/Vol. 74, No. 223/Friday, November 20, 2009/Rules and Regulations
8. Amend Appendix A to part 325 byrevising footnote 39 to read as follows:
Appendix A to Part 325—Statement of Policy on Risk-Based Capital
* * * * *
* * * * *
This category would also include a first-lien residential mortgage loan on a one-to-four family property that was appropriatelyassigned a 50 percent risk weight pursuant tothis section immediately prior tomodification (on a permanent or trial basis)under the Home Affordable MortgageProgram established by the U.S. Departmentof Treasury, so long as the loan, as modified,is not 90 days or more past due or innonaccrual status and meets other applicablecriteria for a 50 percent risk weight. Inaddition, real estate loans that do not meetall of the specified criteria or that are madefor the purpose of property development areplaced in the 100 percent risk category.
* * * * *
Department of the TreasuryOffice of Thrift Supervision
12 CFR Chapter V
For reasons set forth in the commonpreamble, the Office of ThriftSupervision amends part 567 of ChapterV of title 12 of the Code of FederalRegulations as follows:
9. The authority for citation for part567 continues to read as follows:
12 U.S.C. 1462, 1462a, 1463,1464, 1467a, 1828 (note)
10. Section 576.1 is amended in thedefinition
Qualifying mortgage loan
byrevising paragraph (4) to read as follows
* * * * *
Qualifying mortgage loan
* * * * *(4) A loan that meets the requirementsof this section prior to modification ona permanent or trial basis under the U.S.Department of Treasury’s HomeAffordable Mortgage Program may beincluded as a
qualifying mortgage loan,
so long as the loan is not 90 days ormore past due.* * * * *
Dated: November 10, 2009.
John C. Dugan,
Comptroller of Currency.
By order of the Board of Governors of theFederal Reserve System, November 12, 2009.
Jennifer J. Johnson,
Secretary of the Board.
Dated at Washington DC, this 12th day of November 2009.Federal Deposit Insurance Corporation.
Valerie J. Best,
Assistant Executive Secretary.
Dated: October 29, 2009.By the Office of the Thrift Supervision.
John E. Bowman,
[FR Doc. E9–27776 Filed 11–19–09; 8:45 am]
BILLING CODE 6714–01–P; 6210–01–P; 4810–33–P;6720–01–P
FEDERAL RESERVE SYSTEM12 CFR Part 226
[Regulation Z; Docket No. R–1378]
Truth in Lending
Board of Governors of theFederal Reserve System.
Interim final rule; request forpublic comment.
The Board is publishing forpublic comment an interim final ruleamending Regulation Z (Truth inLending). The interim rule implementsSection 131(g) of the Truth in LendingAct (TILA), which was enacted on May20, 2009, as Section 404(a) of theHelping Families Save Their HomesAct. TILA Section 131(g) becameeffective immediately upon enactmentand established a new requirement fornotifying consumers of the sale ortransfer of their mortgage loans. Thepurchaser or assignee that acquires theloan must provide the requireddisclosures in writing no later than 30days after the date on which the loan issold or otherwise transferred orassigned. The Board is issuing thisinterim rule, effective immediately uponpublication, so that parties subject to thestatutory requirement have guidance onhow to comply. However, to allow timefor any necessary operational changes,compliance with the interim final ruleis optional for 60 days from the date of publication; during this period, coveredpersons would continue to be subject tothe statute’s requirements. The Boardseeks comment on all aspects of theinterim rule.
This interim final rule iseffective November 20, 2009; however,to allow time for any necessaryoperational changes, compliance withthis interim final rule is optional until January 19, 2010. Comments must bereceived on or before January 19, 2010.
You may submit comments,identified by Docket No. R– 1378, byany of the following methods:
Agency Web Site: http:// www.federalreserve.gov
. Follow theinstructions for submitting comments at
Federal eRulemaking Portal: http:// www.regulations.gov.
Follow theinstructions for submitting comments.
Include the docket number in thesubject line of the message.
(202) 452–3819 or (202) 452–3102.
Address to Jennifer J. Johnson,Secretary, Board of Governors of theFederal Reserve System, 20th Street andConstitution Avenue, NW., Washington,DC 20551.All public comments will be madeavailable on the Board’s Web site at
assubmitted, unless modified for technicalreasons. Accordingly, comments willnot be edited to remove any identifyingor contact information. Publiccomments may also be viewedelectronically or in paper in Room MP–500 of the Board’s Martin Building (20thand C Streets, NW.,) between 9 a.m. and5 p.m. on weekdays.
FOR FURTHER INFORMATION CONTACT
PaulMondor, Senior Attorney, or StephenShin, Attorney; Division of Consumerand Community Affairs, Board of Governors of the Federal ReserveSystem, Washington, DC 20551, at (202)452–2412 or (202) 452–3667. For usersof Telecommunications Device for theDeaf (TDD) only, contact (202) 263–4869.
The Truth in Lending Act (TILA), 15U.S.C. 1601
seeks to promote theinformed use of consumer credit byrequiring disclosures about its costs andterms. TILA requires additionaldisclosures for loans secured byconsumers’ homes and permitsconsumers to rescind certaintransactions that involve their principaldwelling. TILA directs the Board toprescribe regulations to carry out itspurposes and specifically authorizes theBoard, among other things, to issueregulations that contain suchclassifications, differentiations, or otherprovisions, or that provide for such
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d c o l o n o n D S K H W C L 6 B 1 P R O D w i t h R U L E S