Federal Housing Finance Agency 2014 – Federal Register Recent Federal Regulation Documents

Federal Home Loan Banks' Affordable Housing Program
Document Number: 2014-30469
Type: Rule
Date: 2014-12-29
Agency: Federal Housing Finance Agency
Credit Risk Retention
Document Number: 2014-29256
Type: Rule
Date: 2014-12-24
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions, Federal Reserve System, Department of Housing and Urban Development, Securities and Exchange Commission, Office of the Comptroller of the Currency, Department of Treasury, Department of the Treasury, Federal Housing Finance Agency
The OCC, Board, FDIC, Commission, FHFA, and HUD (the agencies) are adopting a joint final rule (the rule, or the final rule) to implement the credit risk retention requirements of section 15G of the Securities Exchange Act of 1934, as added by section 941 of the Dodd- Frank Wall Street Reform and Consumer Protection Act (the Act or Dodd- Frank Act). Section 15G generally requires the securitizer of asset- backed securities to retain not less than 5 percent of the credit risk of the assets collateralizing the asset-backed securities. Section 15G includes a variety of exemptions from these requirements, including an exemption for asset-backed securities that are collateralized exclusively by residential mortgages that qualify as ``qualified residential mortgages,'' as such term is defined by the agencies by rule.
Housing Trust Fund
Document Number: 2014-29345
Type: Rule
Date: 2014-12-16
Agency: Federal Housing Finance Agency
The Federal Housing Finance Agency (FHFA) is issuing an interim final rule setting forth requirements related to allocations by the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac) (together, the Enterprises) to the Housing Trust and Capital Magnet Funds created by the Housing and Economic Recovery Act of 2008. The rule implements a statutory prohibition against the Enterprises passing the cost of such allocations through to the originators of loans they purchase or securitize.
Orders: Reporting by Regulated Entities of Stress Testing Results as of September 30, 2014
Document Number: 2014-28593
Type: Rule
Date: 2014-12-05
Agency: Federal Housing Finance Agency
In this document, the Federal Housing Finance Agency (FHFA) provides notice that it issued Orders dated December 1, 2014, with respect to reporting under section 165(i)(2) of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act).
Privacy Act of 1974; Systems of Records
Document Number: 2014-27912
Type: Notice
Date: 2014-11-25
Agency: Federal Housing Finance Agency
In accordance with the requirements of the Privacy Act of 1974, as amended (Privacy Act), the Federal Housing Finance Agency (FHFA) gives notices of two new proposed Privacy Act systems of records. The two new proposed systems are: Suspended Counterparty System (FHFA-23); and Employee Adverse Action and Disciplinary Records System (FHFA-24). The Suspended Counterparty System will contain information that FHFA will use to implement the Suspended Counterparty Program by which the Federal National Mortgage Association (Fannie Mae), the Federal Home Loan Mortgage Corporation (Freddie Mac), and the twelve Federal Home Loan Banks (Banks) (hereafter, collectively, ``regulated entities'' or individually, ``regulated entity'') are required to report to FHFA when they become aware that an individual or institution and any affiliates thereof, who are currently or have been engaged in a covered transaction with a regulated entity within three years of when the regulated entity becomes aware of covered misconduct, have engaged in fraud or other financial misconduct. The Employee Adverse Action and Disciplinary Records System will contain information on current or former FHFA employees who have been disciplined or had a performance-based action taken against them; who have a proposed disciplinary or performance-based action against them; or who are or have been suspected of misconduct.
Procedures and General Definitions
Document Number: 2014-25973
Type: Rule
Date: 2014-10-31
Agency: Federal Housing Finance Board, Agencies and Commissions, Federal Housing Finance Agency
The Federal Housing Finance Agency (FHFA) is amending its regulations by relocating to the FHFA chapter of the Code of Federal Regulations (CFR) a Federal Housing Finance Board (Finance Board) regulation relating to procedures under which the Federal Home Loan Banks (Banks) and the Office of Finance (OF) may request waivers, approvals, no-action letters, and regulatory interpretations. The final rule modifies these regulations to make them also applicable to the Federal National Mortgage Association and the Federal Home Loan Mortgage Corporation (collectively, Enterprises) and repeals provisions relating to the procedures for requesting case-by-case determinations. The final rule also relocates a definition to the general definitions section of the FHFA regulations.
