Proposed Collection; Comment Request, 24127-24128 [2017-10728]

Download as PDF Federal Register / Vol. 82, No. 100 / Thursday, May 25, 2017 / Notices Dated: April 26, 2017. On behalf of the Commission, Steven T. Walther, Chairman, Federal Election Commission. [FR Doc. 2017–10722 Filed 5–24–17; 8:45 am] BILLING CODE 6715–01–P FEDERAL HOUSING FINANCE AGENCY [No. 2017–N–05] Proposed Collection; Comment Request Federal Housing Finance Agency. ACTION: 60-day notice of submission of information collection for approval from Office of Management and Budget. AGENCY: In accordance with the requirements of the Paperwork Reduction Act of 1995 (PRA), the Federal Housing Finance Agency (FHFA or the Agency) is seeking public comments concerning an information collection known as the ‘‘Monthly Survey of Rates and Terms on Conventional 1-Family Nonfarm Mortgage Loans (MIRS),’’ which has been assigned control number 2590– 0004 by the Office of Management and Budget (OMB). FHFA intends to submit the information collection to OMB for review and approval of a three-year extension of the control number, which is due to expire on July 31, 2017. DATES: Interested persons may submit comments on or before July 24, 2017. ADDRESSES: Submit comments to FHFA, identified by ‘‘Proposed Collection; Comment Request: ‘Monthly Survey of Rates and Terms on Conventional 1Family Nonfarm Mortgage Loans (MIRS), (No. 2017–N–05)’ ’’ by any of the following methods: • Agency Web site: www.fhfa.gov/ open-for-comment-or-input. • Federal eRulemaking Portal: http:// www.regulations.gov. Follow the instructions for submitting comments. If you submit your comment to the Federal eRulemaking Portal, please also send it by email to FHFA at RegComments@fhfa.gov to ensure timely receipt by the agency. • Mail/Hand Delivery: Federal Housing Finance Agency, Eighth Floor, 400 Seventh Street SW., Washington, DC 20219, ATTENTION: Proposed Collection; Comment Request: ‘‘Monthly Survey of Rates and Terms on Conventional 1-Family Nonfarm Mortgage Loans (MIRS), (No. 2017–N– 05)’’. We will post all public comments we receive without change, including any SUMMARY: VerDate Sep<11>2014 18:04 May 24, 2017 Jkt 241001 personal information you provide, such as your name and address, email address, and telephone number, on the FHFA Web site at http://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, Eighth Floor, 400 Seventh Street SW., Washington, DC 20219. To make an appointment to inspect comments, please call the Office of General Counsel at (202) 649–3804. FOR FURTHER INFORMATION CONTACT: David L. Roderer, Senior Financial Analyst, David.L.Roderer@fhfa.gov, (202) 649–3206; or Eric Raudenbush, Associate General Counsel, Eric.Raudenbush@fhfa.gov, (202) 649– 3084 (these are not toll-free numbers); Federal Housing Finance Agency, 400 Seventh Street SW., Washington, DC 20219. The Telecommunications Device for the Hearing Impaired is (800) 877– 8339. SUPPLEMENTARY INFORMATION: A. Need for and Use of the Information Collection FHFA’s Monthly Survey of Rates and Terms on Conventional 1-Family Nonfarm Mortgage Loans, commonly referred to as the ‘‘Monthly Interest Rate Survey’’ or ‘‘MIRS,’’ is a monthly survey of mortgage lenders that solicits information on the terms and conditions on all conventional, single-family, fully amortized, purchase-money mortgage loans closed during the last five working days of the preceding month. The MIRS collects monthly information on interest rates, loan terms, and house prices by property type (i.e., new or previously occupied), by loan type (i.e., fixed- or adjustable-rate), and by lender type (i.e., mortgage companies, savings associations, commercial banks, and savings banks), as well as information on 15-year and 30-year fixed-rate loans. In addition, the survey collects quarterly information on conventional loans by major metropolitan area and by Federal Home Loan Bank district. The MIRS does not collect information on loans insured by the Federal Housing Administration (FHA) or guaranteed by the Veterans Administration (VA), loans secured by multifamily property or manufactured housing, or loans created by refinancing another mortgage. The MIRS is the most timely and comprehensive source of information on conventional mortgage rates and terms in the United States. The MIRS