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Rule

Reorganization of the Office of Federal Housing Enterprise Oversight Regulations

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Information about this document as published in the Federal Register.

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Start Preamble

AGENCY:

Office of Federal Housing Enterprise Oversight, HUD.

ACTION:

Final rule.

SUMMARY:

The Office of Federal Housing Enterprise Oversight (OFHEO) is reorganizing and renumbering its regulations. The effect is to achieve a more logical and efficient presentation of current regulations and to provide a framework for new regulations. In promulgating this reorganizational regulation, OFHEO finds that notice and public comment are not necessary. Accordingly, this final regulation is effective upon publication in the Federal Register.

EFFECTIVE DATE:

This regulation is effective December 26, 2000.

Start Further Info

FOR FURTHER INFORMATION CONTACT:

David W. Roderer, Deputy General Counsel, Office of Federal Housing Enterprise Oversight, 1700 G. Street, NW., Fourth Floor, Washington, DC 20552, telephone (202) 414-6924 (not a toll free number). The telephone number for the Telecommunications Device for the Deaf is: (800) 877-8339.

End Further Info End Preamble Start Supplemental Information

SUPPLEMENTARY INFORMATION:

On July 27, 2000, the Office of Federal Housing Enterprise Oversight (OFHEO) published a notice of its intention to undertake a regulatory project to ensure the adoption and implementation of various written policies and procedures for the supervision of the Federal National Mortgage Association and the Federal Home Loan Mortgage Corporation. See 65 FR 46119 (July 27, 2000). This final regulation makes technical and organizational changes to the numbering of existing regulations so they will fit logically within a new framework of the regulatory project that will incorporate additional rulemaking. Section 553(b)(3)(A) of Title 5, United States Code, provides that when regulations involve matters of agency organization, procedure or practice, the agency may publish regulations in final form and that a delayed effective date is unnecessary. 5 U.S.C. 553(d).

The final regulation adds three new subchapter headings, amends one subchapter heading, redesignates existing parts and conforms internal cross-references therein. The following derivation table shows the origin of the material that is contained in each of the newly designated subchapters and parts.

Subchapter A—OFHEO Organization and Functions

New partSubject matterOld part
1700Organization and Functions1700
1702Privacy Act of 19741720
1703Release of Information1710
1704Debt Collection1730
1705Equal Access to Justice Act Amendment1735

Subchapter B—[Reserved]

Subchapter C—Safety and Soundness

PartSubject matterPart
1750Capital1750

Subchapter D—Rules of Practice and Procedure

PartSubject matterPart
1780Rules of Practice and Procedure1780

With the renumbering of OFHEO's regulations, the section reference and internal cross-references to old part and section numbers must also be changed. As such, each new part addresses amendatory cross-references in a table reflecting the new sections, the cross-sections to be deleted, and the new cross-sections to be added.

Regulatory Impact

This is a technical rule that reorganizes OFHEO's regulations without substantive change to the rule and will not impose any substantive regulatory requirements. It is not a significant regulatory action under Executive Order 12866, 58 FR 51735 (Oct. 4, 1993), or a “rule” under the Regulatory Flexibility Act, 5 U.S.C. 601 et seq., or the Small Business Regulatory Enforcement Act, 5 U.S.C. 804(3)(C). Consequently, no regulatory impact assessment is required, no regulatory flexibility analysis is required, and no report to Congress or GAO is required.

OFHEO has determined that there is good cause for issuing this rule without notice and public comment. Section 553(b)(3) of Title 5, United States Code, provides that when regulations involve matters of agency organization, procedure or practice, the agency may publish regulations in final form. Additionally, OFHEO finds that there is Start Printed Page 81327good cause for having this rule take effective immediately pursuant to 5 U.S.C. 553(d).

Start List of Subjects

List of Subjects in 12 CFR Parts 1700 Through 1790

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Accordingly, for the reasons stated in the preamble, OFHEO is amending 12 CFR chapter XVII as follows:

End Amendment Part Start Amendment Part

1. Revise the heading of subchapter A to read “OFHEO Organization and Functions.”

End Amendment Part Start Amendment Part

2. Redesignate part 1720 as new part 1702.

End Amendment Part Start Part

PART 1702—IMPLEMENTATION OF THE PRIVACY ACT OF 1974

End Part Start Amendment Part

3. The authority citation for new part 1702 continues to read as follows:

End Amendment Part Start Authority

Authority: 5 U.S.C. 552a; 12 U.S.C. 4513(b).

