Truth in Lending-Real Estate Settlement Procedures, 12657-12659 [2018-05999]

Download as PDF 12657 Rules and Regulations Federal Register Vol. 83, No. 57 Friday, March 23, 2018 This section of the FEDERAL REGISTER contains regulatory documents having general applicability and legal effect, most of which are keyed to and codified in the Code of Federal Regulations, which is published under 50 titles pursuant to 44 U.S.C. 1510. The Code of Federal Regulations is sold by the Superintendent of Documents. DEPARTMENT OF AGRICULTURE Federal Crop Insurance Corporation 7 CFR Part 457 [Docket No. FCIC–17–0006] RIN 0563–AC60 Common Crop Insurance Regulations; Nursery Crop Insurance Provisions Federal Crop Insurance Corporation, USDA. ACTION: Correcting amendment. AGENCY: This document contains necessary amendments to apply a technical correction to the final rule with request for comments for the Nursery Crop Insurance Provisions which published in the Federal Register on January 31, 2018. DATES: Effective Date: March 23, 2018. FOR FURTHER INFORMATION CONTACT: Francie Tolle, Director, Product Management, Product Administration and Standards Division, Risk Management Agency, United States Department of Agriculture, Beacon Facility, Stop 0812, Room 421, P.O. Box 419205, Kansas City, MO 64141–6205, telephone (816) 926–7730. SUPPLEMENTARY INFORMATION: SUMMARY: amozie on DSK30RV082PROD with RULES Background This technical correction is being published to correct the definitions of ‘‘over-report factor’’ and ‘‘under-report factor,’’ published January 31, 2018 (83 FR 4564–4574). In the definition of ‘‘over-report factor,’’ the subparagraphs are intended to reflect step-by-step instructions for calculating the overreport factor, as explained in the leadin paragraph; however, the lead-in paragraph of the definition and the subparagraphs are in conflict. As published, the phrase ‘‘minus 1.100’’ was misplaced in paragraph (2) of the definition and would result in an incorrect result. Proper placement of this phrase is in the paragraph VerDate Sep<11>2014 16:24 Mar 22, 2018 Jkt 244001 succeeding paragraph (3). FCIC is redesignating paragraph (4) as paragraph (5) and adding a new paragraph (4) to incorporate this phrase. Additionally, in the definition of ‘‘over-report factor,’’ the phrase ‘‘reported on the PIVR, including any Peak Inventory Value Report during the coverage term of a Peak Inventory Endorsement, if applicable,’’ which follows the term ‘‘basic unit value’’ is removed. The definition of ‘‘basic unit value,’’ as published in the Final Rule, on January 31, 2018, states ‘‘the full inventory value of all insurable plants in a basic unit declared on your original or revised PIVR and a Peak Inventory Value Report, if applicable.’’ The aforementioned phrase in the definition of ‘‘over-report factor’’ repeats the same information that is contained in the definition of ‘‘basic unit value,’’ and is not needed in the definition of ‘‘overreport factor.’’ Similarly, in the definition of ‘‘underreport factor,’’ the phrase ‘‘including a Peak Inventory Value Report during the coverage term of a Peak Inventory Endorsement, if applicable,’’ which follows the term ‘‘basic unit value’’ is removed. The phrase repeats the same information that is contained in the definition of ‘‘basic unit value,’’ and is not needed. reporting of inventory values. This factor is used to determine indemnities when the basic unit value minus the total of all previous losses is more than 110 percent of FMVA for the same basic unit plus the insured value of plants listed on the verifiable sales records. The over-report factor is calculated by: (1) The basic unit value minus the total of all previous losses; (2) FMVA plus the insured value of plants listed on the verifiable sales records; (3) Dividing the result of paragraph (1) of this definition by the result of paragraph (2) of this definition; and (4) Subtracting 1.100 from the result of paragraph (3) of this definition. (5) If the result of paragraph (4) of this definition is greater than 0.000, then the result of paragraph (4) is the over-report factor that is applied. * * * * * Under-report factor. The factor that adjusts your indemnity for underreporting of inventory values. The factor is always used in determining indemnities. For each basic unit, the under-report factor is the lesser of: (1) 1.000; or (2) The basic unit value minus the total of all previous losses; and dividing that result by FMVA. * * * * * List of Subjects in 7 CFR Part 457 Signed in Washington, DC, on March 20, 2018. Heather Manzano, Acting Manager, Federal Crop Insurance Corporation. Administrative practice and procedure, Crop insurance, Reporting and recordkeeping requirements. Accordingly, part 457 is corrected by making the following amendments: [FR Doc. 2018–06000 Filed 3–22–18; 8:45 am] BILLING CODE 3410–08–P PART 457—COMMON CROP INSURANCE REGULATIONS DEPARTMENT OF AGRICULTURE 1. The authority citation for part 457 continues to read as follows: ■ Authority: 7 U.S.C. 1506(l) and 1506(o). 