81_FR_15764 81 FR 15707 - Proposed Collection; Comment Request

81 FR 15707 - Proposed Collection; Comment Request

FEDERAL HOUSING FINANCE AGENCY

Federal Register Volume 81, Issue 57 (March 24, 2016)

Page Range15707-15718
FR Document2016-06590

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 the information collection known as the ``American Survey of Mortgage Borrowers'' (in a prior PRA Notice, this information collection was referred to as the ``National Survey of Existing Mortgage Borrowers''). This is a new collection that has not yet been assigned a control number 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 control number.

Federal Register, Volume 81 Issue 57 (Thursday, March 24, 2016) 
[Federal Register Volume 81, Number 57 (Thursday, March 24, 2016)]
[Notices]
[Pages 15707-15718]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2016-06590]


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FEDERAL HOUSING FINANCE AGENCY

[No. 2016-N-03]


Proposed Collection; Comment Request

AGENCY: Federal Housing Finance Agency.

ACTION: 30-day Notice of Submission of Information Collection for 
Approval from Office of Management and Budget.

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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 the information 
collection known as the ``American Survey of Mortgage Borrowers'' (in a 
prior PRA Notice, this information collection was referred to as the 
``National Survey of Existing Mortgage Borrowers''). This is a new 
collection that has not yet been assigned a control number 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 
control number.

DATES: Interested persons may submit comments on or before April 25, 
2016.

ADDRESSES: Submit comments to the Office of Information and Regulatory 
Affairs of the Office of Management and Budget, Attention: Desk Officer 
for the Federal Housing Finance Agency, Washington, DC 20503, Fax: 
(202) 395-3047, Email: [email protected]. Please also submit 
comments to FHFA, identified by ``Proposed Collection; Comment Request: 
`American Survey of Mortgage Borrowers, (No. 2016-N-03)' '' 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 [email protected] 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: ``American Survey of Mortgage 
Borrowers, (No. 2016-N-03)''.
    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

[[Page 15708]]

comments, please call the Office of General Counsel at (202) 649-3804.

FOR FURTHER INFORMATION CONTACT: Forrest Pafenberg, Supervisory Policy 
Analyst, Office of the Chief Operating Officer, by email at 
[email protected] or by telephone at (202) 649-3129; or Eric 
Raudenbush, Assistant General Counsel, by email at 
[email protected] or by telephone at (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 
Deaf is (800) 877-8339.

SUPPLEMENTARY INFORMATION: 

A. Need For and Use of the Information Collection

    FHFA is seeking OMB clearance under the PRA for a new collection of 
information known as the ``American Survey of Mortgage Borrowers'' 
(ASMB).\1\ The ASMB will be a periodic, voluntary survey of individuals 
who currently have a first mortgage loan secured by single-family 
residential property. The survey questionnaire will consist of 
approximately 90 questions designed to learn directly from mortgage 
borrowers about their mortgage experience, any challenges they may have 
had in maintaining their mortgage and, where applicable, terminating a 
mortgage. It will request specific information on: The mortgage; the 
mortgaged property; the borrower's experience with the loan servicer; 
and the borrower's financial resources and financial knowledge. FHFA is 
also seeking clearance to pretest the survey questionnaire and related 
materials from time to time through the use of focus groups. A draft of 
the survey questionnaire appears at the end of this notice.
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    \1\ In the initial PRA Notice published in the Federal Register 
for this information collection, the survey was referred to as the 
``National Survey of Existing Mortgage Borrowers.'' See 80 FR 69664 
(Nov. 10, 2015).
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    The ASMB will be a component of the larger ``National Mortgage 
Database'' (NMDB) Project, which is a multi-year joint effort of FHFA 
and the Consumer Financial Protection Bureau (CFPB) (although the ASMB 
is being sponsored only by FHFA). The NMDB Project is designed to 
satisfy the Congressionally-mandated requirements of section 1324(c) of 
the Federal Housing Enterprises Financial Safety and Soundness Act of 
1992, as amended by the Housing and Economic Recovery Act of 2008.\2\ 
Section 1324(c) requires that FHFA conduct a monthly survey to collect 
data on the characteristics of individual prime and subprime mortgages, 
and on the borrowers and properties associated with those mortgages, in 
order to enable it to prepare a detailed annual report on the mortgage 
market activities of the Federal National Mortgage Association (Fannie 
Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac) for 
review by the appropriate Congressional oversight committees. Section 
1324(c) also authorizes and requires FHFA to compile a database of 
timely and otherwise unavailable residential mortgage market 
information to be made available to the public.
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    \2\ 12 U.S.C. 4544(c).
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    In order to fulfill those and other statutory mandates, as well as 
to support policymaking and research efforts, FHFA and CFPB committed 
in July 2012 to fund, build and manage the NMDB Project. When fully 
complete, the NMDB will be a de-identified loan-level database of 
closed-end first-lien residential mortgages. It will: (1) Be 
representative of the market as a whole; (2) contain detailed, loan-
level information on the terms and performance of mortgages, as well as 
characteristics of the associated borrowers and properties; (3) be 
continually updated; (4) have an historical component dating back 
before the financial crisis of 2008; and (5) provide a sampling frame 
for surveys to collect additional information.
    The core data in the NMDB are drawn from a random 1-in-20 sample of 
all closed-end first-lien mortgage files outstanding at any time 
between January 1998 and the present in the files of Experian, one of 
the three national credit repositories. A random 1-in-20 sample of 
mortgages newly reported to Experian is added each quarter. The NMDB 
also draws information on mortgages in the NMDB datasets from other 
existing sources, including the Home Mortgage Disclosure Act (HMDA) 
database that is maintained by the Federal Financial Institutions 
Examination Council (FFIEC), property valuation models, and data files 
maintained by Fannie Mae and Freddie Mac and by federal agencies. 
Currently, FHFA obtains additional data from its quarterly National 
Survey of Mortgage Borrowers (NSMB), which provides critical and timely 
information on newly-originated mortgages and those borrowing that are 
not available from any existing source, including: The range of 
nontraditional and subprime mortgage products being offered, the 
methods by which these mortgages are being marketed, and the 
characteristics of borrowers for these types of loans.\3\
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    \3\ OMB has cleared the NSMB under the PRA and assigned it 
control no. 2590-0012. The current OMB clearance expires on December 
31, 2016.
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    While the quarterly NSMB provides information on newly-originated 
mortgages, it does not solicit borrowers' experience with maintaining 
their existing mortgages; nor is detailed information on that topic 
available from any other existing source. The ASMB will solicit such 
information, including information on borrowers' experience with 
maintaining a mortgage under financial stress, their experience in 
soliciting financial assistance, their success in accessing federally-
sponsored programs designed to assist them, and, where applicable, any 
challenges they may have had in terminating a mortgage loan. The ASMB 
questionnaire will be sent out to a stratified random sample of 10,000 
borrowers in the NMDB. The ASMB assumes a 25 percent overall response 
rate, which would yield 2,500 survey responses.
    The information collected through the ASMB questionnaire will be 
used, in combination with information obtained from existing sources in 
the NMDB, to assist FHFA in understanding how the performance of 
existing mortgages is influencing the residential mortgage market, what 
different borrower groups are discussing with their servicers when they 
are under financial stress, and consumers' opinions of federally-
sponsored programs designed to assist them. This important, but 
currently unavailable, information will assist the Agency in the 
supervision of its regulated entities (Fannie Mae, Freddie Mac, and the 
Federal Home Loan Banks) and in the development and implementation of 
appropriate and effective policies and programs. The information may 
also be used for research and analysis by other federal agencies that 
have regulatory and supervisory responsibilities/mandates related to 
mortgage markets and to provide a resource for research and analysis by 
academics and other interested parties outside of the government.
    FHFA expects that, in the process of developing the initial and any 
subsequent ASMB survey questionnaires and related materials, it will 
sponsor one or more focus groups to pretest those materials. Such 
pretesting will ultimately help to ensure that the survey respondents 
can and will answer the survey questions and will provide useful data 
on their experiences with maintaining their existing mortgages. FHFA 
will use

