Agency Information Collection Activities: Proposed Collection; Comment Request; Registration of Mortgage Loan Originators

• Published date: 20 November 2019
• Citation: 84 FR 64111
• Record Number: 2019-25119
• Section: Notices
• Court: National Credit Union Administration

Federal Register, Volume 84 Issue 224 (Wednesday, November 20, 2019)

[Federal Register Volume 84, Number 224 (Wednesday, November 20, 2019)]
                [Notices]
                [Pages 64111-64112]
                From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
                [FR Doc No: 2019-25119]
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                NATIONAL CREDIT UNION ADMINISTRATION
                Agency Information Collection Activities: Proposed Collection;
                Comment Request; Registration of Mortgage Loan Originators
                AGENCY: National Credit Union Administration (NCUA).
                ACTION: Notice and request for comment.
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                SUMMARY: The National Credit Union Administration (NCUA), as part of a
                continuing effort to reduce paperwork and respondent burden, invites
                the general public and other Federal agencies to comment on the
                following extension of a currently approved collection, as required by
                the Paperwork Reduction Act of 1995.
                DATES: Written comments should be received on or before January 21,
                2020 to be assured consideration.
                ADDRESSES: Interested persons are invited to submit written comments on
                the information collection to Dawn
                [[Page 64112]]
                Wolfgang, National Credit Union Administration, 1775 Duke Street, Suite
                6032, Alexandria, Virginia 22314; Fax No. 703-519-8579; or Email at
                [email protected].
                FOR FURTHER INFORMATION CONTACT: Address requests for additional
                information to Dawn Wolfgang at the address above or telephone 703-548-
                2279.
                SUPPLEMENTARY INFORMATION:
                 OMB Number: 3133-0181.
                 Title: Registration of Mortgage Loan Originators.
                 Type of Review: Extension of a currently approved.
                 Abstract: The Secure and Fair Enforcement for Mortgage Licensing
                Act (S.A.F.E. Act), 12 U.S.C. 5101 et seq., as codified by 12 CFR part
                1007, requires an employee of a bank, savings association, or credit
                union or a subsidiary 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. Agency-regulated institutions must also
                adopt and follow written policies and procedures to assure compliance
                with the S.A.F.E. Act. 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.
                 Affected Public: Private Sector: Not-for-profit institutions;
                Individuals or households.
                 Estimated No. of Respondents: 69,036.
                 Estimated No. of Responses per Respondent: 2.21.
                 Estimated Total Annual Responses: 154,733.
                 Estimated Burden Hours per Response: 0.43 per individual; 6.38 per
                institution.
                 Estimated Total Annual Burden Hours: 83,965.
                 Reason for Change: The number of respondents have been updated to
                reflect current data reported by the Registry and the NCUA call report.
                 Request for Comments: Comments submitted in response to this notice
                will be summarized and included in the request for Office of Management
                and Budget approval. All comments will become a matter of public
                record. The public is invited to submit comments concerning: (a)
                Whether the collection of information is necessary for the proper
                execution of the function of the agency, including whether the
                information will have practical utility; (b) the accuracy of the
                agency's estimate of the burden of the collection of information,
                including the validity of the methodology and assumptions used; (c)
                ways to enhance the quality, utility, and clarity of the information to
                be collected; and (d) ways to minimize the burden of the collection of
                the information on the respondents, including the use of automated
                collection techniques or other forms of information technology.
                 By Gerard Poliquin, Secretary of the Board, the National Credit
                Union Administration, on November 14, 2019.
                 Dated: November 15, 2019.
                Dawn D. Wolfgang,
                NCUA PRA Clearance Officer.
                [FR Doc. 2019-25119 Filed 11-19-19; 8:45 am]
                 BILLING CODE 7535-01-P