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]

Download as PDF 66930 Federal Register / Vol. 81, No. 189 / Thursday, September 29, 2016 / Notices 1. The Review Panel participants will review the stock assessment reports to determine if they are scientifically sound. Although non-emergency issues not contained in this agenda may come before this group for discussion, those issues may not be the subject of formal action during this meeting. Action will be restricted to those issues specifically identified in this notice and any issues arising after publication of this notice that require emergency action under section 305(c) of the Magnuson-Stevens Fishery Conservation and Management Act, provided the public has been notified of the intent to take final action to address the emergency. Special Accommodations These meetings are physically accessible to people with disabilities. Requests for auxiliary aids should be directed to the SAFMC office (see ADDRESSES) at least 5 business days prior to the meeting. Note: The times and sequence specified in this agenda are subject to change. Authority: 16 U.S.C. 1801 et seq. Dated: September 26, 2016. Tracey L. Thompson, Acting Director, Office of Sustainable Fisheries, National Marine Fisheries Service. [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., mstockstill on DSK3G9T082PROD with NOTICES SUMMARY: VerDate Sep<11>2014 18:51 Sep 28, 2016 Jkt 238001 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. PO 00000 Frm 00012 Fmt 4703 Sfmt 4703 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 E:\FR\FM\29SEN1.SGM 29SEN1 Federal Register / Vol. 81, No. 189 / Thursday, September 29, 2016 / Notices mstockstill on DSK3G9T082PROD with NOTICES 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. VerDate Sep<11>2014 18:51 Sep 28, 2016 Jkt 238001 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: http:// www.consumerfinance.gov/data-research/hmda/ static/for-filers/2017/2017-HMDA-FIG.pdf. 5 See PO 00000 Frm 00013 Fmt 4703 Sfmt 4703 66931 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 E:\FR\FM\29SEN1.SGM 29SEN1 66932 Federal Register / Vol. 81, No. 189 / Thursday, September 29, 2016 / Notices mstockstill on DSK3G9T082PROD with NOTICES 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 VerDate Sep<11>2014 18:51 Sep 28, 2016 Jkt 238001 approval of the revised Uniform Residential Loan Application (2016 URLA) does not add or alter any information collections approved under either rule. PO 00000 Frm 00014 Fmt 4703 Sfmt 4703 V. 2016 Uniform Residential Loan Application BILLING CODE 4810–AM–P E:\FR\FM\29SEN1.SGM 29SEN1 Federal Register / Vol. 81, No. 189 / Thursday, September 29, 2016 / Notices 66933 VerDate Sep<11>2014 18:51 Sep 28, 2016 Jkt 238001 PO 00000 Frm 00015 Fmt 4703 Sfmt 4725 E:\FR\FM\29SEN1.SGM 29SEN1 EN29SE16.005</GPH> mstockstill on DSK3G9T082PROD with NOTICES Current AddtHs 66934 Federal Register / Vol. 81, No. 189 / Thursday, September 29, 2016 / Notices Position or Titht Start [J Dl>es not apply lndud.t in<:Om@ from oth@r ioor<:@t b•low. lind« lnrom@ Sour.:.,, dloos• from ,child th• wllrc@i liitlt•d h«@: and NOTE: (or thi~ loa11. NIQJ!thly Income s P,ovideTOTAL Amount H«e $ Acc:oun.tNumbar Borrower Namr. . t .f lrclliH'ciOH//OH\ • Effe<:tlve