CFR > Title 12 - Banks and Banking > CHAPTER IX—FEDERAL HOUSING FINANCE BOARD > SUBCHAPTER B—FEDERAL HOUSING FINANCE BOARD ORGANIZATION AND OPERATIONS (parts 905 to 912) > PART 907—PROCEDURES > SUBPART B—Waivers, Approvals, No-Action Letters, and Regulatory Interpretations (§907.2 to §907.7) > 907.7—Issuance of Waivers, Approvals, No-Action Letters, and Regulatory Interpretations.

907.7—Issuance of Waivers, Approvals, No-Action Letters, and Regulatory Interpretations.

(a) Board of Directors review. At least three business days prior to issuance to the requester, the Secretary to the Board shall transmit each Approval, No-Action Letter, or Regulatory Interpretation issued by the Chairperson or Finance Board staff to the Board of Directors for review.
(b) Issuance and effectiveness. A Waiver, Approval, No-Action Letter, or Regulatory Interpretation is not effective until the Secretary to the Board has transmitted it in final form to the requester.
(c) Abbreviated form. The Finance Board may respond to an application or request in an abbreviated form, consisting of a concise statement of the nature of the response, without restatement of the underlying facts.