81_FR_65830 81 FR 65645 - Proposed Collection; Comment Request

81 FR 65645 - Proposed Collection; Comment Request

FEDERAL HOUSING FINANCE AGENCY

Federal Register Volume 81, Issue 185 (September 23, 2016)

Page Range65645-65648
FR Document2016-22930

In accordance with the requirements of the Paperwork Reduction Act of 1995, the Federal Housing Finance Agency (FHFA) is seeking public comments concerning an expired information collection known as ``Community Support Requirements,'' which was assigned control number 2590-0005 by the Office of Management and Budget (OMB). FHFA intends to submit the information collection to OMB for review and approval of a reinstatement of the control number, which expired on February 29, 2016, for a period of three years.

Federal Register, Volume 81 Issue 185 (Friday, September 23, 2016) 
[Federal Register Volume 81, Number 185 (Friday, September 23, 2016)]
[Notices]
[Pages 65645-65648]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2016-22930]


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FEDERAL HOUSING FINANCE AGENCY

[No. 2016-N-08]


Proposed Collection; Comment Request

AGENCY: Federal Housing Finance Agency.

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

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SUMMARY: In accordance with the requirements of the Paperwork Reduction 
Act of 1995, the Federal Housing Finance Agency (FHFA) is seeking 
public comments concerning an expired information collection known as 
``Community Support Requirements,'' which was assigned control number 
2590-0005 by the Office of Management and Budget (OMB). FHFA intends to 
submit the information collection to OMB for review and approval of a 
reinstatement of the control number, which expired on February 29, 
2016, for a period of three years.

DATES: Interested persons may submit comments on or before November 22, 
2016.

ADDRESSES: Submit comments to FHFA, identified by ``Proposed 
Collection; Comment Request: `Community Support Requirements, (No. 
2016-N-08)' '' 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: ``Community Support Requirements, 
(No. 2016-N-08)''.
    We will post all public comments we receive without change, 
including any personal information you provide, such as your name and 
address, email address, and telephone number, on the FHFA Web site at 
http://www.fhfa.gov. In addition, copies of all comments received will 
be available for examination by the public on business days between the 
hours of 10 a.m. and 3 p.m., at the Federal Housing Finance Agency, 
Eighth Floor, 400 Seventh Street SW., Washington, DC 20219. To make an 
appointment to inspect comments, please call the Office of General 
Counsel at (202) 649-3804.

FOR FURTHER INFORMATION CONTACT: Deattra D. Perkins, Senior Policy 
Analyst, Division of Housing Mission & Goals, [email protected], 
(202) 649-3133; or Sylvia C. Martinez, Manager, Federal Home Loan Bank 
Housing and Community Investment Programs, Division of Housing Mission 
& Goals, [email protected], (202) 649-3301 (these are not toll-
free numbers); Federal Housing Finance Agency, 400 Seventh Street SW., 
Washington, DC 20219. The Telecommunications Device for the Hearing 
Impaired is (800) 877-8339.

SUPPLEMENTARY INFORMATION: 

A. Background

    Section 10(g)(1) of the Federal Home Loan Bank Act (Bank Act) 
requires the Director of FHFA to promulgate regulations establishing 
standards of community investment or service that Federal Home Loan 
Bank (Bank) member institutions must meet in order to maintain access 
to long-term Bank advances. Section 10(g)(2) of the Bank Act requires 
that, in establishing these community support requirements for Bank 
members, FHFA take into account factors such as the member's 
performance under the Community Reinvestment Act of 1977 (CRA) and 
record of lending to first-time homebuyers.\1\ FHFA's community support 
regulation, which establishes standards and review criteria for 
determining compliance with section 10(g) of the Bank Act, is set forth 
at 12 CFR part 1290.
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    \1\ 12 U.S.C. 1430(g)(1), (2).
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    Part 1290 requires that each Bank member submit to FHFA biennially 
a completed Community Support Statement (Form 060), which contains 
several short questions the answers to which are used by FHFA to assess 
the responding member's compliance with the community support 
standards. Previously, this was accomplished by requiring approximately 
one-eighth of all members to submit a completed Form in each calendar 
quarter of a two-year review cycle. Under new streamlined procedures 
that FHFA is in the process of implementing, all members subject to 
community support review will be required to submit a completed Form 
060 at approximately the same time every two years.
    FHFA has revised Form 060 to reflect the new streamlined 
procedures. These revisions reduce slightly the number of questions on 
the Form and modify the formatting so that members will be able to 
complete and submit the Form online. In substance, the revised Form 060 
is materially the same as the existing Form. In part I of the Form, a 
member that is subject to the CRA must record its most recent CRA 
rating and the year of that rating. Part II of the Form addresses a 
member's efforts to assist first-time homebuyers. A member may either 
record the number and dollar amount of mortgage loans made to first-
time homebuyers in the previous or current calendar year (part II.A), 
or indicate the types of programs or activities it has undertaken to 
assist first-time homebuyers by checking selections from a list (part 
II.B), or do both. If a member has received a CRA rating of 
``Outstanding,'' it need not complete part II of the Form. A copy of 
the revised Form and related instructions appear at the end of this 
Notice.
    Part 1290 also establishes the circumstances under which FHFA will 
restrict a member's access to long-term Bank advances for failure to 
meet the community support requirements. It permits Bank members whose 
access to long-term advances has been restricted to apply directly to 
FHFA to remove the restriction if certain criteria are met.
    The OMB control number for the information collection contained in 
Form 060 and part 1290 is 2590-0005. The OMB clearance for this control 
number expired on February 29, 2016. The respondents are institutions 
that are Bank members.

