Federal Register / Vol. 74, No. 178 / Wednesday, September 16, 2009 / Rules and Regulations 47439 

a guarantee on, or other form of credit 

enhancement for, a recourse or 

nonrecourse obligation, so long as the 

obligation continues to be principally 

secured by an interest in real property 

following the release, substitution, 

addition, or other alteration as 

determined by paragraph (b)(7) of this 

section; and 

(vi) A change in the nature of the 

obligation from recourse (or 

substantially all recourse) to 

nonrecourse (or substantially all 

nonrecourse), or from nonrecourse (or 

substantially all nonrecourse) to 

recourse (or substantially all recourse), 

so long as the obligation continues to be 

principally secured by an interest in real 

property following such a change as 

determined by paragraph (b)(7) of this 

section. 

* * * * * 

(7) Test for determining whether an 

obligation continues to be principally 

secured following certain types of 

modifications. (i) For purposes of 

paragraphs (a)(8)(i), (b)(3)(v), and 

(b)(3)(vi) of this section, the obligation 

continues to be principally secured by 

an interest in real property following the 

modification only if, as of the date of the 

modification, the obligation satisfies 

either paragraph (b)(7)(ii) or paragraph 

(b)(7)(iii) of this section. 

(ii) The fair market value of the 

interest in real property securing the 

obligation, determined as of the date of 

the modification, must be at least 80 

percent of the adjusted issue price of the 

modified obligation, determined as of 

the date of the modification. If, as of the 

date of the modification, the servicer 

reasonably believes that the obligation 

satisfies the criterion in the preceding 

sentence, then the obligation is deemed 

to do so. A reasonable belief does not 

exist if the servicer actually knows, or 

has reason to know, that the criterion is 

not satisfied. For purposes of this 

paragraph (b)(7)(ii), a servicer must base 

a reasonable belief on— 

(A) A current appraisal performed by 

an independent appraiser; 

(B) An appraisal that was obtained in 

connection with the origination of the 

obligation and, if appropriate, that has 

been updated for the passage of time 

and for any other changes that might 

affect the value of the interest in real 

property; 

(C) The sales price of the interest in 

real property in the case of a 

substantially contemporary sale in 

which the buyer assumes the seller’s 

obligations under the mortgage; or 

(D) Some other commercially 

reasonable valuation method. 

(iii) If paragraph (b)(7)(ii) of this 

section is not satisfied, the fair market 

value of the interest in real property that 

secures the obligation immediately after 

the modification must equal or exceed 

the fair market value of the interest in 

real property that secured the obligation 

immediately before the modification. 

The criterion in the preceding sentence 

must be established by a current 

appraisal, an original (and updated) 

appraisal, or some other commercially 

reasonable valuation method; and the 

servicer must not actually know, or have 

reason to know, that the criterion in the 

preceding sentence is not satisfied. 

(iv) Example. The following example 

illustrates the rules of this paragraph 

(b)(7). 

Example. (i) S services mortgage loans that 

are held by R, a REMIC. Borrower B is the 

issuer of one of the mortgage loans held by 

R. The original amount of B’s mortgage loan 

was $100,000, and the loan was secured by 

real property X. At the time the loan was 

contributed to R, property X had a fair market 

value of $90,000. Sometime after the loan 

was contributed to R, B experienced financial 

difficulties such that it was reasonably 

foreseeable that B might default on the loan 

if the loan was not modified. Accordingly, S 

altered various terms of B’s loan to 

substantially reduce the risk of default. The 

alterations included the release of the lien on 

property X and the substitution of real 

property Y for property X as collateral for the 

loan. At the time the loan was modified, its 

adjusted issue price was $100,000. The fair 

market value of property X immediately 

before the modification (as determined by a 

commercially reasonable valuation method) 

was $70,000, and the fair market value of 

property Y immediately after the 

modification (as determined by a 

commercially reasonable valuation method) 

was $75,000. 

(ii) The alterations to B’s loan are a 

significant modification within the meaning 

of § 1.1001–3(e). The modification, however, 

is described in paragraphs (a)(8)(i) and (b)(3) 

of this section. Accordingly, the modified 

loan continues to be a qualified mortgage if, 

immediately after the modification, the 

modified loan continues to be principally 

secured by an interest in real property, as 

determined by paragraph (b)(7) of this 

section. 

