Agency Information Collection Activities: Information Collection Revisions; Comment Request; Regulation C; Fair Housing Home Loan Data System Regulation, 44873-44875 [2017-20530]
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Federal Register / Vol. 82, No. 185 / Tuesday, September 26, 2017 / Notices
cites the Transportation Security
Administration’s warning to truckers
that vehicles transporting HM are
‘‘targets of choice’’ for terrorists and
thus should not be parked en route.
Second, NTTC cites a regulation of the
Pipeline and Hazardous Materials Safety
Administration (US DOT) stating that
‘‘[a]ll shipments of hazardous materials
must be transported without
unnecessary delay, from and including
the time of commencement of the
loading of the hazardous material until
its final unloading at destination’’ (49
CFR 177.800(d)). For these reasons,
NTTC believes that its drivers should
not be required to take a rest break when
they discover that they are no longer
eligible for the short-haul exemption.
NTTC seeks exemption for the
maximum period of 5 years. A copy of
NTTC’s application for exemption is
available in the docket of this matter.
Issued on: September 18, 2017
Larry W. Minor,
Associate Administrator for Policy.
[FR Doc. 2017–20525 Filed 9–25–17; 8:45 am]
BILLING CODE 4910–EX–P
DEPARTMENT OF THE TREASURY
Office of the Comptroller of the
Currency
Agency Information Collection
Activities: Information Collection
Revisions; Comment Request;
Regulation C; Fair Housing Home Loan
Data System Regulation
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).
An agency 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 revisions of information
collections titled ‘‘Regulation C’’ and
‘‘Fair Housing Home Loan Data System
Regulation.’’
DATES: Comments must be submitted on
or before November 27, 2017.
ADDRESSES: Because paper mail in the
Washington, DC area and at the OCC is
SUMMARY:
VerDate Sep<11>2014
18:28 Sep 25, 2017
Jkt 241001
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:
1557–0176; 1557–0159, 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 or, for persons who are
deaf or hard of hearing, TTY, (202) 649–
5597. Upon arrival, visitors will be
required to present valid governmentissued 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.
FOR FURTHER INFORMATION CONTACT:
Shaquita Merritt, OCC Clearance
Officer, (202) 649–5490 or, 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: Under the
PRA (44 U.S.C. 3501–3520), Federal
agencies must obtain approval from the
OMB for each collection of information
that they conduct or sponsor.
‘‘Collection of information’’ is defined
in 44 U.S.C. 3502(3) and 5 CFR
1320.3(c) to include agency requests or
requirements that members of the public
submit reports, keep records, or provide
information to a third party. Section
3506(c)(2)(A) of title 44 requires Federal
agencies to provide a 60-day notice in
the Federal Register concerning each
proposed collection of information,
including each proposed revision of an
existing collection of information,
before submitting the collection to OMB
for approval. To comply with this
requirement, the OCC is publishing this
notice.
Titles: Regulation C; Fair Housing
Home Loan Data System Regulation.
OMB Control Nos.: 1557–0176; 1557–
0159.
Type of Review: Regular review.
PO 00000
Frm 00115
Fmt 4703
Sfmt 4703
44873
Description: Regulation C,1 which
implements the Home Mortgage
Disclosure Act 2 (HMDA) enacted in
1975, requires certain depository and
non-depository institutions that make
certain mortgage loans to collect, report,
and disclose data about originations and
purchases of mortgage loans, as well as
loan applications that do not result in
originations. HMDA generates loan data
that can be used to: (1) Help determine
whether financial institutions are
serving the housing needs of their
communities; (2) assist public officials
in distributing public-sector
investments so as to attract private
investment to areas where it is needed;
and (3) assist in identifying possible
discriminatory lending patterns and
enforcing anti-discrimination statutes.
