Federal Register / Vol. 75, No. 108 / Monday, June 7, 2010 / Proposed Rules 32117 

(f) Seasoned mortgages. An 

Enterprise’s purchase of a seasoned 

mortgage shall be treated as a mortgage 

purchase. 

(g) Purchase of refinancing mortgages. 

The purchase of a refinancing mortgage 

by an Enterprise shall be treated as a 

mortgage purchase only if the 

refinancing is an arms-length 

transaction that is borrower-driven. 

(h) Mortgage revenue bonds. The 

purchase or guarantee of a mortgage 

revenue bond issued by a State or local 

housing finance agency shall be treated 

as a purchase of the underlying 

mortgages only to the extent the 

Enterprise has sufficient information to 

determine whether the underlying 

mortgages or mortgage-backed securities 

serve very low-, low- or moderateincome families in a particular 

underserved market. 

(i) Loan modifications. An 

Enterprise’s modification of a loan in 

accordance with the Making Home 

Affordable program announced on 

March 4, 2009, that is held in the 

Enterprise’s portfolio or that is in a pool 

backing a security guaranteed by the 

Enterprise, shall be treated as a 

mortgage purchase. 

(j) Seller dissolution option—(1) 

Mortgages acquired through transactions 

involving seller dissolution options 

shall be treated as mortgage purchases 

only when: 

(i) The terms of the transaction 

provide for a lockout period that 

prohibits the exercise of the dissolution 

option for at least one year from the date 

on which the transaction was entered 

into by the Enterprise and the seller of 

the mortgages; and 

(ii) The transaction is not dissolved 

during the one-year minimum lockout 

period. 

(2) FHFA may grant an exception to 

the one-year minimum lockout period 

described in paragraphs (j)(1)(i) and 

(j)(1)(ii) of this section, in response to a 

written request from an Enterprise, if 

FHFA determines that the transaction 

furthers the purposes of the Enterprise’s 

Charter Act and the Safety and 

Soundness Act. 

(3) For purposes of paragraph (j) of 

this section, ‘‘seller dissolution option’’ 

means an option for a seller of 

mortgages to the Enterprises to dissolve 

or otherwise cancel a mortgage purchase 

agreement or loan sale. 

§ 1282.40 Failure to comply. 

If the Director determines that an 

Enterprise has not complied with, or 

there is a substantial probability that the 

Enterprise will not comply with, the 

duty to serve a particular underserved 

market in a given year and the Director 

determines that such compliance is or 

was feasible, the Director will follow the 

procedures in 12 U.S.C. 4566(b). 

§ 1282.41 Housing plans. 

(a) General. If the Director determines 

that an Enterprise did not comply with 

the duty to serve a particular 

underserved market in a given year, the 

Director may require the Enterprise to 

submit a housing plan for approval by 

the Director. 

(b) Nature of housing plan. If the 

Director requires a housing plan, the 

housing plan shall: 

(1) Be feasible; 

(2) Be sufficiently specific to enable 

the Director to monitor compliance 

periodically; 

(3) Describe the specific actions that 

the Enterprise will take—: 

(i) To comply with the duty to serve 

a particular underserved market for the 

next calendar year; or 

(ii) To make such improvements and 

changes in its operations as are 

reasonable in the remainder of the year, 

if the Director determines that there is 

a substantial probability that the 

Enterprise will fail to comply with the 

duty to serve a particular underserved 

market in such year; and 

(4) Address any additional matters 

relevant to the housing plan as required, 

in writing, by the Director. 

(c) Deadline for submission. The 

Enterprise shall submit the housing plan 

to the Director within 45 days after 

issuance of a notice requiring the 

Enterprise to submit a housing plan. 

The Director may extend the deadline 

for submission of a housing plan, in 

writing and for a time certain, to the 

extent the Director determines an 

extension is necessary. 

(d) Review of housing plans. The 

Director shall review and approve or 

disapprove housing plans in accordance 

with 12 U.S.C. 4566(c)(4) and (c)(5). 

