60-Day PRA Notice, 81 FR 62889 (Sept. 13, 2016)

NSMO SS#04--60-Day Notice, 81 FR 62889 (Sept. 13, 2016).pdf

National Survey of Mortgage Originations

60-Day PRA Notice, 81 FR 62889 (Sept. 13, 2016)

OMB: 2590-0012

⚠️ Notice: This form may be outdated. More recent filings and information on OMB 2590-0012 can be found here:

Document [pdf]

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Federal Register / Vol. 81, No. 177 / Tuesday, September 13, 2016 / Notices
FEDERAL ELECTION COMMISSION
Sunshine Act Meetings
Federal Election Commission
& TIME: Thursday, September 15,
2016 at 10:00 a.m.
PLACE: 999 E Street NW., Washington,
DC (Ninth Floor).
STATUS: This meeting will be open to
the public.
ITEMS TO BE DISCUSSED:
Correction and Approval of Minutes for
July 14, 2016
Correction and Approval of Minutes for
August 16, 2016
REG 2014–10: Implementing the
Consolidated and Further Continuing
Appropriations Act, 2015
REG 2016–03: Political Party Rules
REG 2013–01: Draft Notice of Proposed
Rulemaking on Technological
Modernization
Request for Guidance on Interpretation
of Conciliation Agreement in MUR
5635 (The Viguerie Company, et al.)
Proposal to Rescind Advisory Opinion
2006–15 (TransCanada)
Audit Division Recommendation
Memorandum on the Utah Republican
Party (URP) (A13–06)
Proposal to Launch Rulemaking to
Ensure that U.S. Political Spending is
Free from Foreign Influence
Management and Administrative
Matters
Individuals who plan to attend and
require special assistance, such as sign
language interpretation or other
reasonable accommodations, should
contact Shawn Woodhead Werth,
Secretary and Clerk, at (202)694–1040,
at least 72 hours prior to the meeting
date.
PERSON TO CONTACT FOR INFORMATION:
Judith Ingram, Press Officer, Telephone:
(202) 694–1220.
AGENCY:
DATE

Shawn Woodhead Werth,
Secretary and Clerk of the Commission.
[FR Doc. 2016–22039 Filed 9–9–16; 11:15 am]
BILLING CODE 6715–01–P

FEDERAL HOUSING FINANCE
AGENCY
[No. 2016–N–06]

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Proposed Collection; Comment
Request
Federal Housing Finance
Agency.
ACTION: 60-day notice of submission of
information collection for approval from
Office of Management and Budget.
AGENCY:

In accordance with the
requirements of the Paperwork

SUMMARY:

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Reduction Act of 1995, the Federal
Housing Finance Agency (FHFA or the
Agency) is seeking public comments
concerning the currently-approved
information collection known as the
‘‘National Survey of Mortgage
Originations’’ (NSMO), which has been
assigned control number 2590–0012 by
the Office of Management and Budget
(OMB) (the collection was previously
known as the ‘‘National Survey of
Mortgage Borrowers’’). FHFA intends to
submit the information collection to
OMB for review and approval of a threeyear extension of the control number,
which is due to expire on December 31,
2016.
DATES: Interested persons may submit
comments on or before November 14,
2016.
ADDRESSES: Submit comments to FHFA,
identified by ‘‘Proposed Collection;
Comment Request: ‘National Survey of
Mortgage Originations, (No. 2016–N–
06)’ ’’ by any of the following methods:
• Agency Web site: www.fhfa.gov/
open-for-comment-or-input.
• Federal eRulemaking Portal: http://
www.regulations.gov. Follow the
instructions for submitting comments. If
you submit your comment to the
Federal eRulemaking Portal, please also
send it by email to FHFA at
[email protected] to ensure
timely receipt by the agency.
• Mail/Hand Delivery: Federal
Housing Finance Agency, Eighth Floor,
400 Seventh Street SW., Washington,
DC 20219, ATTENTION: Proposed
Collection; Comment Request: ‘‘National
Survey of Mortgage Originations, (No.
2016–N–06).’’
We will post all public comments we
receive without change, including any
personal information you provide, such
as your name and address, email
address, and telephone number, on the
FHFA Web site at http://www.fhfa.gov.
In addition, copies of all comments
received will be available for
examination by the public on business
days between the hours of 10 a.m. and
3 p.m., at the Federal Housing Finance
Agency, Eighth Floor, 400 Seventh
Street SW., Washington, DC 20219. To
make an appointment to inspect
comments, please call the Office of
General Counsel at (202) 649–3804.
FOR FURTHER INFORMATION CONTACT:
Forrest Pafenberg, Supervisory
Economist, Office of the Chief Operating
Officer, by email at Forrest.Pafenberg@
fhfa.gov or by telephone at (202) 649–
3129; or Eric Raudenbush, Associate
General Counsel, by email at
[email protected] or by
telephone at (202) 649–3084, (these are
not toll-free numbers), Federal Housing

