Federal Housing Enterprise Oversight Office 2006 – Federal Register Recent Federal Regulation Documents

The Office of Federal Housing Enterprise Oversight (OFHEO) is amending Appendix A to Subpart B of 12 CFR part 1750 Risk-Based Capital, (Risk-Based Capital Regulation). The amendments are intended to enhance the accuracy and transparency of the calculation of the risk-based capital requirement for Fannie Mae and Freddie Mac (the Enterprises) and to update the Risk-Based Capital Regulation to incorporate approved new activities treatments.

The Office of Federal Housing Enterprise Oversight (OFHEO) is issuing a final regulation that sets forth record retention requirements with respect to the record management programs of the Federal National Mortgage Association and the Federal Home Loan Mortgage Corporation consistent with the safety and soundness responsibilities of OFHEO under the Federal Housing Enterprises Financial Safety and Soundness Act of 1992.

The Office of Federal Housing Enterprise Oversight (OFHEO) is proposing technical amendments to Appendix A to Subpart B Risk-Based Capital Regulation Methodology and Specifications of 12 CFR part 1750, (Risk-Based Capital Regulation). The proposed amendments are intended to enhance the accuracy and transparency of the calculation of the risk-based capital requirement for the Enterprises and updates the Risk-Based Capital Regulation to incorporate approved new activities treatments.

On September 7, 2005, the Office of Federal Housing Enterprise Oversight (OFHEO) issued a notice of regulatory review (Notice), and request for comments under OFHEO Policy Guidance 01-001 (April 2, 2001).\1\ OFHEO requested public comment as to whether existing regulations have become inefficient or create unwarranted burden. This document summarizes the comments that were received.

In accordance with the Privacy Act of 1974, as amended, 5 U.S.C. 552a (Privacy Act), the Office of Federal Housing Enterprise Oversight (OFHEO) is issuing public notice of its intent to establish three new Privacy Act systems of records. The three systems are titled Emergency Contingency Plan and Personnel Locator System, Mortgage Fraud System, and Computer Systems Activity and Access Records System. OFHEO seeks comment on the new systems of records described in this notice. The Emergency Contingency Plan and Personnel Locator System will be established to maintain emergency contact information for use in developing and implementing an emergency plan, including a continuity of operations and essential functions plan, and to maintain a facilities evacuation plan. This system will enable OFHEO to adequately coordinate a plan for preparedness and facilities evacuation in the event of an emergency. The Mortgage Fraud System will maintain information of mortgage fraud or possible mortgage fraud involving the Federal National Mortgage Association and the Federal Home Loan Mortgage Association (collectively referred to as the ``Enterprises''). This system is being established so that OFHEO may respond appropriately to mortgage fraud in furtherance of the safe and sound operations of the Enterprises. The Computer Systems Activity and Access Records System will be established to maintain, plan, and manage computer system services. It is necessary to ensure security and proper use of OFHEO electronic information and computer systems and services.