(e) Resubmission. If the Director 

disapproves an initial housing plan 

submitted by an Enterprise, the 

Enterprise shall submit an amended 

housing plan acceptable to the Director 

not later than 15 days after the 

Director’s disapproval of the initial 

housing plan; the Director may extend 

the deadline if the Director determines 

an extension is in the public interest. If 

the amended housing plan is not 

acceptable to the Director, the Director 

may afford the Enterprise 15 days to 

submit a new housing plan. 

4. Add § 1282.66 in subpart D to read 

as follows: 

§ 1282.66 Enterprise reports on duty to 

serve. 

(a) Quarterly reports. Each Enterprise 

shall submit to the Director a quarterly 

report on its transactions and activities 

undertaken pursuant to its underserved 

markets plan, which shall include 

detailed information on the Enterprise’s 

progress towards meeting the 

benchmarks and objectives in its plan. 

(b) Annual report. To comply with the 

requirements in sections 309(n) of the 

Fannie Mae Charter Act and 307(f) of 

the Freddie Mac Act and for purposes 

of FHFA’s Annual Housing Report to 

Congress, each Enterprise shall submit 

to the Director an annual report on its 

transactions and activities undertaken 

pursuant to its underserved markets 

plan no later than 60 days after the end 

of each calendar year. For each 

underserved market, the annual report 

shall include: a description of the 

Enterprise’s market opportunities for 

loan purchases during the evaluation 

year to the extent data is available; the 

volume of qualifying loans purchased 

by the Enterprise; a comparison of the 

Enterprise’s loan purchases with its loan 

purchases in prior years; and a 

comparison of market opportunities 

with the size of the relevant markets in 

the past, to the extent data are available. 

Dated: May 28, 2010. 

Edward J. DeMarco, 

Acting Director, Federal Housing Finance 

Agency. 

[FR Doc. 2010–13411 Filed 6–4–10; 8:45 am] 

BILLING CODE 8070–01–P 

DEPARTMENT OF TRANSPORTATION 

Federal Aviation Administration 

14 CFR Part 71 

[Docket No. FAA–2010–0365; Airspace 

Docket No. 10–AAL–12] 

RIN 2120–AA66 

Proposed Amendment of Colored 

Federal Airway B–38; Alaska 

AGENCY: Federal Aviation 

Administration (FAA), DOT. 

ACTION: Notice of proposed rulemaking 

(NPRM). 

SUMMARY: This action proposes to 

amend Colored Federal Airway Blue 38 

(B–38), in Alaska. Specifically this 

action would remove a segment of B–38 

from Haines Non-directional Beacon 

(NDB) to the Whitehorse, Yukon 

Territories Canada (XY NDB). The FAA 

is proposing this action in preparation 

of the eventual decommissioning of XY 

NDB by the Canadian Air Authority 

NAV CANADA. 

DATES: Comments must be received on 

or before July 22, 2010. 

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32118 Federal Register / Vol. 75, No. 108 / Monday, June 7, 2010 / Proposed Rules 

ADDRESSES: Send comments on this 

proposal to the U.S. Department of 

Transportation, Docket Operations, M– 

30, 1200 New Jersey Avenue, SE., West 

Building Ground Floor, Room W12–140, 

Washington, DC 20590–0001; telephone: 

(202) 366–9826. You must identify FAA 

Docket No. FAA–2010–0365 and 

Airspace Docket No. 10–AAL–12 at the 

beginning of your comments. You may 

also submit comments through the 

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

FOR FURTHER INFORMATION CONTACT: Ken 

McElroy, Airspace and Rules Group, 

Office of System Operations Airspace 

and AIM, Federal Aviation 

Administration, 800 Independence 

Avenue, SW., Washington, DC 20591; 

telephone: (202) 267–8783. 

SUPPLEMENTARY INFORMATION: 

Comments Invited 

Interested parties are invited to 

participate in this proposed rulemaking 

by submitting such written data, views, 

or arguments as they may desire. 

Comments that provide the factual basis 

supporting the views and suggestions 

presented are particularly helpful in 

developing reasoned regulatory 

decisions on the proposal. Comments 

are specifically invited on the overall 

regulatory, aeronautical, economic, 

environmental, and energy-related 

aspects of the proposal. 

