Agency Information Collection Activities: Information Collection Renewal; Submission for OMB Review; Registration of Mortgage Loan Originators, 39196-39197 [2015-16695]
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39196
Federal Register / Vol. 80, No. 130 / Wednesday, July 8, 2015 / Notices
srobinson on DSK5SPTVN1PROD with NOTICES
Title: Recordkeeping and Disclosure
Provisions Associated with Stress
Testing Guidance.
OMB Control No.: 1557–0312.
Description: Each banking
organization should have the capacity to
understand its risks and the potential
impact of stressful events and
circumstances on its financial
condition.1 On May 17, 2012, the OCC,
along with the Federal Deposit
Insurance Corporation (FDIC) and Board
of Governors of the Federal Reserve
(FRB), published guidance on the use of
stress testing as a means to better
understand the range of a banking
organization’s potential risk exposures.2
The OCC is now seeking to renew the
information collection associated with
that guidance.
The guidance provides an overview of
how a banking organization should
structure its stress testing activities to
ensure they fit into the banking
organization’s overall risk management
program. The purpose of the guidance is
to outline broad principles for a
satisfactory stress testing framework and
to describe the manner in which stress
testing should be used, that is as an
integral component of risk management
applicable at various levels of
aggregation within a banking
organization, as well as a tool for capital
and liquidity planning. While the
guidance is not intended to provide
detailed instructions for conducting
stress testing for any particular risk or
business area, it does describe several
types of stress testing activities and how
they may be most appropriately used by
banking organizations. The guidance
also does not explicitly address the
stress testing requirements imposed
upon certain companies by section
165(i) of the Dodd-Frank Wall Street
Reform and Consumer Protection Act
(the Dodd-Frank Act).3
Type of Review: Regular.
Affected Public: Businesses or other
for-profit.
Estimated Number of Respondents:
62.
Estimated annual burden: 16,120
hours.
On April 15, 2015, the OCC issued a
60-day Federal Register notice
regarding the collection (80 FR 20290).
1 For purposes of this guidance, the term
‘‘banking organization’’ means national banks and
Federal branches and agencies supervised by the
OCC; state member banks, bank holding companies,
and all other institutions for which the FRB is the
primary Federal supervisor; and state nonmember
insured banks and other institutions supervised by
the FDIC.
2 77 FR 29458 (May 17, 2012).
3 Public Law 111–203, 124 Stat. 1376. Section
165(i) of the Dodd-Frank Act is codified at 12 U.S.C.
5365(i)(2).
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18:49 Jul 07, 2015
Jkt 235001
No comments were received. However,
the burden estimates in the 60-day
Federal Register notice were inaccurate
and have been corrected. They have
increased by 12 respondents and 3,120
hours. Comments continue to be invited
on:
(a) Whether the collections of
information are necessary for the proper
performance of the OCC’s functions,
including whether the information has
practical utility;
(b) The accuracy of the OCC’s
estimates of the burden of the
information collections, including the
validity of the methodology and
assumptions used;
(c) Ways to enhance the quality,
utility, and clarity of the information to
be collected;
(d) Ways to minimize the burden of
information collections on respondents,
including through the use of automated
collection techniques or other forms of
information technology; and
(e) Estimates of capital or start-up
costs and costs of operation,
maintenance, and purchase of services
to provide information.
Dated: July 1, 2015.
Mary H. Gottlieb,
Regulatory Specialist, Legislative and
Regulatory Activities Division.
[FR Doc. 2015–16655 Filed 7–7–15; 8:45 am]
BILLING CODE 4810–33–P
DEPARTMENT OF THE TREASURY
Office of the Comptroller of the
Currency
Agency Information Collection
Activities: Information Collection
Renewal; Submission for OMB Review;
Registration of Mortgage Loan
Originators
Office of the Comptroller of the
Currency (OCC), Treasury.
ACTION: Notice and request for comment.
AGENCY:
The OCC, as part of its
continuing effort to reduce paperwork
and respondent burden, invites the
general public and other Federal
agencies to take this opportunity to
comment on a continuing information
collection, as required by the Paperwork
Reduction Act of 1995 (PRA).