[[Page 15709]]

information collected through the focus groups to assist in drafting 
and modifying the survey questions and instructions, as well as the 
related communications, to read in the way that will be most readily 
understood by the survey respondents and that will be most likely to 
elicit usable responses. Such information will also be used to help the 
Agency decide on how best to organize and format the survey 
questionnaire.

B. Burden Estimate

    While FHFA currently has firm plans to conduct the survey only 
once--in the second quarter of 2016--it may decide to conduct further 
periodic ASMB surveys once the first survey is completed. The Agency 
therefore estimates that the survey will be conducted, on average, once 
annually over the next three years and that it will conduct pre-testing 
on each set of annual survey materials. FHFA has analyzed the hour 
burden on members of the public associated with conducting the survey 
(5,000 hours) and with pre-testing the survey materials (24 hours) and 
estimates the total annual hour burden imposed on the public by this 
information collection to be 5,024 hours. The estimate for each phase 
of the collection was calculated as follows:

I. Conducting the Survey

    FHFA estimates that the ASMB questionnaire will be sent to 10,000 
recipients each time it is conducted. Although the Agency expects only 
2,500 of those surveys to be returned, it assumes that all of the 
surveys will be returned for purposes of this burden calculation. Based 
on the reported experience of respondents to the quarterly NSMB 
questionnaire, which contains a similar number of questions, FHFA 
estimates that it will take each respondent 30 minutes to complete each 
survey, including the gathering of necessary materials to respond to 
the questions. This results in a total annual burden estimate of 5,000 
hours for the survey phase of this collection (1 survey per year x 
10,000 respondents per survey x 30 minutes per respondent = 5,000 
hours).

II. Pre-Testing the Materials

    FHFA estimates that it will sponsor two focus groups prior to 
conducting each survey, with 12 participants in each focus group, for a 
total of 24 focus group participants. It estimates the participation 
time for each focus group participant to be one hour, resulting in a 
total annual burden estimate of 24 hours for the pre-testing phase of 
the collection (2 focus groups per year x 12 participants in each group 
x 1 hour per participant = 24 hours).

C. Comment Request

Comments Received in Response to the Initial Notice
    In accordance with the requirements of 5 CFR 1320.8(d), FHFA 
published a request for public comments regarding this information 
collection in the Federal Register on November 10, 2015.\4\ The 60-day 
comment period closed on January 11, 2016. FHFA received two comment 
letters--one from an individual and one from a group of trade 
associations representing various constituencies in the financial 
services industry. The letter from the individual was not responsive to 
any of the questions in the notice and contained no comments relating 
to the ASMB, the NMBD Project, or any issues arising under the PRA.
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    \4\ See 80 FR 69664 (Nov. 10, 2015).
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    The trade associations' letter raised two issues that are relevant 
to the compliance of the ASMB with the PRA. First, the trade 
associations asserted that the information FHFA seeks to collect 
through the ASMB is, or could soon be, available from other sources and 
urged the Agency ``to again review existing surveys and data collection 
efforts to identify redundancies.'' The letter cites numerous existing 
sources of quantitative data about mortgage borrowers, loan terms, 
mortgaged properties and the origination and maintenance of first lien 
mortgages. However, most of the data sources cited are those from which 
the NMDB has drawn the bulk of its existing data. None of those sources 
(nor any other sources of which FHFA is aware) provide the type of 
qualitative information regarding borrowers' experience with 
maintaining a mortgage or their interactions with mortgage servicers 
that FHFA seeks to obtain through this information collection.
    Second, noting that the draft ASMB questionnaire published with the 
initial PRA Notice in the Federal Register was not the final version of 
the survey instrument, the trade associations urged FHFA ``to solicit 
additional public input on the substance of the survey when it is 
complete and before FHFA puts it into use.'' An updated draft of the 
survey questionnaire appears at the end of this notice. The trade 
associations, as well as any other interested parties, will have 30 
days within which to review the updated survey and to provide comments 
to both OMB and FHFA.
Further Comments Requested in Response to This Notice
    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 survey respondents, 
including through the use of automated collection techniques or other 
forms of information technology.

    Dated: March 17, 2016.
Kevin Winkler,
Chief Information Officer, Federal Housing Finance Agency.

