Agency Information Collection Activities: Information Collection Renewal; Submission for OMB Review; Registration of Mortgage Loan Originators, 20911-20912 [2018-09779]

Download as PDF sradovich on DSK3GMQ082PROD with NOTICES Federal Register / Vol. 83, No. 89 / Tuesday, May 8, 2018 / Notices respective comments to OMB within 30 days of publication to best ensure having their full effect. 5 CFR 1320.12(c); see also 60 FR 44983, Aug. 29, 1995. The summaries below describe the nature of the information collection requirements (ICRs) and the expected burden. The requirements are being submitted for clearance by OMB as required by the PRA. Title: 49 U.S.C. Section 5320 Paul S. Sarbanes Transit in Parks. OMB Control Number: 2132–0574. Type of Request: Extension of a currently approved information collection. Abstract: Section 3021 of the Safe, Accountable, Flexible, Efficient Transportation Equity Act—A Legacy for Users (SAFETEA–LU), as amended, established the Paul S. Sarbanes Transit in Parks Program (Transit in Parks Program—49 U.S.C. 5320). The program was administered by FTA in partnership with the Department of the Interior (DOI) and the U.S. Department of Agriculture’s Forest Service. The program provided grants to Federal land management agencies that manage an eligible area, including but not limited to the National Park Service, the Fish and Wildlife Service, the Bureau of Land Management, the Forest Service, the Bureau of Reclamation; and State, tribal and local governments with jurisdiction over land in the vicinity of an eligible area, acting with the consent of a Federal land management agency, alone or in partnership with a Federal land management agency or other governmental or non-governmental participant. The purpose of the program was to provide for the planning and capital costs of alternative transportation systems that will enhance the protection of national parks and Federal lands; increase the enjoyment of visitors’ experience by conserving natural, historical, and cultural resources; reduce congestion and pollution; improve visitor mobility and accessibility; enhance visitor experience; and ensure access to all, including persons with disabilities. The Paul S. Sarbanes Transit in the Parks program was repealed under the Moving Ahead for Progress in the 21st Century Act (MAP–21). However, funds previously authorized for programs repealed by MAP–21 remain available for their originally authorized purposes until the period of availability expires, the funds are fully expended, the funds are rescinded by Congress, or the funds are otherwise reallocated. VerDate Sep<11>2014 18:41 May 07, 2018 Jkt 244001 Annual Estimated Total Burden Hours: 50 hours. William Hyre, Deputy Associate Administrator for Administration. [FR Doc. 2018–09723 Filed 5–7–18; 8:45 am] BILLING CODE 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: 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 respondents are 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: June 7, 2018. ADDRESSES: Commenters are encouraged to submit comments by email, if possible. You may submit comments by any of the following methods: • Email: prainfo@occ.treas.gov. • Mail: Legislative and Regulatory Activities Division, Office of the Comptroller of the Currency, Attention: 1557–0243, 400 7th Street SW, Suite 3E–218, Washington, DC 20219. • Hand Delivery/Courier: 400 7th Street SW, Suite 3E–218, Washington, DC 20219. • Fax: (571) 465–4326. Instructions: You must include ‘‘OCC’’ as the agency name and ‘‘1557– 0243’’ in your comment. In general, the OCC will publish them on www.reginfo.gov without change, SUMMARY: PO 00000 Frm 00125 Fmt 4703 Sfmt 4703 20911 including any business or personal information that you provide, such as name and address information, email addresses, or phone numbers. 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. You may review comments and other related materials that pertain to this information collection 1 following the close of the 30-Day comment period for this notice by any of the following methods: • Viewing Comments Electronically: Go to www.reginfo.gov. Click on the ‘‘Information Collection Review’’ tab. Underneath the ‘‘Currently under Review’’ section heading, from the dropdown menu, select ‘‘Department of Treasury’’ and then click ‘‘submit.’’ This information collection can be located by searching by OMB control number ‘‘1557–0243’’ or ‘‘Registration of Mortgage Loan Originators.’’ Upon finding the appropriate information collection, click on the related ‘‘ICR Reference Number.’’ On the next screen, select ‘‘View Supporting Statement and Other Documents’’ and then click on the link to any comment listed at the bottom of the screen. • For assistance in navigating www.reginfo.gov, please contact the Regulatory Information Service Center at (202) 482–7340. • Viewing Comments Personally: You may personally inspect comments at the OCC, 400 7th Street SW, Washington, DC. 