[[Page 65646]]

B. Need for and Use of the Information Collection

    This information collection is necessary to enable FHFA to 
determine whether Bank members satisfy the statutory and regulatory 
community support requirements and to ensure that, as required by 
statute, only Bank members that meet those requirements maintain 
continued access to long-term Bank advances.\2\
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    \2\ See 12 U.S.C. 1430(g)(1).
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C. Burden Estimate

    FHFA has analyzed the two facets of this information collection in 
order to estimate the hour burdens that the collection will impose upon 
Bank members annually over the next three years. Based on that 
analysis, FHFA estimates that the total annual hour burden will be 
2,287 hours. The method FHFA used to determine the annual hour burden 
and associated cost for each facet of the information collection is 
explained in detail below.

I. Community Support Statements

    FHFA estimates that, on average over the next several years, 7,000 
Bank members will be required to submit completed Community Support 
Statements biennially. This corresponds to an annual average of 3,500 
respondents. FHFA estimates that the average preparation time for each 
Community Support Statement will be 0.65 hours. The estimate for the 
total annual hour burden on members in connection with the preparation 
and submission of Community Support Statements is 2,275 hours (3,500 
Statements x 0.65 hours).

II. Requests To Remove a Restriction on Access to Long-Term Advances

    FHFA estimates that an annual average of 16 Bank members whose 
access to long-term advances has been restricted will submit requests 
to FHFA to remove those restrictions, and that the average preparation 
time for each request will be 0.75 hours. The estimate for the total 
annual hour burden on members in connection with the preparation and 
submission of requests to remove a restriction on access to long-term 
advances is 12 hours (16 requests x 0.75 hours).

D. Public Comments Request

    FHFA requests written comments on the following: (1) Whether the 
collection of information is necessary for the proper performance of 
FHFA functions, including whether the information has practical 
utility; (2) the accuracy of the FHFA estimates of the burdens of the 
collection of information; (3) ways to enhance the quality, utility, 
and clarity of the information collected; and (4) ways to minimize the 
burden of the collection of information on respondents, including 
through the use of automated collection techniques or other forms of 
information technology.

    Dated: September 20, 2016.
Kevin Winkler,
Chief Information Officer, Federal Housing Finance Agency.
BILLING CODE 8070-01-P

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[FR Doc. 2016-22930 Filed 9-22-16; 8:45 am]
 BILLING CODE 8070-01-C