OUZ011 VerDate Sep<11>2014 18:51 Sep 28, 2016 Jkt 238001 PO 00000 Frm 00016 Fmt 4703 Sfmt 4725 E:\FR\FM\29SEN1.SGM 29SEN1 EN29SE16.006</GPH> mstockstill on DSK3G9T082PROD with NOTICES Financial Institution Federal Register / Vol. 81, No. 189 / Thursday, September 29, 2016 / Notices 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: ·Revolving (e.!J., (bai<Pnre ptlidrm:m!ll!y) Addrtis For lnveitmmt Property Only Month!)' Rflntai Property Value Income Mortgage loans on this Prop~trty Borrower Namr. HJ\H VerDate Sep<11>2014 18:51 Sep 28, 2016 Jkt 238001 PO 00000 Frm 00017 Fmt 4703 Sfmt 4725 E:\FR\FM\29SEN1.SGM 29SEN1 EN29SE16.007</GPH> mstockstill on DSK3G9T082PROD with NOTICES Creditor Name 66936 Federal Register / Vol. 81, No. 189 / Thursday, September 29, 2016 / Notices Addr;ss Mortgage loans on this Prop!l)rty Creditor Name D Doa notapply Ac<:OuntNumber Unpaid Balance you This .se-ction asks Creditor Name lndude all gifb and granb ~ow, Under Source, <:hoo~re from the sources li:l;ted here; Borrower Namr. VerDate Sep<11>2014 18:51 Sep 28, 2016 Jkt 238001 PO 00000 Frm 00018 Fmt 4703 Sfmt 4725 E:\FR\FM\29SEN1.SGM 29SEN1 EN29SE16.008</GPH> mstockstill on DSK3G9T082PROD with NOTICES " Federal Register / Vol. 81, No. 189 / Thursday, September 29, 2016 / Notices 66937 A. Wiil you occupy the property as your primary reside·nc1~f If YES, had.an another intbe c. D. VerDate Sep<11>2014 18:51 Sep 28, 2016 Jkt 238001 PO 00000 Frm 00019 Fmt 4703 Sfmt 4725 E:\FR\FM\29SEN1.SGM 29SEN1 EN29SE16.009</GPH> mstockstill on DSK3G9T082PROD with NOTICES E. 66938 Federal Register / Vol. 81, No. 189 / Thursday, September 29, 2016 / Notices 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 VerDate Sep<11>2014 18:51 Sep 28, 2016 Jkt 238001 PO 00000 Frm 00020 Fmt 4703 Sfmt 4725 E:\FR\FM\29SEN1.SGM 29SEN1 EN29SE16.010</GPH> mstockstill on DSK3G9T082PROD with NOTICES {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 D Cuban [J [J S!!'IJ( Clfemale Borrower Name:~~~~~~~~~~~~~~~~~~ Unilorm ll<''ilcl0nll<~ll onn ·f . Eff«tlv<~ VerDate Sep<11>2014 ou:une 18:51 Sep 28, 2016 Jkt 238001 PO 00000 Frm 00021 Fmt 4703 Sfmt 4725 E:\FR\FM\29SEN1.SGM 29SEN1 EN29SE16.011</GPH> mstockstill on DSK3G9T082PROD with NOTICES ID# 66940 Federal Register / Vol. 81, No. 189 / Thursday, September 29, 2016 / Notices 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 VerDate Sep<11>2014 Unit # 18:51 Sep 28, 2016 Jkt 238001 PO 00000 Frm 00022 Fmt 4703 Sfmt 4725 E:\FR\FM\29SEN1.SGM 29SEN1 EN29SE16.012</GPH> mstockstill on DSK3G9T082PROD with NOTICES Street Federal Register / Vol. 81, No. 189 / Thursday, September 29, 2016 / Notices 66941 D Gros.sMonthly lnmme Previous Gross Income or Self-Employed City _ _ _ _ _ _ _ _ _ _ _ _ _ St.ate _ _ _ Zip _ _ _ __ Position or Titht Starr End DI!U!_~/--~ (mmiyyyyl In dude income from other soun:'l!'s below. Under lnwm'l!' Source, .(hild dloo~te from th'!!'toutc:es li,ted here: VerDate Sep<11>2014 18:51 Sep 28, 2016 Jkt 238001 PO 00000 Frm 00023 Fmt 4703 Sfmt 4725 E:\FR\FM\29SEN1.SGM 29SEN1 EN29SE16.013</GPH> mstockstill on DSK3G9T082PROD with NOTICES Provide TOTAL Amount Here $ 66942 F. Are Federal Register / Vol. 81, No. 189 / Thursday, September 29, 2016 / Notices co·~tgner or guarantor on any debt or loarnhat is not disclosed 8orrow11r Namr. VerDate Sep<11>2014 18:51 Sep 28, 2016 Jkt 238001 PO 00000 Frm 00024 Fmt 4703 Sfmt 4725 E:\FR\FM\29SEN1.SGM 29SEN1 EN29SE16.014</GPH> mstockstill on DSK3G9T082PROD with NOTICES G. Are there any ou!