originated with one of FHFA’s predecessor agencies, the former Federal Home Loan Bank Board PO 00000 Frm 00033 Fmt 4703 Sfmt 4703 24127 (FHLBB), in the 1960s and was conducted by the former Federal Housing Finance Board from 1989 through 2008. Data collected through the MIRS was used to derive the FHLBB’s National Average Contract Mortgage Rate for the Purchase of Previously Occupied Homes by Combined Lenders (ARM Index), which was used by lenders to set mortgage rates on adjustable rate mortgages (ARMs). For a period of years, Fannie Mae and Freddie Mac were required by statute to use the data collected through the MIRS in making annual adjustments to their conforming loan limits. Since 2008, FHFA has continued to conduct the MIRS and to produce the ARM Index.1 For various reasons, the number of loans reported to MIRS has fallen dramatically over the long term, which has resulted in the data sample sizes becoming deficient.2 Although the volume of loans reported has increased moderately over the last several years, FHFA possesses limited means to compel survey recipients to provide additional data. Despite this, the agency believes it has a legal obligation to continue to carry out the survey, and its results continue to be relied upon by many outside parties. While adjustments in the Enterprises’ conforming loan limits are no longer based solely on data collected through the MIRS, MIRS data remains one of the factors that FHFA is required to consider in assessing the national average one-family house price for purposes of making those adjustments.3 A few lenders use FHFA’s ARM Index, derived from MIRS data, to set interest rates on fixed rate loans. In addition, businesses, trade associations, and government agencies at both the federal and state level rely upon the MIRS data for various business and regulatory purposes. For example, economic policy makers have used the MIRS data to determine trends in the mortgage markets, including interest rates, down payments, terms to maturity, terms on ARMs, and initial fees and charges on mortgage loans. Other federal banking agencies, such as the Board of Governors of the Federal Reserve System and the Council of Economic Advisors, have used the MIRS results for research purposes. The Bureau of Economic Analysis of the U.S. Department of Commerce uses MIRS as 1 The MIRS and the ARM Index are described at 12 CFR 906.5. 2 All publications of MIRS data include a note stating, ‘‘The indices are based on a small monthly survey of mortgage lenders, which may not be representative. The sample is not a statistical sample but is rather a convenience sample.’’ 3 See 12 U.S.C. 4542. E:\FR\FM\25MYN1.SGM 25MYN1 24128 Federal Register / Vol. 82, No. 100 / Thursday, May 25, 2017 / Notices a key component of some of the economic statistics it is responsible for tracking. In addition, statutes in several states and U.S. territories refer to, or rely upon, the MIRS or the ARM Index for various purposes.4 The OMB control number for this information collection is 2590–0004. The current clearance for the information collection expires on July 31, 2017. The Agency received a total of 1,369 monthly MIRS data submissions from 45 unique survey respondents over the period 2014–2016, representing an average of 456.3 monthly submissions per year from all respondents. Based on that figure and the expectation that it may receive slightly fewer data submissions going forward as compared to the last three years, FHFA estimates that it will receive an average of 450 data submissions annually over the next three years. Most MIRS respondents submit their monthly MIRS data electronically through FHFA’s MIRS web interface. Several, primarily larger, respondents transmit an electronic data file to FHFA, which then uploads the data to the same web interface. A few respondents still elect to complete FHFA Form #075 and submit it by facsimile. FHFA believes that, on average, a respondent will spend 20 minutes transmitting each monthly MIRS data set. Thus, FHFA estimates that the annualized hour burden on all respondents imposed by this information collection over the next three years will be 150 hours (450 submissions × 0.33 hours). C. Comments Request 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 FHFA’s 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 on respondents, including through the use of automated collection techniques or other forms of information technology. 