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Prior Approval for Enterprise Products

Open Date:
Open for comment 7/2/2009
Deadline:
All comments are due by 8/31/2009
Type:
Interim Final Rule
Number:
RIN-2590-AA17
Group:
Supervision and Regulation; Office of Finance; Freddie Mac; Fannie Mae; Regulation; Policies, Program & Research
Fannie Mae; Freddie Mac; Other
Document Number:
E9-15304
CFR:
12 CFR 1253
CFR Description:
 
Federal Register Publish Date:
7/2/2009
Federal Register Citation:
View Document:
 
Contact Information:

​Carol Connelly, (202) 414-8910 (not a toll-free number), e-mail: carol.connelly@fhfa.gov, Office of Supervision—Office of Supervision Infrastructure; or Ming-Yuen Meyer-Fong, (202) 414-3798 (not a toll-free number), e-mail: ming-yuen.meyer-fong@fhfa.gov, Office of General Counsel, Federal Housing Finance Agency, 1700 G Street, NW., Washington, DC 20552. The telephone number for the Telecommunications Device for the Deaf is: (800) 877-8339.

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SUMMARY: The Federal Housing Finance Agency (FHFA or Agency) is promulgating and seeking comment on an interim final regulation to implement section 1321 of the Federal Housing Enterprises Financial Safety and Soundness Act of 1992, as amended by section 1123 of the Housing and Economic Recovery Act of 2008. The regulation establishes a process for the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac) (collectively, the Enterprises) to obtain prior approval from the FHFA Director for a new product and provide prior notice to the Director of a new activity. Specifically, the interim final regulation implements section 1321 and is designed to ensure that the FHFA Director has the opportunity to determine prior to an Enterprise commencing a new activity whether the new activity is a new product, and if it is a new product, to determine whether the new product is authorized by the Enterprise’s charter, is in the public interest, and is consistent with the safety and soundness of the Enterprise or the mortgage finance or financial system. FHFA invites public comment on all aspects of the regulation.

DATES:

Effective Date: July 2, 2009.

Comment Date: FHFA will accept written comments on the interim final regulation on or before August 31, 2009.

ADDRESSES: Submit comments to FHFA using any one of the following methods:

  • E-mail: regcomments@fhfa.gov. Please include "Public Comment—RIN 2590-AA17 (Prior Approval for Enterprise Products)" in the subject line of the message.

  • Mail/Hand Delivery: Federal Housing Finance Agency, 1700 G Street, NW., Washington, DC 20552, Attention: Public Comment—RIN 2590-AA17 (Prior Approval for Enterprise Products). The package should be logged at the Guard Desk, First Floor, on business days between 9 a.m. and 5 p.m.

  • Federal eRulemaking: www.regulations.gov. Follow the instructions for submitting comments. If you submit your comment to the Federal eRulemaking Portal, please also send it by e-mail to FHFA at regcomments@fhfa.gov to ensure timely receipt by the Agency. Include the following information in the subject line of your submission: "Public Comment—RIN 2590-AA17 (Prior Approval for Enterprise Products)."   

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 www.fhfa.gov/SupervisionRegulation/RegulationFederalRegister/Pages/Open-for-Comment.aspx​.

FOR FURTHER INFORMATION CONTACT: Carol Connelly, (202) 414-8910 (not a toll-free number), e-mail: carol.connelly@fhfa.gov, Office of Supervision—Office of Supervision Infrastructure; or Ming-Yuen Meyer-Fong, (202) 414-3798 (not a toll-free number), e-mail: ming-yuen.meyer-fong@fhfa.gov, Office of General Counsel, Federal Housing Finance Agency, 1700 G Street, NW., Washington, DC 20552. The telephone number for the Telecommunications Device for the Deaf is: (800) 877-8339.

Submit a Comment
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