Federal Register / Vol. 81, No. 185 / Friday, September 23, 2016 / Notices 65645 concurred in by Director Thomas J. you submit your comment to the 10(g) of the Bank Act, is set forth at 12 Curry (Comptroller of the Currency) and Federal eRulemaking Portal, please also CFR part 1290. Chairman Martin J. Gruenberg, that send it by email to FHFA at Part 1290 requires that each Bank Corporation business required its RegComments@fhfa.gov to ensure member submit to FHFA biennially a consideration of the matters which were timely receipt by the agency. completed Community Support to be the subject of this meeting on less • Mail/Hand Delivery: Federal Statement (Form 060), which contains than seven days’ notice to the public; Housing Finance Agency, Eighth Floor, several short questions the answers to that no earlier notice of the meeting was 400 Seventh Street SW., Washington, practicable; that the public interest did DC 20219, ATTENTION: Proposed which are used by FHFA to assess the not require consideration of the matters Collection; Comment Request: responding member’s compliance with in a meeting open to public observation; ‘‘Community Support Requirements, the community support standards. and that the matters could be (No. 2016–N–08)’’. Previously, this was accomplished by considered in a closed meeting by We will post all public comments we requiring approximately one-eighth of authority of subsections (c)(4), (c)(6), receive without change, including any all members to submit a completed (c)(8), (c)(9)(A)(ii), (c)(9)(B), and (c)(10) personal information you provide, such Form in each calendar quarter of a two- of the ‘‘Government in the Sunshine as your name and address, email year review cycle. Under new Act’’ (5 U.S.C. 552b(c)(4), (c)(6), (c)(8), address, and telephone number, on the streamlined procedures that FHFA is in (c)(9)(A)(ii), (c)(9)(B), and (c)(10). FHFA Web site at http://www.fhfa.gov. the process of implementing, all Dated: September 20, 2016. In addition, copies of all comments members subject to community support received will be available for review will be required to submit a Federal Deposit Insurance Corporation. examination by the public on business completed Form 060 at approximately Robert E. Feldman, days between the hours of 10 a.m. and the same time every two years. Executive Secretary. 3 p.m., at the Federal Housing Finance [FR Doc. 2016–23050 Filed 9–21–16; 11:15 am] FHFA has revised Form 060 to reflect Agency, Eighth Floor, 400 Seventh the new streamlined procedures. These BILLING CODE P Street SW., Washington, DC 20219. To revisions reduce slightly the number of make an appointment to inspect questions on the Form and modify the comments, please call the Office of formatting so that members will be able FEDERAL HOUSING FINANCE General Counsel at (202) 649–3804. AGENCY to complete and submit the Form FOR FURTHER INFORMATION CONTACT: online. In substance, the revised Form [No. 2016–N–08] Deattra D. Perkins, Senior Policy 060 is materially the same as the Analyst, Division of Housing Mission & existing Form. In part I of the Form, a Proposed Collection; Comment Goals, Deattra.Perkins@fhfa.gov, (202) member that is subject to the CRA must Request 649–3133; or Sylvia C. Martinez, record its most recent CRA rating and Manager, Federal Home Loan Bank the year of that rating. Part II of the AGENCY: Federal Housing Finance Housing and Community Investment Agency. Form addresses a member’s efforts to Programs, Division of Housing Mission ACTION: 60-day notice of submission of assist first-time homebuyers. A member & Goals, Sylvia.Martinez@fhfa.gov, (202) information collection for approval from may either record the number and dollar 649–3301 (these are not toll-free Office of Management and Budget. numbers); Federal Housing Finance amount of mortgage loans made to first- Agency, 400 Seventh Street SW., time homebuyers in the previous or SUMMARY: In accordance with the current calendar year (part II.A), or requirements of the Paperwork Washington, DC 20219. The Telecommunications Device for the indicate the types of programs or Reduction Act of 1995, the Federal activities it has undertaken to assist Housing Finance Agency (FHFA) is Hearing Impaired is (800) 877–8339. first-time homebuyers by checking seeking public comments concerning an SUPPLEMENTARY INFORMATION: selections from a list (part II.B), or do expired information collection known A. Background both. If a member has received a CRA as ‘‘Community Support Requirements,’’ rating of ‘‘Outstanding,’’ it need not which was assigned control number Section 10(g)(1) of the Federal Home Loan Bank Act (Bank Act) requires the complete part II of the Form. A copy of 2590–0005 by the Office of Management the revised Form and related and Budget (OMB). FHFA intends to Director of FHFA to promulgate regulations establishing standards of instructions appear at the end of this submit the information collection to community investment or service that Notice. OMB for review and approval of a reinstatement of the control number, Federal Home Loan Bank (Bank) Part 1290 also establishes the which expired on February 29, 2016, for member institutions must meet in order circumstances under which FHFA will a period of three years. to maintain access to long-term Bank restrict a member’s access to long-term advances. Section 10(g)(2) of the Bank Bank advances for failure to meet the DATES: Interested persons may submit Act requires that, in establishing these community support requirements. It comments on or before November 22, community support requirements for permits Bank members whose access to 2016. Bank members, FHFA take into account long-term advances has been restricted ADDRESSES: Submit comments to FHFA, factors such as the member’s to apply directly to FHFA to remove the identified by ‘‘Proposed Collection; performance under the Community restriction if certain criteria are met. Comment Request: ‘Community Support sradovich on DSK3GMQ082PROD with NOTICES Reinvestment Act of 1977 (CRA) and Requirements, (No. 2016–N–08)’ ’’ by record of lending to first-time The OMB control number for the any of the following methods: homebuyers.1 FHFA’s community information collection contained in • Agency Web site: www.fhfa.gov/ support regulation, which establishes Form 060 and part 1290 is 2590–0005. open-for-comment-or-input. standards and review criteria for The OMB clearance for this control • Federal eRulemaking Portal: http:// determining compliance with section number expired on February 29, 2016. www.regulations.gov. Follow the The respondents are institutions that are instructions for submitting comments. If 1 12 U.S.C. 1430(g)(1), (2). Bank members. VerDate Sep<11>2014 18:22 Sep 22, 2016 Jkt 238001 PO 00000 Frm 00024 Fmt 4703 Sfmt 4703 E:\FR\FM\23SEN1.SGM 23SEN1

