6334 Federal Register / Vol. 70, No. 24 / Monday, February 7, 2005 / Rules and Regulations 

7. Absence of an appropriate 

assessment and documentation of the 

consumer’s ability to repay the loan in 

accordance with its terms, 

commensurate with the type of loan, as 

required by Appendix A of this part. 

8. Mandatory arbitration clauses or 

agreements, particularly if the eligibility 

of the loan for purchase in the 

secondary market is thereby impaired. 

9. Pricing terms that result in the 

loan’s being subject to the provisions of 

the Home Ownership and Equity 

Protection Act. 15 U.S.C. 1639 et seq.

10. Original principal balance of the 

loan in excess of appraised value. 

11. Payment schedules that 

consolidate more than two periodic 

payments and pay them in advance 

from the loan proceeds. 

12. Payments to home improvement 

contractors under a home improvement 

contract from the proceeds of a 

residential mortgage loan other than by 

an instrument payable to the consumer, 

jointly to the consumer and the 

contractor, or through an independent 

third party escrow agent. 

C. Enhanced Care to Avoid Abusive 

Loan Terms, Conditions, and Features 

in Certain Mortgages. A bank may face 

heightened risks when it solicits or 

offers loans to consumers who are not 

financially sophisticated, have language 

barriers, or are elderly, or have limited 

or poor credit histories, are substantially 

indebted, or have other characteristics 

that limit their credit choices. In 

connection with such consumers, a 

bank should exercise enhanced care if it 

employs the residential mortgage loan 

terms, conditions, and features 

described in paragraph B of this section 

III, and should also apply appropriate 

heightened internal controls and 

monitoring to any line of business that 

does so. 

D. Avoidance of Consumer 

Misunderstanding. A bank’s residential 

mortgage lending activities should 

include provision of timely, sufficient, 

and accurate information to a consumer 

concerning the terms and costs, risks, 

and benefits of the loan. Consumers 

should be provided with information 

sufficient to draw their attention to 

these key terms. 

E. Purchased and Brokered Loans.

With respect to consumer residential 

mortgage loans that the bank purchases, 

or makes through a mortgage broker or 

other intermediary, the bank’s 

residential mortgage lending activities 

should reflect standards and practices 

consistent with those applied by the 

bank in its direct lending activities and 

include appropriate measures to 

mitigate risks, such as the following: 

1. Criteria for entering into and 

continuing relationships with 

intermediaries and originators, 

including due diligence requirements. 

2. Underwriting and appraisal 

requirements. 

3. Standards related to total loan 

compensation and total compensation of 

intermediaries, including maximum 

rates, points, and other charges, and the 

use of overages and yield-spread 

premiums, structured to avoid 

providing an incentive to originate loans 

with predatory or abusive 

characteristics. 

4. Requirements for agreements with 

intermediaries and originators, 

including with respect to risks 

identified in the due diligence process, 

compliance with appropriate bank 

policies, procedures and practices and 

with applicable law (including remedies 

for failure to comply), protection of the 

bank against risk, and termination 

procedures. 

5. Loan documentation procedures, 

management information systems, 

quality control reviews, and other 

methods through which the bank will 

verify compliance with agreements, 

bank policies, and applicable laws, and 

otherwise retain appropriate oversight 

of mortgage origination functions, 

including loan sourcing, underwriting, 

and loan closings. 

6. Criteria and procedures for the 

bank to take appropriate corrective 

action, including modification of loan 

terms and termination of the 

relationship with the intermediary or 

originator in question. 

F. Monitoring and Corrective Action.

A bank’s consumer residential mortgage 

lending activities should include 

appropriate monitoring of compliance 

with applicable law and the bank’s 

lending standards and practices, 

periodic monitoring and evaluation of 

the nature, quantity and resolution of 

customer complaints, and appropriate 

evaluation of the effectiveness of the 

bank’s standards and practices in 

accomplishing the objectives set forth in 

these Guidelines. The bank’s activities 

also should include appropriate steps 

for taking corrective action in response 

to failures to comply with applicable 

law and the bank’s lending standards, 

and for making adjustments to the 

bank’s activities as may be appropriate 

to enhance their effectiveness or to 

reflect changes in business practices, 

market conditions, or the bank’s lines of 

business, residential mortgage loan 

programs, or customer base.