Communications should identify both 

docket numbers (FAA Docket No. FAA– 

2010–0365 and Airspace Docket No. 10– 

AAL–12) and be submitted in triplicate 

to the Docket Management Facility (see 

ADDRESSES section for address and 

phone number). You may also submit 

comments through the Internet at 

http://www.regulations.gov. 

Commenters wishing the FAA to 

acknowledge receipt of their comments 

on this action must submit with those 

comments a self-addressed, stamped 

postcard on which the following 

statement is made: ‘‘Comments to FAA 

Docket No. FAA–2010–0365 and 

Airspace Docket No. 10–AAL–12.’’ The 

postcard will be date/time stamped and 

returned to the commenter. 

All communications received on or 

before the specified closing date for 

comments will be considered before 

taking action on the proposed rule. The 

proposal contained in this action may 

be changed in light of comments 

received. All comments submitted will 

be available for examination in the 

public docket both before and after the 

closing date for comments. A report 

summarizing each substantive public 

contact with FAA personnel concerned 

with this rulemaking will be filed in the 

docket. 

Availability of NPRMs 

An electronic copy of this document 

may be downloaded through the 

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

Recently published rulemaking 

documents can also be accessed through 

the FAA’s Web page at http:// 

www.faa.gov/air_traffic/publications/ 

airspace_amendments/. You may 

review the public docket containing the 

proposal, any comments received, and 

any final disposition in person in the 

Dockets Office (see ADDRESSES section 

for address and phone number) between 

9 a.m. and 5 p.m., Monday through 

Friday, except Federal holidays. An 

informal docket may also be examined 

during normal business hours at the 

office of the Alaskan Service Center, 

Operations Support Group, Federal 

Aviation Administration, 222 West 7th 

Avenue, Box 14, Anchorage, AK 99513. 

Persons interested in being placed on 

a mailing list for future NPRMs should 

contact the FAA’s Office of Rulemaking, 

(202) 267–9677, for a copy of Advisory 

Circular No. 11–2A, Notice of Proposed 

Rulemaking Distribution System, which 

describes the application procedure. 

The Proposal 

The FAA is proposing an amendment 

to Title 14 Code of Federal Regulations 

(14 CFR) part 71 to amend Colored 

Federal Airway B–38, Alaska, by 

terminating the airway at the HNS NDB, 

AK, instead of the XY NDB, Canada. 

The Canadian Air Authority NAV 

CANADA recently conducted a study to 

determine the feasibility of keeping the 

XY NDB operational. NAV CANADA 

determined it is no longer feasible and 

will be decommissioning the XY NDB. 

Blue Federal Airways are published 

in paragraph 6009(d) of FAA Order 

7400.9T, signed August 27, 2009 and 

effective September 15, 2009, which is 

incorporated by reference in 14 CFR 

71.1. The Colored Federal Airway listed 

in this document will be published 

subsequently in the Order. 

The FAA has determined that this 

proposed regulation only involves an 

established body of technical 

regulations for which frequent and 

routine amendments are necessary to 

keep them operationally current. 

Therefore, this proposed regulation: (1) 

Is not a ‘‘significant regulatory action’’ 

under Executive Order 12866; (2) is not 

a ‘‘significant rule’’ under Department of 

Transportation (DOT) Regulatory 

Policies and Procedures (44 FR 11034; 

February 26, 1979); and (3) does not 

warrant preparation of a regulatory 

evaluation as the anticipated impact is 

so minimal. Since this is a routine 

matter that will only affect air traffic 

procedures and air navigation, it is 

certified that this proposed rule, when 

promulgated, will not have a significant 

economic impact on a substantial 

number of small entities under the 

criteria of the Regulatory Flexibility Act. 

The FAA’s authority to issue rules 

regarding aviation safety is found in 

Title 49 of the United States Code. 

Subtitle I, Section 106 describes the 

authority of the FAA Administrator. 

Subtitle VII, Aviation Programs, 

describes in more detail the scope of the 

agency’s authority. 

This rulemaking is promulgated 

under the authority described in 

Subtitle VII, Part A, Subpart I, Section 

40103. Under that section, the FAA is 

charged with prescribing regulations to 

assign the use of the airspace necessary 

to ensure the safety of aircraft and the 

efficient use of airspace. This regulation 

is within the scope of that authority as 

it modifies a Colored Federal Airway in 

Alaska. 