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 hearing impaired, 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 comments. FOR FURTHER INFORMATION CONTACT: Shaquita Merritt, OCC Clearance Officer, (202) 649–5490 or, for persons 1 On February 6, 2018, the OCC published a 60Day notice for this information collection. The comments can be viewed on www.reginfo.gov. Please follow the instructions listed in this notice to view them. E:\FR\FM\08MYN1.SGM 08MYN1 sradovich on DSK3GMQ082PROD with NOTICES 20912 Federal Register / Vol. 83, No. 89 / Tuesday, May 8, 2018 / Notices who are deaf or hearing impaired, 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. 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. The OCC is requesting that OMB extend its approval of the following collection. Title: Registration of Mortgage Loan Originators. OMB Number: 1557–0243. Description: The Secure and Fair Enforcement for Mortgage Licensing Act (the S.A.F.E. Act) 2 requires an employee of a bank, savings association, or credit union and their subsidiaries regulated by a federal banking agency or an employee of an institution regulated by the Farm Credit Administration (FCA) (collectively, 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. Institutions must require their employees who act as residential MLOs to comply with the Act’s requirements to register and obtain a unique identifier and also adopt and follow written policies and procedures to assure compliance with these requirements. Among other things, 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, mortgage loan originators. Along with the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the National Credit Union Administration, and the Farm Credit Administration, the OCC issued a final rule implementing 2 The S.A.F.E. Act was enacted as part of the Housing and Economic Recovery Act of 2008, Public Law 110–289, Division A, Title V, sections 1501–1517, 122 Stat. 2654, 2810–2824 (July 30, 2008), codified at 12 U.S.C. 5101–5116. VerDate Sep<11>2014 18:41 May 07, 2018 Jkt 244001 the SAFE Act.3 The Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act), Public Law 111– 203, later transferred this rule to the Consumer Financial Protection Bureau (CFPB) and the CFPB republished this rule as 12 CFR part 1007.4 However, the OCC retains enforcement authority for this rule for national banks, federal savings associations and federal branches and agencies of foreign banks with total assets of $10 billion or less.5 MLO Reporting Requirements Except in situations where the de minimis exception applies, 12 CFR 1007.103 requires an employee of an institution who is engaged in the business of a MLO to register with the Registry, maintain and update such registration, and obtain a unique identifier. This section also requires an institution to require its MLO employees to comply with these requirements. Section 1007.103(d) sets forth the categories of information that an institution must require its employees to submit to the Registry or to submit on the employee’s behalf. This section also requires the employee to submit to the Registry an attestation as to the correctness of the information submitted and an authorization for the Registry to obtain further information. MLO Disclosure Requirement Section 1007.105(b) requires the MLO to provide the unique identifier to a consumer upon request, before acting as a mortgage loan originator, and through the originator’s initial written communication with a consumer, if any, whether on paper or electronically. 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 registration of one or more MLOs and annually thereafter. The institution also must update this information within 30 days of it becoming inaccurate. Employees of the institution who submit information to the Registry on behalf of the institution also must verify their identity and attest to the accuracy of the information submitted. Financial Institution Disclosure Requirements Section 1007.105(a) requires the institution to make the unique identifier 3 75 FR 44656 (July 28, 2010), as corrected in 75 FR 51623 (Aug. 23, 2010). 4 76 FR 78487 (Dec. 19, 2011). 5 See section 1025 of the Dodd-Frank Act, codified at 12 U.S.C. 5515. PO 00000 Frm 00126 Fmt 4703 Sfmt 4703 of MLO employees available to consumers in a manner and method practicable to the institution. Financial Institution Recordkeeping Requirements Section 1007.104 requires that an institution that employs MLOs to 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. Type of Review: Regular. Affected Public: Individuals; Businesses or other for-profit. Estimated Number of Respondents: 85,353. Estimated Total Annual Burden: 51,384 hours. The OCC issued a notice for 60 days of comment regarding this collection on February 6, 2018, 83 FR 5293. 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: May 2, 2018. Karen Solomon, Acting Senior Deputy Comptroller and Chief Counsel. [FR Doc. 2018–09779 Filed 5–7–18; 8:45 am] BILLING CODE 4810–33–P DEPARTMENT OF THE TREASURY Internal Revenue Service Open Meeting of the Taxpayer Advocacy Panel Toll-Free Phone Line Project Committee Internal Revenue Service (IRS), Treasury. ACTION: Notice of meeting. AGENCY: An open meeting of the Taxpayer Advocacy Panel Toll-Free Phone Line Project Committee will be SUMMARY: E:\FR\FM\08MYN1.SGM 08MYN1