End Authority Start Amendment Part

4. Amend cross-references in new part 1702 as indicated in the table below. For each new designated section indicated in the left column, remove the cross-reference indicated in the middle column and, in its place, add the new cross-reference indicated in the right column:

End Amendment Part
New SectionRemove Cross-ReferenceAdd Cross-Reference
1702.1(a)part 1720 (twice)part 1702 (twice)
1702.2part 1720part 1702
1702.4(a)§ 1720.3(b)(3)§ 1702.3(b)(3)
1702.4(a)(2)§ 1720.5§ 1702.5
1702.4(b)(1)§ 1720.3(b)(3)§ 1702.3(b)(3)
1702.4(d)§ 1720.9§ 1702.9
1702.7(b)§ 1720.6§ 1702.6
1702.8(b)§ 1720.12(b)§ 1702.12(b)
1702.8(c)§ 1720.9§ 1702.9
1702.9(a)§ 1720.3(b)(3)§ 1702.3(b)(3)
1702.9(a)§ 1720.7§ 1702.7
1702.10(b)§ 1720.12(b)§ 1702.12(b)
1702.10(d)(2)§ 1720.12(b)§ 1702.12(b)
1702.11(a)(4)§ 1720.2§ 1702.2
1702.11(b)§ 1720.6§ 1702.6
1702.12(a)§ 1720.11§ 1702.11
1702.12(a)§ 1720.11(a)(3)§ 1702.11(a)(3)
1702.13(a)§ 1720.12(a)§ 1702.12(a)
1702.13(a)§ 1720.6§ 1702.6
1702.13(b)§ 1720.12§ 1702.12
1702.13(b)§ 1720.11(a)(6)(v)§ 1702.11(a)(6)(v)
Start Amendment Part

5. Redesignate part 1710 as new part 1703 and revise the heading to read as follows:

End Amendment Part Start Part

PART 1703—RELEASE OF INFORMATION

End Part Start Amendment Part

6. The authority citation for new part 1703 continues to read as follows:

End Amendment Part Start Authority

Authority: 5 U.S.C. 301, 552; 12 U.S.C. 4513, 4522, 4639; E.O. 12600; 3 CFR, 1987 Comp., p. 235.

End Authority Start Amendment Part

7. Amend cross-references in new part 1703 as indicated in the table below. For each new designated section indicated in the left column, remove the cross-reference indicated in the middle column and, in its place, add the new cross-reference indicated in the right column:

End Amendment Part
New SectionRemove Cross-ReferenceAdd Cross-Reference
1703.1§ 1710.2§ 1710.2
1703.1part 1710part 1703
1703.12(a)(1)§ 1710.9§ 1703.9
1703.12(b)§ 1710.11(b)§ 1703.11(b)
1703.13(a)§ 1710.17(a)§ 1703.17(a)
1703.15(b)(2)§ 1710.11(b)§ 1703.11(b)
1703.15(b)(4)§ 1710.16§ 1703.16
1703.16(b)§ 1710.13§ 1703.13
1703.16(b)§ 1710.17(b)§ 1703.17(b)
1703.17(b)§ 1710.16§ 1703.16
1703.18(b)(1)§ 1710.11(b)(4)§ 1703.11(b)(4)
1703.18(c)§ 1710.11(b)(4)§ 1703.11(b)(4)
1703.18(d)(2)§ 1710.11(b)(4)§ 1703.11(b)(4)
1703.18(e)(1)§ 1710.11(b)(4)§ 1703.11(b)(4)
1703.21(b)§ 1710.22(b)(1)(i)§ 1703.22(b)(1)(i)
1703.21(b)§ 1710.22(b)(1)(ii)§ 1703.22(b)(1)(ii)
1703.22(a)§ 1710.23§ 1703.23
1703.23(a)§ 1710.24§ 1703.24
1703.23(b)§ 1710.22§ 1703.22
1703.23(e)§ 1710.22§ 1703.22
1703.23(g)§ 1710.22§ 1703.22
1703.24(a)§ 1710.23§ 1703.23
1703.24(c)(5)§ 1710.16§ 1703.16
1703.34(c)§ 1710.33§ 1703.33
1703.38(a)§ 1710.22(b)(1)(i)§ 1703.22(b)(1)(i)
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1703.40(b)§ 1710.33§ 1703.33
1703.40(b)§ 1710.34§ 1703.34
1703.40(b)§ 1710.37§ 1703.37
Start Amendment Part

8. Redesignate part 1730 as new part 1704.

End Amendment Part Start Part

PART 1704—DEBT COLLECTION

End Part Start Amendment Part

9. The authority citation for new part 1704 continues to read as follows:

End Amendment Part Start Authority

Authority: 5 U.S.C. 5514; 26 U.S.C. 6402(d); 31 U.S.C. 3701-3720A.