4 See, e.g., Cal. Civ. Code §§ 1916.7(b)(5)(A) and 1916.8(b)(1) (mortgage rates); Mich. Comp. Laws § 445.1621(d), 445.1624 (mortgage index rates); N.J. Rev. Stat. 31:1–1(d) (interest rates); Wis. Stat. § 138.056(1)(a) (variable loan rates); V.I. Code Ann. tit. 11, § 951(b)(2) (legal rate of interest). 18:04 May 24, 2017 [FR Doc. 2017–10728 Filed 5–24–17; 8:45 am] BILLING CODE 8070–01–P FEDERAL RETIREMENT THRIFT INVESTMENT BOARD Sunshine Act; Notice of Board Member Meeting B. Burden Estimate VerDate Sep<11>2014 Dated: May 19, 2017. Kevin Winkler, Chief Information Officer, Federal Housing Finance Agency. Jkt 241001 AGENDA Federal Retirement Thrift Investment, Joint Board Member/ETAC Meeting, May 31, 2017, 8:30 a.m., (In-person), 77 K Street NE., Washington, DC 20002, Training Rooms A and B, 10th Floor. OPEN SESSION 1. Approval of the Minutes of the April 24, 2017 Board Member Meeting 2. Approval of the Minutes of the November 14, 2016 ETAC Meeting 3. Monthly Reports (a) Participant Activity Report (b) Investment Performance Report (c) Legislative Report 4. Quarterly Reports (a) Metrics (b) Project Activity 5. Blended Retirement Update 6. IT Update 7. L Funds ‘‘To’’ vs ‘‘Through’’ Study 8. TSP Investment Options Study 9. OCE Annual Report CLOSED SESSION Information covered under 5 U.S.C. 552b(c)(9)(B). ADJOURN CONTACT PERSON FOR MORE INFORMATION: Kimberly Weaver, Director, Office of External Affairs, (202) 942–1640. Dated: May 23, 2017. Megan Grumbine, General Counsel, Federal Retirement Thrift Investment Board. [FR Doc. 2017–10929 Filed 5–23–17; 4:15 pm] BILLING CODE 6760–01–P DEPARTMENT OF HEALTH AND HUMAN SERVICES Centers for Medicare & Medicaid Services [CMS–1685–N] Medicare Program: Announcement of the Advisory Panel on Hospital Outpatient Payment (the Panel) Meeting on August 21–22, 2017 Centers for Medicare & Medicaid Services (CMS), Department of Health and Human Services (DHHS). AGENCY: PO 00000 Frm 00034 Fmt 4703 Sfmt 4703 ACTION: Notice. This notice announces the annual meeting of the Advisory Panel on Hospital Outpatient Payment for 2017. The purpose of the Panel is to advise the Secretary of Department of Health and Human Services and the Administrator of Centers for Medicare & Medicaid Services concerning the clinical integrity of the Ambulatory Payment Classification groups and their associated weights as well as hospital outpatient therapeutic services supervision issues. The advice provided by the Panel will be considered as we prepare the annual updates for the hospital outpatient prospective payment system. DATES: Meeting Dates: The annual meeting in 2017 is scheduled for the following dates and times. The times listed in this notice are Eastern Daylight Time (EDT) and are approximate times. Consequently, the meetings may last longer or be shorter than the times listed in this notice, but will not begin before the posted times: • Monday, August 21, 2017, 9 a.m. to 5 p.m. EDT. • Tuesday, August 22, 2017, 9 a.m. to 5 p.m. EDT. Meeting Information Updates: The actual meeting hours and days will be posted in the agenda. As information and updates regarding the onsite, webcast, and teleconference meeting and the agenda become available, they will be posted to our Web site at: http:// cms.gov/Regulations-and-Guidance/ Guidance/FACA/AdvisoryPanelon AmbulatoryPaymentClassification Groups.html. SUMMARY: Deadlines Deadline for Presentations and Comments Presentations or comments and form CMS–20017, (located at https:// www.cms.gov/Medicare/CMS-Forms/ CMS-Forms/downloads/cms20017.pdf) must be received by 5 p.m. EDT, Friday, July 21, 2017. Presentations and comments that are not received by the due date and time will be considered late and will not be included on the agenda. In commenting, please refer to file code CMS–1685–N. Meeting Registration Timeframe: Monday, June 26, 2017, through Monday, July 31, 2017 at 5 p.m. EDT. Participants planning to attend this meeting in person must register online, during the specified timeframe at: https://www.cms.gov/apps/events/ default.asp. On this Web page, double click the ‘‘Upcoming Events’’ hyperlink, and then double click the ‘‘HOP Panel’’ E:\FR\FM\25MYN1.SGM 25MYN1

