Registration of Mortgage Loan Originators

Forms and Documents

Document Name	Status
2012-23652.pdf Supplementary Document	2012-09-26
2012-07-24_notice_02.pdf Supplementary Document	2012-09-11
SPST-0171_(2012).doc Supporting Statement A	2012-09-11

IC Document Collections

IC ID	Document Title	Status
189226	Mortgage Loan Originator Procedures for Disclosure to Consumers of Unique Identifier	Modified
189225	Financial Institution Procedures for the Collection of Employee Mortgage Loan Originator's Fingerprints	Modified
189223	Mortgage Loan Originator Registration Updates Upon Change in Circumstances	Modified
189222	Mortgage Loan Originator Initial and Annual Renewal Registration Reporting and Authorization Requirements	Modified
189221	Financial Institution Information Reporting to Registry	Modified
189220	Financial Institution Procedures for Public Disclosure of Mortgage Loan Originator's Unique Identifier	Modified
189219	Financial Institution Procedures for the Collection and Maintenance of Employee Mortgage Loan Originator's Criminal History Background Reports	Modified
189218	Financial Institution Procedures to Track and Monitor Compliance with S.A.F.E. Act Compliance	Modified
189217	Financial Institution Policies and Procedures for Ensuring Employee-Mortgage Loan Originator Compliance With S.A.F.E. Act Requirements	Modified

ICR Details

OMB Control No: 3064-0171	ICR Reference No: 201207-3064-003
Status: Historical Active	Previous ICR Reference No: 201010-3064-001
Agency/Subagency: FDIC	Agency Tracking No:
Title: Registration of Mortgage Loan Originators
Type of Information Collection: Extension without change of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved without change	Conclusion Date: 11/01/2012
	Date Received in OIRA: 09/26/2012
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	11/30/2015	36 Months From Approved	10/31/2012
Responses	172,710	0	156,524
Time Burden (Hours)	608,867	0	2,065,453
Cost Burden (Dollars)	0	0	0

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Abstract: Implements the Secure and Fair Enforcement for Mortgage Licensing Act of 2008 (SAFE Act) requirement that employees of Federally-regulated institutions who engage in the business of a mortgage loan originator to register with the Nationwide Mortgage Licensing System and Registry and establishes national licensing and registration requirements. It also directs Federally-regulated institutions to have written policies and procedures in place to ensure that their employee who perform mortgage loan originations coomply with the registration and other SAFE Act requirements.

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Authorizing Statute(s): PL: Pub.L. 110 - 289 1501 Name of Law: S.A.F.E. Mortgage Licensing Act of 2008
  

Citations for New Statutory Requirements: PL: Pub.L. 110 - 289 1501 Name of Law: S.A.F.E. Mortgage Licensing Act

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
	Not associated with rulemaking

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Federal Register Notices & Comments
60-day Notice:	Federal Register Citation:	Citation Date:
	77 FR 43283	07/24/2012
30-day Notice:	Federal Register Citation:	Citation Date:
	77 FR 59192	09/26/2012
Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 9

IC Title	Form No.	Form Name
Financial Institution Policies and Procedures for Ensuring Employee-Mortgage Loan Originator Compliance With S.A.F.E. Act Requirements
Financial Institution Procedures to Track and Monitor Compliance with S.A.F.E. Act Compliance
Financial Institution Procedures for Public Disclosure of Mortgage Loan Originator's Unique Identifier
Financial Institution Procedures for the Collection and Maintenance of Employee Mortgage Loan Originator's Criminal History Background Reports
Mortgage Loan Originator Registration Updates Upon Change in Circumstances
Financial Institution Information Reporting to Registry
Mortgage Loan Originator Initial and Annual Renewal Registration Reporting and Authorization Requirements
Financial Institution Procedures for the Collection of Employee Mortgage Loan Originator's Fingerprints
Mortgage Loan Originator Procedures for Disclosure to Consumers of Unique Identifier

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ICR Summary of Burden

	Total Approved	Previously Approved	Change Due to New Statute	Change Due to Agency Discretion	Change Due to Adjustment in Estimate	Change Due to Potential Violation of the PRA
Annual Number of Responses	172,710	156,524	0	0	16,186	0
Annual Time Burden (Hours)	608,867	2,065,453	0	0	-1,456,586	0
Annual Cost Burden (Dollars)	0	0	0	0	0	0

Burden increases because of Program Change due to Agency Discretion: No

Burden Increase Due to:

Burden decreases because of Program Change due to Agency Discretion: No

Burden Reduction Due to:

Short Statement: The program change of -1,456,586 hours is an adjustment that reflects a decrease in the number of bank respondents, an increase in the number of mortgage loan originator respondents, and the removal of one-time burden hours for development of policies and procedures and reporting and recordkeeping systems for compliance with new requirements; the initial registration process; and development and implementation of new tracking systems to monitor compliance.

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Annual Cost to Federal Government: $0

Does this IC contain surveys, censuses, or employ statistical methods? No

Is the Supporting Statement intended to be a Privacy Impact Assessment required by the E-Government Act of 2002? No

Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]? No

Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]? No

Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)? No

Is this ICR related to the Pandemic Response? Uncollected

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Common Form ICR:  No

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On behalf of this Federal agency, I certify that the collection of information encompassed by this request complies with 5 CFR 1320.9 and the related provisions of 5 CFR 1320.8(b)(3).

The following is a summary of the topics, regarding the proposed collection of information, that the certification covers:

(a) It is necessary for the proper performance of agency functions;

(b) It avoids unnecessary duplication;

(c) It reduces burden on small entities;

(d) It uses plain, coherent, and unambiguous language that is understandable to respondents;

(e) Its implementation will be consistent and compatible with current reporting and recordkeeping practices;

(f) It indicates the retention periods for recordkeeping requirements;

(g) It informs respondents of the information called for under 5 CFR 1320.8 (b)(3) about:

(i) Why the information is being collected;

(ii) Use of information;

(iii) Burden estimate;

(iv) Nature of response (voluntary, required for a benefit, or mandatory);

(v) Nature and extent of confidentiality; and

(vi) Need to display currently valid OMB control number;

(h) It was developed by an office that has planned and allocated resources for the efficient and effective management and use of the information to be collected.

(i) It uses effective and efficient statistical survey methodology (if applicable); and

(j) It makes appropriate use of information technology.

If you are unable to certify compliance with any of these provisions, identify the item by leaving the box unchecked and explain the reason in the Supporting Statement.

Certification Date: 09/26/2012

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