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62889

Finance Agency, 400 Seventh Street
SW., Washington, DC 20219. The
Telecommunications Device for the
Hearing Impaired is (800) 877–8339.
SUPPLEMENTARY INFORMATION:
A. Need For and Use of the Information
Collection
The NSMO is a recurring quarterly
survey of individuals who have recently
obtained a loan secured by a first
mortgage on single-family residential
property. The survey questionnaire is
sent to a representative sample of
approximately 6,000 recent mortgage
borrowers each calendar quarter and
typically consists of between 90 and 95
multiple choice and short answer
questions designed to obtain
information about borrowers’
experiences in choosing and in taking
out a mortgage. The questionnaire may
be completed either on paper or
electronically online, where it is
available in both English and Spanish.
A copy of the most recent NSMO
questionnaire appears at the end of this
document.1
The NSMO is one component of a
larger project, known as the ‘‘National
Mortgage Database’’ (NMDB) Project,
which is a multi-year joint effort of
FHFA and the Consumer Financial
Protection Bureau (CFPB) (although the
NSMO is sponsored only by FHFA). The
NMDB Project was created, in part, to
satisfy the Congressionally-mandated
requirements of section 1324(c) of the
Federal Housing Enterprises Financial
Safety and Soundness Act of 1992, as
amended by the Housing and Economic
Recovery Act of 2008 (Safety and
Soundness Act).2 Section 1324(c)
requires that FHFA conduct a monthly
survey to collect data on the
characteristics of individual prime and
subprime mortgages, and on the
borrowers and properties associated
with those mortgages, in order to enable
it to prepare a detailed annual report on
the mortgage market activities of the
Federal National Mortgage Association
(Fannie Mae) and the Federal Home
Loan Mortgage Corporation (Freddie
Mac) for review by the appropriate
Congressional oversight committees.
Section 1324(c) also authorizes and
requires FHFA to compile a database of
timely and otherwise unavailable
residential mortgage market information
to be made available to the public.
In order to fulfill those and other
statutory mandates, as well as to
1 Fully formatted copies of the questionnaire in
both English and Spanish can be accessed online
at: http://www.fhfa.gov/Homeownersbuyer/Pages/
National-Survey-of-Mortgage-Originations.aspx.
2 12 U.S.C. 4544(c).

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Federal Register / Vol. 81, No. 177 / Tuesday, September 13, 2016 / Notices

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support policymaking and research
efforts, FHFA and CFPB committed in
July 2012 to fund, build and manage the
NMDB Project. The core data in the
NMDB are drawn from a random 1-in20 sample of all closed-end first-lien
mortgages outstanding at any time
between January 1998 and the present
in the files of Experian, one of the three
national credit repositories. A random
1-in-20 sample of mortgages newly
reported to Experian is added to the
NMDB each quarter. The NMDB also
draws information on mortgages in the
NMDB datasets from other existing
sources, including the Home Mortgage
Disclosure Act (HMDA) database that is
maintained by the Federal Financial
Institutions Examination Council
(FFIEC), property valuation models,
data files maintained by Fannie Mae
and Freddie Mac and by federal
agencies, and the NSMO and other
surveys.3 When fully complete, the
NMDB will be a de-identified loan-level
database of closed-end first-lien
residential mortgages that: Is
representative of the market as a whole;
contains detailed, loan-level
information on the terms and
performance of mortgages, as well as
characteristics of the associated
borrowers and properties; is continually
updated; has an historical component
dating back to 1998; and provides a
sampling frame for surveys to collect
additional information.
FHFA views the NMDB Project as a
whole, including the NSMO, as the
monthly ‘‘survey’’ required by section
1324(c) of the Safety and Soundness
Act. Core inputs to the NMDB, such as
a regular refresh of the credit repository
data, occur monthly, though NSMO
itself does not. In combination with the
other information in the NMDB, the
information obtained through the
NSMO is also used: (1) To prepare the
report to Congress on the mortgage
market activities of Fannie Mae and
Freddie Mac that FHFA is required to
submit under section 1324(c); (2) for
research and analysis to support
policymaking by FHFA and other
federal regulators; and (3) to provide a
resource for research and analysis by
academics and other interested parties
outside of the government. Generally,
the information collected will enable
3 In addition to the NSMO, FHFA has recently
begun to collect data through a new survey called
the American Survey of Mortgage Borrowers
(ASMB). While the NSMO solicits information
about the experiences of borrowers who have
recently obtained a mortgage, the ASMB solicits
information on borrowers’ experience with
maintaining their existing mortgages. OMB has
cleared the ASMB under the PRA and assigned it
control no. 2590–0015, which expires on July 31,
2019.

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regulators and other interested parties to
more effectively monitor emerging
trends in the mortgage origination
process throughout the United States
and will allow them to determine more
quickly and accurately when the
mortgage origination process is
changing in a way that is unfavorable to
borrowers and consumers.
In particular, the NSMO provides
timely information on newly-originated
mortgages and those borrowing that is
not available from existing sources,
including: The range of nontraditional
and subprime mortgage products being
offered, the methods by which these
mortgages are being marketed, and the
characteristics of borrowers for these
types of loans. The survey is critical to
ensuring that the NMDB contains
complete and timely information on the
characteristics of individual subprime
and nontraditional mortgages and on the
characteristics of borrowers on such
mortgages, including information on the
creditworthiness of those borrowers and
information sufficient to determine
whether those borrowers would have
qualified for prime lending. The NSMO
questionnaire is designed to elicit this
information directly from borrowers,
who are likely to be the most reliable
and accessible—and, in some cases, the
only—source for this information. The
questionnaire focuses on topics such as
mortgage shopping behavior, mortgage
closing experiences, and other
information that cannot be obtained
from any other source, such as
expectations regarding house price
appreciation, critical household
financial events, and life events such as
unemployment, large medical expenses,
or divorce. In general, borrowers are not
asked to provide information about
mortgage terms in the questionnaire
since these fields are available in the
Experian data. However, the survey
collects a limited amount of information
on each respondent’s mortgage to verify
that the credit repository records and
survey responses pertain to the same
mortgage.
FHFA is also seeking clearance to pretest the survey questionnaire and related
materials from time to time through the
use of cognitive testing. FHFA will use
information collected through the
cognitive testing to assist in drafting and
modifying the survey questions and
instructions, as well as the related
communications, to read in the way that
will be most readily understood by the
survey respondents and that will be
most likely to elicit usable responses.
Such information will also be used help
the Agency decide on how best to
organize and format the survey
questionnaires.