The Dodd-Frank Wall Street Reform
and Consumer Protection Act of 2010 3
(the Dodd-Frank Act) transferred HMDA
and its rulemaking authority from the
Board of Governors of the Federal
Reserve System (Board) to the Consumer
Financial Protection Bureau (CFPB), and
transferred supervisory and enforcement
authority for HMDA for depository
institutions over $10 billion in
consolidated assets from the Board,
Federal Deposit Insurance Corporation,
OCC, and National Credit Union
Administration to the CFPB.
The CFPB published a final rule on
October 28, 2015, that expanded the
data collected and reported under
HMDA, as implemented by Regulation
C, and published a final rule on
September 13, 2017, with additional
corrections and clarifications (final
rules). The final rules also modified the
types of lenders and loans covered
under Regulation C. First, for data
collected in 2017, and reported in 2018,
the rule simply reduces the number of
institutions covered under Regulation C
because only depositories originating
more than 25 closed end loans must
report. Then, starting January 1, 2018,
an institution will collect expanded data
under HMDA if it either originates 25 or
more closed-end mortgage loans or 500
or more open-end lines of credit secured
by a dwelling in each of the two
preceding years, in addition to meeting
other criteria. These institutions will
begin reporting the expanded HMDA
data in 2019. Starting in 2020, an
institution will collect data on open-end
lines of credit if it originates more than
100 open-end lines of credit secured by
a dwelling in each of the two preceding
years (and report that open-end lines of
credit data beginning in 2021). An
1 12
CFR part 1003.
U.S.C. 2801–2811.
3 Public Law 111–203, July 21, 2010.
2 12
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26SEN1
44874
Federal Register / Vol. 82, No. 185 / Tuesday, September 26, 2017 / Notices
institution also will collect and report
covered loans and applications
quarterly if it received a total of at least
60,000 covered loans and applications
in the preceding calendar year. An
institution must report a covered loan if
it has met the loan origination threshold
for that loan category (open-end or
closed-end); an institution that is not
required to report data may voluntarily
do so.
In addition, the types of loans covered
under Regulation C will change under
the final rules beginning in 2018.
Covered institutions will be required to
collect and report any mortgage loan
secured by a dwelling, including openend lines of credit, regardless of the
loan’s purpose. Dwelling-secured loans
that are made principally for a
commercial or business purpose, as well
as agricultural—purpose loans and other
specified loans will be excluded.
HMDA requires covered institutions
to collect, record, report, and disclose
information about their mortgage
lending activity. Currently, Regulation C
requires a covered institution to collect
and report data about:
• Each application or loan, including
the application date; the action taken
and the date of that action; the loan
amount; the loan type (for example,
government guaranteed or not) and
purpose (for example, home purchase);
and, if the loan is sold, the type of
purchaser;
• Each applicant or borrower,
including ethnicity, race, sex, and
income; and
• Each property, including location
and occupancy status.
Beginning in 2018, the final rules will
require collection of additional data,
which covered institutions will report
in 2019:
• Additional information about the
applicant or borrower, such as age and
credit score;
• Information about the loan pricing,
such as the borrower’s total cost to
obtain a mortgage, temporary
introductory rates, and borrower-paid
origination charges;
• Information about loan features,
such as the loan term, prepayment
penalties, or non-amortizing features
(such as interest only or balloon
payments); and
• Additional information about
property securing the loan, such as
property value and property type.
In addition, existing requirements,
including the requirements for
collection and reporting of information
regarding an applicant’s or borrower’s
ethnicity, race and sex are being
amended.
VerDate Sep<11>2014
18:28 Sep 25, 2017
Jkt 241001
The Fair Housing Act 4 prohibits
discrimination in the financing of
housing on the basis of race, color,
religion, sex, national origin, familial
status, or handicap. The Equal Credit
Opportunity Act 5 (ECOA) prohibits
discrimination in any aspect of a credit
transaction on the basis of race, color,
religion, national origin, sex, marital
status, age, receipt of income from
public assistance, or exercise of any
right under the Consumer Credit
Protection Act 6 (CCPA). The OCC is
responsible for ensuring that national
banks and federal savings associations
comply with those laws. This
information collection is needed to
promote compliance and for the OCC to
fulfill its statutory responsibilities.