2. Amend § 457.162, in the Nursery crop insurance provisions, in section 1, by revising the definitions of ‘‘Overreport factor’’ and ‘‘Under-report factor’’ to read as follows: Rural Housing Service Rural Business-Cooperative Service ■ § 457.162 Nursery crop insurance provisions. * * * * * Rural Utilities Service Farm Service Agency 7 CFR Part 1940 RIN 0575–AD11 1. Definitions Truth in Lending—Real Estate Settlement Procedures * AGENCY: * * * * Over-report factor. The factor that adjusts your indemnity for over- PO 00000 Frm 00001 Fmt 4700 Sfmt 4700 ACTION: E:\FR\FM\23MRR1.SGM Rural Housing Service, USDA. Direct final rule. 23MRR1 12658 Federal Register / Vol. 83, No. 57 / Friday, March 23, 2018 / Rules and Regulations The Rural Housing Service (RHS or Agency) will obsolete (and reserve) the Truth in Lending—Real Estate Settlement Procedures regulation to ensure compliance with the Truth in Lending Act (TILA) and Real Estate Settlement Procedures Act (RESPA) Integrated Mortgage Disclosures rule, commonly referred to as the TRID rule. This direct final rule will eliminate the functionally obsolete regulation in order to ensure compliance with the TRID rule, as the standard to follow. DATES: Effective Date: This rule is effective June 21, 2018. Comments: Comments on the direct final rule must be received on or before May 22, 2018. ADDRESSES: You may submit comments to this rule by any of the following methods: • Federal eRulemaking Portal: http:// www.regulations.gov. Follow the instructions for submitting comments. • Mail: Submit written comments via the U.S. Postal Service to the Branch Chief, Regulations and Paperwork Management Branch, U.S. Department of Agriculture, STOP 0742, 1400 Independence Avenue, SW, Washington, DC 20250–0742. All written comments will be available for public inspection during regular work hours at the 1400 Independence Avenue SW, address listed above. FOR FURTHER INFORMATION CONTACT: Shannon Chase, Finance and Loan Analyst, Single Family Housing Direct Loan Origination Branch, USDA Rural Development, 1400 Independence Ave. SW, Washington, DC 20250–0783, Telephone: (515) 305–0399. Email: shannon.chase@wdc.usda.gov. SUPPLEMENTARY INFORMATION: SUMMARY: Statutory Authority Section 510(k) of Title V of the Housing Act of 1949 (42 U.S.C. 1480(k)), as amended, authorizes the Secretary of Agriculture to promulgate rules and regulations as deemed necessary to carry out the purpose of that title. Executive Order 12866 amozie on DSK30RV082PROD with RULES The Office of Management and Budget (OMB) has designated this rule as not significant under Executive Order 12866. Executive Order 12988, Civil Justice Reform This rule has been reviewed under Executive Order 12988, Civil Justice Reform. Except where specified, all State and local laws and regulations that are in direct conflict with this rule will VerDate Sep<11>2014 16:24 Mar 22, 2018 Jkt 244001 be preempted. Federal funds carry Federal requirements. No person is required to apply for funding under this program, but if they do apply and are selected for funding, they must comply with the requirements applicable to the Federal program funds. This rule is not retroactive. It will not affect agreements entered into prior to the effective date of the rule. Before any judicial action may be brought regarding the provisions of this rule, the administrative appeal provisions of 7 CFR part 11 must be exhausted. Unfunded Mandates Reform Act Title II of the Unfunded Mandates Reform Act of 1995 (UMRA), Public Law 104–4, establishes requirements for Federal agencies to assess the effect of their regulatory actions on State, local, and tribal governments and the private sector. Under section 202 of the UMRA, the Agency generally must prepare a written statement, including a costbenefit analysis, for proposed and final rules with ‘‘Federal mandates’’ that may result in expenditures to State, local, or tribal governments, in the aggregate, or to the private sector, of $100 million, or more, in any one year. When such a statement is needed for a rule, section 205 of the UMRA generally requires the Agency to identify and consider a reasonable number of regulatory alternatives and adopt the least costly, most cost-effective, or least burdensome alternative that achieves the objectives of the rule. This direct final rule contains no Federal mandates (under the regulatory provisions of Title II of the UMRA) for State, local, and tribal governments or the private sector. Therefore, this rule is not subject to the requirements of sections 202 and 205 of the UMRA. Environmental Impact Statement This document has been reviewed in accordance with 7 CFR part 1970, subpart A, ‘‘Environmental Policies.’’ It is the determination of the Agency that this action does not constitute a major Federal action significantly affecting the quality of the human environment, and, in accordance with the National Environmental Policy Act of 1969, Public Law 91–190, neither an Environmental Assessment nor an Environmental Impact Statement is required. Executive Order 13132, Federalism The policies contained in this rule do not have any substantial direct effect on States, on the relationship between the national government and States, or on the distribution of power and responsibilities among the various PO 00000 Frm 00002 Fmt 4700 Sfmt 4700 levels of government. Nor does this rule impose substantial direct compliance costs on State and local governments. Therefore, consultation with the States is not required. Regulatory Flexibility Act In compliance with the Regulatory Flexibility Act (5 U.S.C. 601 et seq.) the undersigned has determined and certified by signature of this document that this rule, while affecting small entities, will not have an adverse economic impact on small entities. This rule does not impose any significant new requirements on program recipients nor does it adversely impact proposed real estate transactions involving program recipients as the buyers. Executive Order 12372, Intergovernmental Review of Federal Programs This program/activity is not subject to the provisions of Executive Order 12372, which require intergovernmental consultation with State and local officials. (See the Notice related to 7 CFR part 3015, subpart V, at 48 FR 29112, June 24, 1983; 49 FR 22675, May 31, 1984; 50 FR 14088, April 10, 1985.) Executive Order 13175, Consultation and Coordination With Indian Tribal Governments This executive order imposes requirements on Rural Development in the development of regulatory policies that have tribal implications or preempt tribal laws. Rural Development has determined that the direct final rule does not have a substantial direct effect on one or more Indian tribe(s) or on either the relationship or the distribution of powers and responsibilities between the Federal Government and the Indian tribes. Thus, this direct final rule is not subject to the requirements of Executive Order 13175. Programs Affected The following programs, which are listed in the Catalog of Federal Domestic Assistance, are affected by this direct final rule: Number 10.410, Very Low to Moderate Income Housing Loans (specifically section 502 direct loans), and Number 10.417, Very Low-Income Housing Repair Loans and Grants (specifically section 504 loans). Paperwork Reduction Act This direct final rule does not contain information collection requirements subject to the Paperwork Reduction Act of 1995. E:\FR\FM\23MRR1.SGM 23MRR1 Federal Register / Vol. 83, No. 57 / Friday, March 23, 2018 / Rules and Regulations E-Government Act Compliance RHS is committed to complying with the E-Government Act, 44 U.S.C. 3601 et seq., to promote the use of the internet and other information technologies to provide increased opportunities for citizen access to Government information and services, and for other purposes. amozie on DSK30RV082PROD with RULES Non-Discrimination Policy In accordance with Federal civil rights law and U.S. Department of Agriculture (USDA) civil rights regulations and policies, the USDA, its Agencies, offices, and employees, and institutions participating in or administering USDA programs are prohibited from discriminating based on race, color, national origin, religion , sex, gender identity (including gender expression), sexual orientation, disability, age, marital status, family/ parental status, income derived from a public assistance program, political beliefs, or reprisal or retaliation for prior civil rights activity, in any program or activity conducted or funded by USDA (not all bases apply to all programs). Remedies and complaint filing deadlines vary by program or incident. Persons with disabilities who require alternative means of communication for program information (e.g., Braille, large print, audiotape, American Sign Language, etc.) should contact the responsible Agency or USDA’s TARGET Center at (202) 720–2600 (voice and TTY) or contact USDA through the Federal Relay Service at (800) 877–8339. Additionally, program information may be made available in languages other than English. To file a program discrimination