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The OMB control number for the
information collection is 2590–0012.
The current clearance for the
information collection expires on
December 31, 2016.
B. Burden Estimate
FHFA has analyzed the hour burden
on members of the public associated
with conducting the survey (12,000
hours) and with pre-testing the survey
materials (30 hours) and estimates the
total annual hour burden imposed on
the public by this information collection
to be 12,030 hours. The estimate for
each phase of the collection was
calculated as follows:
I. Conducting the Survey
FHFA estimates that the NSMO
questionnaire will be sent to 24,000
recipients annually (6,000 recipients per
quarterly survey × 4 calendar quarters).
Although, based on historical
experience, the Agency expects that
only 30 to 35 percent of those surveys
will be returned, it has assumed that all
of the surveys will be returned for
purposes of this burden calculation.
Based on the reported experience of
respondents to prior NSMO
questionnaires, FHFA estimates that it
will take each respondent 30 minutes to
complete the survey, including the
gathering of necessary materials to
respond to the questions. This results in
a total annual burden estimate of 12,000
hours for the survey phase of this
collection (24,000 respondents × 30
minutes per respondent = 12,000 hours
annually).
II. Pre-Testing the Materials
FHFA estimates that it will pre-test
the survey materials with 30 cognitive
testing participants annually. The
estimated participation time for each
participant is one hour, resulting in a
total annual burden estimate of 30 hours
for the pre-testing phase of the
collection (30 participants × 1 hour per
participant = 30 hours annually).
C. Comment Request
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
FHFA’s 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 on survey
respondents, including through the use
of automated collection techniques or
other forms of information technology.

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Federal Register / Vol. 81, No. 177 / Tuesday, September 13, 2016 / Notices
Dated: September 7, 2016.
Kevin Winkler,
Chief Information Officer, Federal Housing
Finance Agency.

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BILLING CODE 8070–01–P

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62891

62892

Federal Register / Vol. 81, No. 177 / Tuesday, September 13, 2016 / Notices
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services.

mail

take the survey online
GOTO~~~~~~~

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with your unun,, .. survey

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62893

Privacy Act Notice: In accordance with the Privacy Act, as amended (5 U.S.C. § 552a), the following notice is provided. The
information requested on this Survey is collected pursuant to 12 U.S.C. 4544 for the purposes of gathering information for
the National Mortgage Database. Routine uses which may be made of the collected information can be found in the Federal
Housing Finance Agency's System of Records Notice (SORN) FHFA-21 National Mortgage Database. Providing the requested
information is voluntary. Submission of the survey authorizes FHFA to collect the information provided and to disclose it as
set forth in the referenced SORN.

Paperwork Reduction Act Statement: Notwithstanding any other provision of the law, no person is required to respond to,
nor shall any person be subject to a penalty for failure to comply with, a collection of information subject to the
requirements of the Paperwork Reduction Act, unless that collection of information displays a currently valid OMB Control
Number.

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OMB No. 2590-0012
Expires 12/3112016

62894

Federal Register / Vol. 81, No. 177 / Tuesday, September 13, 2016 / Notices

5.
1. \Yit.bin tilt\ past 18 months or: so, did you.
out or
for a mo:rtgageloanincluding any

began the prot~'~: or getting this
mortgage, how
W(Tl~ you about
qualifying for tt ....,,.,..""''''

nll
6. How firm an idea did you (and
lun'eabout
Firm

7. How umcll :did you .use each oftbe t'ollowing
Sotll'Cl~!i to

or
N'ol

0
0

0
0
0
0
0

beganthtl process of getting this
"~"'.-h'"'"'., how familiar
et)··si~me~rs) wiUt. each

( ajnd any
of the following'?

0
'l'hc mortgage proccih~

0
10. How many ditlerent hmder~mortgage brokers
did. ynu seriously con;~~ider before choosing
where (() apply for tltis mortgage?