The OCC uses the data collected
pursuant to part 27 to determine
whether an institution treated
applicants consistently and made credit
decisions commensurate with the
applicants’ qualifications and in
compliance with the ECOA and the Fair
Housing Act.
The information collection
requirements in part 27 are as follows:
• 12 CFR 27.3(a) requires national
banks that are required to collect data
on home loans under Regulation C 7 to
present the data on Form FR HMDA–
LAR,8 or in automated format in
accordance with the HMDA–LAR
instructions. Section 27.3(a) also lists
exceptions to the HMDA–LAR
recordkeeping requirements. Federal
savings associations are also required to
report this information to the OCC
pursuant to 12 CFR 128.6 and
Regulation C.
• 12 CFR 27.3(b) lists the information
national banks shall attempt to obtain
from an applicant as part of a home loan
application and sets forth the
information that banks must disclose to
an applicant.
• 12 CFR 27.3(c) sets forth additional
information national banks must
maintain in the loan file.
• 12 CFR 27.4 states that the OCC
may require a national bank to maintain
a Fair Housing Inquiry/Application Log
found in Appendix III to part 27 if there
is reason to believe that the bank is
engaging in discriminatory practices or
if analysis of the data compiled by the
bank under the Home Mortgage
Disclosure Act (12 U.S.C. 2801 et seq.)
and Regulation C indicates a pattern of
significant variation in the number of
4 42
U.S.C. 3605.
U.S.C. 1691 et seq.
6 15 U.S.C. 1601 et seq.
7 This regulation has been transferred to the CFPB
(12 CFR part 1003).
8 Loan Application Register, https://www.ffiec.gov/
hmda/pdf/hmdalar2011.pdf.
5 15
PO 00000
Frm 00116
Fmt 4703
Sfmt 4703
home loans between census tracts with
similar incomes and home ownership
levels differentiated only by race or
national origin. Section 27.4(a)(2) also
requires a log if complaints filed with
the Comptroller or letters in the
Community Reinvestment Act file are
found to be substantive in nature,
indicating that the bank’s home lending
practices are, or may be, discriminatory.
• 12 CFR 27.5 requires a national
bank to maintain the information
required by § 27.3 for 25 months after
the bank notifies the applicant of action
taken on an application or after
withdrawal of an application.
• 12 CFR 27.7 requires a national
bank to submit the information required
by §§ 27.3(a) and 27.4 to the OCC upon
its request prior to a scheduled
examination using the Monthly Home
Loan Activity Format form in Appendix
I to part 27 and the Home Loan Data
Form in Appendix IV to part 27. Section
27.7(c)(3) states that a bank with fewer
than 75 home loan applications in the
preceding year will not be required to
submit such forms unless the home loan
activity is concentrated in the few
months preceding the request for data,
indicating the likelihood of increased
activity over the subsequent year, or
there is cause to believe that a bank is
not in compliance with the fair housing
laws based on prior examinations and/
or complaints, among other factors.
• § 27.7(d) provides that if there is
cause to believe that a bank is in
noncompliance with fair housing laws,
the Comptroller may require submission
of additional Home Loan Data
Submission Forms. The Comptroller
may also require submission of the
information maintained under § 27.3(a)
and Home Loan Data Submission Forms
at more frequent intervals.
OCC-regulated institutions have
access to a CFPB-developed web-based
data submission and edit-check system
(the HMDA Platform) that may be used
to process HMDA data. Some
institutions, typically those with small
volumes of reported loans or those that
do not use a vendor or other software to
prepare their HMDA data for
submission, still need to use a software
solution for integrating HMDA data
from paper records or electronic
systems. Therefore, the CFPB created a
prototype ‘‘LAR Formatting Tool’’
which will allow financial institutions
with small volumes of reported loans, or
those that do not use a vendor or other
software to prepare their HMDA data for
submission, to enter HMDA data and to
create a pipe delimited text file to
upload to the HMDA Platform. The
institution can then proceed through the
E:\FR\FM\26SEN1.SGM
26SEN1
Federal Register / Vol. 82, No. 185 / Tuesday, September 26, 2017 / Notices
interactive Web pages of the HMDA
Platform to process HMDA data.