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[FR Doc. 2016-06590 Filed 3-23-16; 8:45 am]
BILLING CODE 8070-01-P

Federal Register / Vol. 81, No. 57 / Thursday, March 24, 2016 / Notices 15707 ADDRESSES: Interested parties are • Hand Delivery: Comments may be FOR FURTHER INFORMATION CONTACT: Gary invited to submit written comments to hand-delivered to the guard station at Kuiper or Manuel Cabeza, at the FDIC the FDIC by any of the following the rear of the 17th Street Building address above. methods: (located on F Street), on business days SUPPLEMENTARY INFORMATION: Proposal • http://www.FDIC.gov/regulations/ between 7:00 a.m. and 5:00 p.m. to renew the following currently- laws/federal/. approved collection of information: • Email: comments@fdic.gov. Include All comments should refer to the the name and number of the collection relevant OMB control number. A copy Title: Qualifications for Failed Bank in the subject line of the message. of the comments may also be submitted Acquisitions. • Mail: Gary A. Kuiper to the OMB desk officer for the FDIC: OMB Number: 3064–0169. (202.898.3877), Counsel, MB–3016 or Office of Information and Regulatory Form Numbers: None. Manuel E. Cabeza (202.898.3767), Affairs, Office of Management and Affected Public: Private sector and Counsel MB–3105, Federal Deposit Budget, New Executive Office Building, insured state nonmember banks and Insurance Corporation, 550 17th Street Washington, DC 20503. savings associations. NW., Washington, DC 20429. Burden Estimate: Number of Average hours Responses Total hours respondents per response per year Investor Reports on Affiliates (reporting burden) ............................................ 20 2 12 480 Maintenance of Business Books (record keeping burden) ............................. 5 2 4 40 Disclosures Regarding Investors and Entities in Ownership Chain (reporting burden) ......................................................................................................... 20 4 4 ≤320 Total Burden Hours .................................................................................. ........................ ........................ ........................ 840 General Description: The FDIC’s Federal Deposit Insurance Corporation. Affairs of the Office of Management and policy statement on Qualifications for Robert E. Feldman, Budget, Attention: Desk Officer for the Failed Bank Acquisitions provides Executive Secretary. Federal Housing Finance Agency, guidance to private capital investors [FR Doc. 2016–06648 Filed 3–23–16; 8:45 am] Washington, DC 20503, Fax: (202) 395– interested in acquiring or investing in BILLING CODE 6714–01–P 3047, Email: OIRA_submission@ failed insured depository institutions omb.eop.gov. Please also submit regarding the terms and conditions for comments to FHFA, identified by such investments or acquisitions. The FEDERAL HOUSING FINANCE ‘‘Proposed Collection; Comment information collected pursuant to the AGENCY Request: ‘American Survey of Mortgage policy statement allows the FDIC to Borrowers, (No. 2016–N–03)’ ’’ by any of [No. 2016–N–03] the following methods: evaluate, among other things, whether such investors (and their related • Agency Web site: www.fhfa.gov/ Proposed Collection; Comment interests) could negatively impact the open-for-comment-or-input. Request Deposit Insurance Fund, increase • Federal eRulemaking Portal: http:// resolution costs, or operate in a manner AGENCY: Federal Housing Finance www.regulations.gov. Follow the that conflict with statutory safety and Agency. instructions for submitting comments. If ACTION: 30-day Notice of Submission of you submit your comment to the soundness principles and compliance Information Collection for Approval Federal eRulemaking Portal, please also requirements. from Office of Management and Budget. send it by email to FHFA at Request for Comment RegComments@fhfa.gov to ensure SUMMARY: In accordance with the timely receipt by the Agency. Comments are invited on: (a) Whether requirements of the Paperwork • Mail/Hand Delivery: Federal the collection of information is Reduction Act of 1995 (PRA), the Housing Finance Agency, Eighth Floor, necessary for the proper performance of Federal Housing Finance Agency (FHFA 400 Seventh Street SW., Washington, the FDIC’s functions, including whether or the Agency) is seeking public DC 20219, ATTENTION: Proposed the information has practical utility; (b) comments concerning the information Collection; Comment Request: the accuracy of the estimates of the collection known as the ‘‘American ‘‘American Survey of Mortgage burden of the collection of information, Survey of Mortgage Borrowers’’ (in a Borrowers, (No. 2016–N–03)’’. including the validity of the prior PRA Notice, this information We will post all public comments we methodology and assumptions used; (c) collection was referred to as the receive without change, including any ways to enhance the quality, utility, and ‘‘National Survey of Existing Mortgage personal information you provide, such clarity of the information to be Borrowers’’). This is a new collection as your name and address, email collected; and (d) ways to minimize the that has not yet been assigned a control address, and telephone number, on the number by the Office of Management FHFA Web site at http://www.fhfa.gov. asabaliauskas on DSK3SPTVN1PROD with NOTICES burden of the collection of information and Budget (OMB). FHFA intends to In addition, copies of all comments on respondents, including through the submit the information collection to received will be available for use of automated collection techniques OMB for review and approval of a three- examination by the public on business or other forms of information year control number. technology. All comments will become days between the hours of 10 a.m. and DATES: Interested persons may submit 3 p.m., at the Federal Housing Finance a matter of public record. comments on or before April 25, 2016. Agency, Eighth Floor, 400 Seventh Dated at Washington, DC, this 21st day of ADDRESSES: Submit comments to the Street SW., Washington, DC 20219. To March 2016. Office of Information and Regulatory make an appointment to inspect VerDate Sep<11>2014 17:44 Mar 23, 2016 Jkt 238001 PO 00000 Frm 00031 Fmt 4703 Sfmt 4703 E:\FR\FM\24MRN1.SGM 24MRN1