In accordance with the requirements
of the PRA, the OCC may not conduct
or sponsor, and the respondent is not
required to respond to, an information
collection unless it displays a currently
valid Office of Management and Budget
(OMB) control number.
The OCC is soliciting comment
concerning the renewal of its
SUMMARY:
PO 00000
Frm 00147
Fmt 4703
Sfmt 4703
information collection titled,
‘‘Registration of Mortgage Loan
Originators.’’ The OCC also is giving
notice that it has sent the collection to
OMB for review.
DATES: You should submit written
comments by August 7, 2015.
ADDRESSES: Because paper mail in the
Washington, DC area and at the OCC is
subject to delay, commenters are
encouraged to submit comments by
email, if possible. Comments may be
sent to: Legislative and Regulatory
Activities Division, Office of the
Comptroller of the Currency, Attention:
1557–0243, 400 7th Street SW., Suite
3E–218, Mail Stop 9W–11, Washington,
DC 20219. In addition, comments may
be sent by fax to (571) 465–4326 or by
electronic mail to prainfo@occ.treas.gov.
You may personally inspect and
photocopy comments at the OCC, 400
7th Street, SW., Washington, DC 20219.
For security reasons, the OCC requires
that visitors make an appointment to
inspect comments. You may do so by
calling (202) 649–6700. Upon arrival,
visitors will be required to present valid
government-issued photo identification
and to submit to security screening in
order to inspect and photocopy
comments.
All comments received, including
attachments and other supporting
materials, are part of the public record
and subject to public disclosure. Do not
include any information in your
comment or supporting materials that
you consider confidential or
inappropriate for public disclosure.
Additionally, please send a copy of
your comments by mail to: OCC Desk
Officer, 1557–0243, U.S. Office of
Management and Budget, 725 17th
Street NW., #10235, Washington, DC
20503, or by email to: oira submission@
omb.eop.gov.
FOR FURTHER INFORMATION CONTACT:
Shaquita Merritt, (202) 649–5490, for
persons who are deaf or hard of hearing,
TTY, (202) 649–5597, Legislative and
Regulatory Activities Division, Office of
the Comptroller of the Currency, 400 7th
Street SW., Washington, DC 20219.
SUPPLEMENTARY INFORMATION: The OCC
is requesting extension of OMB
approval for this collection. There have
been no changes to the requirements of
the regulations.
Title: Registration of Mortgage Loan
Originators.
OMB Number: 1557–0243.
Description: Among other things, the
Secure and Fair Enforcement for
Mortgage Licensing Act (S.A.F.E. Act),
codified at 12 U.S.C. 5101- 5116,
requires an employee of a bank, savings
association, or credit union or a
E:\FR\FM\08JYN1.SGM
08JYN1
Federal Register / Vol. 80, No. 130 / Wednesday, July 8, 2015 / Notices
srobinson on DSK5SPTVN1PROD with NOTICES
subsidiary thereof regulated by a
Federal banking agency or an employee
of an institution regulated by the Farm
Credit Administration (FCA)
(collectively, Agency-Regulated
Institutions), who engages in the
business of a residential mortgage loan
originator (MLO), to register with the
Nationwide Mortgage Licensing System
and Registry (Registry) and obtain a
unique identifier. Pursuant to
implementing regulations set forth at 12
CFR part 1007, Agency-Regulated
Institutions must require their
employees who act as residential MLOs
to comply with the requirements to
register and obtain a unique identifier
under the S.A.F.E. Act and must adopt
and follow written policies and
procedures to assure compliance with
these requirements. In order to register,
an MLO must provide to the Registry
identifying information, including: (1)
Fingerprints for submission to the
Federal Bureau of Investigation and any
other relevant governmental agency for
a State and national criminal
background check; and (2) personal
history and experience, including
authorization for the Registry to obtain
information related to any
administrative, civil, or criminal
findings by any governmental
jurisdiction. The S.A.F.E. Act originally
required the Federal banking agencies
and the FCA to develop and maintain
the Registry; however, the Dodd-Frank
Act subsequently transferred that
responsibility to the Consumer
Financial Protection Bureau.