complaint, complete the USDA Program Discrimination Complaint Form, AD– 3027, found online at http:// www.ascr.usda.govcomplaint_filing_ cust.html/ and at any USDA office or write a letter addressed to USDA and provide in the letter all of the information requested in the form. To request a copy of the complaint form, call (866) 632–9992. Submit your completed form or letter to USDA by: (1) Mail: U.S. Department of Agriculture, Office of the Assistant Secretary for Civil Rights, 1400 Independence Avenue SW, Washington, DC 20250–9410; (2) Fax: (202)690–7442; or (3) Email: program.intake@usda.gov. USDA is an equal opportunity provider, employer, and lender. implemented by Regulation Z of the Federal Reserve System, and with RESPA as implemented by Regulation X of the Department of Housing and Urban Development. In 2010, Congress signed into law the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act). The Dodd-Frank Act directed the Consumer Financial Protection Bureau (CFPB) to integrate the mortgage loan disclosures under TILA and RESPA Sections 4 and 5. The CFPB’s TRID rule requires easier-to-use mortgage disclosure forms that clearly lay out the terms of a mortgage for a homebuyer; the rule consolidated the four disclosures required under TILA and RESPA into two forms: A Loan Estimate and a Closing Disclosure. With the TRID rule’s effective date of October 3, 2015 (80 FR 43911), which modified 12 CFR parts 1024 and 1026, 7 CFR part 1940, subpart I, has become functionally obsolete since it refers to outdated processes, forms, and governing bodies. Through this direct final action, this functionally obsolete regulation will be eliminated to avoid confusion and possible noncompliance on the part of Agency staff; and the RHS programs’ guidance will cite the TRID rule as the standard to follow. The TRID rule contains comprehensive instructions on its subject matter. By citing the CFPB’s requirements regarding mortgage disclosures in its guidance, it is the Agency’s objective to ensure that any future changes are immediately and accurately incorporated by reference. List of Subjects in 7 CFR Part 1940 Agriculture, Environmental protection, Flood plains, Grant programs—agriculture, Grant programs—housing and community development, Loan programs— agriculture, Loan programs—housing and community development, Low and moderate-income housing, Reporting and recordkeeping requirements, Rural areas, Truth in lending. For the reasons stated in the preamble, chapter XVIII, title 7 of the Code of Federal Regulations, is amended as follows: PART 1940—GENERAL I. Background 1. The authority citation for part 1940 continues to read as follows: 7 CFR part 1940, subpart I, provides instruction for compliance with TILA as Authority: 5 U.S.C. 301; 7 U.S.C. 1989; and 42 U.S.C. 1480. VerDate Sep<11>2014 16:24 Mar 22, 2018 Jkt 244001 ■ PO 00000 Frm 00003 Fmt 4700 Sfmt 4700 12659 Subpart I—[Remove and Reserved] 2. Remove and reserve subpart I, consisting of §§ 1940.401 through 1940.406. ■ Dated: March 1, 2018. Anne C. Hazlett, Assistant to the Secretary, Rural Development. Dated: March 8, 2018. Bill Northey, Under Secretary, Farm Production and Conservation. [FR Doc. 2018–05999 Filed 3–22–18; 8:45 am] BILLING CODE 3410–XV–P DEPARTMENT OF TRANSPORTATION Federal Aviation Administration 14 CFR Part 39 [Docket No. FAA–2017–0495; Product Identifier 2017–NM–017–AD; Amendment 39–19222; AD 2018–06–02] RIN 2120–AA64 Airworthiness Directives; Bombardier, Inc., Airplanes Federal Aviation Administration (FAA), Department of Transportation (DOT). ACTION: Final rule. AGENCY: We are adopting a new airworthiness directive (AD) for all Bombardier, Inc., Model CL–600–2B19 (Regional Jet Series 100 & 440), Model CL–600–2C10 (Regional Jet Series 700, 701, & 702), Model CL–600–2D15 (Regional Jet Series 705), and Model CL–600–2D24 (Regional Jet Series 900) airplanes. This AD was prompted by development of a modification to prevent uncommanded rudder movement during flight. This AD requires modifying the wiring harness of the yaw damper control system. We are issuing this AD to address the unsafe condition on these products. DATES: This AD is effective April 27, 2018. The Director of the Federal Register approved the incorporation by reference of certain publications listed in this AD as of April 27, 2018. ADDRESSES: For service information identified in this final rule, contact ˆ Bombardier, Inc., 400 Cote-Vertu Road ´ West, Dorval, Quebec H4S 1Y9, Canada; Widebody Customer Response Center North America toll-free telephone 1– 866–538–1247 or direct-dial telephone 1–514–855–2999; fax 514–855–7401; email ac.yul@aero.bombardier.com; internet: http://www.bombardier.com. SUMMARY: E:\FR\FM\23MRR1.SGM 23MRR1

