Federal Register / Vol. 62, No. 238 / Thursday, December 11, 1997 / Notices 65265

FEDERAL COMMUNICATIONS

COMMISSION

Performance Review Board

As required by the Civil Service

Reform Act of 1978 (Pub. L. 95–454),

Chairman William E. Kennard

appointed the following executives to

the Performance Review Board: Ruth

Milkman, Michelle Oppenheimer, Mary

Beth Richards, Gerald Vaughan, Douglas

Webbink.

Federal Communications Commission.

Magalie Roman Salas,

Secretary.

[FR Doc. 97–32448 Filed 12–10–97; 8:45 am]

BILLING CODE 6712–01–M

FEDERAL COMMUNICATIONS

COMMISSION

[DA–97–2567 CC Docket No. 90–571]

Notice of Telecommunications Relay

Services (TRS) Applications for State

Certification Accepted

Released: December 8, 1997.

Notice is hereby given that the state

listed below has applied to the

Commission for State

Telecommunications Relay Service

(TRS) Certification. Current state

certifications expire July 25, 1998.

Applications for certification, covering

the five year period of July 26, 1998 to

July 25, 2003, must demonstrate that the

state TRS program complies with the

Commission’s rules for the provision of

TRS, pursuant to Title IV of the

Americans with Disabilities Act (ADA),

47 U.S.C. 225. These rules are codified

at 47 CFR 64.601–605.

Copies of applications for certification

are available for public inspection at the

Commission’s Common Carrier Bureau,

Network Services Division, Room 235,

2000 M Street, N.W., Washington, D.C.,

Monday through Thursday, 8:30 AM to

3:00 PM (closed 12:30 to 1:30 PM) and

the FCC Reference Center, Room 239,

1919 M Street, N.W., Washington, D.C.,

daily, from 9:00 AM to 4:30 PM.

Interested persons may file comments

on or before January 12, 1997.

Comments should reference the relevant

state file number of the state application

that is being commented upon. One

original and five copies of all comments

must be sent to William F. Caton, Acting

Secretary, Federal Communications

Commission, 1919 M Street, N.W.,

Washington, D.C. 20554. Two copies

also should be sent to the Network

Services Division, Common Carrier

Bureau, 2000 M Street, N.W., Room 235,

Washington, D.C. 20554.

A number of state TRS programs

currently holding FCC certification have

failed to apply for recertification.

Applications received after October 1,

1997, for which no extension has been

requested before October 1, 1997, must

be accompanied by a petition explaining

the circumstances of the late-filing and

requesting acceptance of the late-filed

application.

File No: TRS–97–52.

Applicant: Arkansas Deaf and Hearing

Impaired Telecommunications Services

Corporation State of Arkansas.

For further information, contact Al

McCloud, (202) 418–2499,

amccloud@fcc.gov, or Andy Firth, (202)

418–2224 (TTY), afirth@fcc.gov, at the

Network Services Division, Common

Carrier Bureau, Federal

Communications Commission.

Federal Communications Commission.

Magalie Roman Salas,

Secretary.

[FR Doc. 97–32449 Filed 12–10–97; 8:45 am]

BILLING CODE 6712–01–P

FEDERAL EMERGENCY

MANAGEMENT AGENCY

[FEMA–1190–DR]

Nebraska; Amendment to Notice of a

Major Disaster Declaration

AGENCY: Federal Emergency

Management Agency (FEMA).

ACTION: Notice.

SUMMARY: This notice amends the notice

of a major disaster for the State of

Nebraska, (FEMA–1190-DR), dated

November 1, 1997, and related

determinations.

EFFECTIVE DATE: November 20, 1997.

FOR FURTHER INFORMATION CONTACT:

Madge Dale, Response and Recovery

Directorate, Federal Emergency

Management Agency, Washington, DC

20472, (202) 646–3260.

SUPPLEMENTARY INFORMATION: The notice

of a major disaster for the State of

Nebraska dated November 1, 1997, is

hereby amended to include Category F

under the Public Assistance program for

the following areas determined to have

been adversely affected by the

catastrophe declared a major disaster by

the President in his declaration of

November 1, 1997.

The counties of Cass, Clay, Douglas,

Fillmore, Kimball, Lancaster, Nuckolls, Otoe,

Saline, Sarpy, Saunders, Seward, Thayer, and

Washington for Category F, Utilities, under

the Public Assistance program (already

designated for Categories A and B).

(Catalog of Federal Domestic Assistance No.

83.516, Disaster Assistance.)

