[Federal Register Volume 74, Number 101 (Thursday, May 28, 2009)]
[Notices]
[Pages 25538-25539]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: E9-12401]


-----------------------------------------------------------------------

FEDERAL HOUSING FINANCE AGENCY

[No. 2009-N-05]


Proposed Collection; Comment Request

AGENCY: Federal Housing Finance Agency.

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

-----------------------------------------------------------------------

SUMMARY: In accordance with the requirements of the Paperwork Reduction 
Act of 1995, the Federal Housing Finance Agency (FHFA) is seeking 
public comments concerning a currently approved information collection 
known as ``Federal Home Loan Bank Acquired Member Assets, Core Mission 
Activities, Investments and Advances,'' which has been assigned control 
2590-0008 by the Office of Management and Budget (OMB). The FHFA 
intends to submit the information collection to OMB for review and 
approval of a three year extension of the control number, which is due 
to expire on August 31, 2009.

DATES: Interested persons may submit comments on or before July 27, 
2009.
    Comments: Submit comments to the FHFA using any one of the 
following methods:
    E-mail: <a href="/cdn-cgi/l/email-protection#1e6c7b797d7173737b706a6d5e7876787f30797168"><span class="__cf_email__" data-cfemail="a0d2c5c7c3cfcdcdc5ced4d3e0c6c8c6c18ec7cfd6">[email protected]</span></a>. Please include Proposed Collection; 
Comment Request: Federal Home Loan Bank Acquired Member Assets, Core 
Mission Activities, Investments and Advances (No. 2009-N-05) in the 
subject line of the message.
    Mail/Hand Delivery: Federal Housing Finance Agency, Fourth Floor, 
1700 G Street NW., Washington, DC 20552, ATTENTION: Public Comments/
Proposed Collection; Comment Request: Federal Home Loan Bank Acquired 
Member Assets, Core Mission Activities, Investments and Advances (No. 
2009-N-05).
    Federal eRulemaking Portal: http://www.regulations.gov. Follow the 
instructions for submitting comments.
    We will post all public comments we receive without change, 
including any personal information you provide, such as your name and 
address, on the FHFA Web site at http://www.fhfa.gov.

FOR FURTHER INFORMATION CONTACT: David L. Roderer, Senior Financial 
Analyst at 202-408-2540 (not a toll-free number), 
<a href="/cdn-cgi/l/email-protection#533732253a377d3f7d213c373621362113353b35327d343c25"><span class="__cf_email__" data-cfemail="acc8cddac5c882c082dec3c8c9dec9deeccac4cacd82cbc3da">[email protected]</span></a>. The telephone number for the 
Telecommunications Device for the Deaf is 800-877-8339.

SUPPLEMENTARY INFORMATION: 

A. Need for and Use of the Information Collection

    The FHFA has authorized the Federal Home Loan Banks (Banks) to 
acquire mortgage loans and other assets from their members or housing 
associates under certain circumstances. 12 CFR part 955. The regulation 
refers to these assets as acquired member assets or AMA. As part of 
this regulatory authorization, each Bank that acquires residential 
mortgage loans must provide to the FHFA certain loan-level data on a 
quarterly basis. The reporting requirements, which previously were in 
12 CFR part 955 (specifically, section 955.4 and Appendices A and B), 
currently are contained in the FHFA Data Reporting Manual. The FHFA 
uses this data to monitor the safety and soundness of the Banks and the 
extent to which the Banks are fulfilling their statutory housing 
finance mission through their AMA programs. See 12 U.S.C. 1422a(a).
    While the Banks provide the AMA data directly to the FHFA, each 
Bank initially must collect the information from the private-sector 
member or housing associate from which the Bank acquires the mortgage 
loan. Bank members and housing associates already collect the vast 
majority of the data the FHFA requires in order to do business with the 
Federal National Mortgage Association (Fannie Mae) and the Federal Home 
Loan Mortgage Corporation (Freddie Mac) under regulatory requirements 
issued by the Department of Housing and Urban

[[Page 25539]]

Development (HUD) and pursuant to the information collection 
requirements under the Home Mortgage Disclosure Act (HMDA). Thus, the 
FHFA's information collection imposes only a minor incremental 
additional burden on Bank members and housing associates.
    The OMB control number for the information collection, which 
expires on August 31, 2009, is 2590-0008. The likely respondents are 
institutions that sell AMA assets to Banks.

B. Burden Estimate

    The FHFA estimates that the hour burden associated with the AMA 
collection is little changed. More institutions are participating in 
the AMA program, but the average report size has gone down 
dramatically. The FHFA estimates the total annual average number of 
respondents at 750, with 4 responses per respondent. The estimate for 
the average hours per response is 12 hours. The estimate for the total 
annual hour burden is 36,000 hours (750 respondents x 4 responses per 
respondent x 12 hours).
    Bank members could incur additional one-time costs to be able to 
collect and report additional loan-level data elements. The FHFA 
estimates this additional, one-time cost at $150,000 ($2,000 x 750 
members).

C. Comment Request

    The 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, including through the use of 
automated collection techniques or other forms of information 
technology.

    Dated: May 21, 2009.
James B. Lockhart III,
Director, Federal Housing Finance Agency.
[FR Doc. E9-12401 Filed 5-27-09; 8:45 am]
BILLING CODE 8070-01-P


</pre><script data-cfasync="false" src="/cdn-cgi/scripts/5c5dd728/cloudflare-static/email-decode.min.js"></script></body>
</html>