Federal Home Loan Bank Members Selected for Community Support Review 2014-2015 Review Cycle-4th Round
Document Number: 2014-25970
Type: Notice
Date: 2014-10-31
Agency: Federal Housing Finance Agency
The Federal Housing Finance Agency (FHFA) is announcing the Federal Home Loan Bank (Bank) members it has selected for the 2014-2015 Review Cycle4th Round under FHFA's community support requirements regulation. This Notice also prescribes the deadline by which Bank members selected for this review cycle must submit Community Support Statements to FHFA.
Proposed Collection; Comment Request
Document Number: 2014-25923
Type: Notice
Date: 2014-10-31
Agency: Federal Housing Finance Agency
In accordance with the Paperwork Reduction Act of 1995, the Federal Housing Finance Agency (FHFA) is seeking public comments concerning the information collection known as ``Federal Home Loan Bank Directors,'' which has been assigned control number 2590-0006 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 October 31, 2014.
Federal Home Loan Bank Capital Stock and Capital Plans
Document Number: 2014-23799
Type: Proposed Rule
Date: 2014-10-08
Agency: Federal Housing Finance Board, Agencies and Commissions, Federal Housing Finance Agency
The proposed rule would transfer existing parts 931 and 933 of the Federal Housing Finance Board (Finance Board) regulations, which address requirements for Federal Home Loan Bank (Bank) capital stock and capital plans, to new Part 1277 of the Federal Housing Finance Agency (FHFA) regulations. The proposed rule would not make any substantive changes to these requirements, but would delete certain provisions that applied only to the one-time conversion of Bank stock to the new capital structure required by the Gramm-Leach-Bliley Act (GLB Act). It would also make certain clarifying changes so that the rules would more precisely reflect long-standing practices and requirements with regard to transactions in Bank stock. Most significantly, the proposed rule would add appropriate references to ``former members'' to clarify when former Bank members can be required to maintain investment in Bank capital stock after withdrawal from the Bank.
Members of Federal Home Loan Banks
Document Number: 2014-23893
Type: Proposed Rule
Date: 2014-10-07
Agency: Federal Housing Finance Agency
On September 12, 2014, the Federal Housing Finance Agency (FHFA) published in the Federal Register a notice of proposed rulemaking and request for comments proposing to amend its regulations governing Federal Home Loan Bank (Bank) membership. The comment period for the proposed rule is set to expire on November 12, 2014. This notice extends the comment period through and including January 12, 2015.
2015-2017 Enterprise Housing Goals
Document Number: C1-2014-21118
Type: Proposed Rule
Date: 2014-09-24
Agency: Federal Housing Finance Agency
Margin and Capital Requirements for Covered Swap Entities
Document Number: 2014-22001
Type: Proposed Rule
Date: 2014-09-24
Agency: Farm Credit Administration, Agencies and Commissions, Federal Deposit Insurance Corporation, Office of the Comptroller of the Currency, Department of Treasury, Department of the Treasury, Federal Housing Finance Agency, Board of Governors of the Federal Reserve System
The OCC, Board, FDIC, FCA, and FHFA (each an ``Agency'' and, collectively, the ``Agencies'') are seeking comment on a proposed joint rule to establish minimum margin and capital requirements for registered swap dealers, major swap participants, security-based swap dealers, and major security-based swap participants for which one of the Agencies is the prudential regulator. This proposed rule implements sections 731 and 764 of the Dodd-Frank Wall Street Reform and Consumer Protection Act, which require the Agencies to adopt rules jointly to establish capital requirements and initial and variation margin requirements for such entities and their counterparties on all non- cleared swaps and non-cleared security-based swaps in order to offset the greater risk to such entities and the financial system arising from the use of swaps and security-based swaps that are not cleared.
Members of Federal Home Loan Banks
Document Number: 2014-21114
Type: Proposed Rule
Date: 2014-09-12
Agency: Federal Housing Finance Agency
The Federal Housing Finance Agency (FHFA) is proposing to revise its regulations governing Federal Home Loan Bank (Bank) membership primarily to require each applicant and member institution to hold one percent of its assets in ``home mortgage loans'' in order to satisfy the statutory requirement that an institution make long-term home mortgage loans; require each member to comply on an ongoing basis, rather than on a one-time basis as at present, with the foregoing requirement and, where applicable, with the requirement that it have at least 10 percent of its assets in ``residential mortgage loans;'' define the term ``insurance company'' to exclude from Bank membership captive insurers, but permit existing captive members to remain members for five years with certain restrictions on their ability to obtain advances; require a Bank to obtain and review an insurance company's audited financial statements when considering it for membership; and clarify the standards by which an insurance company's ``principal place of business'' is to be identified in determining the appropriate Bank district for membership.