5 or more

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~II

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The nw:ney needed at

62895

Federal Register / Vol. 81, No. 177 / Tuesday, September 13, 2016 / Notices

"--

determ.ining the. mortgage you tookout?
Not
Impottallt lmPQrtant

Osoc~~

"'V'"

Lower interest rate
0
Lower APR (Annua!PercentageRate) 0
Lower closing fees
D
Lower down payment
0
Lower monthly payment
D
An interest rate fixed for the life
of the loan
0
A term of 30 years
D
No mortgage it1sur.a1tce

12. Did you apply to more. than one lender/
mortgage broker for any of the following
. reasons.'!
Searching for better loan terms
Concern over qualifying for a loan
Information learned from the
"Loan Estimate"
Turned down on earlier application

Yes

0
0

Easy to understand
Valuable illfonnation

Not
Jmportant Important

Yes

D
0

Yes

0
0

19. In.the processofgett~ng this mortgage from
youdcndcr/mortgage broker, did you •..

Yes

Have to add another co-signer to qualify 0
Resolve credi~report errors or problems 0
Answer follow-up requests for more
information about income or assets
0
Have more than one appraisal
0
Redo/refile paperwork due to processing
0
delays
Delay or postpone closing date
0
Have your "Loan Estimate'' revised
to reflect changes in your loan terms
0
Ch10tk other sources to confnin that
terms pf this mortgage were reasonable 0

0
0
0

0
0

20. Your lendErmay have given you a boo.klet
"Your home loan toolkit: A st{jp~by-'step
guide", do you rememberreceiving a copy?

15. How open were you to suggestions from you~
lender/mortgage broker about mortgages with
different features or terms?

0Notatall

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broker
Seek a change in your loan or closing
Apply to a different lender/mortgage
broker

I (or one ofmy co7signers) did
0 The lender!m 0rtgage broker clid
0 We were put in contact by a third pa.tty(such as a
real estate. agentpr hpme builder)

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Ask questions of your lender/mortgage

•

0
0

Ht Did the "LoanEstilnate" lead you to,:.

14. Who initiated the first contact betwecm you and
the(ender/mortgage brokeryou used for the
mortgage you. tuok out?

OVety

0
0

17. WasJhe "Loan Estimate" y(lu received from your
Iender/mor~tgagebroker •..

13.. How important 'Yert; each ofthe following in
chousing the lender/mortgage brokEJr you used
for the mortgage yo:u took (}ut?
Having an established banking
relationship
0
Having. a local office or branch neatby 0
Used previously to get a mortgage
0
Lender/mortgage brQker is a personal
0
friend or relative
Lender/mortgage broker operates
online
0
Recommendation fr01i1 a thend!
relative/cocworker
0
Recommendation from a real
estate agent;home builder
O
Repu~tion of the lender/mortgage brokerO
Spoke my primary language, which is
not English
0

•

l(i.. How..im port ant were each of the foll!>V\;ing iri

11, How many differentlenderslmortgage brokers
did.you end llp.applying to?

Yes~

withQ21
Sl'iptDQ22
Don'tknow -Skip to Q22

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Federal Register / Vol. 81, No. 177 / Tuesday, September 13, 2016 / Notices

DYes

22. Durfng the application proce!is were you told
about mortgages with anyoftbe following?
Yes

An interest rate that is fL'ing counselor?

0No Skipto

23.. In selecting your settlement/closing agent~id
you ...

OYesl

Yes

Use an agent selected/recommended by the
lender/mortgage broker
0
Use an agent you had used previously
0
Shop around
0

29.. Ho'!l' was the home-buying ~ourse ot·
counseling provided?

In person, one-on-one
Ih person, in a group
Over the phone

Didnothave a settlement/closing agent

Online

ONo- Skip to Q26

Less tl:lari 3 hours

D 3- 6hours

Don't know- Skip to Q26

0.7

25. Which best describes how you pickedthe
title insurance?

Reissu~d previous title

Used title insurance recommended by
lender/mortgage broker or settlement agent
Shopped around

12 hours
than 12 hours

3.1. Overall, how helpful was the home-buying
course or counseling?
OVery
OSomewhat
ONotatall

insurance

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0
D
0

course or counseling'?

DYes· Continue with Q25

0
D
0
D

;30, How many twurs w.as th.e home-buying

24. Dn you have title insurance on this mortgage?

Yes

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•

32. What was .the primary purpose for this most
recent mortgage? Ifyou refinanced an existing
mortgage for any reason, please select
refinance. below .. Mark Q.11Q answer.

36: How imwrtant were the following in your
deci.sion to refinance, modi(yor obtain a new
mortgage?

•

Not

Important Important

PUrchase of a property Continue with Q:33

Change to a fixed-rate loan
Get a. lower interest rate
Get a lower monthly payment
Consolidate or pay down other debt
Repay the loan more quickly
Take out cash.

Pemllmentfinancing on a
construction loan
ORefinance ormodification of an
existing mortgage
0 New lqan on a mortgage-free property
D Some other purpose (specify)

0
0

0
0
D

0
0

37. Approximately how much was o'ved, in.total,on
the old mortgage(s) and loan(s) you refinanced?
33. Did y()u do tlte followingbefore or after you made
an offer on this house or property?.
·
Before
Offer

After
Offer

Did
N:ot Do

Contacted a lender to explore
mortgage options
Got a pre7approval or prequalification from a lender
Decided on the type of loan
Made a decision on which
lender to use
Subm1tted an otlicialloan
application

38. How does the total amount of your new
mortgage(s) compare to tlu1 total.amount ()f the
old "'wrtgage(s) and loan(s) you paid off

0Newammmtis lower-Skip toQ40

0 N e;v amourit is about the same -Slip to Q40
0 New amount is higher
1---,
0 Property was mortgage-freeJ . ..

(include any new secrpidliens, home equity loans,
or a home e,quity line ofcredit r1!ELOC)j?

34. ·What percent down payment did you make on
this property?