$!anding judgments against you? 66943 Federal Register / Vol. 81, No. 189 / Thursday, September 29, 2016 / Notices This sectron asK:saoo:m Exampl~s: Frjian, information IO Tongan, or Intt?mf<t Sti:lte Phcme I 1·-omlt,:; ~ 1 • E:ffec:rlve01120ffil VerDate Sep<11>2014 18:51 Sep 28, 2016 Jkt 238001 PO 00000 Frm 00025 Fmt 4703 Sfmt 4725 E:\FR\FM\29SEN1.SGM 29SEN1 EN29SE16.015</GPH> mstockstill on DSK3G9T082PROD with NOTICES Em~il ID# 66944 Federal Register / Vol. 81, No. 189 / Thursday, September 29, 2016 / Notices VerDate Sep<11>2014 18:51 Sep 28, 2016 Jkt 238001 PO 00000 Frm 00026 Fmt 4703 Sfmt 4725 E:\FR\FM\29SEN1.SGM 29SEN1 EN29SE16.016</GPH> mstockstill on DSK3G9T082PROD with NOTICES 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!! Rrinonce Program 0No 0Futl 0 0 0 Tri'insadlon Detail 0 [J Conversion of Coni rod: for Deed or Land Proje<r:tType 66945 [JCondominium For Refinance: EstoteWlll be Held in First Sub;;equent Ad ju~t ment loan Feitures I Et~lloon Term VerDate Sep<11>2014 18:51 Sep 28, 2016 Jkt 238001 PO 00000 Frm 00027 Fmt 4703 Sfmt 4725 E:\FR\FM\29SEN1.SGM 29SEN1 EN29SE16.017</GPH> mstockstill on DSK3G9T082PROD with NOTICES I 66946 Federal Register / Vol. 81, No. 189 / Thursday, September 29, 2016 / Notices 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 it: provide Dat• of Completion Has the Borrower(lll CO!flpl~~ed lf'/ES: (1) Whatformat wa' it in: " ""'?".'"& VerDate Sep<11>2014 18:51 Sep 28, 2016 Jkt 238001 PO 00000 Frm 00028 Fmt 4703 Sfmt 4725 E:\FR\FM\29SEN1.SGM 29SEN1 EN29SE16.018</GPH> mstockstill on DSK3G9T082PROD with NOTICES (2) Who orovid•lld Federal Register / Vol. 81, No. 189 / Thursday, September 29, 2016 / Notices 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!' VerDate Sep<11>2014 18:51 Sep 28, 2016 Jkt 238001 PO 00000 Frm 00029 Fmt 4703 Sfmt 4725 E:\FR\FM\29SEN1.SGM 29SEN1 EN29SE16.019</GPH> mstockstill on DSK3G9T082PROD with NOTICES AddttiMallnforml!ltiM 66948 Federal Register / Vol. 81, No. 189 / Thursday, September 29, 2016 / Notices Ethnidty HispMic 0 D Me,xican Hi~p;;mi;;; orl~tim;~ Flnandalln,tltution{foroppll01tlcl)n token inp!tnon): • Borrower Namr. VerDate Sep<11>2014 18:51 Sep 28, 2016 Jkt 238001 PO 00000 Frm 00030 Fmt 4703 Sfmt 4725 E:\FR\FM\29SEN1.SGM 29SEN1 EN29SE16.020</GPH> mstockstill on DSK3G9T082PROD with NOTICES 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 mstockstill on DSK3G9T082PROD with NOTICES ADDRESSES: VerDate Sep<11>2014 18:51 Sep 28, 2016 Jkt 238001 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 Frm 00031 Fmt 4703 Sfmt 4703 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 29SEN1

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: http://www.consumerfinance.gov/data-research/hmda/static/for-filers/2017/2017-HMDA-FIG.pdf.
---------------------------------------------------------------------------

    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

BILLING CODE 4810-AM-P

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[[Page 66949]]


    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