Affected Public: Businesses or other
for-profit.
Burden Estimates:
Regulation C:
2017:
Estimated Number of Respondents:
702.
Estimated Annual Burden: 3,384,342
hours.
2018:
Estimated Number of Respondents:
702.
Estimated Annual Burden: 959,232
hours.
2019:
Estimated Number of Respondents:
702.
Estimated Annual Burden: 959,232
hours.
Fair Housing Home Loan Data System
Regulation:
Estimated Number of Respondents:
956.
Estimated Annual Burden: 19,864
hours.
Frequency of Response: On occasion.
Comments: Comments submitted in
response to this notice will be
summarized and included in the request
for OMB approval. All comments will
become a matter of public record.
Comments are invited on:
(a) Whether the collections of
information are 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
estimates of the information collection
burden;
(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: September 20, 2017.
Karen Solomon,
Deputy Chief Counsel, Office of the
Comptroller of the Currency.
[FR Doc. 2017–20530 Filed 9–25–17; 8:45 am]
BILLING CODE 4810–33–P
VerDate Sep<11>2014
18:28 Sep 25, 2017
Jkt 241001
DEPARTMENT OF THE TREASURY
Office of the Comptroller of the
Currency
Agency Information Collection
Requirements: Information Collection
Renewal; Comment Request; Debt
Cancellation Contracts and Debt
Suspension Agreements
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.
Currently, the OCC is soliciting
comment concerning the renewal of an
information collection titled ‘‘Debt
Cancellation Contracts and Debt
Suspension Agreements.’’
DATES: You should submit written
comments by: November 27, 2017.
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:
1557–0224, 400 7th Street SW., Suite
3E–218, 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 or, for persons who are
deaf or hard of hearing, TTY, (202) 649–
5597. Upon arrival, visitors will be
required to present valid governmentissued 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
SUMMARY:
PO 00000
Frm 00117
Fmt 4703
Sfmt 4703
44875
you consider confidential or
inappropriate for public disclosure.
FOR FURTHER INFORMATION CONTACT:
Shaquita Merritt, OCC Clearance
Officer, (202) 649–5490 or, 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., Suite 3E–218, Washington,
DC 20219.
Under the
PRA (44 U.S.C. 3501–3520), federal
agencies must obtain approval from
OMB for each collection of information
they conduct or sponsor. ‘‘Collection of
information’’ is defined in 44 U.S.C.
3502(3) and 5 CFR 1320.3(c) to include
agency requests or requirements that
members of the public submit reports,
keep records, or provide information to
a third party. Section 3506(c)(2)(A) of
title 44 (44 U.S.C. 3506(c)(2)(A))
requires federal agencies to provide a
60-day notice in the Federal Register
concerning each proposed collection of
information, including each proposed
extension of an existing collection of
information, before submitting the
collection to OMB for approval. To
comply with this requirement, the OCC
is publishing notice of the renewal of
the information collection set forth in
this document.
Title: Debt Cancellation Contracts and
Debt Suspension Agreements.
OMB Control No.: 1557–0224.
Description: Twelve U.S.C.
24(Seventh) authorizes a national bank
(bank) to enter into Debt Cancellation
Contracts (DCCs) and Debt Suspension
Agreements (DSAs). Part 37 requires
banks to disclose information about a
DCC or a DSA using either a short or
long form disclosure. The short form
disclosure usually is made orally and
issued at the time a bank first solicits
the purchase of a contract. The long
form disclosure usually is made in
writing and issued before the customer
completes the purchase of the contract.