(iii) Because the modification includes the 

release of the lien on property X and 

substitution of property Y for property X, the 

modified loan must satisfy paragraph (b)(7)(i) 

of this section (which requires satisfaction of 

either paragraph (b)(7)(ii) or paragraph 

(b)(7)(iii) of this section). The modified loan 

does not satisfy paragraph (b)(7)(ii) of this 

section because property Y is worth less than 

$80,000 (the amount equal to 80 percent of 

the adjusted issue price of the modified 

mortgage loan). The modified loan, however, 

satisfies paragraph (b)(7)(iii) of this section 

because the fair market value of the interest 

in real estate (real property Y) that secures 

the obligation immediately after the 

modification ($75,000) exceeds the fair 

market value of the interest in real estate (real 

property X) that secured the obligation 

immediately before the modification 

($70,000). Accordingly, the modified loan 

satisfies paragraph (b)(7)(i) of this section and 

continues to be principally secured by an 

interest in real property. 

* * * * * 

PART 602—OMB CONTROL NUMBERS 

UNDER THE PAPERWORK 

REDUCTION ACT 

■ Par. 5. The authority citation for part 

602 continues to read as follows: 

Authority: 26 U.S.C. 7805. 

■ Par. 6. Section 602.101, paragraph (b) 

is amended by adding the entry in 

numerical order to the table to read as 

follows: 

§ 602.101 OMB Control numbers. 

* * * * * 

(b) * * * 

CFR part or section where 

identified and described 

Current OMB 

control no. 

* * * * * 

1.860G–2 .............................. 1545–2110 

* * * * * 

Approved: September 9, 2009. 

Linda M. Kroening, 

Acting Deputy Commissioner for Services and 

Enforcement. 

Michael Mundaca, 

Acting Assistant Secretary of the Treasury 

(Tax Policy). 

[FR Doc. E9–22215 Filed 9–15–09; 8:45 am] 

BILLING CODE 4830–01–P 

NATIONAL ARCHIVES AND RECORDS 

ADMINISTRATION 

36 CFR Part 1253 

[Docket NARA–09–0002] 

RIN 3095–AB61 

NARA Facility Locations and Hours 

AGENCY: National Archives and Records 

Administration (NARA). 

ACTION: Final rule. 

SUMMARY: NARA is changing the hours 

open to the public for our Kansas City, 

Missouri, and New York City regional 

archives. The Kansas City regional 

archives relocated on March 17, 2009, to 

the Union Station Complex at 400 West 

Pershing Road, Kansas City, Missouri. 

NARA is shifting the hours open to the 

public at the New York City regional 

archives to better serve the public for 

the range of hours covering the majority 

of visits. This rule will affect the public. 


sroberts on DSKD5P82C1PROD with RULES
47440 Federal Register / Vol. 74, No. 178 / Wednesday, September 16, 2009 / Rules and Regulations 

DATES: Effective date: October 16, 2009. 

FOR FURTHER INFORMATION CONTACT: 

Marilyn Redman at 301–837–3174. 

SUPPLEMENTARY INFORMATION: The 

location of NARA’s Kansas City regional 

archives has changed. This document 

updates 36 CFR Part 1253 with the new 

location information. Also, NARA is 

changing the hours for our Kansas City 

location and existing New York City 

location. 

NARA published a proposed rule on 

June 12, 2009, in the Federal Register 

(74 FR 27956) for a 60 day public 

comment period. We notified several of 

our constituent groups by e-mail and 

provided a notice about the proposed 

rule on our Web site, http:// 

www.archives.gov. The public comment 

period closed on August 11, 2009; we 

received one public comment. The 

commenter remarked only about the 

change in hours and agreed that the 

change made sense if that would assist 

visitors. The commenter added that it 

would be helpful to have one night 

during the week or longer hours on 

Saturday for those who cannot visit 

during conventional business hours. 

The comment does not specify whether 

the concern relates to either, or to both, 

research locations. If a need for 

additional hours becomes evident in the 

future, and available resources support 

extending our hours, we will further 

explore the matter. As a result, we have 

made no changes in this final rule. 

This rule is not a significant 

regulatory action for the purposes of 

Executive Order 12866 and has not been 

reviewed by the Office of Management 

and Budget (OMB). As required by the 

Regulatory Flexibility Act, it is hereby 

certified that this rule will not have a 

significant impact on a substantial 

number of small entities because this 

rule applies to individual researchers. 

This rule does not have any federalism 

implications. This rule is not a major 

rule as defined in 5 U.S.C. Chapter 8, 

Congressional Review of Agency 

Rulemaking. 

List of Subjects in 36 CFR Part 1253 

Archives and records. 

■ For the reasons set forth in the 

preamble, NARA amends part 1253 of 

title 36, Code of Federal Regulations, as 

follows: 

PART 1253—LOCATIONS OF 

RECORDS AND HOURS OF USE 

■ 1. The authority citation for part 1253 

continues to read as follows: 

Authority: 44 U.S.C. 2104(a). 