Agencies

[Federal Register Volume 83, Number 57 (Friday, March 23, 2018)]
[Rules and Regulations]
[Pages 12657-12659]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2018-05999]


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DEPARTMENT OF AGRICULTURE

Rural Housing Service

Rural Business-Cooperative Service

Rural Utilities Service

Farm Service Agency

7 CFR Part 1940

RIN 0575-AD11


Truth in Lending--Real Estate Settlement Procedures

AGENCY: Rural Housing Service, USDA.

ACTION: Direct final rule.

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

[[Page 12658]]

SUMMARY: The Rural Housing Service (RHS or Agency) will obsolete (and 
reserve) the Truth in Lending--Real Estate Settlement Procedures 
regulation to ensure compliance with the Truth in Lending Act (TILA) 
and Real Estate Settlement Procedures Act (RESPA) Integrated Mortgage 
Disclosures rule, commonly referred to as the TRID rule. This direct 
final rule will eliminate the functionally obsolete regulation in order 
to ensure compliance with the TRID rule, as the standard to follow.

DATES: 
    Effective Date: This rule is effective June 21, 2018.
    Comments: Comments on the direct final rule must be received on or 
before May 22, 2018.

ADDRESSES: You may submit comments to this rule by any of the following 
methods:
     Federal eRulemaking Portal: http://www.regulations.gov. 
Follow the instructions for submitting comments.
     Mail: Submit written comments via the U.S. Postal Service 
to the Branch Chief, Regulations and Paperwork Management Branch, U.S. 
Department of Agriculture, STOP 0742, 1400 Independence Avenue, SW, 
Washington, DC 20250-0742.
    All written comments will be available for public inspection during 
regular work hours at the 1400 Independence Avenue SW, address listed 
above.

FOR FURTHER INFORMATION CONTACT: Shannon Chase, Finance and Loan 
Analyst, Single Family Housing Direct Loan Origination Branch, USDA 
Rural Development, 1400 Independence Ave. SW, Washington, DC 20250-
0783, Telephone: (515) 305-0399. Email: [email protected].

SUPPLEMENTARY INFORMATION:

Statutory Authority

    Section 510(k) of Title V of the Housing Act of 1949 (42 U.S.C. 
1480(k)), as amended, authorizes the Secretary of Agriculture to 
promulgate rules and regulations as deemed necessary to carry out the 
purpose of that title.

Executive Order 12866

    The Office of Management and Budget (OMB) has designated this rule 
as not significant under Executive Order 12866.

Executive Order 12988, Civil Justice Reform

    This rule has been reviewed under Executive Order 12988, Civil 
Justice Reform. Except where specified, all State and local laws and 
regulations that are in direct conflict with this rule will be 
preempted. Federal funds carry Federal requirements. No person is 
required to apply for funding under this program, but if they do apply 
and are selected for funding, they must comply with the requirements 
applicable to the Federal program funds. This rule is not retroactive. 
It will not affect agreements entered into prior to the effective date 
of the rule. Before any judicial action may be brought regarding the 
provisions of this rule, the administrative appeal provisions of 7 CFR 
part 11 must be exhausted.