39. Did you use the money you got from. this
new mortgageforanyofthe.following'l

00%
0 Less than 3%
0 3% to less than
0 .5% to less than 10%
0 1o~;, to less than zo%
020% to. less than 30%
030%.ormore

College expenses
Auto or other major purchase
Buy out co-borrower e.g. ex-spouse
Pay off other bills or debts
Home repairs or new construction
Savings
Closing costs of new mortgage
Busine$$or investment
Other (specify)

35...Did you use any otthe.folluwing sources uf
funds to purchase tbis property?
Proceeds from the sale of another property
Savings, retirement accormt,. inheritance;
or other aS$ets
Assistance or loan from a nonprofit or
government agency
A :'\econd lien, home equity loan, or home
equity line of credlt {HELOC)
Gift or loan from family or friend
Seller contribution

Used

Not
Used

Yes

0
0

40. When you t()Ok out this most rec.ent mortgage or
tefinan~. what was the loan amount (the dollar
amount you P:orrowed)'l.

•
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41. What is the monthly payment, indt~dingtlte
amount paid to escrow fur taxes and insurance?

41. The Closirlg Disclosure statement you received at

closing shmvs the loan closing costs and other
closing .costs separately: What were the loan
closing costs you paid on this loan.?

0Don'tknow

42. What.is the interest rate on this mor;tgage?

4R How weretbtHotal closiltg costs (loan costs and

Donlt k-now

other costs)Jor this loan paid'?

43. Isthis all adjustable-rate mortgage (one that
By me or a co-signer (check or
wire transfer)
Dy lender/mortgage broker
By seller/builder
Added to tbe mortgage amcn.int

allows the interest rate to change over the life of
the loan)?
DYes

0No

44. At the time. of application, did tbelender gi\'e
you the option to setllock the interest rate so
that it wuli.Id not c:hange before. d 0sing?

D
0

0
D

Loanhad no clo!-ling costs

49. Were the loa,n co~ts you paid similar to what you
ha.d expected to pay based on the ~oan Estimates
or. Closing Disclosures you received?

DYes
DNo

DYes
0No

0Don'tknow

50. Did you seekbtput about your closing
documents from any ofthe following pl,>nple?

\\r1ten was the interest rate set/locked on this
loan?
D At application
D Between application and closing
D Around dosing

Lender/mortgage broker
Settlen:t ent agent
Real estate agent
Personal attorney
Title agent
Trusted friend or relative who is not
a co-signer Qh the mortgage
Housing counselor

46. Docs this mot~tgagc have any of the following
features?
··Yes

Don't
Kn.ow

D
D
D

D
D

D
0

A prepayment penalty (fee !ffhe
mortgage is paid offearly)
An escrow account for taxes ancllor
homeowner insurance
A balloon payment
Interest~only payments
Private mmtgage insurance

'Yes

D
0

D
D

Other ($pecify)

51. At any time after' you made your final loan
applicationdid any ofthe following change?
Higher Same Lower

Monthly payment
Interest rate
Other fees
Ainountof money needed
to close loan

D
D
D

0
0
0

0
D
0

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Don't
Kn.ow

Other (specify)

DDon'tknow

45.

Ye~

62899

Federal Register / Vol. 81, No. 177 / Tuesday, September 13, 2016 / Notices

52. Did youfa~e any unpleasant "surprises" at
your loan closing?

57. When d.idyoubuyor get this property? If you

No>Skip to Q54

DYes-,

.·.

.· .·

refinanced, the date you originally bought or got
the property'?

53.. What unpleasant surprises did you face?
Yes

Loan documents not ready
0
Closing did .not occut ~s originally
scheduled
0
Three day rule required rc-disclosurc 0
Mortgagetenns diff~re.nt at dosing
e.g: interest rate, mcmthly payment 0
More cash needed at closing
e.g. escrow, unexpected fees
0
ASked to sign blank documents
0
Rushed at closing or not given tin1e
to read documents
0

-,---,-,---'---,
month
year

0
D

58.. Wh.at wal> tlte purchase price o.f this pr~pel'ty, or
ifyou built it, the .construction and land .j::ost?

0Don'tknow

0
59. How did you acquire this property1

!ifark !211§. &l1.nver.

D Purchased an existi11g home
D Pirrchased a newly-built home from a builder
0 Had or purchased land and built a house
0 E:eceived as a gift or inheritance

Other (specify)

54. At the same time. )'ou took.out this mortgage;
did you also take out another loan on the
property you financl)d with .this mortgage (a
second!ten, home equity loan, ora home equity
Une ofcredit (HELOC))?

Other (specifY)

60. Which ofthe following best describes this
property'? Mark one an.nver.

0
0

0 No -Skip to Q56

DYes'""t

0
0
0

.55; Whatwas the amount ofthis lo.all'l

$----~---------

.0
0

ODon'tknow

Single-family detached hoUse -:Skip to Q62
Mobile hoine or manufactured home , Skip to Q62
Towiiliouse: row house, 01' villa
2-unit, 3-unit, or 4-unit dwelling
Apartment(or condo/co-op) in apartment
building
Unit in a partly commercial structure
Other (specify) - - - - - - - - - - - - - - - J

56. How well could you explain to somoonethe ...
V~ry

Process oftaking out a mortgage
·Difference between. a fLxed- and
art adjustapl~-rate mortgage

Difference between a prime and
subprime loan

0
0

D
0

0
0

Differem:e between a mortgage's
interest rate and its APR
lunortization of a loan
Consequenf;es of not rn~
required .mortgage payments.