65646 Federal Register / Vol. 81, No. 185 / Friday, September 23, 2016 / Notices B. Need for and Use of the Information I. Community Support Statements members in connection with the Collection preparation and submission of requests FHFA estimates that, on average over to remove a restriction on access to This information collection is the next several years, 7,000 Bank long-term advances is 12 hours (16 necessary to enable FHFA to determine members will be required to submit requests × 0.75 hours). whether Bank members satisfy the completed Community Support statutory and regulatory community Statements biennially. This corresponds D. Public Comments Request support requirements and to ensure to an annual average of 3,500 FHFA requests written comments on that, as required by statute, only Bank respondents. FHFA estimates that the the following: (1) Whether the collection members that meet those requirements average preparation time for each of information is necessary for the maintain continued access to long-term Community Support Statement will be proper performance of FHFA functions, Bank advances.2 0.65 hours. The estimate for the total including whether the information has annual hour burden on members in practical utility; (2) the accuracy of the C. Burden Estimate connection with the preparation and FHFA estimates of the burdens of the FHFA has analyzed the two facets of submission of Community Support collection of information; (3) ways to this information collection in order to Statements is 2,275 hours (3,500 enhance the quality, utility, and clarity estimate the hour burdens that the Statements × 0.65 hours). of the information collected; and (4) collection will impose upon Bank II. Requests To Remove a Restriction on ways to minimize the burden of the members annually over the next three Access to Long-Term Advances collection of information on years. Based on that analysis, FHFA respondents, including through the use estimates that the total annual hour FHFA estimates that an annual of automated collection techniques or burden will be 2,287 hours. The method average of 16 Bank members whose other forms of information technology. FHFA used to determine the annual access to long-term advances has been hour burden and associated cost for restricted will submit requests to FHFA Dated: September 20, 2016. each facet of the information collection to remove those restrictions, and that Kevin Winkler, is explained in detail below. the average preparation time for each Chief Information Officer, Federal Housing request will be 0.75 hours. The estimate Finance Agency. 2 See 12 U.S.C. 1430(g)(1). for the total annual hour burden on BILLING CODE 8070–01–P sradovich on DSK3GMQ082PROD with NOTICES VerDate Sep<11>2014 18:22 Sep 22, 2016 Jkt 238001 PO 00000 Frm 00025 Fmt 4703 Sfmt 4703 E:\FR\FM\23SEN1.SGM 23SEN1

