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foregoing, the Receiver has determined that the • The Office of the Comptroller of the Currency
continued existence of the receiverships will (OCC) announced it seeks comment on the
serve no useful purpose. Consequently, notice is information collection titled Procedures to
given that the receiverships shall be terminated, Enhance the Accuracy and Integrity of
to be effective no sooner than thirty days after Information Furnished to Consumer Reporting
the date of this notice. If any person wishes to Agencies under Section 312 of the Fair and
comment concerning the termination of any of Accurate Credit Transactions Act (FACT Act).
the receiverships, such comment must be made OCC also gave notice that it sent the collection
in writing, identify the receivership to which the to OMB for review. Comments are due
comment pertains, and be sent within thirty days 07/23/2018. The notice may be viewed at:
of the date of this notice to: Federal Deposit https://www.gpo.gov/fdsys/pkg/FR-2018-06-
Insurance Corporation, Division of Resolutions 22/pdf/2018-13384.pdf. Federal Register, Vol.
and Receiverships, Attention: Receivership 83, No. 121, 06/22/2018, 29153-29154.
Oversight Department 34.6, 1601 Bryan Street,
Dallas, TX 75201. No comments concerning the • OCC announced it seeks comment on the
termination of the above-mentioned information collection titled Loans in Areas
receiverships will be considered which are not Having Special Flood Hazards. OCC also gave
sent within this time frame. The notice may be notice that it sent the collection to OMB for
viewed at: https://www.gpo.gov/fdsys/pkg/FR- review. Comments are due 07/27/2018. The
2018-06-22/pdf/2018-13361.pdf. Federal notice may be viewed at:
Register, Vol. 83, No. 121, 06/22/2018, 29115. https://www.gpo.gov/fdsys/pkg/FR-2018-06-
https://www.gpo.gov/fdsys/pkg/FR-2018-07- 27/pdf/2018-13745.pdf. Federal Register, Vol.
09/pdf/2018-14592.pdf. Federal Register, Vol. 83, No. 124, 06/27/2018, 30220-30221.
83, No. 131, 07/09/2018, 31758.
OCC Renews Minority Depository
• FDIC as Receiver was charged with the duty of Institution Advisory Committee Charter.
winding up the affairs of former depository
institutions and liquidating all related assets. The OCC has determined that the renewal of the charter
Receiver has fulfilled its obligations and made of the OCC Minority Depository Institutions
all dividend distributions required by law. The Advisory Committee (MDIAC) is necessary and in
Receiver has further irrevocably authorized and the public interest. OCC hereby gives notice of the
appointed FDIC-Corporate as its attorney-in-fact renewal of the charter. The notice may be viewed at:
to execute and file any and all documents that https://www.gpo.gov/fdsys/pkg/FR-2018-07-
may be required to be executed by the Receiver 10/pdf/2018-14690.pdf. Federal Register, Vol. 83,
which FDIC-Corporate, in its sole discretion, No. 132, 07/10/2018, 31990.
deems necessary, including but not limited to
releases, discharges, satisfactions, endorsements, HUD Issues Interpretive Rule on Loan
assignments, and deeds. Effective on the Seasoning for Ginnie Mae Mortgage-
termination dates listed in the final column of the Backed Securities.
chart in the notice, the Receiverships have been
terminated, the Receiver has been discharged, The Department of Housing and Urban Development
and the Receiverships have ceased to exist as (HUD) issued an interpretive rule to clarify the scope
legal entities. The notices may be viewed at: of the provision of the recently enacted Economic
Growth, Regulatory Relief, and Consumer Protection
https://www.gpo.gov/fdsys/pkg/FR-2018-07- Act (Act) that prohibits the Government National
09/pdf/2018-14591.pdf. Federal Register, Vol. Mortgage Association (Ginnie Mae) from
83, No. 131, 07/09/2018, 31757. guaranteeing the timely payment of principal and
interest on a security that is “backed by a mortgage”
OCC Requests Comment on Information that fails to meet certain “seasoning” requirements.
Collections. With this new amendment, questions have arisen as
to the effect of this provision on Ginnie Mae’s ability
to guarantee Multiclass Securities where the trust
assets consist of direct or indirect interests in
JULY 2018
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