[Federal Register Volume 65, Number 248 (Tuesday, December 26, 2000)]
[Rules and Regulations]
[Pages 81326-81329]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 00-32779]


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DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT

Office of Federal Housing Enterprise Oversight

12 CFR Chapter XVII

RIN 2550-AA14


Reorganization of the Office of Federal Housing Enterprise 
Oversight Regulations

AGENCY: Office of Federal Housing Enterprise Oversight, HUD.

ACTION: Final rule.

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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.

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.

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 part                     Subject matter       Old part
------------------------------------------------------------------------
1700................................  Organization and              1700
                                       Functions.
1702................................  Privacy Act of 1974....       1720
1703................................  Release of Information.       1710
1704................................  Debt Collection........       1730
1705................................  Equal Access to Justice       1735
                                       Act Amendment.
------------------------------------------------------------------------

Subchapter B--[Reserved]

Subchapter C--Safety and Soundness

------------------------------------------------------------------------
                Part                       Subject matter         Part
------------------------------------------------------------------------
1750................................  Capital................       1750
------------------------------------------------------------------------

Subchapter D--Rules of Practice and Procedure

------------------------------------------------------------------------
                Part                       Subject matter         Part
------------------------------------------------------------------------
1780................................  Rules of Practice and         1780
                                       Procedure.
------------------------------------------------------------------------

    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

[[Page 81327]]

good cause for having this rule take effective immediately pursuant to 
5 U.S.C. 553(d).

List of Subjects in 12 CFR Parts 1700 Through 1790

    Organization and functions (Government agencies).

    Accordingly, for the reasons stated in the preamble, OFHEO is 
amending 12 CFR chapter XVII as follows:
    1. Revise the heading of subchapter A to read ``OFHEO Organization 
and Functions.''
    2. Redesignate part 1720 as new part 1702.

PART 1702--IMPLEMENTATION OF THE PRIVACY ACT OF 1974

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

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

    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:

------------------------------------------------------------------------
                                  Remove Cross-
         New Section                Reference        Add Cross-Reference
------------------------------------------------------------------------
1702.1(a)...................  part 1720 (twice)...  part 1702 (twice)
1702.2......................  part 1720...........  part 1702
1702.4(a)...................  Sec.  1720.3(b)(3)..  Sec.  1702.3(b)(3)
1702.4(a)(2)................  Sec.  1720.5........  Sec.  1702.5
1702.4(b)(1)................  Sec.  1720.3(b)(3)..  Sec.  1702.3(b)(3)
1702.4(d)...................  Sec.  1720.9........  Sec.  1702.9
1702.7(b)...................  Sec.  1720.6........  Sec.  1702.6
1702.8(b)...................  Sec.  1720.12(b)....  Sec.  1702.12(b)
1702.8(c)...................  Sec.  1720.9........  Sec.  1702.9
1702.9(a)...................  Sec.  1720.3(b)(3)..  Sec.  1702.3(b)(3)
1702.9(a)...................  Sec.  1720.7........  Sec.  1702.7
1702.10(b)..................  Sec.  1720.12(b)....  Sec.  1702.12(b)
1702.10(d)(2)...............  Sec.  1720.12(b)....  Sec.  1702.12(b)
1702.11(a)(4)...............  Sec.  1720.2........  Sec.  1702.2
1702.11(b)..................  Sec.  1720.6........  Sec.  1702.6
1702.12(a)..................  Sec.  1720.11.......  Sec.  1702.11
1702.12(a)..................  Sec.  1720.11(a)(3).  Sec.  1702.11(a)(3)
1702.13(a)..................  Sec.  1720.12(a)....  Sec.  1702.12(a)
1702.13(a)..................  Sec.  1720.6........  Sec.  1702.6
1702.13(b)..................  Sec.  1720.12.......  Sec.  1702.12
1702.13(b)..................  Sec.  1720.11(a)(6)(  Sec.  1702.11(a)(6)(
                               v).                   v)
------------------------------------------------------------------------


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

PART 1703--RELEASE OF INFORMATION

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

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

    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:

------------------------------------------------------------------------
                                  Remove Cross-
         New Section                Reference        Add Cross-Reference
------------------------------------------------------------------------
1703.1......................  Sec.  1710.2........  Sec.  1710.2
1703.1......................  part 1710...........  part 1703
1703.12(a)(1)...............  Sec.  1710.9........  Sec.  1703.9
1703.12(b)..................  Sec.  1710.11(b)....  Sec.  1703.11(b)
1703.13(a)..................  Sec.  1710.17(a)....  Sec.  1703.17(a)
1703.15(b)(2)...............  Sec.  1710.11(b)....  Sec.  1703.11(b)
1703.15(b)(4)...............  Sec.  1710.16.......  Sec.  1703.16
1703.16(b)..................  Sec.  1710.13.......  Sec.  1703.13
1703.16(b)..................  Sec.  1710.17(b)....  Sec.  1703.17(b)
1703.17(b)..................  Sec.  1710.16.......  Sec.  1703.16
1703.18(b)(1)...............  Sec.  1710.11(b)(4).  Sec.  1703.11(b)(4)
1703.18(c)..................  Sec.  1710.11(b)(4).  Sec.  1703.11(b)(4)
1703.18(d)(2)...............  Sec.  1710.11(b)(4).  Sec.  1703.11(b)(4)
1703.18(e)(1)...............  Sec.  1710.11(b)(4).  Sec.  1703.11(b)(4)
1703.21(b)..................  Sec.  1710.22(b)(1)(  Sec.  1703.22(b)(1)(
                               i).                   i)
1703.21(b)..................  Sec.  1710.22(b)(1)(  Sec.  1703.22(b)(1)(
                               ii).                  ii)
1703.22(a)..................  Sec.  1710.23.......  Sec.  1703.23
1703.23(a)..................  Sec.  1710.24.......  Sec.  1703.24
1703.23(b)..................  Sec.  1710.22.......  Sec.  1703.22
1703.23(e)..................  Sec.  1710.22.......  Sec.  1703.22
1703.23(g)..................  Sec.  1710.22.......  Sec.  1703.22
1703.24(a)..................  Sec.  1710.23.......  Sec.  1703.23
1703.24(c)(5)...............  Sec.  1710.16.......  Sec.  1703.16
1703.34(c)..................  Sec.  1710.33.......  Sec.  1703.33
1703.38(a)..................  Sec.  1710.22(b)(1)(  Sec.  1703.22(b)(1)(
                               i).                   i)