2015-2017 Enterprise Housing Goals
Document Number: 2014-21118
Type: Proposed Rule
Date: 2014-09-11
Agency: Federal Housing Finance Agency
The Federal Housing Finance Agency (FHFA) is issuing a proposed rule with request for comments regarding the housing goals for Fannie Mae and Freddie Mac (the Enterprises). The Federal Housing Enterprises Financial Safety and Soundness Act of 1992, as amended, (the Safety and Soundness Act) requires FHFA to establish annual housing goals for mortgages purchased by the Enterprises. The housing goals include separate categories for single-family and multifamily mortgages on housing that is affordable to low-income and very low- income families, among other categories. The existing housing goals for the Enterprises remain in effect through the end of 2014. This proposed rule would update the benchmark levels for each of the housing goals and subgoals for 2015 through 2017. The proposed rule would also establish a new housing subgoal for small multifamily properties affordable to low-income families. The proposed rule presents three alternatives for determining whether an Enterprise has met the single-family housing goals. The first option would keep the current approach, which compares the performance of the Enterprise both to a benchmark level and to a retrospective market level. The second option would use a benchmark level only, and the third option would use a retrospective market level only. The proposed rule would also revise a number of other provisions in order to provide greater clarity on the mortgages eligible for goal or subgoal categories. Specific changes include rules for counting shared living spaces such as student housing and rules for skilled nursing and seniors housing units. In addition, the proposed rule would make a number of clarifying and conforming changes, including revisions to the definitions of ``rent'' and ``utilities'' and to the rules for determining affordability of both single-family and multifamily units. FHFA also plans to require more detailed Enterprise reporting on their purchases of mortgages on single-family rental housing. Finally, the proposed rule would establish more transparent agency procedures if FHFA issues guidance on the housing goals in the future.
Federal Home Loan Bank Members Selected for Community Support Review 2014-2015 Review Cycle-3rd Round
Document Number: 2014-18977
Type: Notice
Date: 2014-08-11
Agency: Federal Housing Finance Agency
The Federal Housing Finance Agency (FHFA) is announcing the Federal Home Loan Bank (Bank) members it has selected for the 2014-2015 Review Cycle3rd Round under FHFA's community support requirements regulation. This Notice also prescribes the deadline by which Bank members selected for this review cycle must submit Community Support Statements to FHFA.
Proposed Collection; Comment Request
Document Number: 2014-18829
Type: Notice
Date: 2014-08-11
Agency: Federal Housing Finance Agency
In accordance with the Paperwork Reduction Act of 1995, the Federal Housing Finance Agency (FHFA) is seeking public comments concerning the information collection known as ``Federal Home Loan Bank Directors,'' which has been assigned control number 2590-0006 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 October 31, 2014.
Order: Supplemental Order on Reporting by Regulated Entities of Stress Testing Results as of September 30, 2013
Document Number: 2014-15396
Type: Rule
Date: 2014-07-01
Agency: Federal Housing Finance Agency
In this document, the Federal Housing Finance Agency (FHFA) provides notice that it issued an Order to supplement its Orders dated November 26, 2013 and December 13, 2013, with respect to the reporting of each Federal Home Loan Banks' results under section 165(i)(2) of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act).
Minority and Women Inclusion Amendments
Document Number: 2014-14512
Type: Proposed Rule
Date: 2014-06-25
Agency: Federal Housing Finance Agency
The Federal Housing Finance Agency (FHFA) is proposing to amend its regulation on minority and women inclusion by requiring the Federal Home Loan Banks (Banks), and the Office of Finance to include in the contents of their annual reports certain demographic information related to their boards of directors as well as a description of their related activities during the reporting year.
Orders: Supplemental Orders on Reporting by Regulated Entities of Stress Testing Results as of September 30, 2013
Document Number: 2014-10127
Type: Rule
Date: 2014-05-02
Agency: Federal Housing Finance Agency
In this document, the Federal Housing Finance Agency (FHFA) provides notice that it issued Orders to supplement its Orders dated November 26, 2013 and December 13, 2013, with respect to the Federal National Mortgage Association and Federal Home Loan Mortgage Corporation reporting results under section 165(i)(2) of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act).
Proposed Collection; Comment Request
Document Number: 2014-09997
Type: Notice
Date: 2014-05-01
Agency: Federal Housing Finance Agency
In accordance with the requirements of the Paperwork Reduction Act of 1995, the Federal Housing Finance Agency (FHFA) is seeking public comments concerning the existing information collection ``Monthly Survey of Rates and Terms on Conventional 1-Family Nonfarm Mortgage Loans,'' 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 expired on March 31, 2014.