61. Does this mortgage cover more than one.
unit?

DYes
6l.

DNa

Abouthow much do you tbinkthis property is
worth in terms of~llat you could sell it for now?
$ _ _ _ _ _ _ .00

0 Don't .know

63. Do you rent out all or any portion of this
property?
·

Difference between lender's and
owner's title insurance

DYes-,

Relationshipbetween discoUl1t
points and interest. rate

64. How much.rent doyolJ receive annually?

Reason payments into an escrow
account can change

DNo

Q65.

per year

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Not
somewhat .At All

62900

Federal Register / Vol. 81, No. 177 / Tuesday, September 13, 2016 / Notices

65.

Besid~s

yuu, the mortgage c!H;;igners, and
renters, does anyone else help pay the
expenses for this property?

71. How likely is it tbat in the next couple ofyears
you wilL
·

Not
Very Somewhat . At All

DYes

Sell this property
Move but keep this property
Refinance the mortgage on
this property
Pay off this mortgage and own
the property mortgage-free

DNo

66. Which ofthe following best d.escfibes how you

use this pro'perty?

D Primary nJsidence (where you
3pendihe mqfority ofyour time)

0
0

D
D

0
D

~·•. s.ki·cp·.·to.Q6B
.

0
will be or
mysecond
primary
residence soon
D ItSeasonal
home

0 Horne for other relatives
D R.mtal or investment property

OQiher (specify)·~~~~~~~

12. \Vhat is.your current marital sta~us?

67. If primary residence, when did you move
into this property?

~.· .·

D Never married
D
....Se·p.ar·a.. (tld.. ·.}.
DDivorced

~,-------,,----1----,----month

DWidowed

year

changed in the neighborhood where this property
is located?
Siglliticant Ll.ttle/No
Increase
atange

D
D

•.
1

...•.

· .

73. Do you have a partnerwhoshares the
decision:making and responsibilities of
running your household but is D(}t yout'
legal spouse?

68. In the last c'ouple years, how has the following

Number of homes for sale
Nurnber.of vacant homes
Number of homes forrent
Number of foreclosures or
short sales
House prices
Overall desirability ()f
living there

Married -Skip toQ74

Significant
Decrease

DYes

0No

0
0

answer thefqllowing questions for you and
your spouse or partner,. tf applicable.

0
0

74. Age at last birthday:

0
D

Sponsel
You
-~Yea.rs

69. What do you think will happen to the .prices of
homes in this neighborhood over the next
couple of years?

-.--yea.rs

75.. Sex:

spouse/

Increase a lot

Male

Increase ;otlittle

Female

Rernainabot;~Uhe same

D Decrease a

little
D Decrease ldot

You

Partner.

0
0

76: Highest level ofeducation.achiev.ed:
You.

Sponsl'l
Partner

Some schooling

High school graduate

Te~bnical.school

0
D

D Become more desirable

Some college

College graduate

0·

70. In the next couple of years, how doy(}U expect
the overall desir~.bility ofliving in this
neighborhood .to change?

Stay ab()utthe same
Become
desirable

Postgradt~ate srudies

42609

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Partner

62901

Federal Register / Vol. 81, No. 177 / Tuesday, September 13, 2016 / Notices

77. Hispank or Latino:

82. Approximately how much is your total ann.ual
household. income from all sources (wages,
.sw•or'""' tps, interest, child support, invesfmefJt
income,Yetireme.nt, social security, and alimony)?

Spouse/
You

Yes
No

78.

Parmer

0
0

You

Spouse!
Partner

0
0
0
0
0

0 l.iol~:> !han $35,000
0 $35,000.to $49,999
0$50,000 to $74,999
0 $75,000tb $99,999
0$100,000to $174,999
0$175,000 or more

Race: Adarkallthatapply.
White
Black or African American
American Indian or Alaska Native
Asian
Native Hawaiian or Pacific Islancler

83.. How do~ this total annual household income
compare to what.itis in a "normal" year?

High<;rthan normal
ONormal
D Lower than normal

79. Current work status.: Mark all that apply.
SpOUse/
You

Partner

Employed 1\Ul time

0
0
0

Employed. part time

Retired
Unemployed> temporarily Iaid~off.
or on leave
Not. working forpay(student,
homemaker, disable4)

0
0

Self-employed fulltinie
Self-employed parttime

84. Does your total artnllal household ipcome
includE:! any of the following source.s?

0
0

Wages or salary
Busmess or ~If-employment
Interest or dividends
Alimony or child support
· Social Security, pension or other
retirement benefits

80, .Ever served on. active duty in the U.S. Armed
Forces: (Active duty includes serving in.the U.S.

initiallba:>i<,:. training
No, never served in the U.S.
Anned Forces·

Spouse/
Par!n{Jr

0
0
0
0

0
0
0

following?