Federal Register/Vol. 81, No. 185 /Friday, September 23, 2016 /Notices 65647 RHEA fark # 060 FEDERAL HOUSING FINANCE AGENCY tdatet COMMUNITY SUPPORT STATEMENT {see instructionspage 2) FHFA ID Number: Name of Institution:_{ooline form: FHFA sutomatically flls in sree the member enters its FHFA ID Number Address: Topline form: FHFA flls in] City: Jooline {orm: ENEA flls in State: Jonline form: £HFA fills in[tip Code: {oni Submitter: Title: Work Email {not on the goper form: online form only; used for online velidation purposes oniy] Part 1. Community Reinvestment Act {CRA) Standard, Most recent federal CRA rating:down Year of most recent federal CRA rating: down Part II, First—time Homebuyer Standard: All Federal Home Loon Bank members must complete either Section A or B of this part, except that members with "Outstanding" federal CRA ratings need not complete this part. Members should use data or activities for the previous or current colendar year in completing this part. A. Complete the following two questians: /f your institution did not make, or did not track, mortgage loans to first—time homebuyers, you must complete Section B of this part. 1, Number of mortgage loans made to first—time homebuyers # 2. Dollar amount of mortgage loans made to first—time homebuyers 4 B, Check as many as applicable; 1. Offer in—house first—time homebuyer program (e.g., underwriting, marketing plans, outreach programs} 2. Offer other in—house lending products that serve first—time or low— and moderate—income homebuyers 3. Offer flexible underwriting standards for first—time homebuyers 4. Participate in nationwide first—time homebuyer programs {e.g., Fannie Mae, Freddie Mac} 5. Participate in federal government programs that serve first—time homebuyers (e.g., FHA, VA, USDA RD) 6. Participate in state or local government programs targeted to first—time homebuyers (e.g., mortgage revenue bond financing} 7. Provide financial support or technical assistance to community organizations that assist first—time homebuyers 8. Participate in loan consortia that make loans to first—time hamebuyers 9. Participate in or support special counseling or homeownership education targeted to first—time homebuyers 10. Hold investments or make loans that support first—time homebuyer programs 11. Hold mortgage—backed securities that may include a pool of loans to low— and moderate—income homebuyers 12. Use affiliated lenders, credit union service organizations, or other correspondent, brokerage or referral arrangements with specific unaffiliated lenders, that provide mortgage loans to first—time or low— and moderate— income homebuyers 13. Participate in the Affordable Housing Program or other targeted community Investment/development programs offered by the Federal Home Loan Bank 14. Other (attach description of other activities supporting first—time homebuyers; see instructions for Part it) 15. None of the above {attach explanation of any mitigating factors; see instructions for Part 1!} Part IHI. Certification: By submitting this Community Support Statement, I certify that | am an official of the above institution, that I am authorized to provide this information to FHFA, and that the information in this Statement and any attachments is accurate to the best of my knowledge. Signed Inot on the online form: "Submit" button is equtyclent} Date {not on the online form: dote is automaticl #6(0............. LHFA MB Number 25900008 Expires{date} Page1.0L 2

65648 Federal Register / Vol. 81, No. 185 / Friday, September 23, 2016 / Notices [FR Doc. 2016–22930 Filed 9–22–16; 8:45 am] SUMMARY: In accordance with the ADDRESSES: Submit comments to FHFA, BILLING CODE 8070–01–C requirements of the Paperwork identified by ‘‘Proposed Collection; Reduction Act of 1995, the Federal Comment Request: ‘Affordable Housing Housing Finance Agency (FHFA) is Program, (No. 2016–N–07)’’’ by any of FEDERAL HOUSING FINANCE seeking public comments concerning the following methods: AGENCY the information collection known as the • Agency Web site: www.fhfa.gov/ ‘‘Affordable Housing Program,’’ which open-for-comment-or-input. [No. 2016–N–07] has been assigned control number 2590– • Federal eRulemaking Portal: http:// 0007 by the Office of Management and www.regulations.gov. Follow the Proposed Collection; Comment Budget (OMB). FHFA intends to submit instructions for submitting comments. If sradovich on DSK3GMQ082PROD with NOTICES Request the information collection to OMB for you submit your comment to the review and approval of a three-year Federal eRulemaking Portal, please also AGENCY: Federal Housing Finance extension of the control number, which Agency. send it by email to FHFA at is due to expire on November 30, 2016. RegComments@fhfa.gov to ensure ACTION: 60-day notice of submission of timely receipt by the agency. DATES:Interested persons may submit information collection for approval from comments on or before November 22, • Mail/Hand Delivery: Federal Office of Management and Budget. EN23SE16.002</GPH> 2016. Housing Finance Agency, Eighth Floor, VerDate Sep<11>2014 18:22 Sep 22, 2016 Jkt 238001 PO 00000 Frm 00027 Fmt 4703 Sfmt 4703 E:\FR\FM\23SEN1.SGM 23SEN1


Document Created: 2016-09-23 01:43:08
Document Modified: 2016-09-23 01:43:08
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
Action60-day notice of submission of information collection for approval from Office of Management and Budget.
DatesInterested persons may submit comments on or before November 22, 2016.
ContactDeattra D. Perkins, Senior Policy Analyst, Division of Housing Mission & Goals, [email protected], (202) 649-3133; or Sylvia C. Martinez, Manager, Federal Home Loan Bank Housing and Community Investment Programs, Division of Housing Mission & Goals, [email protected], (202) 649-3301 (these are not toll- free numbers); Federal Housing Finance Agency, 400 Seventh Street SW., Washington, DC 20219. The Telecommunications Device for the Hearing Impaired is (800) 877-8339.
FR Citation81 FR 65645 
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