15708 Federal Register / Vol. 81, No. 57 / Thursday, March 24, 2016 / Notices comments, please call the Office of collect data on the characteristics of being marketed, and the characteristics General Counsel at (202) 649–3804. individual prime and subprime of borrowers for these types of loans.3 FOR FURTHER INFORMATION CONTACT: mortgages, and on the borrowers and While the quarterly NSMB provides Forrest Pafenberg, Supervisory Policy properties associated with those information on newly-originated Analyst, Office of the Chief Operating mortgages, in order to enable it to mortgages, it does not solicit borrowers’ Officer, by email at Forrest.Pafenberg@ prepare a detailed annual report on the experience with maintaining their fhfa.gov or by telephone at (202) 649– mortgage market activities of the Federal existing mortgages; nor is detailed 3129; or Eric Raudenbush, Assistant National Mortgage Association (Fannie information on that topic available from General Counsel, by email at Mae) and the Federal Home Loan any other existing source. The ASMB Eric.Raudenbush@fhfa.gov or by Mortgage Corporation (Freddie Mac) for will solicit such information, including telephone at (202) 649–3084, (these are information on borrowers’ experience review by the appropriate Congressional not toll-free numbers), Federal Housing with maintaining a mortgage under oversight committees. Section 1324(c) Finance Agency, 400 Seventh Street financial stress, their experience in also authorizes and requires FHFA to SW., Washington, DC 20219. The soliciting financial assistance, their compile a database of timely and Telecommunications Device for the Deaf success in accessing federally-sponsored otherwise unavailable residential programs designed to assist them, and, is (800) 877–8339. mortgage market information to be made where applicable, any challenges they SUPPLEMENTARY INFORMATION: available to the public. may have had in terminating a mortgage A. Need For and Use of the Information In order to fulfill those and other loan. The ASMB questionnaire will be Collection statutory mandates, as well as to sent out to a stratified random sample FHFA is seeking OMB clearance support policymaking and research of 10,000 borrowers in the NMDB. The under the PRA for a new collection of efforts, FHFA and CFPB committed in ASMB assumes a 25 percent overall information known as the ‘‘American July 2012 to fund, build and manage the response rate, which would yield 2,500 Survey of Mortgage Borrowers’’ NMDB Project. When fully complete, survey responses. the NMDB will be a de-identified loan- The information collected through the (ASMB).1 The ASMB will be a periodic, level database of closed-end first-lien ASMB questionnaire will be used, in voluntary survey of individuals who residential mortgages. It will: (1) Be combination with information obtained currently have a first mortgage loan representative of the market as a whole; from existing sources in the NMDB, to secured by single-family residential (2) contain detailed, loan-level assist FHFA in understanding how the property. The survey questionnaire will information on the terms and performance of existing mortgages is consist of approximately 90 questions performance of mortgages, as well as influencing the residential mortgage designed to learn directly from mortgage characteristics of the associated market, what different borrower groups borrowers about their mortgage borrowers and properties; (3) be are discussing with their servicers when experience, any challenges they may continually updated; (4) have an they are under financial stress, and have had in maintaining their mortgage historical component dating back before consumers’ opinions of federally- and, where applicable, terminating a the financial crisis of 2008; and (5) sponsored programs designed to assist mortgage. It will request specific provide a sampling frame for surveys to them. This important, but currently information on: The mortgage; the collect additional information. unavailable, information will assist the mortgaged property; the borrower’s Agency in the supervision of its experience with the loan servicer; and The core data in the NMDB are drawn regulated entities (Fannie Mae, Freddie the borrower’s financial resources and from a random 1-in-20 sample of all Mac, and the Federal Home Loan Banks) financial knowledge. FHFA is also closed-end first-lien mortgage files and in the development and seeking clearance to pretest the survey outstanding at any time between implementation of appropriate and questionnaire and related materials from January 1998 and the present in the files effective policies and programs. The time to time through the use of focus of Experian, one of the three national information may also be used for groups. A draft of the survey credit repositories. A random 1-in-20 research and analysis by other federal questionnaire appears at the end of this sample of mortgages newly reported to agencies that have regulatory and notice. Experian is added each quarter. The The ASMB will be a component of the supervisory responsibilities/mandates NMDB also draws information on related to mortgage markets and to larger ‘‘National Mortgage Database’’ mortgages in the NMDB datasets from provide a resource for research and (NMDB) Project, which is a multi-year other existing sources, including the analysis by academics and other joint effort of FHFA and the Consumer Home Mortgage Disclosure Act (HMDA) interested parties outside of the Financial Protection Bureau (CFPB) database that is maintained by the government. (although the ASMB is being sponsored Federal Financial Institutions FHFA expects that, in the process of only by FHFA). The NMDB Project is Examination Council (FFIEC), property developing the initial and any designed to satisfy the Congressionally- valuation models, and data files subsequent ASMB survey mandated requirements of section maintained by Fannie Mae and Freddie questionnaires and related materials, it 1324(c) of the Federal Housing Mac and by federal agencies. Currently, will sponsor one or more focus groups Enterprises Financial Safety and FHFA obtains additional data from its to pretest those materials. Such Soundness Act of 1992, as amended by quarterly National Survey of Mortgage pretesting will ultimately help to ensure the Housing and Economic Recovery asabaliauskas on DSK3SPTVN1PROD with NOTICES Borrowers (NSMB), which provides that the survey respondents can and Act of 2008.2 Section 1324(c) requires critical and timely information on will answer the survey questions and that FHFA conduct a monthly survey to newly-originated mortgages and those will provide useful data on their 1 In the initial PRA Notice published in the borrowing that are not available from experiences with maintaining their Federal Register for this information collection, the any existing source, including: The existing mortgages. FHFA will use survey was referred to as the ‘‘National Survey of range of nontraditional and subprime Existing Mortgage Borrowers.’’ See 80 FR 69664 3 OMB has cleared the NSMB under the PRA and (Nov. 10, 2015). mortgage products being offered, the assigned it control no. 2590–0012. The current 2 12 U.S.C. 4544(c). methods by which these mortgages are OMB clearance expires on December 31, 2016. VerDate Sep<11>2014 17:44 Mar 23, 2016 Jkt 238001 PO 00000 Frm 00032 Fmt 4703 Sfmt 4703 E:\FR\FM\24MRN1.SGM 24MRN1