The Registry is intended to aggregate
and improve the flow of information to
and between regulators; provide
increased accountability and tracking of
mortgage loan originators; enhance
consumer protections; reduce fraud in
the residential mortgage loan origination
process; and provide consumers with
easily accessible information at no
charge regarding the employment
history of, and the publicly adjudicated
disciplinary and enforcement actions
against, MLOs.
MLO Reporting Requirements
Twelve CFR 1007.103(a) generally
requires an MLO of an AgencyRegulated Institution to register with the
Registry, maintain such registration, and
obtain a unique identifier. Under
§ 1007.103(b), an Agency-Regulated
Institution must require each such
registration to be renewed annually and
updated within 30 days of the
occurrence of specified events. Section
1007.103(d) sets forth the categories of
information that an employee, or the
employing institution on the employee’s
behalf, must submit to the Registry,
VerDate Sep<11>2014
18:49 Jul 07, 2015
Jkt 235001
along with the employee’s attestation as
to the correctness of the information
supplied and an authorization to obtain
further information.
MLO Disclosure Requirement
Section 1007.105(b) requires an MLO
to provide the unique identifier to a
consumer upon request.
Financial Institution Reporting
Requirements
Section 1007.103(e) specifies the
institution and employee information
that an institution must submit to the
Registry in connection with the initial
registration of one or more MLOs and
thereafter update.
Financial Institution Disclosure
Requirements
Section 1007.105(a) requires the
institution to make the unique identifier
of MLOs available to consumers in a
manner and method practicable to the
institution.
Financial Institution Recordkeeping
Requirements
• Section 1007.103(d)(1)(xii) requires
the collection of MLO fingerprints.
• Section 1007.104 requires an
institution employing MLOs to:
Æ Adopt and follow written policies
and procedures, at a minimum
addressing certain specified areas, but
otherwise appropriate to the nature,
size, and complexity of their mortgage
lending activities;
Æ Establish reasonable procedures
and tracking systems for monitoring
registration compliance; and
Æ Establish a process for, and
maintain records related to, employee
criminal history background reports and
actions taken with respect thereto.
Type of Review: Extension of a
currently approved collection.
Affected Public: Individuals;
Businesses or other for-profit.
Estimated Number of Respondents:
65,027.
Estimated Total Annual Burden:
44,899 hours.
The OCC issued a 60-day Federal
Register notice regarding the collection
on February 26, 2015, (80 FR 10566). No
comments were received. Comments
continue to be invited on:
(a) Whether the collection of
information is necessary for the proper
performance of the functions of the
OCC, including whether the information
has practical utility;
(b) The accuracy of the OCC’s
estimate of the burden of the collection
of information;
(c) Ways to enhance the quality,
utility, and clarity of the information to
be collected;
PO 00000
Frm 00148
Fmt 4703
Sfmt 4703
39197
(d) Ways to minimize the burden of
the collection on respondents, including
through the use of automated collection
techniques or other forms of information
technology; and
(e) Estimates of capital or start-up
costs and costs of operation,
maintenance, and purchase of services
to provide information.
Dated: July 1, 2015.
Mary H. Gottlieb,
Regulatory Specialist, Legislative and
Regulatory Activities Division.
[FR Doc. 2015–16695 Filed 7–7–15; 8:45 am]
BILLING CODE 4810–33–P
DEPARTMENT OF THE TREASURY
Office of the Secretary
List of Countries Requiring
Cooperation With an International
Boycott
In accordance with section 999(a)(3)
of the Internal Revenue Code of 1986,
the Department of the Treasury is
publishing a current list of countries
which require or may require
participation in, or cooperation with, an
international boycott (within the
meaning of section 999(b)(3) of the
Internal Revenue Code of 1986).
On the basis of the best information
currently available to the Department of
the Treasury, the following countries
require or may require participation in,
or cooperation with, an international
boycott (within the meaning of section
999(b)(3) of the Internal Revenue Code
of 1986).