There are special rules for transactions
by telephone, solicitations using written
mail inserts or ‘‘take one’’ applications,
and electronic transactions. Part 37
provides two forms of disclosure that
serve as models for satisfying the
requirements of the rule. Use of the
forms is not mandatory, and the
regulation permits a bank to adjust the
form and wording of its disclosures so
long as it meets the applicable
requirements. The requirements of part
37 enhance consumer protections for
customers who purchase DCCs and
DSAs from banks and ensure that banks
offer these products in a safe and sound
SUPPLEMENTARY INFORMATION:
E:\FR\FM\26SEN1.SGM
26SEN1
]]>Agencies
[Federal Register Volume 82, Number 185 (Tuesday, September 26, 2017)]
[Notices]
[Pages 44873-44875]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2017-20530]
=======================================================================
-----------------------------------------------------------------------
DEPARTMENT OF THE TREASURY
Office of the Comptroller of the Currency
Agency Information Collection Activities: Information Collection
Revisions; Comment Request; Regulation C; Fair Housing Home Loan Data
System Regulation
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).
An agency 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 revisions of
information collections titled ``Regulation C'' and ``Fair Housing Home
Loan Data System Regulation.''
DATES: Comments must be submitted on or before November 27, 2017.
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: 1557-0176; 1557-0159, 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 or, for persons who are deaf or hard of
hearing, TTY, (202) 649-5597. 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.
FOR FURTHER INFORMATION CONTACT: Shaquita Merritt, OCC Clearance
Officer, (202) 649-5490 or, 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: Under the PRA (44 U.S.C. 3501-3520), Federal
agencies must obtain approval from the OMB for each collection of
information that they conduct or sponsor. ``Collection of information''
is defined in 44 U.S.C. 3502(3) and 5 CFR 1320.3(c) to include agency
requests or requirements that members of the public submit reports,
keep records, or provide information to a third party. Section
3506(c)(2)(A) of title 44 requires Federal agencies to provide a 60-day
notice in the Federal Register concerning each proposed collection of
information, including each proposed revision of an existing collection
of information, before submitting the collection to OMB for approval.
To comply with this requirement, the OCC is publishing this notice.
Titles: Regulation C; Fair Housing Home Loan Data System
Regulation.
OMB Control Nos.: 1557-0176; 1557-0159.
Type of Review: Regular review.
Description: Regulation C,\1\ which implements the Home Mortgage
Disclosure Act \2\ (HMDA) enacted in 1975, requires certain depository
and non-depository institutions that make certain mortgage loans to
collect, report, and disclose data about originations and purchases of
mortgage loans, as well as loan applications that do not result in
originations. HMDA generates loan data that can be used to: (1) Help
determine whether financial institutions are serving the housing needs
of their communities; (2) assist public officials in distributing
public-sector investments so as to attract private investment to areas
where it is needed; and (3) assist in identifying possible
discriminatory lending patterns and enforcing anti-discrimination
statutes.
---------------------------------------------------------------------------
\1\ 12 CFR part 1003.
\2\ 12 U.S.C. 2801-2811.
---------------------------------------------------------------------------
The Dodd-Frank Wall Street Reform and Consumer Protection Act of
2010 \3\ (the Dodd-Frank Act) transferred HMDA and its rulemaking
authority from the Board of Governors of the Federal Reserve System
(Board) to the Consumer Financial Protection Bureau (CFPB), and
transferred supervisory and enforcement authority for HMDA for
depository institutions over $10 billion in consolidated assets from
the Board, Federal Deposit Insurance Corporation, OCC, and National
Credit Union Administration to the CFPB.
---------------------------------------------------------------------------
\3\ Public Law 111-203, July 21, 2010.