Federal Register / Vol. 81, No. 57 / Thursday, March 24, 2016 / Notices 15709 information collected through the focus survey phase of this collection (1 survey quantitative data about mortgage groups to assist in drafting and per year × 10,000 respondents per borrowers, loan terms, mortgaged modifying the survey questions and survey × 30 minutes per respondent = properties and the origination and instructions, as well as the related 5,000 hours). maintenance of first lien mortgages. communications, to read in the way that However, most of the data sources cited II. Pre-Testing the Materials will be most readily understood by the are those from which the NMDB has survey respondents and that will be FHFA estimates that it will sponsor drawn the bulk of its existing data. None most likely to elicit usable responses. two focus groups prior to conducting of those sources (nor any other sources Such information will also be used to each survey, with 12 participants in of which FHFA is aware) provide the help the Agency decide on how best to each focus group, for a total of 24 focus type of qualitative information regarding organize and format the survey group participants. It estimates the borrowers’ experience with maintaining questionnaire. participation time for each focus group a mortgage or their interactions with participant to be one hour, resulting in mortgage servicers that FHFA seeks to B. Burden Estimate a total annual burden estimate of 24 obtain through this information While FHFA currently has firm plans hours for the pre-testing phase of the collection. to conduct the survey only once—in the collection (2 focus groups per year × 12 Second, noting that the draft ASMB second quarter of 2016—it may decide participants in each group × 1 hour per questionnaire published with the initial to conduct further periodic ASMB participant = 24 hours). PRA Notice in the Federal Register was surveys once the first survey is not the final version of the survey completed. The Agency therefore C. Comment Request instrument, the trade associations urged estimates that the survey will be Comments Received in Response to the FHFA ‘‘to solicit additional public input conducted, on average, once annually Initial Notice on the substance of the survey when it over the next three years and that it will is complete and before FHFA puts it conduct pre-testing on each set of In accordance with the requirements of 5 CFR 1320.8(d), FHFA published a into use.’’ An updated draft of the annual survey materials. FHFA has survey questionnaire appears at the end analyzed the hour burden on members request for public comments regarding this information collection in the of this notice. The trade associations, as of the public associated with conducting well as any other interested parties, will the survey (5,000 hours) and with pre- Federal Register on November 10, 2015.4 The 60-day comment period have 30 days within which to review testing the survey materials (24 hours) the updated survey and to provide and estimates the total annual hour closed on January 11, 2016. FHFA received two comment letters—one from comments to both OMB and FHFA. burden imposed on the public by this information collection to be 5,024 an individual and one from a group of Further Comments Requested in hours. The estimate for each phase of trade associations representing various Response to This Notice the collection was calculated as follows: constituencies in the financial services industry. The letter from the individual FHFA requests written comments on I. Conducting the Survey was not responsive to any of the the following: (1) Whether the collection questions in the notice and contained of information is necessary for the FHFA estimates that the ASMB no comments relating to the ASMB, the proper performance of FHFA functions, questionnaire will be sent to 10,000 NMBD Project, or any issues arising including whether the information has recipients each time it is conducted. under the PRA. practical utility; (2) The accuracy of Although the Agency expects only 2,500 The trade associations’ letter raised FHFA’s estimates of the burdens of the of those surveys to be returned, it two issues that are relevant to the collection of information; (3) Ways to assumes that all of the surveys will be compliance of the ASMB with the PRA. enhance the quality, utility, and clarity returned for purposes of this burden First, the trade associations asserted that of the information collected; and (4) calculation. Based on the reported the information FHFA seeks to collect Ways to minimize the burden of the experience of respondents to the through the ASMB is, or could soon be, collection of information on survey quarterly NSMB questionnaire, which available from other sources and urged respondents, including through the use contains a similar number of questions, the Agency ‘‘to again review existing of automated collection techniques or FHFA estimates that it will take each surveys and data collection efforts to other forms of information technology. respondent 30 minutes to complete each survey, including the gathering of identify redundancies.’’ The letter cites Dated: March 17, 2016. necessary materials to respond to the numerous existing sources of Kevin Winkler, questions. This results in a total annual Chief Information Officer, Federal Housing burden estimate of 5,000 hours for the 4 See 80 FR 69664 (Nov. 10, 2015). Finance Agency. asabaliauskas on DSK3SPTVN1PROD with NOTICES VerDate Sep<11>2014 17:44 Mar 23, 2016 Jkt 238001 PO 00000 Frm 00033 Fmt 4703 Sfmt 4703 E:\FR\FM\24MRN1.SGM 24MRN1

15710 Federal Register/Vol. 81, No. 57/Thursday, March 24, 2016 / Notices 1. Looking back to January 1, 2015 did you have 7. In January 2015, what was the interest rate on at least one mortgage loan on a residence that this mortgage? was outstanding at that time (could be your home or house lived in by others)? ————% {A Don‘t know C Yes > If you had more than one mortgage loan outstanding on January 1, 2015, please 3 Including you, how many people signed/ refer to your experience with a first lien * on a property, NOT a second lien, home co—signed for this mortgage? equity loan, or a home equity line of credit A a q 2 5 3 A 4 (HELOC). If you had more than one such 2 or more mortgage please refer to the one with the 9. Does/did this mortgage have any of the 1 1 . . argest balance following features? Don‘t C No —> If you did not have a mortgage loan Yes No Know outstanding please return the blank questionnaire so we know the survey does A prepayment penalty (fee ifthe not apply to you. The money enclosed is mortgage is paid offearly) U o o yours to keep. An escrow account for taxes and/or homeowner insurance O O O 2. Did we mail this survey to the address of the An adjustable rate (one that can house or property that has this mortgage? change over the life ofthe loan) L L H A balloon payment O O O L Yes Interest—only monthly payments O O O L No 10. When you took out this mortgage, how satisfied 3. What was the primary purpose of the were you with the... Not mortgage you had on January 1, 2015? Very Somewhat At All Mark one answer. Lender/broker you used O O O C To purchase the property Application process . [ [ [ 0 To refinance or modify an earlier mortgage Documentation process required . . for the loan O O O C Permanent financing of a construction loan . Loan closing process O O O C New loan on a mortgage—free property 1009 L Some other purpose (specify) Information in mortgage pup peoul) disclosure documents O O O Timeliness of mortgage 4. When did you take out this mortgage? disclosure documents O OA O O Settlement agent / month year 11 . Overall, how satisfied were you at the time you . took out this mortgage that it was the one with 5. What was the amount of this loan (the dollar the... amount you borrowed)? Not Very Somewhat At All $______ 00 Best terms to fit your needs O O O , Lowest interest rate you could 0 Don‘t know quahfy for O O O Lowest closing cost O O O 6. In January 2015, what was the monthly payment (including the amount paid to escrow for taxes and insurance, if any)? $ . 00 0 Don‘t know