■ 2. Amend § 1253.7 by revising 

paragraphs (c) and (g) as follows: 

§ 1253.7 Regional Archives. 

* * * * * 

(c) NARA—Northeast Region (New 

York City) is located at 201 Varick 

Street, 12th Floor, New York, NY 

10014–4811 (entrance on Houston 

Street, between Varick and Hudson). 

The hours are 9 a.m. to 5 p.m., Monday 

through Friday. The telephone number 

is 212–401–1620 or Toll Free 1–866– 

840–1752. 

* * * * * 

(g) NARA—Central Plains Region 

(Kansas City) is located at 400 West 

Pershing Road, Kansas City, MO 64108. 

The hours are 8 a.m. to 4 p.m., Tuesday 

through Saturday. The telephone 

number is 816–268–8000. 

* * * * * 

Dated: September 11, 2009. 

Adrienne C. Thomas, 

Acting Archivist of the United States. 

[FR Doc. E9–22403 Filed 9–15–09; 8:45 am] 

BILLING CODE 7515–01–P 

ENVIRONMENTAL PROTECTION 

AGENCY 

40 CFR Part 180 

[EPA–HQ–OPP–2008–0624; FRL–8431–1] 

Boscalid; Pesticide Tolerances 

AGENCY: Environmental Protection 

Agency (EPA). 

ACTION: Final rule. 

SUMMARY: This regulation establishes 

tolerances for residues of boscalid in or 

on coffee, green bean imported and 

amends the tolerance for banana, 

imported. BASF, Inc., requested these 

tolerances under the Federal Food, 

Drug, and Cosmetic Act (FFDCA). This 

regulation is also a removing tolerance 

for cucumber, and one tolerance for 

vegetable, root, subgroup 1A, except 

sugar beet, garden beet, radish, and 

turnip which are superceded with 

higher tolerances formerly published in 

the Federal Register of March 28, 2008 

(73 FR 16553) (FRL–8354–4). 

DATES: This regulation is effective 

September 16, 2009. Objections and 

requests for hearings must be received 

on or before November 16, 2009, and 

must be filed in accordance with the 

instructions provided in 40 CFR part 

178 (see also Unit I.C. of the 

SUPPLEMENTARY INFORMATION). 

ADDRESSES: EPA has established a 

docket for this action under docket 

identification (ID) number EPA–HQ– 

OPP–2008–0624. All documents in the 

docket are listed in the docket index 

available at http://www.regulations.gov. 

Although listed in the index, some 

information is not publicly available, 

e.g., Confidential Business Information 

(CBI) or other information whose 

disclosure is restricted by statute. 

Certain other material, such as 

copyrighted material, is not placed on 

the Internet and will be publicly 

available only in hard copy form. 

Publicly available docket materials are 

available in the electronic docket at 

http://www.regulations.gov, or, if only 

available in hard copy, at the OPP 

Regulatory Public Docket in Rm. S– 

4400, One Potomac Yard (South Bldg.), 

2777 S. Crystal Dr., Arlington, VA. The 

Docket Facility is open from 8:30 a.m. 

to 4 p.m., Monday through Friday, 

excluding legal holidays. The Docket 

Facility telephone number is (703) 305– 

5805. 

FOR FURTHER INFORMATION CONTACT: 

Bryant Crowe, Registration Division 

(7505P), Office of Pesticide Programs, 

Environmental Protection Agency, 1200 

Pennsylvania Ave., NW., Washington, 

DC 20460–0001; telephone number: 

(703) 305–0025; e-mail address: 

crowe.bryant@epa.gov. 

SUPPLEMENTARY INFORMATION: 

I. General Information 

A. Does this Action Apply to Me? 

You may be potentially affected by 

this action if you are an agricultural 

producer, food manufacturer, or 

pesticide manufacturer. Potentially 

affected entities may include, but are 

not limited to those engaged in the 

following activities: 

• Crop production (NAICS code 111). 

• Animal production (NAICS code 

112). 

• Food manufacturing (NAICS code 

311). 

• Pesticide manufacturing (NAICS 

code 32532). 

This listing is not intended to be 

exhaustive, but rather to provide a guide 

for readers regarding entities likely to be 

affected by this action. Other types of 

entities not listed in this unit could also 

be affected. The North American 

Industrial Classification System 

(NAICS) codes have been provided to 

assist you and others in determining 

whether this action might apply to 

certain entities. If you have any 

questions regarding the applicability of 

this action to a particular entity, consult 

the person listed under FOR FURTHER

INFORMATION CONTACT. 

B. How Can I Access Electronic Copies 

of this Document? 

In addition to accessing electronically 

available documents at http:// 

www.regulations.gov, you may access 


sroberts on DSKD5P82C1PROD with RULES