Agencies

[Federal Register Volume 82, Number 100 (Thursday, May 25, 2017)]
[Notices]
[Pages 24127-24128]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2017-10728]


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

FEDERAL HOUSING FINANCE AGENCY

[No. 2017-N-05]


Proposed Collection; Comment Request

AGENCY: Federal Housing Finance Agency.

ACTION: 60-day notice of submission of information collection for 
approval from Office of Management and Budget.

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

SUMMARY: In accordance with the requirements of the Paperwork Reduction 
Act of 1995 (PRA), the Federal Housing Finance Agency (FHFA or the 
Agency) is seeking public comments concerning an information collection 
known as the ``Monthly Survey of Rates and Terms on Conventional 1-
Family Nonfarm Mortgage Loans (MIRS),'' which has been assigned control 
number 2590-0004 by the Office of Management and Budget (OMB). FHFA 
intends to submit the information collection to OMB for review and 
approval of a three-year extension of the control number, which is due 
to expire on July 31, 2017.

DATES: Interested persons may submit comments on or before July 24, 
2017.

ADDRESSES: Submit comments to FHFA, identified by ``Proposed 
Collection; Comment Request: `Monthly Survey of Rates and Terms on 
Conventional 1-Family Nonfarm Mortgage Loans (MIRS), (No. 2017-N-05)' 
'' by any of the following methods:
     Agency Web site: www.fhfa.gov/open-for-comment-or-input.
     Federal eRulemaking Portal: http://www.regulations.gov. 
Follow the instructions for submitting comments. If you submit your 
comment to the Federal eRulemaking Portal, please also send it by email 
to FHFA at RegComments@fhfa.gov to ensure timely receipt by the agency.
     Mail/Hand Delivery: Federal Housing Finance Agency, Eighth 
Floor, 400 Seventh Street SW., Washington, DC 20219, ATTENTION: 
Proposed Collection; Comment Request: ``Monthly Survey of Rates and 
Terms on Conventional 1-Family Nonfarm Mortgage Loans (MIRS), (No. 
2017-N-05)''.
    We will post all public comments we receive without change, 
including any personal information you provide, such as your name and 
address, email address, and telephone number, on the FHFA Web site at 
http://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, 
Eighth Floor, 400 Seventh Street SW., Washington, DC 20219. To make an 
appointment to inspect comments, please call the Office of General 
Counsel at (202) 649-3804.

FOR FURTHER INFORMATION CONTACT: David L. Roderer, Senior Financial 
Analyst, David.L.Roderer@fhfa.gov, (202) 649-3206; or Eric Raudenbush, 
Associate General Counsel, Eric.Raudenbush@fhfa.gov, (202) 649-3084 
(these are not toll-free numbers); Federal Housing Finance Agency, 400 
Seventh Street SW., Washington, DC 20219. The Telecommunications Device 
for the Hearing Impaired is (800) 877-8339.

SUPPLEMENTARY INFORMATION: 

A. Need for and Use of the Information Collection

    FHFA's Monthly Survey of Rates and Terms on Conventional 1-Family 
Nonfarm Mortgage Loans, commonly referred to as the ``Monthly Interest 
Rate Survey'' or ``MIRS,'' is a monthly survey of mortgage lenders that 
solicits information on the terms and conditions on all conventional, 
single-family, fully amortized, purchase-money mortgage loans closed 
during the last five working days of the preceding month. The MIRS 
collects monthly information on interest rates, loan terms, and house 
prices by property type (i.e., new or previously occupied), by loan 
type (i.e., fixed- or adjustable-rate), and by lender type (i.e., 
mortgage companies, savings associations, commercial banks, and savings 
banks), as well as information on 15-year and 30-year fixed-rate loans. 
In addition, the survey collects quarterly information on conventional 
loans by major metropolitan area and by Federal Home Loan Bank 
district. The MIRS does not collect information on loans insured by the 
Federal Housing Administration (FHA) or guaranteed by the Veterans 
Administration (VA), loans secured by multifamily property or 
manufactured housing, or loans created by refinancing another mortgage. 
The MIRS is the most timely and comprehensive source of information on 
conventional mortgage rates and terms in the United States.
    The MIRS originated with one of FHFA's predecessor agencies, the 
former Federal Home Loan Bank Board (FHLBB), in the 1960s and was 
conducted by the former Federal Housing Finance Board from 1989 through 
2008. Data collected through the MIRS was used to derive the FHLBB's 
National Average Contract Mortgage Rate for the Purchase of Previously 
Occupied Homes by Combined Lenders (ARM Index), which was used by 
lenders to set mortgage rates on adjustable rate mortgages (ARMs). For 
a period of years, Fannie Mae and Freddie Mac were required by statute 
to use the data collected through the MIRS in making annual adjustments 
to their conforming loan limits.
    Since 2008, FHFA has continued to conduct the MIRS and to produce 
the ARM Index.\1\ For various reasons, the number of loans reported to 
MIRS has fallen dramatically over the long term, which has resulted in 
the data sample sizes becoming deficient.\2\ Although the volume of 
loans reported has increased moderately over the last several years, 
FHFA possesses limited means to compel survey recipients to provide 
additional data. Despite this, the agency believes it has a legal 
obligation to continue to carry out the survey, and its results 
continue to be relied upon by many outside parties.
---------------------------------------------------------------------------