Iraq
Kuwait
Lebanon
Libya
Qatar
Saudi Arabia
Syria
United Arab Emirates
Yemen
Dated: July 1, 2015.
Danielle Rolfes,
International Tax Counsel. (Tax Policy).
[FR Doc. 2015–16681 Filed 7–7–15; 8:45 am]
BILLING CODE 4810–25–P
DEPARTMENT OF VETERANS
AFFAIRS
Solicitation of Nominations for
Appointment to the Advisory
Committee on Disability Compensation
ACTION:
Notice.
The Department of Veterans
Affairs (VA), Veterans Benefits
SUMMARY:
E:\FR\FM\08JYN1.SGM
08JYN1
]]>Agencies
[Federal Register Volume 80, Number 130 (Wednesday, July 8, 2015)]
[Notices]
[Pages 39196-39197]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2015-16695]
-----------------------------------------------------------------------
DEPARTMENT OF THE TREASURY
Office of the Comptroller of the Currency
Agency Information Collection Activities: Information Collection
Renewal; Submission for OMB Review; Registration of Mortgage Loan
Originators
AGENCY: Office of the Comptroller of the Currency (OCC), Treasury.
ACTION: Notice and request for comment.
-----------------------------------------------------------------------
SUMMARY: The OCC, as part of its continuing effort to reduce paperwork
and respondent burden, invites the general public and other Federal
agencies to take this opportunity to comment on a continuing
information collection, as required by the Paperwork Reduction Act of
1995 (PRA).
In accordance with the requirements of the PRA, the OCC may not
conduct or sponsor, and the respondent is not required to respond to,
an information collection unless it displays a currently valid Office
of Management and Budget (OMB) control number.
The OCC is soliciting comment concerning the renewal of its
information collection titled, ``Registration of Mortgage Loan
Originators.'' The OCC also is giving notice that it has sent the
collection to OMB for review.
DATES: You should submit written comments by August 7, 2015.
ADDRESSES: Because paper mail in the Washington, DC area and at the OCC
is subject to delay, commenters are encouraged to submit comments by
email, if possible. Comments may be sent to: Legislative and Regulatory
Activities Division, Office of the Comptroller of the Currency,
Attention: 1557-0243, 400 7th Street SW., Suite 3E-218, Mail Stop 9W-
11, Washington, DC 20219. In addition, comments may be sent by fax to
(571) 465-4326 or by electronic mail to prainfo@occ.treas.gov. You may
personally inspect and photocopy comments at the OCC, 400 7th Street,
SW., Washington, DC 20219. For security reasons, the OCC requires that
visitors make an appointment to inspect comments. You may do so by
calling (202) 649-6700. Upon arrival, visitors will be required to
present valid government-issued photo identification and to submit to
security screening in order to inspect and photocopy comments.
All comments received, including attachments and other supporting
materials, are part of the public record and subject to public
disclosure. Do not include any information in your comment or
supporting materials that you consider confidential or inappropriate
for public disclosure.
Additionally, please send a copy of your comments by mail to: OCC
Desk Officer, 1557-0243, U.S. Office of Management and Budget, 725 17th
Street NW., #10235, Washington, DC 20503, or by email to: oira
submission@omb.eop.gov.
FOR FURTHER INFORMATION CONTACT: Shaquita Merritt, (202) 649-5490, for
persons who are deaf or hard of hearing, TTY, (202) 649-5597,
Legislative and Regulatory Activities Division, Office of the
Comptroller of the Currency, 400 7th Street SW., Washington, DC 20219.
SUPPLEMENTARY INFORMATION: The OCC is requesting extension of OMB
approval for this collection. There have been no changes to the
requirements of the regulations.
Title: Registration of Mortgage Loan Originators.
OMB Number: 1557-0243.