---------------------------------------------------------------------------
The CFPB published a final rule on October 28, 2015, that expanded
the data collected and reported under HMDA, as implemented by
Regulation C, and published a final rule on September 13, 2017, with
additional corrections and clarifications (final rules). The final
rules also modified the types of lenders and loans covered under
Regulation C. First, for data collected in 2017, and reported in 2018,
the rule simply reduces the number of institutions covered under
Regulation C because only depositories originating more than 25 closed
end loans must report. Then, starting January 1, 2018, an institution
will collect expanded data under HMDA if it either originates 25 or
more closed-end mortgage loans or 500 or more open-end lines of credit
secured by a dwelling in each of the two preceding years, in addition
to meeting other criteria. These institutions will begin reporting the
expanded HMDA data in 2019. Starting in 2020, an institution will
collect data on open-end lines of credit if it originates more than 100
open-end lines of credit secured by a dwelling in each of the two
preceding years (and report that open-end lines of credit data
beginning in 2021). An
[[Page 44874]]
institution also will collect and report covered loans and applications
quarterly if it received a total of at least 60,000 covered loans and
applications in the preceding calendar year. An institution must report
a covered loan if it has met the loan origination threshold for that
loan category (open-end or closed-end); an institution that is not
required to report data may voluntarily do so.
In addition, the types of loans covered under Regulation C will
change under the final rules beginning in 2018. Covered institutions
will be required to collect and report any mortgage loan secured by a
dwelling, including open-end lines of credit, regardless of the loan's
purpose. Dwelling-secured loans that are made principally for a
commercial or business purpose, as well as agricultural--purpose loans
and other specified loans will be excluded.
HMDA requires covered institutions to collect, record, report, and
disclose information about their mortgage lending activity. Currently,
Regulation C requires a covered institution to collect and report data
about:
Each application or loan, including the application date;
the action taken and the date of that action; the loan amount; the loan
type (for example, government guaranteed or not) and purpose (for
example, home purchase); and, if the loan is sold, the type of
purchaser;
Each applicant or borrower, including ethnicity, race,
sex, and income; and
Each property, including location and occupancy status.
Beginning in 2018, the final rules will require collection of
additional data, which covered institutions will report in 2019:
Additional information about the applicant or borrower,
such as age and credit score;
Information about the loan pricing, such as the borrower's
total cost to obtain a mortgage, temporary introductory rates, and
borrower-paid origination charges;
Information about loan features, such as the loan term,
prepayment penalties, or non-amortizing features (such as interest only
or balloon payments); and
Additional information about property securing the loan,
such as property value and property type.
In addition, existing requirements, including the requirements for
collection and reporting of information regarding an applicant's or
borrower's ethnicity, race and sex are being amended.
The Fair Housing Act \4\ prohibits discrimination in the financing
of housing on the basis of race, color, religion, sex, national origin,
familial status, or handicap. The Equal Credit Opportunity Act \5\
(ECOA) prohibits discrimination in any aspect of a credit transaction
on the basis of race, color, religion, national origin, sex, marital
status, age, receipt of income from public assistance, or exercise of
any right under the Consumer Credit Protection Act \6\ (CCPA). The OCC
is responsible for ensuring that national banks and federal savings
associations comply with those laws. This information collection is
needed to promote compliance and for the OCC to fulfill its statutory
responsibilities.
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\4\ 42 U.S.C. 3605.
\5\ 15 U.S.C. 1691 et seq.
\6\ 15 U.S.C. 1601 et seq.
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The OCC uses the data collected pursuant to part 27 to determine
whether an institution treated applicants consistently and made credit
decisions commensurate with the applicants' qualifications and in
compliance with the ECOA and the Fair Housing Act.
The information collection requirements in part 27 are as follows:
12 CFR 27.3(a) requires national banks that are required
to collect data on home loans under Regulation C \7\ to present the
data on Form FR HMDA-LAR,\8\ or in automated format in accordance with
the HMDA-LAR instructions. Section 27.3(a) also lists exceptions to the
HMDA-LAR recordkeeping requirements. Federal savings associations are
also required to report this information to the OCC pursuant to 12 CFR
128.6 and Regulation C.
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\7\ This regulation has been transferred to the CFPB (12 CFR
part 1003).