Agencies

[Federal Register Volume 83, Number 89 (Tuesday, May 8, 2018)]
[Notices]
[Pages 20911-20912]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2018-09779]


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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: 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 respondents are 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: June 7, 2018.

ADDRESSES: Commenters are encouraged to submit comments by email, if 
possible. You may submit comments by any of the following methods:
     Email: [email protected].
     Mail: Legislative and Regulatory Activities Division, 
Office of the Comptroller of the Currency, Attention: 1557-0243, 400 
7th Street SW, Suite 3E-218, Washington, DC 20219.
     Hand Delivery/Courier: 400 7th Street SW, Suite 3E-218, 
Washington, DC 20219.
     Fax: (571) 465-4326.
    Instructions: You must include ``OCC'' as the agency name and 
``1557-0243'' in your comment. In general, the OCC will publish them on 
www.reginfo.gov without change, including any business or personal 
information that you provide, such as name and address information, 
email addresses, or phone numbers. 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 
[email protected].
    You may review comments and other related materials that pertain to 
this information collection \1\ following the close of the 30-Day 
comment period for this notice by any of the following methods:
---------------------------------------------------------------------------

    \1\ On February 6, 2018, the OCC published a 60-Day notice for 
this information collection. The comments can be viewed on 
www.reginfo.gov. Please follow the instructions listed in this 
notice to view them.
---------------------------------------------------------------------------

     Viewing Comments Electronically: Go to www.reginfo.gov. 
Click on the ``Information Collection Review'' tab. Underneath the 
``Currently under Review'' section heading, from the drop-down menu, 
select ``Department of Treasury'' and then click ``submit.'' This 
information collection can be located by searching by OMB control 
number ``1557-0243'' or ``Registration of Mortgage Loan Originators.'' 
Upon finding the appropriate information collection, click on the 
related ``ICR Reference Number.'' On the next screen, select ``View 
Supporting Statement and Other Documents'' and then click on the link 
to any comment listed at the bottom of the screen.
     For assistance in navigating www.reginfo.gov, please 
contact the Regulatory Information Service Center at (202) 482-7340.
     Viewing Comments Personally: You may personally inspect 
comments at the OCC, 400 7th Street SW, Washington, DC. 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 hearing impaired, 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 
comments.

FOR FURTHER INFORMATION CONTACT: Shaquita Merritt, OCC Clearance 
Officer, (202) 649-5490 or, for persons

[[Page 20912]]

who are deaf or hearing impaired, 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.