Lacy E. Suiter,

Executive Associate Director, Response and

Recovery Directorate.

[FR Doc. 97–32433 Filed 12–10–97; 8:45 am]

BILLING CODE 6718–02–P

FEDERAL HOUSING FINANCE BOARD

[No. 97–N–9]

Proposed Collection; Comment

Request

AGENCY: Federal Housing Finance

Board.

ACTION: Notice.

SUMMARY: In accordance with the

requirements of the Paperwork

Reduction Act of 1995, the Federal

Housing Finance Board (Finance Board)

hereby gives notice that it is seeking

public comments concerning a threeyear extension by the Office of

Management and Budget (OMB) of the

previously approved information

collection entitled ‘‘Monthly Survey of

Rates and Terms on Conventional, 1-

Family, Nonfarm Loans,’’ usually

referred to as the ‘‘Monthly Interest Rate

Survey’’ or ‘‘MIRS.’’

DATES: Interested persons may submit

comments on or before February 9,

1998.

ADDRESSES: Address written comments

and requests for copies of the

information collection to Elaine L.

Baker, Secretary to the Board, 202/408–

2837, Federal Housing Finance Board,

1777 F Street, N.W., Washington, D.C.

20006.

FOR FURTHER INFORMATION CONTACT:

Timothy D. Forsberg, Financial Analyst,

202/408–2968, Financial Research

Division, Office of Policy, Federal

Housing Finance Board, 1777 F Street,

N.W., Washington, D.C. 20006.

SUPPLEMENTARY INFORMATION

A. Need For and Use of Information

Collection

The Finance Board’s predecessor, the

former Federal Home Loan Bank Board

(FHLBB), first provided survey data on

mortgage interest rates in 1963. No

statutory or regulatory provision

explicitly required the FHLBB to

conduct the MIRS although references

to the MIRS did appear in several

Federal and State statutes.

Responsibility for conducting the MIRS

was transferred to the Finance Board

upon dissolution of the FHLBB in 1989.

See Financial Institutions Reform,

Recovery, and Enforcement Act of 1989
65266 Federal Register / Vol. 62, No. 238 / Thursday, December 11, 1997 / Notices

(FIRREA), Pub. L. 101–73, Title IV, sec.

402(e)(3)–(4), 103 Stat. 183, codified at

12 U.S.C. 1437 note, and Title VII, sec.

731(f)(1), (f)(2)(B), 103 Stat. 433 (Aug. 9,

1989). In 1993, the Finance Board

promulgated a final rule describing the

method by which it conducts the MIRS.

See 58 FR 19195 (Apr. 13, 1993),

codified at 12 CFR 902.3. Since its

inception, the MIRS has provided the

only consistent source of information on

mortgage interest rates and terms and

house prices for areas smaller than the

entire country.

Statutory references to the MIRS

include the following:

• Pursuant to their respective organic

statutes, the Federal National Mortgage

Association (also known as Fannie Mae)

and the Federal Home Loan Mortgage

Corporation (also known as Freddie

Mac) use the MIRS results as the basis

for allowable annual adjustments to the

maximum dollar limits for their

purchase of conventional mortgages. See

12 U.S.C. 1454(a)(2), 1717(b)(2). The

Fannie Mae and Freddie Mac limits

were first tied to the MIRS by the

Housing and Community Development

Act of 1980. See Public Law 96–399,

Title III, section 313(a)–(b), 94 Stat.

1644–1645 (Oct. 8, 1980). At that time,

the nearly identical statutes required

Fannie Mae and Freddie Mac to base the

dollar limit adjustments on ‘‘the

national average one-family house price

in the monthly survey of all major

lenders conducted by the [FHLBB].’’ See

12 U.S.C. 1454(a)(2), 1717(b)(2) (1989).

When Congress abolished the FHLBB in

1989, it replaced the reference to the

FHLBB in the Fannie Mae and Freddie

Mac statutes with a reference to the

Finance Board. See FIRREA, Title VII,

sec. 731(f)(1), (f)(2)(B), 103 Stat. 433.

• Also in 1989, Congress required the

Chairperson of the Finance Board to

take necessary actions to ensure that

indices used to calculate the interest

rate on adjustable rate mortgages

(ARMs) remain available. See id. Title

IV, section 402(e)(3)–(4), 103 Stat. 183,

codified at 12 U.S.C. 1437 note. At least

one ARM index, known as the National

Average Contract Mortgage Rate for the

Purchase of Previously Occupied Homes

by Combined Lenders, is derived from

the MIRS data. The statute permits the

Finance Board to substitute a

substantially similar ARM index after

notice and comment only if the new

ARM index is based upon data

substantially similar to that of the

original ARM index and substitution of

the new ARM index will result in an

interest rate substantially similar to the

rate in effect at the time the new ARM

index replaces the existing ARM index.