Federal Register / Vol. 81, No. 57 / Thursday, March 24, 2016 / Notices 15711 12. What type of house is/was on the property associated with the mortgage you had on January 1, 2015? Mark one answer. 18. Thinking about the neighborhood where this D Single-family detached house property is located, how have the following D Townhouse, row house, or villa changed in the last couple of years? D Mobile home or manufactured home Significant Little/No Significant D 2-unit, 3-unit, or 4-unit dwelling Increase Change Decrease D Condo, apartment house, or co-op Number of homes for sale D D D D Unit in a partly commercial structure Number of vacant homes D D D D Other (specify) _ _ _ _ _ _ __ Number of homes for rent D D D Number of foreclosures or 13. When did you buy or acquire this short sales D D D property? If you refinanced, the date you House prices D D D originally acquired the property. Overall desirability of ___./ living there D D D month year 19. What do you think will happen to the prices of 14. What was the purchase price of this property, homes in this neighborhood over the next or if you built it, the construction and land couple of years? cost? D Increase a lot $_ _ _ _ _ _ .00 D Don'tknow D Increase a little D Remain about the same 15. About how much do you think this property is D Decrease a little worth today; that is, what could it sell for now? D Decrease a lot $_ _ _ _ _ _ .00 D Don'tknow 20. In the next couple of years, how do you expect the overall desirability of living in this 16. How did you use this property on January 1, neighborhood to change? 2015? Mark one answer. D Become more desirable D Primary residence (where you spent the majority of your time) D Stay about the same D Seasonal or second home D Become less desirable D Home for other relatives D Rental or investor property D Other (specify) _ _ _ _ _ __ 21. At any time did the loan servicer, the company 17. How do you use this property today? where you send your monthly payments, of the Mark one answer. loan you had in January 2015, change? D Primary residence (where you spend the D No Skip to Q23 on page 3 majority ofyour time) D Yes 1- D Seasonal or second home D Home for other relatives 22. When the servicer changed ... Yes No D Rental or investor property Did the new servicer inform you when D Other (specify) _ _ _ _ _ _ __ and where to send your payments? D D Did the due date or frequency of asabaliauskas on DSK3SPTVN1PROD with NOTICES D No longer have the property payments change? D D Were payments applied correctly? D D EN24MR16.003</GPH> VerDate Sep<11>2014 17:44 Mar 23, 2016 Jkt 238001 PO 00000 Frm 00035 Fmt 4703 Sfmt 4725 E:\FR\FM\24MRN1.SGM 24MRN1

15712 Federal Register / Vol. 81, No. 57 / Thursday, March 24, 2016 / Notices 23. Thinking about the current servicer (or last one 29. Did you do any of the following when you had if you no longer have this loan) do they or did concerns or difficulties paying this mortgage? they ... Yes No Yes No Got help from family or friends D D Send out monthly statements D D Borrowed money (e.g. credit cards, Apply payments correctly D D payday loans) D D Provide clear information on how to contact them D D Reduced monthly e.x:penses D D Sold other assets D D 24. Did this servicer ever contact you other than to Loan or cash out of a retirement account D D provide regular statements? Rented part of the house D D Increased work hours D D DYes Found a better paying job D D DNo Found a second job D D 25. Did you ever contact this servicer to ... Spouse or partner started working D D Consolidated debt D D Yes Nu File or considered filing for bankruptcy D D Confirm receipt of a payment D D Put the property on the market, but did not Correct errors in your file D D receive an acceptable offer D D Ask about escrow or property taxes D D Other (specify) D D Ask about pre-paying or paying more than the required regular payment D D D None of the above 26. At any point during the past several years, did 30. When you faced these difficulties, what you face any difficulties making payments on happened to the mortgage payments? the loan you had in January 2015? D Still made all the payments on time D No Skip to Q40 on page 4 D Made (at least) one late payment but did not miss any payment DYes l, D Missed (at least) one payment but did not stop 27. Were these difficulties serious enough that paying you or your lender/servicer had concerns D Stopped paying altogether that you might not be able to afford the 31. Did you ever speak with the servicer? mortgage or continue living in your home? D Yes Skip to Q34 on page 4 DYes D No D No lt 32. Did the servicer ever attempt to contact 28. Thinking about the most serious of these you? occasions, did any of these factors contribute or not contribute to your difficulties? DYes Yes No D No Job loss D D Business failure D D 33. Did you try to reach the servicer but they Separation or divorce D D did not respond? Illness, disability or death of someone in your household D D DYes Disaster affecting this property D D D No A change in mortgage payments D D Unexpected expenses D D Now skip to Q36 on page 4 asabaliauskas on DSK3SPTVN1PROD with NOTICES Large credit card debt D D Something else (specify) D D D None of the above EN24MR16.004</GPH> VerDate Sep<11>2014 17:44 Mar 23, 2016 Jkt 238001 PO 00000 Frm 00036 Fmt 4703 Sfmt 4725 E:\FR\FM\24MRN1.SGM 24MRN1

Federal Register / Vol. 81, No. 57 / Thursday, March 24, 2016 / Notices 15713 34. When you talked with your mortgage 38. How well did you understand the options lender/servicer, did you talk or not talk about presented to you by the lender/servicer? each of the following? Yes No OVery D Somewhat D Not at all Refinancing D D Loan modification D D 39. Did you seek input or not about possible steps Government programs D D to address your payment difficulties with any of the following? Housing/credit counseling D D Debt consolidation D D Yes No Borrowing money D D Mortgage lender/servicer D D Other (specify) Family D D D D Friends D D Housing/credit counselor D D 35. Did the lender/servicer offer you ... Lawyer D D Yes No Financial planner D D A program to modify the terms of your Banker D D mortgage to make it more affordable D D Other (specify) D D A way to sell the house to satisfy the mortgage D D 40. In the course of taking out or paying the A way to give the house to the lender mortgage you had in January 2015, did you to satisfy the mortgage D D ever talk to a counselor or take a course about 36. What action, if any, was taken to address the home buying or managing your finances? payment difficulties? Mark one answer. D No Skip to Q45 on page 5 D Refinanced with a special government program D Yes lt (e.g. HARP, FHA short refi) 41. What type of counseling or course did you D Other refinance participate in? D Kept loan and obtained mortgage assistance with a government program Before During After Did D Kept loan and eliminated second lien loans taking loan taking not out loan process out loan do with a government program Credit counseling D D D D D Modified the existing loan Home buying D Returned home to lender to cancel mortgage debt counseling D D D D (deed-in-lieu) Credit /financial D Sold home at reduced price agreed to by lender management course D D D D (short sale) D Sold home- regular sale Home buying course D D D D D Home was taken in foreclosure D Other (specify) _ _ _ _ _ _ __ 42. If you participated, how was the course or D No action taken counseling provided? 37. Were any of the following a challenge to you in One-on-one Group On the taking steps in response to payment difficulties? in person session phone Online Yes No Credit counseling D D D D I didn't know how or where to apply Home buying for programs D D counseling D D D D I thought the application process for Credit /financial programs was too much trouble D D management course D D D D Home buying asabaliauskas on DSK3SPTVN1PROD with NOTICES Tdidn't think Tcould qualify for any program D D I was turned down for the programs course D D D D I applied to D D Other problem (specify) D D EN24MR16.005</GPH> VerDate Sep<11>2014 17:44 Mar 23, 2016 Jkt 238001 PO 00000 Frm 00037 Fmt 4703 Sfmt 4725 E:\FR\FM\24MRN1.SGM 24MRN1