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. The OCC is 
requesting that OMB extend its approval of the following collection.
    Title: Registration of Mortgage Loan Originators.
    OMB Number: 1557-0243.
    Description: The Secure and Fair Enforcement for Mortgage Licensing 
Act (the S.A.F.E. Act) \2\ requires an employee of a bank, savings 
association, or credit union and their subsidiaries regulated by a 
federal banking agency or an employee of an institution regulated by 
the Farm Credit Administration (FCA) (collectively, 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. Institutions must require 
their employees who act as residential MLOs to comply with the Act's 
requirements to register and obtain a unique identifier and also adopt 
and follow written policies and procedures to assure compliance with 
these requirements.
---------------------------------------------------------------------------

    \2\ The S.A.F.E. Act was enacted as part of the Housing and 
Economic Recovery Act of 2008, Public Law 110-289, Division A, Title 
V, sections 1501-1517, 122 Stat. 2654, 2810-2824 (July 30, 2008), 
codified at 12 U.S.C. 5101-5116.
---------------------------------------------------------------------------

    Among other things, 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, 
mortgage loan originators.
    Along with the Board of Governors of the Federal Reserve System, 
the Federal Deposit Insurance Corporation, the National Credit Union 
Administration, and the Farm Credit Administration, the OCC issued a 
final rule implementing the SAFE Act.\3\ The Dodd-Frank Wall Street 
Reform and Consumer Protection Act (Dodd-Frank Act), Public Law 111-
203, later transferred this rule to the Consumer Financial Protection 
Bureau (CFPB) and the CFPB republished this rule as 12 CFR part 
1007.\4\ However, the OCC retains enforcement authority for this rule 
for national banks, federal savings associations and federal branches 
and agencies of foreign banks with total assets of $10 billion or 
less.\5\
---------------------------------------------------------------------------

    \3\ 75 FR 44656 (July 28, 2010), as corrected in 75 FR 51623 
(Aug. 23, 2010).
    \4\ 76 FR 78487 (Dec. 19, 2011).
    \5\ See section 1025 of the Dodd-Frank Act, codified at 12 
U.S.C. 5515.
---------------------------------------------------------------------------

MLO Reporting Requirements

    Except in situations where the de minimis exception applies, 12 CFR 
1007.103 requires an employee of an institution who is engaged in the 
business of a MLO to register with the Registry, maintain and update 
such registration, and obtain a unique identifier. This section also 
requires an institution to require its MLO employees to comply with 
these requirements. Section 1007.103(d) sets forth the categories of 
information that an institution must require its employees to submit to 
the Registry or to submit on the employee's behalf. This section also 
requires the employee to submit to the Registry an attestation as to 
the correctness of the information submitted and an authorization for 
the Registry to obtain further information.

MLO Disclosure Requirement

    Section 1007.105(b) requires the MLO to provide the unique 
identifier to a consumer upon request, before acting as a mortgage loan 
originator, and through the originator's initial written communication 
with a consumer, if any, whether on paper or electronically.

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 registration of one or more MLOs and annually 
thereafter. The institution also must update this information within 30 
days of it becoming inaccurate. Employees of the institution who submit 
information to the Registry on behalf of the institution also must 
verify their identity and attest to the accuracy of the information 
submitted.

 Financial Institution Disclosure Requirements

    Section 1007.105(a) requires the institution to make the unique 
identifier of MLO employees available to consumers in a manner and 
method practicable to the institution.

Financial Institution Recordkeeping Requirements

    Section 1007.104 requires that an institution that employs MLOs to 
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.
    Type of Review: Regular.
    Affected Public: Individuals; Businesses or other for-profit.
    Estimated Number of Respondents: 85,353.
    Estimated Total Annual Burden: 51,384 hours.
    The OCC issued a notice for 60 days of comment regarding this 
collection on February 6, 2018, 83 FR 5293. 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: May 2, 2018.
Karen Solomon,
Acting Senior Deputy Comptroller and Chief Counsel.
[FR Doc. 2018-09779 Filed 5-7-18; 8:45 am]
 BILLING CODE 4810-33-P