Dated: January 31, 2005. 

Julie L. Williams, 

Acting Comptroller of the Currency.

[FR Doc. 05–2211 Filed 2–4–05; 8:45 am] 

BILLING CODE 4810–33–P

DEPARTMENT OF TRANSPORTATION

Federal Aviation Administration 

14 CFR Part 71

[Docket No. FAA–2005–20060; Airspace 

Docket No. 05–ACE–2] 

Modification of Class E Airspace; 

Rolla, MO

AGENCY: Federal Aviation 

Administration (FAA), DOT.

ACTION: Direct final rule; request for 

comments. 

SUMMARY: This action amends Title 14 

Code of Federal Regulations, part 71 (14 

CFR 71) by revising Class E airspace at 

Rolla, MO. A review of controlled 

airspace for Rolla Downtown Airport 

revealed it does not comply with the 

criteria for 700 feet above ground level 

(AGL) airspace required for diverse 

departures. The area is modified and 

enlarged to conform to the criteria in 

FAA Orders.

DATES: This direct final rule is effective 

on 0901 UTC, May 12, 2005. Comments 

for inclusion in the Rules Docket must 

be received on or before March 2, 2005.

ADDRESSES: Send comments on this 

proposal to the Docket Management 

System, U.S. Department of 

Transportation, Room Plaza 401, 400 

Seventh Street, SW., Washington, DC 

20590–0001. You must identify the 

docket number FAA–2005–20060/

Airspace Docket No. 05–ACE–2, at the 

beginning of your comments. You may 

also submit comments on the Internet at 

http://dms.dot.gov. You may review the 

public docket containing the proposal, 

any comments received, and any final 

disposition in person in the Dockets 

Office between 9 a.m. and 5 p.m., 

Monday through Friday, except Federal 

holidays. The Docket Office (telephone 

1–800–647–5527) is on the plaza level 

of the Department of Transportation 

NASSIF Building at the above address.

FOR FURTHER INFORMATION CONTACT:

Brenda Mumper, Air Traffic Division, 

Airspace Branch, ACE–520A, DOT 

Regional Headquarters Building, Federal 

Aviation Administration, 901 Locust, 

Kansas City, MO 64106; telephone: 

(816) 329–2524.

SUPPLEMENTARY INFORMATION: This 

amendment to 14 CFR 71 modifies the 

Class E airspace area extending upward 

Federal Register / Vol. 70, No. 24 / Monday, February 7, 2005 / Rules and Regulations 6335

from 700 feet above the surface at Rolla, 

MO. An examination of controlled 

airspace for Rolla Downtown Airport 

revealed it does not meet the criteria for 

700 feet AGL airspace required for 

diverse departures as specified in FAA 

Order 7400.2E, Procedures for Handling 

Airspace Matters. The criteria in FAA 

Order 7400.2E for an aircraft to reach 

1200 feet AGL, taking into consideration 

rising terrain, is based on a standard 

climb gradient of 200 feet per mile plus 

the distance from the airport reference 

point to the end of the outermost 

runway. Any fractional part of a mile is 

converted to the next higher tenth of a 

mile. This amendment expands the 

airspace area from a 6-mile radius to a 

7.8-mile radius of Rolla Downtown 

Airport and brings the legal description 

of the Rolla, MO Class E airspace area 

into compliance with FAA Order 

7400.2E. This area will be depicted on 

appropriate aeronautical charts. Class E 

airspace areas extending upward from 

700 feet or more above the surface of the 

earth are published in paragraph 6005 of 

FAA Order 7400.9M, Airspace 

Designations and Reporting Points, 

dated August 30, 2004, and effective 

September 16, 2004, which is 

incorporated by reference in 14 CFR 

71.1. The Class E airspace designation 

listed in this document will be 

published subsequently in the Order.