Federal Home Loan Bank Members Selected for Community Support Review 2014-2015 Review Cycle-2nd Round
Document Number: 2014-09336
Type: Notice
Date: 2014-04-25
Agency: Federal Housing Finance Agency
The Federal Housing Finance Agency (FHFA) is announcing the Federal Home Loan Bank (Bank) members it has selected for the 2014-2015 Review Cycle2nd Round under the FHFA's community support requirements regulation. This notice also prescribes the deadline by which Bank members selected for review must submit Community Support Statements to FHFA.
Federal Home Loan Bank Members Selected for Community Support Review 2014-2015 Review Cycle-1st Round
Document Number: 2014-09232
Type: Notice
Date: 2014-04-23
Agency: Federal Housing Finance Agency
The Federal Housing Finance Agency (FHFA) is announcing the Federal Home Loan Bank (Bank) members it has selected for the 2014-2015 Review Cycle1st Round under the FHFA's community support requirements regulation. This notice also prescribes the deadline by which Bank members selected for review must submit Community Support Statements to FHFA.
Privacy Act of 1974; System of Records
Document Number: 2014-08566
Type: Notice
Date: 2014-04-16
Agency: Federal Housing Finance Agency
In accordance with the requirements of the Privacy Act of 1974, as amended, 5 U.S.C. 552a (Privacy Act), the Federal Housing Finance Agency (FHFA) gives notice of and requests comments on revisions to an existing system of records. The proposed revisions are to the system of records entitled ``National Mortgage Database Project'' (FHFA-21). The system of records covers the National Mortgage Database and the National Survey of Mortgage Borrowers.
Minimum Requirements for Appraisal Management Companies
Document Number: 2014-06860
Type: Proposed Rule
Date: 2014-04-09
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions, Federal Reserve System, Office of the Comptroller of the Currency, Department of Treasury, Department of the Treasury, Federal Housing Finance Agency, Bureau of Consumer Financial Protection
The OCC, Board, FDIC, NCUA, Bureau, and FHFA (collectively, the Agencies) are jointly proposing a rule to implement the minimum requirements in the Dodd-Frank Wall Street Reform and Consumer Protection Act (the Dodd-Frank Act or Act) to be applied by States in the registration and supervision of appraisal management companies (AMCs). The proposed rule also implements the requirement in the Dodd- Frank Act for States to report to the Appraisal Subcommittee of the Federal Financial Institutions Examination Council (FFIEC) the information required by the Appraisal Subcommittee (ASC) to administer the new national registry of appraisal management companies (AMC National Registry or Registry). In conjunction with this implementation, the FDIC is proposing to integrate its appraisal regulations for State nonmember banks and State savings associations.
Procedures
Document Number: 2014-06033
Type: Proposed Rule
Date: 2014-03-19
Agency: Federal Housing Finance Board, Agencies and Commissions, Federal Housing Finance Agency
The Federal Housing Finance Agency (FHFA) is proposing to amend its regulations by relocating to the FHFA chapter of the Code of Federal Regulations (CFR) a Federal Housing Finance Board (Finance Board) regulation relating to procedures under which the Federal Home Loan Banks (Banks) and the Office of Finance (OF) may request waivers, approvals, no-action letters, and regulatory interpretations. The proposed rule would modify these regulations to make them also available to the Federal National Mortgage Association and the Federal Home Loan Mortgage Corporation (collectively, Enterprises) and would repeal provisions relating to the procedures for requesting case-by- case determinations.
Responsibilities of Boards of Directors, Corporate Practices and Corporate Governance Matters
Document Number: 2014-04421
Type: Proposed Rule
Date: 2014-02-28
Agency: Federal Housing Enterprise Oversight Office, Department of Housing and Urban Development, Federal Housing Finance Board, Agencies and Commissions, Federal Housing Finance Agency
On January 28, 2014, the Federal Housing Finance Agency (FHFA) published in the Federal Register a notice of proposed rulemaking for public comment proposing to amend its regulations by relocating, consolidating, and modifying as necessary, certain Federal Housing Finance Board and Office of Federal Housing Enterprise Oversight regulations that pertain to the responsibilities of boards of directors, corporate practices, and corporate governance matters. The proposed rule would also amend a definition within FHFA's Prudential Management and Operations Standards regulations and the introductory language to the standards themselves. The comment period for the proposed rule is set to expire on March 31, 2014 April 29, 2014. This document extends the comment period by an additional 45 days, through and including May 15, 2014, to allow the public additional time to comment on the proposed rule.