Description: Among other things, the Secure and Fair Enforcement
for Mortgage Licensing Act (S.A.F.E. Act), codified at 12 U.S.C. 5101-
5116, requires an employee of a bank, savings association, or credit
union or a
[[Page 39197]]
subsidiary thereof regulated by a Federal banking agency or an employee
of an institution regulated by the Farm Credit Administration (FCA)
(collectively, Agency-Regulated Institutions), who engages in the
business of a residential mortgage loan originator (MLO), to register
with the Nationwide Mortgage Licensing System and Registry (Registry)
and obtain a unique identifier. Pursuant to implementing regulations
set forth at 12 CFR part 1007, Agency-Regulated Institutions must
require their employees who act as residential MLOs to comply with the
requirements to register and obtain a unique identifier under the
S.A.F.E. Act and must adopt and follow written policies and procedures
to assure compliance with these requirements. In order to register, an
MLO must provide to the Registry identifying information, including:
(1) Fingerprints for submission to the Federal Bureau of Investigation
and any other relevant governmental agency for a State and national
criminal background check; and (2) personal history and experience,
including authorization for the Registry to obtain information related
to any administrative, civil, or criminal findings by any governmental
jurisdiction. The S.A.F.E. Act originally required the Federal banking
agencies and the FCA to develop and maintain the Registry; however, the
Dodd-Frank Act subsequently transferred that responsibility to the
Consumer Financial Protection Bureau.
The Registry is intended to aggregate and improve the flow of
information to and between regulators; provide increased accountability
and tracking of mortgage loan originators; enhance consumer
protections; reduce fraud in the residential mortgage loan origination
process; and provide consumers with easily accessible information at no
charge regarding the employment history of, and the publicly
adjudicated disciplinary and enforcement actions against, MLOs.
MLO Reporting Requirements
Twelve CFR 1007.103(a) generally requires an MLO of an Agency-
Regulated Institution to register with the Registry, maintain such
registration, and obtain a unique identifier. Under Sec. 1007.103(b),
an Agency-Regulated Institution must require each such registration to
be renewed annually and updated within 30 days of the occurrence of
specified events. Section 1007.103(d) sets forth the categories of
information that an employee, or the employing institution on the
employee's behalf, must submit to the Registry, along with the
employee's attestation as to the correctness of the information
supplied and an authorization to obtain further information.
MLO Disclosure Requirement
Section 1007.105(b) requires an MLO to provide the unique
identifier to a consumer upon request.
Financial Institution Reporting Requirements
Section 1007.103(e) specifies the institution and employee
information that an institution must submit to the Registry in
connection with the initial registration of one or more MLOs and
thereafter update.
Financial Institution Disclosure Requirements
Section 1007.105(a) requires the institution to make the unique
identifier of MLOs available to consumers in a manner and method
practicable to the institution.
Financial Institution Recordkeeping Requirements
Section 1007.103(d)(1)(xii) requires the collection of MLO
fingerprints.
Section 1007.104 requires an institution employing MLOs
to:
[cir] Adopt and follow written policies and procedures, at a
minimum addressing certain specified areas, but otherwise appropriate
to the nature, size, and complexity of their mortgage lending
activities;
[cir] Establish reasonable procedures and tracking systems for
monitoring registration compliance; and
[cir] Establish a process for, and maintain records related to,
employee criminal history background reports and actions taken with
respect thereto.
Type of Review: Extension of a currently approved collection.
Affected Public: Individuals; Businesses or other for-profit.
Estimated Number of Respondents: 65,027.
Estimated Total Annual Burden: 44,899 hours.
The OCC issued a 60-day Federal Register notice regarding the
collection on February 26, 2015, (80 FR 10566). No comments were
received. Comments continue to be invited on:
(a) Whether the collection of information is necessary for the
proper performance of the functions of the OCC, including whether the
information has practical utility;
(b) The accuracy of the OCC's estimate of the burden of the
collection of information;
(c) Ways to enhance the quality, utility, and clarity of the
information to be collected;
(d) Ways to minimize the burden of the collection on respondents,
including through the use of automated collection techniques or other
forms of information technology; and
(e) Estimates of capital or start-up costs and costs of operation,
maintenance, and purchase of services to provide information.
Dated: July 1, 2015.
Mary H. Gottlieb,
Regulatory Specialist, Legislative and Regulatory Activities Division.
[FR Doc. 2015-16695 Filed 7-7-15; 8:45 am]
BILLING CODE 4810-33-P