Environmental Review 

This proposal will be subject to an 

environmental analysis in accordance 

with FAA Order 1050.1E, 

‘‘Environmental Impacts: Policies and 

Procedures,’’ prior to any FAA final 

regulatory action. 

List of Subjects in 14 CFR Part 71 

Airspace, Incorporation by reference, 

Navigation (air). 

The Proposed Amendment 

In consideration of the foregoing, the 

Federal Aviation Administration 

proposes to amend 14 CFR part 71 as 

follows: 

PART 71—DESIGNATION OF CLASS A, 

B, C, D, AND E AIRSPACE AREAS; AIR 

TRAFFIC SERVICE ROUTES; AND 

REPORTING POINTS 

1. The authority citation for part 71 

continues to read as follows: 

Authority: 49 U.S.C. 106(g), 40103, 40113, 

40120; E.O. 10854, 24 FR 9565, 3 CFR, 1959– 

1963 Comp., p. 389. 

§ 71.1 [Amended] 

2. The incorporation by reference in 

14 CFR 71.1 of FAA Order 7400.9T, 

Airspace Designations and Reporting 

Points, signed August 27, 2009, and 

effective September 15, 2009, is to be 

amended as follows: 

Paragraph 6009 (d) Blue Federal Airways. 

* * * * * 

B–38 [Amended] 

From Elephant, AK, NDB, to Haines, AK, 

NDB. 

WReier-Aviles on DSKGBLS3C1PROD with PROPOSALS

Federal Register / Vol. 75, No. 108 / Monday, June 7, 2010 / Proposed Rules 32119 

Issued in Washington, DC, on May 26, 

2010. 

Edith V. Parish, 

Manager, Airspace and Rules Group. 

[FR Doc. 2010–13592 Filed 6–4–10; 8:45 am] 

BILLING CODE 4910–13–P 

DEPARTMENT OF TRANSPORTATION 

Federal Aviation Administration 

14 CFR Part 71 

[Docket No. FAA–2010–0187; Airspace 

Docket No. 09–AWP–10] 

RIN 2120–AA66 

Proposed Amendment of the Pacific 

High and Low Offshore Airspace 

Areas; California 

AGENCY: Federal Aviation 

Administration (FAA), DOT. 

ACTION: Notice of proposed rulemaking 

(NPRM). 

SUMMARY: This action proposes to 

amend the Pacific High and Low 

Offshore Airspace Areas by providing 

additional airspace in which domestic 

air traffic control procedures could be 

used to separate and manage aircraft 

operations in the currently uncontrolled 

airspace off the California coast. This 

proposed change would enhance the 

efficient utilization of that airspace 

within the National Airspace System. 

DATES: Comments must be received on 

or before July 22, 2010. 

ADDRESSES: Send comments on this 

proposal to the U.S. Department of 

Transportation, Docket Operations, M– 

30, 1200 New Jersey Avenue, SE., West 

Building Ground Floor, Room W12–140, 

Washington, DC 20590–0001; telephone: 

(202) 366–9826. You must identify FAA 

Docket No. FAA–2010–0187 and 

Airspace Docket No. 09–AWP–10 at the 

beginning of your comments. You may 

also submit comments through the 

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

FOR FURTHER INFORMATION CONTACT: Ken 

McElroy, Airspace and Rules Group, 

Office of System Operations Airspace 

and AIM, Federal Aviation 

Administration, 800 Independence 

Avenue, SW., Washington, DC 20591; 

telephone: (202) 267–8783. 

SUPPLEMENTARY INFORMATION: 

Comments Invited 

Interested parties are invited to 

participate in this proposed rulemaking 

by submitting such written data, views, 

or arguments, as they may desire. 

Comments that provide the factual basis 

supporting the views and suggestions 

presented are particularly helpful in 

developing reasoned regulatory 

decisions on the proposal. Comments 

are specifically invited on the overall 

regulatory, aeronautical, economic, 

environmental, and energy-related 

aspects of the proposal. 

Communications should identify both 

docket numbers (FAA Docket No. FAA– 

2010–0187 and Airspace Docket No. 09– 

AWP–10) and be submitted in triplicate 

to the Docket Management Facility (see 

‘‘ADDRESSES’’ section for address and 

phone number). You may also submit 

comments through the Internet at 

http://www.regulations.gov. 