End Authority Start Amendment Part

10. Amend cross-references in new part 1704 as indicated in the table below. For each new designated section indicated in the left column, remove the cross-reference indicated in the middle column and, in its place, add the new cross-reference indicated in the right column:

End Amendment Part
New SectionRemove Cross-ReferenceAdd Cross-Reference
1704.1(a)part 1730part 1704
1704.1(b)(1)part 1730part 1704
1704.1(b)(2)part 1730part 1704
1704.1(b)(3)part 1730part 1704
1704.1(b)(4)part 1730 (twice)part 1704 (twice)
1704.2part 1730 (twice)part 1704 (twice)
1704.2(c)part 1730part 1704
1704.3(a)part 1730 (twice)part 1704 (twice)
1704.21(b)(9)§ 1730.23§ 1704.23
1704.21(b)(12)(ii)U.S.C. 3729-3731U.S.C. 3729—3731
1704.23(a)(4)§ 1730.21(b)§ 1704.21(b)
1704.29(a)(1)(ii)§ 1730.21§ 1704.21
1704.29(a)(1)(iii)§ 1730.23(b)§ 1704.23(b)
1704.29(a)(1)(iv)§ 1730.24(b)§ 1704.24(b)
1704.29(a)(2)§§ 1730.24—1730.26§§ 1704.24—1704.26
1704.29(a)(2)(iii)§ § 1730.24—1730.26§§ 1704.24-1704.26
1704.32(a)when—when—
1704.41§ 1730.42 (three times)§ 1704.42 (three times)
1704.42§ 1730.41§ 1704.41
1704.51(c)§ 1730.53§ 1704.53
Start Amendment Part

11. Redesignate part 1735 as new part 1705.

End Amendment Part Start Part

PART 1705-IMPLEMENTATION OF THE EQUAL ACCESS TO JUSTICE ACT

End Part Start Amendment Part

12. The authority citation for new part 1705 continues to read as follows:

End Amendment Part Start Authority

Authority: 5 U.S.C. 504(c)(1).

End Authority Start Amendment Part

13. Amend cross-references in new part 1705 as indicated in the table below. For each new designated section indicated in the left column, remove the cross-reference indicated in the middle column and, in its place, add the new cross-reference indicated in the right column:

End Amendment Part
New SectionRemove Cross-ReferenceAdd Cross-Reference
1705.3(a)§ 1735.4(a)§ 1705.4(a)
1705.3(b)(1)§ 1735.5(b)§ 1705.5(b)
1705.5(a)§ 1735.6§ 1705.6
1705.10(a)§ 1735.4(a)§ 1705.4(a)
1705.10(a)§ 1735.4(b)§ 1705.4(b)
1705.10(a)(3)§ 1735.12§ 1705.12
1705.10(b)§ 1735.4(a)§ 1705.4(a)
1705.10(c)§ 1735.4(b)§ 1705.4(b)
1705.11(a)§ 1735.10(c)(4)(i)§ 1705.10(c)(4)(i)
1705.21(a)§ 1735.25§ 1705.25
1705.22§ 1735.25§ 1705.25
1705.25§ 1735.27§ 1705.27
1705.26(a)§ 1735.25§ 1705.25
1705.26(b)§ 1735.27§ 1705.27
1705.26(d)§ 1735.4(a)§ 1705.4(a)
1705.26(e)§ 1735.4(b)§ 1705.4(b)
1705.27§ 1735.26§ 1705.26
1705.27§ 1735.25§ 1705.25
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14. Add and reserve subchapter heading B after new part 1705 as follows:

End Amendment Part

Subchapter B—[Reserved]

Start Amendment Part

15. Add subchapter heading C before part 1750 as follows:

End Amendment Part

Subchapter C—Safety and Soundness

Start Amendment Part

16. Add subchapter heading D before part 1780 as follows:

End Amendment Part

Subchapter D—Rules of Practice and Procedure

Start Signature

Dated: December 19, 2000.

Armando Falcon, Jr.

Director, Office of Federal Housing Enterprise Oversight.

End Signature End Supplemental Information

[FR Doc. 00-32779 Filed 12-22-00; 8:45 am]

BILLING CODE 4220-01-U