Reserves or NattonalGuard).
You

Yes

85.. D~es anyone in yoqr hou~ehold h aveany of the

Atmed Forces .as we)l as activation from the

now on a<;tive duty
Yes, on active. duty in the past, but
not now
No, never on active duty except for

Yes

401 (k), 403(h), TRA, or pension plan

Stocks, bonds, or mutual funds(nat in
retirement. accmlnts or pension plans)
Certificates of deposit
Investment real estate

0
0

86. Which.~ofthe following statements best
describes tbe amou:rtt. offinanciru1·isk you are
willing to take wh~n: you .save .or make
imr.estments'l

8t Besides you (and your spouse/partner) who else

D Take substantial financialrisks ~xpeoting to e.am

lives .in yom: .household? Mark allthat apply.

substantial returns
O.Take ahove~average .financial risks expecting to
eam above-average returns
0 Take average financial risks expecting to earn
·
·
average return<>
0Not willing to take any financial risks

D Children/grandchildren un:¢1et a.ge I 8
0 Children/grandchildren age 18-22
0

Childreri!grandchildren age 23 ot older

0 Pare11ts of you or your spouse or partner

Other relative~ like siblings qr cousins

ONon-relatives

42609

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O.No one else

62902

•

Federal Register / Vol. 81, No. 177 / Tuesday, September 13, 2016 / Notices

87; Do you agree or disagree with the following
statements'?

90. In the last couple years,bow have the following
changed for you (and your spouse/partner)?

Agree Disugree

Owning a home is a good financial
investment
Most mortgage lenders generally
treat borrowers well .
Most mortgage lenders would offer
me roughly the same rates and fees
Late payments will lower my
credit rating
Lenders shouldn't care about any late
payments, only whether loans are
fully repaid
It okay to defaulter stop making
mortgage payments if it is in the
.borrow.er's financial. interest
I would consider counseling or taking a
course about managing my finances if
I faced financial difficulties

Significant. Lltue/No

Increase

Change

Household income
Housi!fg CJ\.'J)cnses
Non-housing expenses

•

Slgnll1i:lntt

Decr.ease

91. In the n¢xt couple of years, hoW do you expect
. .the following to changefor you (and your
spou~e/partner)?

Sigllilicant T,itlle/Nn

mcrel!Se

Otauge

0
0

0
0
0

Household income
Housing expem;es
Non-housing expenses

Significant
Deerease

0
0

92. How likelf is .it that in,the next couple ofyears
you (or yo.ur spouse/partner) will face.,.
Nut

Very Somewhat At All

88. In the last couple of years, have any of the
followinghappened to you?
Yes

0
0
0

0
0

0
0
0

Yes

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93. If your household faced an unexpected
personal financial crisis in the next couple of
years, how likely is it you could; ..
Not.
Very Sumewliat .At All

Pay your bills for the next 3
months without borrowing
Get significant financial help
from family or friends
Borrov: a significant amount
from a bank or credit union
Significantly increase your
income

89. In the last eoupl'! of years, have any of.the
following happene2014

CflS!S

Disability o;r serious illness· of
household member
Disaster affecting a property you mvn
Disaster affecting your (or yotu:
spouse/partner's) work
Moved within the area (less than 50 miles)
Moved to anew area (50 miles ormC!re)

Layoff, unemployment, or reduced
hours of work
Retirement
Promotion
Starting. a riewjob
Starting a second job
Business failure
A personal financial crisis

0
0
0
0
D
0
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EN13SE16.010

Separated, divorced or partner left
Married, remarried or new partner
Death of a household member
A<;ldition to your hous.ehold
(not including spouse!lJartner)
Person leaving your household
(not including spouse/partner)

Retirement
Difficulties making yow
mqrtgage payments
A layoff, unemployment, or
forced reduction in hours
Some other personal financi;ll

62903

Federal Register / Vol. 81, No. 177 / Tuesday, September 13, 2016 / Notices

•

the Federal
Housing Finance
Age.n.cY andfhe Consume.r Financial
.
.
.
·Protection Burea.ti thank you for completing this survey.
We have provided the space .below if you wish to .share additional comments or further explain any
of yovr answers.. Please do not put yourname orfl.ddress ()If the ql!estionnaire.

Pll;!ase use the er:~dose.dbusiness reply emvelope to return. your completed questionnaire.
FHFA
·· 1600 Research Blvd, RC.Bl6
~ockville, IVJD 20~50

•
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For any questiOns about the survey or online access .you can call. toll free l-&5~·339~7877.

62904

Federal Register / Vol. 81, No. 177 / Tuesday, September 13, 2016 / Notices

FEDERAL RESERVE SYSTEM
Notice of Proposals To Engage in or
To Acquire Companies Engaged in
Permissible Nonbanking Activities
The companies listed in this notice
have given notice under section 4 of the
Bank Holding Company Act (12 U.S.C.
1843) (BHC Act) and Regulation Y, (12
CFR part 225) to engage de novo, or to
acquire or control voting securities or
assets of a company, including the
companies listed below, that engages
either directly or through a subsidiary or
other company, in a nonbanking activity
that is listed in § 225.28 of Regulation Y
(12 CFR 225.28) or that the Board has
determined by Order to be closely
related to banking and permissible for
bank holding companies. Unless
otherwise noted, these activities will be
conducted throughout the United States.
Each notice is available for inspection
at the Federal Reserve Bank indicated.
The notice also will be available for
inspection at the offices of the Board of
Governors. Interested persons may
express their views in writing on the
question whether the proposal complies
with the standards of section 4 of the
BHC Act.
Unless otherwise noted, comments
regarding the applications must be
received at the Reserve Bank indicated
or the offices of the Board of Governors
not later than September 28, 2016.
A. Federal Reserve Bank of New York
(Ivan Hurwitz, Vice President) 33
Liberty Street, New York, New York
10045–0001. Comments can also be sent
electronically to
[email protected]:
1. CRB Group Inc., Teaneck, New
Jersey; to engage in extending credit and
servicing loans, pursuant to section
225.28(b)(1) of Regulation Y.
Board of Governors of the Federal Reserve
System, September 8, 2016.
Michele T. Fennell,
Assistant Secretary of the Board.
[FR Doc. 2016–21953 Filed 9–12–16; 8:45 am]
BILLING CODE 6210–01–P

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FEDERAL TRADE COMMISSION
[File No. 161 0061]

ON Semiconductor Corporation;
Analysis To Aid Public Comment
Federal Trade Commission.
Proposed consent agreement.