Unfunded Mandates Reform Act

    Title II of the Unfunded Mandates Reform Act of 1995 (UMRA), Public 
Law 104-4, establishes requirements for Federal agencies to assess the 
effect of their regulatory actions on State, local, and tribal 
governments and the private sector. Under section 202 of the UMRA, the 
Agency generally must prepare a written statement, including a cost-
benefit analysis, for proposed and final rules with ``Federal 
mandates'' that may result in expenditures to State, local, or tribal 
governments, in the aggregate, or to the private sector, of $100 
million, or more, in any one year. When such a statement is needed for 
a rule, section 205 of the UMRA generally requires the Agency to 
identify and consider a reasonable number of regulatory alternatives 
and adopt the least costly, most cost-effective, or least burdensome 
alternative that achieves the objectives of the rule.
    This direct final rule contains no Federal mandates (under the 
regulatory provisions of Title II of the UMRA) for State, local, and 
tribal governments or the private sector. Therefore, this rule is not 
subject to the requirements of sections 202 and 205 of the UMRA.

Environmental Impact Statement

    This document has been reviewed in accordance with 7 CFR part 1970, 
subpart A, ``Environmental Policies.'' It is the determination of the 
Agency that this action does not constitute a major Federal action 
significantly affecting the quality of the human environment, and, in 
accordance with the National Environmental Policy Act of 1969, Public 
Law 91-190, neither an Environmental Assessment nor an Environmental 
Impact Statement is required.

Executive Order 13132, Federalism

    The policies contained in this rule do not have any substantial 
direct effect on States, on the relationship between the national 
government and States, or on the distribution of power and 
responsibilities among the various levels of government. Nor does this 
rule impose substantial direct compliance costs on State and local 
governments. Therefore, consultation with the States is not required.

Regulatory Flexibility Act

    In compliance with the Regulatory Flexibility Act (5 U.S.C. 601 et 
seq.) the undersigned has determined and certified by signature of this 
document that this rule, while affecting small entities, will not have 
an adverse economic impact on small entities. This rule does not impose 
any significant new requirements on program recipients nor does it 
adversely impact proposed real estate transactions involving program 
recipients as the buyers.

Executive Order 12372, Intergovernmental Review of Federal Programs

    This program/activity is not subject to the provisions of Executive 
Order 12372, which require intergovernmental consultation with State 
and local officials. (See the Notice related to 7 CFR part 3015, 
subpart V, at 48 FR 29112, June 24, 1983; 49 FR 22675, May 31, 1984; 50 
FR 14088, April 10, 1985.)

Executive Order 13175, Consultation and Coordination With Indian Tribal 
Governments

    This executive order imposes requirements on Rural Development in 
the development of regulatory policies that have tribal implications or 
preempt tribal laws. Rural Development has determined that the direct 
final rule does not have a substantial direct effect on one or more 
Indian tribe(s) or on either the relationship or the distribution of 
powers and responsibilities between the Federal Government and the 
Indian tribes. Thus, this direct final rule is not subject to the 
requirements of Executive Order 13175.

Programs Affected

    The following programs, which are listed in the Catalog of Federal 
Domestic Assistance, are affected by this direct final rule: Number 
10.410, Very Low to Moderate Income Housing Loans (specifically section 
502 direct loans), and Number 10.417, Very Low-Income Housing Repair 
Loans and Grants (specifically section 504 loans).

Paperwork Reduction Act

    This direct final rule does not contain information collection 
requirements subject to the Paperwork Reduction Act of 1995.

[[Page 12659]]

E-Government Act Compliance

    RHS is committed to complying with the E-Government Act, 44 U.S.C. 
3601 et seq., to promote the use of the internet and other information 
technologies to provide increased opportunities for citizen access to 
Government information and services, and for other purposes.