    \1\ The MIRS and the ARM Index are described at 12 CFR 906.5.
    \2\ All publications of MIRS data include a note stating, ``The 
indices are based on a small monthly survey of mortgage lenders, 
which may not be representative. The sample is not a statistical 
sample but is rather a convenience sample.''
---------------------------------------------------------------------------

    While adjustments in the Enterprises' conforming loan limits are no 
longer based solely on data collected through the MIRS, MIRS data 
remains one of the factors that FHFA is required to consider in 
assessing the national average one-family house price for purposes of 
making those adjustments.\3\ A few lenders use FHFA's ARM Index, 
derived from MIRS data, to set interest rates on fixed rate loans. In 
addition, businesses, trade associations, and government agencies at 
both the federal and state level rely upon the MIRS data for various 
business and regulatory purposes. For example, economic policy makers 
have used the MIRS data to determine trends in the mortgage markets, 
including interest rates, down payments, terms to maturity, terms on 
ARMs, and initial fees and charges on mortgage loans. Other federal 
banking agencies, such as the Board of Governors of the Federal Reserve 
System and the Council of Economic Advisors, have used the MIRS results 
for research purposes. The Bureau of Economic Analysis of the U.S. 
Department of Commerce uses MIRS as

[[Page 24128]]

a key component of some of the economic statistics it is responsible 
for tracking. In addition, statutes in several states and U.S. 
territories refer to, or rely upon, the MIRS or the ARM Index for 
various purposes.\4\
---------------------------------------------------------------------------

    \3\ See 12 U.S.C. 4542.
    \4\ See, e.g., Cal. Civ. Code Sec. Sec.  1916.7(b)(5)(A) and 
1916.8(b)(1) (mortgage rates); Mich. Comp. Laws Sec.  445.1621(d), 
445.1624 (mortgage index rates); N.J. Rev. Stat. 31:1-1(d) (interest 
rates); Wis. Stat. Sec.  138.056(1)(a) (variable loan rates); V.I. 
Code Ann. tit. 11, Sec.  951(b)(2) (legal rate of interest).
---------------------------------------------------------------------------

    The OMB control number for this information collection is 2590-
0004. The current clearance for the information collection expires on 
July 31, 2017.

B. Burden Estimate

    The Agency received a total of 1,369 monthly MIRS data submissions 
from 45 unique survey respondents over the period 2014-2016, 
representing an average of 456.3 monthly submissions per year from all 
respondents. Based on that figure and the expectation that it may 
receive slightly fewer data submissions going forward as compared to 
the last three years, FHFA estimates that it will receive an average of 
450 data submissions annually over the next three years.
    Most MIRS respondents submit their monthly MIRS data electronically 
through FHFA's MIRS web interface. Several, primarily larger, 
respondents transmit an electronic data file to FHFA, which then 
uploads the data to the same web interface. A few respondents still 
elect to complete FHFA Form #075 and submit it by facsimile. FHFA 
believes that, on average, a respondent will spend 20 minutes 
transmitting each monthly MIRS data set.
    Thus, FHFA estimates that the annualized hour burden on all 
respondents imposed by this information collection over the next three 
years will be 150 hours (450 submissions x 0.33 hours).

C. Comments Request

    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 FHFA's 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 on respondents, including 
through the use of automated collection techniques or other forms of 
information technology.

    Dated: May 19, 2017.
Kevin Winkler,
Chief Information Officer, Federal Housing Finance Agency.
[FR Doc. 2017-10728 Filed 5-24-17; 8:45 am]
BILLING CODE 8070-01-P