15714 Federal Register / Vol. 81, No. 57 / Thursday, March 24, 2016 / Notices 43. In total, how many hours did you spend in 50. What was the outcome resulting from your counseling or working through the courses? considering to refinance? D Less than 3 hours D Applied for a loan, but withdrew the D 3-6 hours application D Applied for a loan, it was accepted, but I D 7-12 hours D More than 12 hours decided not to refinance 44. Overall, how helpful was the counseling or D Applied for a loan, but was denied courses? D Did not apply for a refinance D Very D Somewhat D Not at all 51. Was each ofthe following a reason or not a reason you did not refinance this loan? 45. Do you still have this mortgage today (answer Yes No no ifyou refinanced modified or paid off the loan, New loans available were not better sold or otherwise gave up the property)? than what I already had D D New loan not worth the cost or hassle D No Skip to Q52 to refinance D D D Yes1 Home value/appraisal too low to qualify for a good refinance D D 46. Is the amount you owe on this mortgage Low credit score or other credit issues D D today ... Too much other debt D D D Significantly less than your property value Insufficient income to qualify D D D Slightly less than your property value Could not document income D D Did not think 1 would qualify for a D About the same as your property value good refinance D D D Slightly more than your property value Incomplete mortgage application D D D Significantly more than your property value Other (specify) D D 47. How likely is it that in the next couple of years Now please skip to Q64 you will ... Nut Very Somewhat At All Sell this property D D D 52. (If you said No to Q45) You indicated you no Move but keep this property D D D longer have this mortgage, when did this Refinance the mortgage on happen? this property D D D Pay off this mortgage and own ___/ property mortgage-free D D D month year Lose the property because you cannot afford the payment D D D 53. What happened to this mortgage and/or property? 48. At any time in the last few years, did you D I paid off the loan and kept the consider refinancing the loan you had in property January 2015? D I sold the property D No Skip to Q64 on page 6 D The property was taken as part Skip to Q56 D Yes of foreclosure (couldn't make onpage6 payments) 49. In considering refinancing, did you ask for D I decided to walk away and let a quote from a lender or broker? the lender have the property DYes D I refinanced or modified the loan 1 asabaliauskas on DSK3SPTVN1PROD with NOTICES D No 54. Did you refinance or modify this loan ... D With the same lender you used for the mortgage you had on January 1, 2015 EN24MR16.006</GPH> VerDate Sep<11>2014 17:44 Mar 23, 2016 Jkt 238001 PO 00000 Frm 00038 Fmt 4703 Sfmt 4725 E:\FR\FM\24MRN1.SGM 24MRN1

Federal Register / Vol. 81, No. 57 / Thursday, March 24, 2016 / Notices 15715 D With a new lender/broker D No 55. How did the terms of the new loan compare to 61. Do you currently own or rent your primary the loan you had on Jan 1, 2015? residence? Higher Same Lower D Own Skip to Q64 Interest rate D D D D Rent Principal balance D D D D Live with family and Monthly payments D D D help with expenses D Live rent free with 56. Were any of the following a reason or not a family or friends reason you no longer have the mortgage you had in January 2015? 62. When do you think you might purchase Yes No another primary residence? Needed to reduce my total debt D D Needed to reduce monthly expenses D D D Within 1-2 years Found a lower interest rate D D D Within 3-5 years Divorce or separation D D D Not for at least 5 years Death of a household member D D D Never Illness or disability D D 63. Would any of the following events cause Kept property as a rental D D you to consider or not consider buying Wanted to rent rather than own a home D D sooner or at all? House maintenance too difficult or costly D D Yes No Wanted a different house D D Increase in income/more hours at work D D Moved to be closer to family D D Improved credit score D D Owed more on the loan than the property Improved health D D was worth or could sell it for D D Paying off other debts first D D Other (specify) D D Saving more for a down payment D D Decrease in interest rate D D 57. Did you get advice or information from any of Decrease in required credit score D D the following for this loan transaction? Other (specify) _ _ _ _ __ D D Yes No D Nothing, will not buy again A credit counselor D D A home ownership counselor D D Family /friends D D h Other professi ona Is - attorney, 64. What is your current marital status? tax advisor, etc. D D The internet D D D Married Skip to Q66 on page 7 58. Considering the circumstances around this last D Separated D Never married loan transaction, would you say the decision D Divorced was ... D Widowed D Your or your family's decision D Action taken by someone else (lender/servicer) 65. Do you have a partner who shares the decision-making and responsibilities of 59. Did you purchase or co-sign for any other running your household but is not your property around the time of this loan legal spouse? transaction? DYes D No D No Skip to Q61 D Yes lt asabaliauskas on DSK3SPTVN1PROD with NOTICES 60. Do you use this new property as your primary residence? D Yes Skip to Q64 EN24MR16.007</GPH> VerDate Sep<11>2014 17:44 Mar 23, 2016 Jkt 238001 PO 00000 Frm 00039 Fmt 4703 Sfmt 4725 E:\FR\FM\24MRN1.SGM 24MRN1

15716 Federal Register / Vol. 81, No. 57 / Thursday, March 24, 2016 / Notices Please answer the following questions for you and 72. Have you ever served on active duty in the U.S. your spouse or partner, if applicable. Armed Forces? Active duty includes serving in Spouse/ the US. Armed Forces as well as activation from You Partner the Reserves or National Guard. 66. Age at last birthday: Spouse/ __ years __ years You Partner Yes, now on active duty D D 67. Sex: Yes, on active duty in the past, Spouse/ butnotnow D D You Partner Male D D No, never on active duty except Female D D for initial/basic training D D No, never served in the U.S. 68. Highest level of education achieved: Armed Forces D D Spouse/ You Partner 73. Besides you (and your spouse/partner), who Some schooling D D else lives in your household? Mark all that apply. High school graduate D D D Children/grandchildren under age 18 Technical school D D D Children/grandchildren age 18-22 Some college D D D Children/grandchildren age 23 or older College graduate D D D Parents of you or your spouse or partner Postgraduate studies D D D Other relatives like siblings or cousins 69. Hispanic or Latino: D Non-relatives Spouse/ You Partner D No one else Yes D D No D D 74. Approximately how much is your total annual household income from all sources (wages, 70. Race: Mark all that apply. salaries, tips, interest, child support, investment Spouse/ income, retirement, social security, and alimony)? You Partner White D D D Under $35,000 Black or African American D D D $35,000 to $49,999 American Indian or Alaska Native D D D $50,000 to $74,999 Asian D D D $75,000 to $99,999 Native Hawaiian or Pacific Islander D D D $100,000 to $174,999 D $175,000 or more 71. Current work status: Mark all that apply. Spouse/ 75. How does this total annual household income You Partner compare to what it is in a "normal" year? Self-employed/work for self D D Employed full time D D D Higher than normal Employed part time D D D Normal Retired D D D Lower than normal Temporarily laid-off or on leave D D Not working for pay (student, 76. Does your total annual household income homemaker, disabled, unemployed) D D include any of the following sources? Yes No Wages or salary D D Business or self-employment D D asabaliauskas on DSK3SPTVN1PROD with NOTICES Interest or dividends D D Alimony or child support D D Social Security benefits D D EN24MR16.008</GPH> VerDate Sep<11>2014 17:44 Mar 23, 2016 Jkt 238001 PO 00000 Frm 00040 Fmt 4703 Sfmt 4725 E:\FR\FM\24MRN1.SGM 24MRN1

