, as well as the fulfillment of the Banks' statutory 
housing finance mission. See 12 U.S.C. 4513(a)(1).
---------------------------------------------------------------------------

    Since 2010, FHFA has also published the previous calendar year's 
loan-level AMA data in an online public use database.\2\ The agency 
maintains this public use database in order to fulfill its duties under 
section 10(k) of the Federal Home Loan Bank Act (Bank Act), which 
requires that the Banks report to FHFA specified census tract-level 
data relating to purchased mortgages and that the agency make this data 
available to the public in a useful form.\3\ At the time that Congress 
enacted section 10(k) in 2008, the Banks were already reporting most

[[Page 65689]]

of the data referenced in that provision pursuant to the existing 
requirements of part 955 and the DRM. In order to implement fully the 
new statutory requirements, FHFA amended the DRM in September 2009 to 
require the Banks to report to FHFA six additional data elements 
relating to newly-acquired AMA loans (in addition to then-existing 81 
data elements) beginning in February 2010.
---------------------------------------------------------------------------

    \2\ This public use database is accessible at https://www.fhfa.gov/Default.aspx?Page=304.
    \3\ See 12 U.S.C. 1430(k).
---------------------------------------------------------------------------

    While each Bank that acquires or holds AMA loans must report both 
loan-level and aggregated AMA data directly to FHFA, the Bank initially 
must collect some of the underlying loan-level data from the member 
institution or housing associate from which the Bank acquires the loan 
(this is usually, but not always, the originator of the loan). The Bank 
typically collects the data for a particular AMA loan from the seller 
at the time the Bank agrees to acquire the loan. The Bank then uses 
this loan-level data to derive many of the other data elements that it 
is required to report to FHFA. For example, from the address of the 
property that secures the loan, a Bank is able to determine from 
publicly-available information the census tract code (and other similar 
geographic codes) for the property, as well as the median family 
income, and other data regarding the census tract or other defined 
geographic area. With this additional information, the Bank is also 
able to calculate various ratios, such as the ratio of the borrower's 
income to the area median family income, which it is required to report 
under the DRM. Finally, some of the loan-level data originates with the 
Bank itself, such as the name of the acquiring Bank, the unique loan 
number assigned to the acquired loan, and the AMA program under which 
the loan was acquired.
    All but 8 to 10 of the data elements provided by the seller to the 
acquiring Bank are information that any purchaser of mortgage loans 
would require a seller to furnish in the ordinary course of business, 
even in the absence of any statutory or regulatory requirements. For 
example, the Bank must report, and the seller must therefore initially 
provide, data on: the location and type of the residential property 
securing the loan; the annual income and the debt-to-income ratio of 
the borrower and any co-borrowers; and the unpaid principal balance, 
term-to-maturity, interest rate, and type (i.e., fixed- or adjustable-
rate) of the loan. The remaining data that would not normally be 
exchanged in the ordinary course of business comprises information 
identifying the race, ethnicity, and gender of the borrower and any co-
borrowers, which are items that the Banks are required to aggregate and 
report by census-tract to FHFA under section 10(k) of the Bank Act. It 
is these few items that comprise the actual information collection 
requirement to which Bank members and housing associates may be 
required to respond.
    The OMB control number for the information collection, which 
expires on October 31, 2012, is 2590-0008. The likely respondents are 
member and non-member financial institutions that sell AMA assets to 
Banks.

B. Burden Estimate

    FHFA estimates that the hour burden associated with the AMA 
collection will be lower than that estimated when the agency last 
requested clearance for this control number. FHFA estimates that the 
total annual average number of AMA loans acquired by all Banks will be 
48,000 (640 member respondents x 75 loans per respondent). The estimate 
average time needed for a respondent to record and transmit the 
relevant data to the acquiring Bank will be 5 minutes per loan. 
Accordingly, the estimate for the total annual hour burden on 
respondents is 4,000 hours (640 x 75 x 5 minutes per loan).

C. Comment Request

    In accordance with 5 CFR 1320.8(d), FHFA published a request for 
public comments regarding this information collection in the Federal 
Register on August 7, 2012. See 77 FR 47069. The 60-day comment period 
closed on October 9, 2012. FHFA received no public comments.
    FHFA requests written comments on the following: (1) Whether the 
collection of information is necessary for the proper performance of 
FHFA functions, including whether the information has practical 
utility; (2) the accuracy of the FHFA estimates of the burdens of the 
collection of information; (3) ways to enhance the quality, utility and 
clarity of the information collected; and (4) ways to minimize the 
burden of the collection of information, including through the use of 
automated collection techniques or other forms of information 
technology.

    Dated: October 24, 2012.
Kevin Winkler,
Chief Information Officer, Federal Housing Finance Agency.
[FR Doc. 2012-26622 Filed 10-29-12; 8:45 am]
BILLING CODE 8070-01-P
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