[[Page 81328]]

 
1703.40(b)..................  Sec.  1710.33.......  Sec.  1703.33
1703.40(b)..................  Sec.  1710.34.......  Sec.  1703.34
1703.40(b)..................  Sec.  1710.37.......  Sec.  1703.37
------------------------------------------------------------------------


    8. Redesignate part 1730 as new part 1704.

PART 1704--DEBT COLLECTION

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

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

    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:

------------------------------------------------------------------------
                                  Remove Cross-
         New Section                Reference        Add Cross-Reference
------------------------------------------------------------------------
1704.1(a)...................  part 1730...........  part 1704
1704.1(b)(1)................  part 1730...........  part 1704
1704.1(b)(2)................  part 1730...........  part 1704
1704.1(b)(3)................  part 1730...........  part 1704
1704.1(b)(4)................  part 1730 (twice)...  part 1704 (twice)
1704.2......................  part 1730 (twice)...  part 1704 (twice)
1704.2(c)...................  part 1730...........  part 1704
1704.3(a)...................  part 1730 (twice)...  part 1704 (twice)
1704.21(b)(9)...............  Sec.  1730.23.......  Sec.  1704.23
1704.21(b)(12)(ii)..........  U.S.C. 3729-3731....  U.S.C. 3729--3731
1704.23(a)(4)...............  Sec.  1730.21(b)....  Sec.  1704.21(b)
1704.29(a)(1)(ii)...........  Sec.  1730.21.......  Sec.  1704.21
1704.29(a)(1)(iii)..........  Sec.  1730.23(b)....  Sec.  1704.23(b)
1704.29(a)(1)(iv)...........  Sec.  1730.24(b)....  Sec.  1704.24(b)
1704.29(a)(2)...............  Secs.  1730.24--1730  Secs.  1704.24--1704
                               .26.                  .26
1704.29(a)(2)(iii)..........  Sec.  Sec.  1730.24-  Secs.  1704.24-1704.
                               -1730.26.             26
1704.32(a)..................  when--..............  when--
1704.41.....................  Sec.  1730.42 (three  Sec.  1704.42 (three
                               times).               times)
1704.42.....................  Sec.  1730.41.......  Sec.  1704.41
1704.51(c)..................  Sec.  1730.53.......  Sec.  1704.53
------------------------------------------------------------------------


    11. Redesignate part 1735 as new part 1705.

PART 1705-IMPLEMENTATION OF THE EQUAL ACCESS TO JUSTICE ACT

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

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

    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:

------------------------------------------------------------------------
                                  Remove Cross-
         New Section                Reference        Add Cross-Reference
------------------------------------------------------------------------
1705.3(a)...................  Sec.  1735.4(a).....  Sec.  1705.4(a)
1705.3(b)(1)................  Sec.  1735.5(b).....  Sec.  1705.5(b)
1705.5(a)...................  Sec.  1735.6........  Sec.  1705.6
1705.10(a)..................  Sec.  1735.4(a).....  Sec.  1705.4(a)
1705.10(a)..................  Sec.  1735.4(b).....  Sec.  1705.4(b)
1705.10(a)(3)...............  Sec.  1735.12.......  Sec.  1705.12
1705.10(b)..................  Sec.  1735.4(a).....  Sec.  1705.4(a)
1705.10(c)..................  Sec.  1735.4(b).....  Sec.  1705.4(b)
1705.11(a)..................  Sec.  1735.10(c)(4)(  Sec.  1705.10(c)(4)(
                               i).                   i)
1705.21(a)..................  Sec.  1735.25.......  Sec.  1705.25
1705.22.....................  Sec.  1735.25.......  Sec.  1705.25
1705.25.....................  Sec.  1735.27.......  Sec.  1705.27
1705.26(a)..................  Sec.  1735.25.......  Sec.  1705.25
1705.26(b)..................  Sec.  1735.27.......  Sec.  1705.27
1705.26(d)..................  Sec.  1735.4(a).....  Sec.  1705.4(a)
1705.26(e)..................  Sec.  1735.4(b).....  Sec.  1705.4(b)
1705.27.....................  Sec.  1735.26.......  Sec.  1705.26
1705.27.....................  Sec.  1735.25.......  Sec.  1705.25
------------------------------------------------------------------------


[[Page 81329]]

    14. Add and reserve subchapter heading B after new part 1705 as 
follows:

Subchapter B--[Reserved]

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

Subchapter C--Safety and Soundness

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

Subchapter D--Rules of Practice and Procedure

    Dated: December 19, 2000.
Armando Falcon, Jr.
Director, Office of Federal Housing Enterprise Oversight.
[FR Doc. 00-32779 Filed 12-22-00; 8:45 am]
BILLING CODE 4220-01-U