Non-Discrimination Policy

    In accordance with Federal civil rights law and U.S. Department of 
Agriculture (USDA) civil rights regulations and policies, the USDA, its 
Agencies, offices, and employees, and institutions participating in or 
administering USDA programs are prohibited from discriminating based on 
race, color, national origin, religion , sex, gender identity 
(including gender expression), sexual orientation, disability, age, 
marital status, family/parental status, income derived from a public 
assistance program, political beliefs, or reprisal or retaliation for 
prior civil rights activity, in any program or activity conducted or 
funded by USDA (not all bases apply to all programs). Remedies and 
complaint filing deadlines vary by program or incident.
    Persons with disabilities who require alternative means of 
communication for program information (e.g., Braille, large print, 
audiotape, American Sign Language, etc.) should contact the responsible 
Agency or USDA's TARGET Center at (202) 720-2600 (voice and TTY) or 
contact USDA through the Federal Relay Service at (800) 877-8339. 
Additionally, program information may be made available in languages 
other than English.
    To file a program discrimination complaint, complete the USDA 
Program Discrimination Complaint Form, AD-3027, found online at http://www.ascr.usda.govcomplaint_filing_cust.html/ and at any USDA office or 
write a letter addressed to USDA and provide in the letter all of the 
information requested in the form. To request a copy of the complaint 
form, call (866) 632-9992. Submit your completed form or letter to USDA 
by:
    (1) Mail: U.S. Department of Agriculture, Office of the Assistant 
Secretary for Civil Rights, 1400 Independence Avenue SW, Washington, DC 
20250-9410;
    (2) Fax: (202)690-7442; or
    (3) Email: [email protected].
    USDA is an equal opportunity provider, employer, and lender.

I. Background

    7 CFR part 1940, subpart I, provides instruction for compliance 
with TILA as implemented by Regulation Z of the Federal Reserve System, 
and with RESPA as implemented by Regulation X of the Department of 
Housing and Urban Development.
    In 2010, Congress signed into law the Dodd-Frank Wall Street Reform 
and Consumer Protection Act (Dodd-Frank Act). The Dodd-Frank Act 
directed the Consumer Financial Protection Bureau (CFPB) to integrate 
the mortgage loan disclosures under TILA and RESPA Sections 4 and 5. 
The CFPB's TRID rule requires easier-to-use mortgage disclosure forms 
that clearly lay out the terms of a mortgage for a homebuyer; the rule 
consolidated the four disclosures required under TILA and RESPA into 
two forms: A Loan Estimate and a Closing Disclosure.
    With the TRID rule's effective date of October 3, 2015 (80 FR 
43911), which modified 12 CFR parts 1024 and 1026, 7 CFR part 1940, 
subpart I, has become functionally obsolete since it refers to outdated 
processes, forms, and governing bodies. Through this direct final 
action, this functionally obsolete regulation will be eliminated to 
avoid confusion and possible noncompliance on the part of Agency staff; 
and the RHS programs' guidance will cite the TRID rule as the standard 
to follow.
    The TRID rule contains comprehensive instructions on its subject 
matter. By citing the CFPB's requirements regarding mortgage 
disclosures in its guidance, it is the Agency's objective to ensure 
that any future changes are immediately and accurately incorporated by 
reference.

List of Subjects in 7 CFR Part 1940

    Agriculture, Environmental protection, Flood plains, Grant 
programs--agriculture, Grant programs--housing and community 
development, Loan programs--agriculture, Loan programs--housing and 
community development, Low and moderate-income housing, Reporting and 
recordkeeping requirements, Rural areas, Truth in lending.

    For the reasons stated in the preamble, chapter XVIII, title 7 of 
the Code of Federal Regulations, is amended as follows:

PART 1940--GENERAL

0
1. The authority citation for part 1940 continues to read as follows:

    Authority: 5 U.S.C. 301; 7 U.S.C. 1989; and 42 U.S.C. 1480.

Subpart I--[Remove and Reserved]

0
2. Remove and reserve subpart I, consisting of Sec. Sec.  1940.401 
through 1940.406.

    Dated: March 1, 2018.
Anne C. Hazlett,
Assistant to the Secretary, Rural Development.
    Dated: March 8, 2018.

Bill Northey,
Under Secretary, Farm Production and Conservation.
[FR Doc. 2018-05999 Filed 3-22-18; 8:45 am]
 BILLING CODE 3410-XV-P