The Direct Final Rule Procedure 

The FAA anticipates that this 

regulation will not result in adverse or 

negative comment and, therefore, is 

issuing it as a direct final rule. Previous 

actions of this nature have not been 

controversial and have not resulted in 

adverse comments or objections. Unless 

a written adverse or negative comment, 

or a written notice of intent to submit 

an adverse or negative comment is 

received within the comment period, 

the regulation will become effective on 

the date specified above. After the close 

of the comment period, the FAA will 

publish a document in the Federal 

Register indicating that no adverse or 

negative comments were received and 

confirming the date on which the final 

rule will become effective. If the FAA 

does receive, within the comment 

period, an adverse or negative comment, 

or written notice of intent to submit 

such a comment, a document 

withdrawing the direct final rule will be 

published in the Federal Register, and 

a notice of proposed rulemaking may be 

published with a new comment period. 

Comments Invited 

Interested parties are invited to 

participate in this 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 and be submitted in 

triplicate to the address listed above. 

Commenters wishing the FAA to 

acknowledge receipt of their comments 

on this notice must submit with those 

comments a self-addressed, stamped 

postcard on which the following 

statement is made: ‘‘Comments to 

Docket No. FAA–2005–20060/Airspace 

Docket No. 05–ACE–2.’’ The postcard 

will be date/time stamped and returned 

to the commenter. 

Agency Findings 

The regulations adopted herein will 

not have a substantial direct effect on 

the States, on the relationship between 

the national Government and the States, 

or on the distribution of power and 

responsibilities among the various 

levels of government. Therefore, it is 

determined that this final rule does not 

have federalism implications under 

Executive Order 13132. 

The FAA has determined that this 

regulation only involves an established 

body of technical regulations for which 

frequent and routine amendments are 

necessary to keep them operationally 

current. Therefore, this regulation—(1) 

is not a ‘‘significant regulatory action’’

under Executive Order 12866; (2) is not 

a ‘‘significant rule’’ under 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 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. 

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 

since it contains aircraft executing 

instrument approach procedures to 

Rolla Downtown Airport.

List of Subjects in 14 CFR Part 71

Airspace, Incorporation by reference, 

Navigation (air).

Adoption of the Amendment

■ Accordingly, the Federal Aviation 

Administration amends 14 CFR part 71 

as follows:

PART 71—DESIGNATION OF CLASS A, 

CLASS B, CLASS C, CLASS D, AND 

CLASS E AIRSPACE AREAS; 

AIRWAYS; 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 9665, 3 CFR, 1959–

1963 Comp., p. 389.

§ 71.1 [Amended]

■ 2. The incorporation by reference in 14 

CFR 71.1 of Federal Aviation 

Administration Order 7400.9M, dated 

August 30, 2004, and effective 

September 16, 2004, is amended as 

follows:

Paragraph 6005 Class E airspace areas 

extending upward from 700 feet or more 

above the surface of the earth.

* * * * *

ACE MO E5 Rolla, MO 

Rolla Downtown Airport, MO 

(Lat. 37°56′08′′ N., long. 91°48′49′′ W.)

That airspace extending upward from 700 

feet above the surface within a 7.8-mile 

radius of Rolla Downtown Airport.

* * * * *

Issued in Kansas City, MO, on January 20, 

2005. 

Anthony D. Roetzel, 

Acting Area Director, Western Flight Services 

Operations.

[FR Doc. 05–2232 Filed 2–4–05; 8:45 am] 

BILLING CODE 4910–13–M

DEPARTMENT OF TRANSPORTATION

Federal Aviation Administration 

14 CFR Part 71 

[Docket No. FAA–2004–18734; Airspace 

Docket No. 03–AAL–03] 

RIN 2120–AA66 

Revision of Colored Federal Airway; 

AK

AGENCY: Federal Aviation 

Administration (FAA), DOT.

ACTION: Final rule.

SUMMARY: This action revises Colored 

Federal Airway Green 16 (G–16), in 

Alaska. This action adds to the