AGENCY:
ACTION:

VerDate Sep<11>2014

15:27 Sep 12, 2016

Jkt 238001

The consent agreement in this
matter settles alleged violations of
federal law prohibiting unfair methods
of competition. The attached Analysis to
Aid Public Comment describes both the
allegations in the complaint and the
terms of the consent order—embodied
in the consent agreement—that would
settle these allegations.
DATES: Comments must be received on
or before September 26, 2016.
ADDRESSES: Interested parties may file a
comment at https://
ftcpublic.commentworks.com/ftc/
fairchildconsent online or on paper, by
following the instructions in the
Request for Comment part of the
SUPPLEMENTARY INFORMATION section
below. Write ‘‘In the Matter of ON
Semiconductor Corporation, File No.
161–0061—Consent Agreement’’ on
your comment and file your comment
online at https://
ftcpublic.commentworks.com/ftc/
fairchildconsent by following the
instructions on the Web-based form. If
you prefer to file your comment on
paper, write ‘‘In the Matter of ON
Semiconductor Corporation, File No.
161–0061—Consent Agreement’’ on
your comment and on the envelope, and
mail your comment to the following
address: Federal Trade Commission,
Office of the Secretary, 600
Pennsylvania Avenue NW., Suite CC–
5610 (Annex D), Washington, DC 20580,
or deliver your comment to the
following address: Federal Trade
Commission, Office of the Secretary,
Constitution Center, 400 7th Street SW.,
5th Floor, Suite 5610 (Annex D),
Washington, DC 20024.
FOR FURTHER INFORMATION CONTACT:
Llewellyn Davis (202–326–3394),
Bureau of Competition, 600
Pennsylvania Avenue NW., Washington,
DC 20580.
SUPPLEMENTARY INFORMATION: Pursuant
to Section 6(f) of the Federal Trade
Commission Act, 15 U.S.C. 46(f), and
FTC Rule 2.34, 16 CFR § 2.34, notice is
hereby given that the above-captioned
consent agreement containing consent
order to cease and desist, having been
filed with and accepted, subject to final
approval, by the Commission, has been
placed on the public record for a period
of thirty (30) days. The following
Analysis to Aid Public Comment
describes the terms of the consent
agreement, and the allegations in the
complaint. An electronic copy of the
full text of the consent agreement
package can be obtained from the FTC
Home Page (for August 25, 2016), on the
World Wide Web, at http://www.ftc.gov/
os/actions.shtm.
SUMMARY:

[FR Doc. 2016–21983 Filed 9–12–16; 8:45 am]
BILLING CODE 8070–01–C

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You can file a comment online or on
paper. For the Commission to consider
your comment, we must receive it on or
before September 26, 2016. Write ‘‘In
the Matter of ON Semiconductor
Corporation, File No. 161–0061—
Consent Agreement’’ on your comment.
Your comment—including your name
and your state—will be placed on the
public record of this proceeding,
including, to the extent practicable, on
the public Commission Web site, at
http://www.ftc.gov/os/
publiccomments.shtm. As a matter of
discretion, the Commission tries to
remove individuals’ home contact
information from comments before
placing them on the Commission Web
site.
Because your comment will be made
public, you are solely responsible for
making sure that your comment does
not include any sensitive personal
information, like anyone’s Social
Security number, date of birth, driver’s
license number or other state
identification number or foreign country
equivalent, passport number, financial
account number, or credit or debit card
number. You are also solely responsible
for making sure that your comment does
not include any sensitive health
information, like medical records or
other individually identifiable health
information. In addition, do not include
any ‘‘[t]rade secret or any commercial or
financial information which . . . is
privileged or confidential,’’ as discussed
in Section 6(f) of the FTC Act, 15 U.S.C.
§ 46(f), and FTC Rule § 4.10(a)(2), 16
CFR 4.10(a)(2). In particular, do not
include competitively sensitive
information such as costs, sales
statistics, inventories, formulas,
patterns, devices, manufacturing
processes, or customer names.
If you want the Commission to give
your comment confidential treatment,
you must file it in paper form, with a
request for confidential treatment, and
you have to follow the procedure
explained in FTC Rule 4.9(c), 16 CFR
§ 4.9(c).1 Your comment will be kept
confidential only if the FTC General
Counsel, in his or her sole discretion,
grants your request in accordance with
the law and the public interest.
Postal mail addressed to the
Commission is subject to delay due to
heightened security screening. As a
result, we encourage you to submit your
comments online. To make sure that the
Commission considers your online
1 In particular, the written request for confidential
treatment that accompanies the comment must
include the factual and legal basis for the request,
and must identify the specific portions of the
comment to be withheld from the public record. See
FTC Rule 4.9(c), 16 CFR § 4.9(c).

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File Modified	2016-09-13
File Created	2016-09-13