\8\ Loan Application Register, https://www.ffiec.gov/hmda/pdf/hmdalar2011.pdf.
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12 CFR 27.3(b) lists the information national banks shall
attempt to obtain from an applicant as part of a home loan application
and sets forth the information that banks must disclose to an
applicant.
12 CFR 27.3(c) sets forth additional information national
banks must maintain in the loan file.
12 CFR 27.4 states that the OCC may require a national
bank to maintain a Fair Housing Inquiry/Application Log found in
Appendix III to part 27 if there is reason to believe that the bank is
engaging in discriminatory practices or if analysis of the data
compiled by the bank under the Home Mortgage Disclosure Act (12 U.S.C.
2801 et seq.) and Regulation C indicates a pattern of significant
variation in the number of home loans between census tracts with
similar incomes and home ownership levels differentiated only by race
or national origin. Section 27.4(a)(2) also requires a log if
complaints filed with the Comptroller or letters in the Community
Reinvestment Act file are found to be substantive in nature, indicating
that the bank's home lending practices are, or may be, discriminatory.
12 CFR 27.5 requires a national bank to maintain the
information required by Sec. 27.3 for 25 months after the bank
notifies the applicant of action taken on an application or after
withdrawal of an application.
12 CFR 27.7 requires a national bank to submit the
information required by Sec. Sec. 27.3(a) and 27.4 to the OCC upon its
request prior to a scheduled examination using the Monthly Home Loan
Activity Format form in Appendix I to part 27 and the Home Loan Data
Form in Appendix IV to part 27. Section 27.7(c)(3) states that a bank
with fewer than 75 home loan applications in the preceding year will
not be required to submit such forms unless the home loan activity is
concentrated in the few months preceding the request for data,
indicating the likelihood of increased activity over the subsequent
year, or there is cause to believe that a bank is not in compliance
with the fair housing laws based on prior examinations and/or
complaints, among other factors.
Sec. 27.7(d) provides that if there is cause to believe
that a bank is in noncompliance with fair housing laws, the Comptroller
may require submission of additional Home Loan Data Submission Forms.
The Comptroller may also require submission of the information
maintained under Sec. 27.3(a) and Home Loan Data Submission Forms at
more frequent intervals.
OCC-regulated institutions have access to a CFPB-developed web-
based data submission and edit-check system (the HMDA Platform) that
may be used to process HMDA data. Some institutions, typically those
with small volumes of reported loans or those that do not use a vendor
or other software to prepare their HMDA data for submission, still need
to use a software solution for integrating HMDA data from paper records
or electronic systems. Therefore, the CFPB created a prototype ``LAR
Formatting Tool'' which will allow financial institutions with small
volumes of reported loans, or those that do not use a vendor or other
software to prepare their HMDA data for submission, to enter HMDA data
and to create a pipe delimited text file to upload to the HMDA
Platform. The institution can then proceed through the
[[Page 44875]]
interactive Web pages of the HMDA Platform to process HMDA data.
Affected Public: Businesses or other for-profit.
Burden Estimates:
Regulation C:
2017:
Estimated Number of Respondents: 702.
Estimated Annual Burden: 3,384,342 hours.
2018:
Estimated Number of Respondents: 702.
Estimated Annual Burden: 959,232 hours.
2019:
Estimated Number of Respondents: 702.
Estimated Annual Burden: 959,232 hours.
Fair Housing Home Loan Data System Regulation:
Estimated Number of Respondents: 956.
Estimated Annual Burden: 19,864 hours.
Frequency of Response: On occasion.
Comments: Comments submitted in response to this notice will be
summarized and included in the request for OMB approval. All comments
will become a matter of public record. Comments are invited on:
(a) Whether the collections of information are 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 estimates of the information
collection burden;
(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: September 20, 2017.
Karen Solomon,
Deputy Chief Counsel, Office of the Comptroller of the Currency.
[FR Doc. 2017-20530 Filed 9-25-17; 8:45 am]
BILLING CODE 4810-33-P