See 12 U.S.C. 1437 note.

• Congress indirectly connected the

high cost area limits for mortgages

insured by the Federal Housing

Administration (FHA) of the

Department of Housing and Urban

Development to the MIRS in 1994 when

it statutorily linked these FHA

insurance limits to the purchase price

limitations for Fannie Mae. See Public

Law 103–327, 108 Stat. 2314 (Sept. 28,

1994), codified at 12 U.S.C.

1709(b)(2)(A)(ii).

• The Internal Revenue Service uses

the MIRS data in establishing ‘‘safeharbor’’ limitations for mortgages

purchased with the proceeds of

mortgage revenue bond issues. See 26

CFR 6a.103A–2(f)(5).

• Statutes in several states and U.S.

territories, including California, Indiana,

Michigan, Minnesota, New Jersey,

Wisconsin, and the Virgin Islands, refer

to, or rely upon, the MIRS. See, e.g., Cal.

Rev. & Tax 439.2 (Deering 1996) (value

of owner-occupied single family

dwellings for tax purposes); Cal. Civ.

1916.7, 1916.8 (mortgage rates); Ind.

Code Ann. 28–1–21.5–1 (Burns 1996)

(mortgage instruments); Iowa Code

534.205 (1995) (real estate loan

practices); Mich. Stat. Ann. 23.1125(21)

(1996) (enforcement of mortgages);

Minn. Stat. 92.06 (1996) (payments for

state land sales); N.J. Rev. Stat. 31:1–1

(1996) (interest rates); Wis. Stat. 138.056

(1996) (variable loan rates); V.I. Code

Ann. tit. 11, section 951 (1996) (legal

rate of interest).

The Finance Board uses the

information collection to produce the

MIRS and for general statistical

purposes and program evaluation.

Economic policy makers use the MIRS

data to determine trends in the mortgage

markets, including interest rates, down

payments, terms to maturity, terms on

ARMs, and initial fees and charges on

mortgage loans. Other federal banking

agencies use the MIRS results for

research purposes. Information

concerning the MIRS is regularly

published in the popular trade press, in

Finance Board releases and on its website, and in publications of other federal

agencies.

The likely respondents include a

sample of 390 savings associations,

mortgage companies, commercial banks,

and savings banks. The information

collection requires each respondent to

complete FHFB Form 10–91 or an

equivalent electronic submission on a

monthly basis.

The OMB number for the information

collection is 3069–0001. The OMB

clearance for the information collection

expires on April 30, 1998.

B. Burden Estimate

The Finance Board estimates the total

annual average number of respondents

at 390, with twelve annual responses

per respondent. The estimate for the

average hours per response is 1.0 hours.

The estimate for the total annual hour

burden is 4,680 hours (390 respondents

x 12 responses/respondent x

approximately 1.0 hour).

C. Comment Request

The Finance Board requests written

comments on the following: (1) Whether

the collection of information is

necessary for the proper performance of

Finance Board functions, including

whether the information has practical

utility; (2) the accuracy of the Finance

Board’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

respondents, including through the use

of automated collection techniques or

other forms of information technology.

Dated: December 3, 1997.

By the Federal Housing Finance Board.

William W Ginsberg,

Managing Director.

[FR Doc. 97–32395 Filed 12–10–97; 8:45 am]

BILLING CODE 6725–01–P

FEDERAL MARITIME COMMISSION

Ocean Freight Forwarder License;

Revocations

The Federal Maritime Commission

hereby gives notice that the following

freight forwarder licenses have been

revoked pursuant to section 19 of the

Shipping Act of 1984 (46 U.S.C. app.

1718) and the regulations of the

Commission pertaining to the licensing

of ocean freight forwarders, effective on

the corresponding revocation dates

shown below:

License Number: 3791.

Name: Air-Sea International, Inc.

Address: 218 Marsh Island Drive,

Chesapeake, VA 23320–9246.

Date Revoked: November 17, 1997.

Reason: Surrendered license

voluntarily.

License Number: 3159.

Name: Artpak Transport, Ltd.

Address: c/o Judson, 50 West 57th

Street, New York, NY 10019.

Date Revoked: November 25, 1997.

Reason: Surrendered license

voluntarily.

License Number: 3593.

Name: Caliber Customs Brokers and

Freight Forwarders, Inc.