Commenters wishing the FAA to 

acknowledge receipt of their comments 

on this action must submit with those 

comments a self-addressed, stamped 

postcard on which the following 

statement is made: ‘‘Comments to FAA 

Docket No. FAA–2010–0187 and 

Airspace Docket No. 09–AWP–10.’’ The 

postcard will be date/time stamped and 

returned to the commenter. 

All communications received on or 

before the specified closing date for 

comments will be considered before 

taking action on the proposed rule. The 

proposal contained in this action may 

be changed in light of comments 

received. All comments submitted will 

be available for examination in the 

public docket both before and after the 

closing date for comments. A report 

summarizing each substantive public 

contact with FAA personnel concerned 

with this rulemaking will be filed in the 

docket. 

Availability of NPRMs 

An electronic copy of this document 

may be downloaded through the 

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

Recently published rulemaking 

documents can also be accessed through 

the FAA’s Web page at http:// 

www.faa.gov/air_traffic/publications/ 

airspace_amendments/. 

You may review the public docket 

containing the proposal, any comments 

received and any final disposition in 

person in the Dockets Office (see 

‘‘ADDRESSES’’ section for address and 

phone number) between 9 a.m. and 5 

p.m., Monday through Friday, except 

Federal holidays. An informal docket 

may also be examined during normal 

business hours at the office of the 

Western Service Center, Operations 

Support Group, Federal Aviation 

Administration, 1601 Lind Avenue, 

SW., Renton, WA 98055. 

Persons interested in being placed on 

a mailing list for future NPRMs should 

contact the FAA’s Office of Rulemaking, 

(202) 267–9677, for a copy of Advisory 

Circular No. 11–2A, Notice of Proposed 

Rulemaking Distribution System, which 

describes the application procedure. 

History 

In October, 2009, the Los Angeles Air 

Route Traffic Control Center (ARTCC) 

personnel conducted a comprehensive 

review of the offshore airspace in the 

ARTCC’s area of responsibility. The 

review revealed that many of the aircraft 

transiting in the offshore airspace are 

being diverted around pockets of 

uncontrolled airspace. In order to 

facilitate operations in the offshore 

areas, modification of the Pacific High 

and Low Offshore Airspace Areas is 

needed. Currently, International Civil 

Aviation Organization (ICAO) oceanic 

air traffic control (ATC) procedures are 

used to separate and manage aircraft 

operations that extend beyond the 

lateral boundary of the existing Pacific 

High and Low Offshore Airspace Areas. 

Modifying the Pacific Offshore Airspace 

Areas by extending the boundaries 

further south of the current location to 

the Mexico Flight Information Region 

(FIR), will allow the application of 

domestic ATC separation procedures 

over a larger area. This proposal to 

modify the offshore airspace area would 

enhance system capacity and allow for 

more efficient utilization of that 

airspace. This action does not change 

the status of any warning areas 

contained within the Pacific Offshore 

Airspace Areas or affect Department of 

Defense (DOD) operations conducted 

therein. As with all warning areas, a 

letter of agreement between the 

controlling and using agencies is 

executed to define the conditions and 

procedures under which the controlling 

agency may authorize nonparticipating 

aircraft to transit the warning area. 

The Proposal 

The FAA is proposing an amendment 

to Title 14 Code of Federal Regulations 

(14 CFR) part 71 to modify the Pacific 

High and Low Offshore Airspace Areas, 

by extending the present airspace 

boundaries further southeast of the 

current location to the Mexico FIR 

capturing pockets of uncontrolled 

airspace off the California coast. This 

proposed modification would allow the 

application of domestic ATC separation 

procedures in lieu of ICAO separation 

and enhance system capacity and allow 

for more efficient utilization of that 

airspace. 

Offshore airspace areas are published 

in paragraph 2003 and 6007, 

respectfully, of FAA Order 7400.9T 

signed August 27, 2009 and effective 

September 15, 2009, which is 

incorporated by reference in 14 CFR 

71.1. The offshore airspace listed in this 

WReier-Aviles on DSKGBLS3C1PROD with PROPOSALS