Agency Information Collection Activities: Proposed Information Collection; Submission for OMB Review; Domestic First Lien Residential Mortgage Data, 35734-35735 [2015-15245]

Agencies

• Office of the Comptroller of the Currency
• DEPARTMENT OF THE TREASURY

[Federal Register Volume 80, Number 119 (Monday, June 22, 2015)]
[Notices]
[Pages 35734-35735]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2015-15245]



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DEPARTMENT OF THE TREASURY

Office of the Comptroller of the Currency


Agency Information Collection Activities: Proposed Information 
Collection; Submission for OMB Review; Domestic First Lien Residential 
Mortgage Data

AGENCY: Office of the Comptroller of the Currency (OCC), Treasury.

ACTION: Notice and request for comment.

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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 an 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 its proposed information 
collection titled, ``Domestic First Lien Residential Mortgage Data.'' 
The OCC also is giving notice that it has sent the collection to OMB 
for review.

DATES: You should submit written comments by: July 22, 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-NEW, 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 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-NEW, 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, OCC Clearance 
Officer, (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 OMB approval for the 
following information collection:
    Title: Domestic First Lien Residential Mortgage Data.
    OMB Control Number: To be assigned by OMB.
    Description: Comprehensive mortgage data is vital to assessing and 
monitoring credit quality and loss mitigation activities in the 
residential mortgage market and the federal banking system. This data 
is important and necessary to support supervisory activities to ensure 
the safety and soundness of the federal banking system.
    This data collection would include monthly first lien real estate 
mortgage loan-level data and include origination and servicing 
information. The reported data items would include: Loan number; loan, 
line and appraisal amounts; loan documentation information; loan-to-
value- and debt-to-income ratios; bankruptcy or foreclosure status; and 
other detailed loan information.
    Also, in order to match senior and junior lien residential 
mortgages on the same collateral, the OCC also would collect additional 
information on the residential mortgage loans reported in Domestic 
First Lien Residential Mortgage and the Domestic Residential Home 
Equity Lending datasets. This data would include: Property and mailing 
address (not limited to any particular individual), census tract, 
liquidation status, and original lien position. By matching the senior 
and junior liens by property ID, the OCC would gain better insight into 
the level of risk of both credit types. The data is subject to an 
information sharing program to ensure its confidentiality.
    Type of Review: Regular review.
    Affected Public: Businesses or other for-profit.
    Estimated Number of Respondents: 61.
    Estimated Annual Responses per Respondent: 12 per year.
    Estimated Burden per Response: 430.
    Estimated Total Annual Burden: 314,760 hours.
    An agency may not conduct or sponsor, and a respondent is not 
required to respond to, an information collection unless the 
information collection displays a currently valid OMB control number.
    The OCC published a notice regarding this collection on September 
5, 2014, for 60 days of comment (79 FR 53103). The OCC received two 
comments regarding the collection, one from an industry trade 
association and one from an individual.
    The industry trade association acknowledged that, while the notice 
provided a general description of the data requested, it did not 
include specific data templates. In addition, it was not clear to the 
commenter which national banks would be subject to the data collection, 
the timeframe for submission, and the effective date of the collection. 
The commenter stated that, absent these details, members of the trade 
group are unable to provide input on the utility and burden of the 
collection. The commenter also suggested that the data collection might 
duplicate data that banking organizations already are providing to the 
Federal Reserve Board (FRB) in connection with the FR Y-14 reporting 
requirements and pointed out that the potential for duplication is 
especially relevant to national banks that are the dominant subsidiary 
in a holding company structure. The commenter recommended coordination 
of the data collection with the FRB to minimize duplicative or 
divergent reporting requirements. The commenter suggested that the OCC 
consider accepting data currently submitted to the FRB in connection 
with the FR Y-14 in satisfaction of the data collection or work with 
the FRB to establish a single set of data with identical file layouts 
and definitions. The commenter suggested, as an alternative, having the 
FRB add data elements to the FR Y-14 that designate whether a loan is 
part of the bank or a non-bank affiliate.
    The other commenter indicated that, as the vast majority loan-level 
data will not change month-over-month, the OCC should explain the 
importance of collecting this information on a monthly, rather than a 
quarterly basis. The commenter asserted that monthly collection is 
burdensome and its costs and benefits should be documented and 
justified. The commenter believed that the OCC should provide support 
that loan-level data, as opposed to pool-level data, significantly 
improves the OCC's ability to supervise credit risk. The

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commenter stated that the OCC should provide a safety and soundness 
justification for collecting very granular information, while asserting 
that loan[hyphen]level data contains the sensitive personal information 
of borrowers. The commenter believed that loan-level data is less 
secure and that the OCC should specify the controls that will ensure 
that the information is not improperly accessed or abused. In addition, 
the commenter requested that monthly submissions put national banks and 
Federal savings associations at a competitive disadvantage with state-
chartered institutions, which are not subject to the same requirements. 
The commenter noted that bank supervisors have historically monitored 
credit quality via regular onsite examinations and the monitoring of 
trends in basic metrics such as the level of past due loans, nonaccrual 
loans, criticized and classified loans, and troubled debt 
restructurings. The commenter suggested that the OCC provide an 
explanation as to why these methods are no longer sufficient without 
the addition of the proposed collection of monthly loan-level data.
    The request for copies of the data templates will be met by the 
Information Collection Request, which will be submitted to the Office 
of Management and Budget and made publicly available at 
www.reginfo.gov. Banks generally use monthly data for their own risk 
management and reporting purposes. However, consistent with the 
commenter's suggestion, the OCC is exploring collecting certain first 
lien mortgage data on a quarterly, rather than monthly basis. Based 
upon OCC's supervisory experience and knowledge of banks' reporting 
capabilities, collection of loan-level data, rather than pool-level 
data, is generally less burdensome for banks. Additionally, the OCC is 
required by 12 U.S.C. 1715z-25 to report loan-level mortgage metrics 
data to Congress. It is not sufficient for the OCC to monitor the 
credit quality of first lien mortgages solely through on-site 
examinations, rather than collecting loan-level mortgage data. The 
loan-level data collected is not linked with any particular individual 
and is subject to an information security program to ensure its 
confidentiality. The OCC has worked with banks to develop a uniform set 
of loan-level mortgage data elements for purposes of monitoring the 
systemic risk of the first-lien mortgage business to the banking 
industry. Finally, the OCC understands the commenter's concerns about 
duplication and is actively exploring using the FRB's FR Y-14 data, 
where possible, in order to decrease banks' reporting burden.
    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 shall have 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: June 16, 2015.
Stuart E. Feldstein,
Director, Legislative and Regulatory Activities Division.
[FR Doc. 2015-15245 Filed 6-19-15; 8:45 am]
BILLING CODE 4810-33-P