Proposed Collection; Comment Request
Document Number: 2014-01742
Type: Notice
Date: 2014-01-30
Agency: Federal Housing Finance Agency
In accordance with the requirements of the Paperwork Reduction Act of 1995, the Federal Housing Finance Agency (FHFA) is seeking public comments concerning the currently-approved information collection ``Monthly Survey of Rates and Terms on Conventional 1-Family Nonfarm Mortgage Loans,'' 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 March 31, 2014.
Golden Parachute Payments
Document Number: 2014-01364
Type: Rule
Date: 2014-01-28
Agency: Federal Housing Finance Agency
The Federal Housing Finance Agency (FHFA) is issuing a final regulation amending the Golden Parachute Payments regulation that was published in the Federal Register on January 29, 2009. This final rule amendment (final rule) addresses prohibited and permissible golden parachute payments to entity-affiliated parties in connection with the Federal National Mortgage Association, the Federal Home Loan Mortgage Corporation, and the Federal Home Loan Banks (regulated entities) as well as the Office of Finance. Additionally, this final rule responds to public comments received by FHFA on the golden parachute payment provisions.
Executive Compensation
Document Number: 2014-01362
Type: Rule
Date: 2014-01-28
Agency: Federal Housing Enterprise Oversight Office, Department of Housing and Urban Development, Federal Housing Finance Agency
The Federal Housing Finance Agency (FHFA) is issuing a final rule that sets forth requirements and processes with respect to compensation provided to executive officers by the Federal National Mortgage Association, the Federal Home Loan Mortgage Corporation, the Federal Home Loan Banks, and the Federal Home Loan Bank System's Office of Finance, consistent with the safety and soundness responsibilities of FHFA under the Federal Housing Enterprises Financial Safety and Soundness Act of 1992, as amended by the Housing and Economic Recovery Act of 2008. This final rule affirms the establishment of 12 CFR part 1230 and removal of 12 CFR part 1770 by the interim final rule that is already in effect.
Responsibilities of Boards of Directors, Corporate Practices and Corporate Governance Matters
Document Number: 2014-01173
Type: Proposed Rule
Date: 2014-01-28
Agency: Federal Housing Enterprise Oversight Office, Department of Housing and Urban Development, Federal Housing Finance Board, Agencies and Commissions, Federal Housing Finance Agency
The Federal Housing Finance Agency (FHFA) is proposing to amend its regulations by relocating and consolidating certain Federal Housing Finance Board (Finance Board) and Office of Federal Housing Enterprise Oversight (OFHEO) regulations that pertain to the responsibilities of boards of directors, corporate practices, and corporate governance matters. The OFHEO regulations address corporate governance matters at the Federal National Mortgage Association and the Federal Home Loan Mortgage Corporation (Enterprises), while the Finance Board regulations address the powers and responsibilities of the boards of directors and management of the Federal Home Loan Banks (Banks). The proposed rule would consolidate most of those existing regulations into a new FHFA regulation, parts of which would apply to both the Banks and the Enterprises (together, regulated entities), and parts of which would apply only to the Banks or only to the Enterprises. Most of the content of the new regulation has been derived from the existing regulations, with such modifications as are necessary to apply certain provisions to all regulated entities. The proposal also would include a new provision on risk management and a new definition of ``credit risk,'' which is a term that is used only within the proposed risk management provision. Those provisions would apply to both the Banks and the Enterprises. FHFA also is proposing to amend a definition within its Prudential Management and Operations Standards (Prudential Standards) regulations and the introductory language to the standards themselves. Together, those amendments would explicitly include certain introductory languagepertaining to the general responsibilities of senior management and boards of directorsas part of the standards. The proposed rule also would repeal a separate provision of the OFHEO regulations that relate to minimum safety and soundness requirements.
Notice of Annual Adjustment of the Cap on Average Total Assets That Defines Community Financial Institutions
Document Number: 2014-00193
Type: Notice
Date: 2014-01-10
Agency: Federal Housing Finance Agency
The Federal Housing Finance Agency (FHFA) has adjusted the cap on average total assets that defines a ``Community Financial Institution'' based on the annual percentage increase in the Consumer Price Index for all urban consumers (CPI-U) as published by the Department of Labor (DOL). These changes took effect on January 1, 2014.