Federal Register / Vol. 81, No. 57 / Thursday, March 24, 2016 / Notices 15717 77. Which one of the following best describes how 81. Do you agree or disagree with the following your household's income changes from month statements? to month, if at all? Agree Disagree D Roughly the same amount each month Owning a home is a good financial investment D D D Roughly the same most months, but some Most mortgage lenders generally treat unusually high or low months during the year borrowers well D D D Often varies quite a bit from one month to the next Most mortgage lenders would offer me roughly the same rates and fees D D 78. Does anyone in your household have any of the following? Late payments will lower my Yes No credit rating D D 40l(k), 403(b), IRA, or pension plan D D Lenders shouldn't care about any late Stocks, bonds, or mutual funds (not in payments only whether loans are fully repaid D D retirement accounts or pension plans) D D It is okay to default or stop making Certificates of deposit D D mortgage payments if it is in the Investment real estate D D borrower's financial interest D D 79. Which one of the following statements best 82. Do you know anyone who ... describes the amount of financial risk you are willing to take when you make investments? Yes No Is behind in making their mortgage D Take substantial risks expecting to earn substantial payments D D returns Has gone through foreclosure where D Take above-average risks expecting to earn above- the lender took over the property D D average returns Stopped making monthly mortgage D Take average risks expecting to earn average returns payments, even if they could afford it, D Not willing to take any financial risks because they owed more than the property was worth D D 80. How well could you explain to someone the ... 83. Do you currently provide caregiving support to Not any family members or friends living within a Very Somewhat At All few hours' drive from you? Process of taking out a mortgage D D D Difference between a fixed- and DYes an adjustable-rate mortgage D D D D No Difference between a prime and a subprime loan D D D 84. Do you have any adult children living within a Difference between a mortgage's few hours' drive from you? interest rate and its APR D D D Amortization of a loan D D D DYes Consequences of not making D No required mortgage payments D D D Difference between lender's and 84. owner's title insurance D D D asabaliauskas on DSK3SPTVN1PROD with NOTICES EN24MR16.009</GPH> VerDate Sep<11>2014 17:44 Mar 23, 2016 Jkt 238001 PO 00000 Frm 00041 Fmt 4703 Sfmt 4725 E:\FR\FM\24MRN1.SGM 24MRN1

15718 Federal Register / Vol. 81, No. 57 / Thursday, March 24, 2016 / Notices 85. In the last couple of years, have any of the following happened to you? 88. In the next couple of years, how do you expect Yes No the following to change for you (and your Separated/divorced D D spouse/partner)? Married/remarried/new partner D D Significant Little/No Significant Increase Change Decrease Death of household member D D Household income D D D Addition to your household Housing expenses D D D (not including spouse/partner) D D Non-housing expenses D D D Person leaving your household (not including spouse/partner) D D 89. How likely is it in the next couple of years you Disability or serious illness of a (or your spouse/partner) will face ... household member D D Not Disaster affecting a property you own D D Very Somewhat At All Disaster affecting your (or your Retirement D D D spouse/partner's) work D D Difficulty making your Move within the area (less than 50 miles) D D mortgage payments D D D Moved to a new area (more than 50 miles) D D A layoff, unemployment, or forced reduction in hours D D D 86. In the last couple of years, have any of the Some other personal financial following happened to you (or your crisis D D D spouse/partner)? 90. If your household faced an unexpected personal Yes No financial crisis in the next couple of years, how Layoff, unemployment or reduced hours D D likely is it you could ... Retirement D D Not Promotion D D Very Somewhat At All Started a new job D D Pay your bills for the next 3 Started a second job D D months without borrowing D D D Business failure D D Get significant financial help A personal financial crisis D D from family or friends D D D Borrowed money from family or friend D D Borrow enough money from a bank or credit union D D D Borrowed money from bank, credit union or other financial institution D D Significantly increase your income D D D Significant decrease in the value of your home D D A large number of foreclosures or short sales in your neighborhood D D 87. In the last couple of years, how have the following changed for you (and your spouse/partner)? Significant Little/No Significant Increase Change Decrease Household income D D D Housing expenses D D D Non-housing expenses D D D [FR Doc. 2016–06590 Filed 3–23–16; 8:45 am] FEDERAL MARITIME COMMISSION SUMMARY: The Federal Maritime asabaliauskas on DSK3SPTVN1PROD with NOTICES BILLING CODE 8070–01–P Commission (Commission) is giving Agency Information Collection public notice that the agency has Activites; New Information Collection submitted to the Office of Management Request and Budget (OMB) for approval the new information collection described in this AGENCY: Federal Maritime Commission. notice. The public is invited to ACTION: Notice. comment on the proposed information EN24MR16.010</GPH> VerDate Sep<11>2014 17:44 Mar 23, 2016 Jkt 238001 PO 00000 Frm 00042 Fmt 4703 Sfmt 4703 E:\FR\FM\24MRN1.SGM 24MRN1


Document Created: 2016-03-24 00:57:57
Document Modified: 2016-03-24 00:57:57
CategoryRegulatory Information
CollectionFederal Register
sudoc ClassAE 2.7:
GS 4.107:
AE 2.106:
PublisherOffice of the Federal Register, National Archives and Records Administration
SectionNotices
Action30-day Notice of Submission of Information Collection for Approval from Office of Management and Budget.
DatesInterested persons may submit comments on or before April 25, 2016.
ContactForrest Pafenberg, Supervisory Policy Analyst, Office of the Chief Operating Officer, by email at [email protected] or by telephone at (202) 649-3129; or Eric Raudenbush, Assistant General Counsel, by email at [email protected] or by telephone at (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 Deaf is (800) 877-8339.
FR Citation81 FR 15707 
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