View Information Collection Request (ICR) Package
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View Information Collection (IC) List
View Supporting Statement and Other Documents
Please note that the OMB number and expiration date may not have been determined when this Information Collection Request and associated Information Collection forms were submitted to OMB. The approved OMB number and expiration date may be found by clicking on the Notice of Action link below.
View ICR - OIRA Conclusion
OMB Control No:
3064-0171
ICR Reference No:
200905-3064-003
Status:
Historical Inactive
Previous ICR Reference No:
Agency/Subagency:
FDIC
Agency Tracking No:
Title:
Registration of Mortgage Loan Originators
Type of Information Collection:
New collection (Request for a new OMB Control Number)
Common Form ICR:
No
Type of Review Request:
Regular
OIRA Conclusion Action:
Preapproved
Conclusion Date:
09/29/2009
Retrieve Notice of Action (NOA)
Date Received in OIRA:
06/09/2009
Terms of Clearance:
Pre-approval contingent upon no substantive changes to this collection after adoption of the final rule. Otherwise this collection should be re-submitted to OMB for review.
Inventory as of this Action
Requested
Previously Approved
Expiration Date
09/30/2012
36 Months From Approved
Responses
156,524
0
0
Time Burden (Hours)
2,065,453
0
0
Cost Burden (Dollars)
0
0
0
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.
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
Associated Rulemaking Information
RIN:
Stage of Rulemaking:
Federal Register Citation:
Date:
3133-AD59
Proposed rulemaking
74 FR 27386
06/09/2009
Federal Register Notices & Comments
Did the Agency receive public comments on this ICR?
No
Number of Information Collection (IC) in this ICR:
9
IC Title
Form No.
Form Name
Financial Institution Information Reporting to Registry
Financial Institution Policies and Procedures for Ensuring Employee-Mortgage Loan Originator Compliance With S.A.F.E. Act Requirements
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
Financial Institution Procedures for the Collection of Employee Mortgage Loan Originator's Fingerprints
Financial Institution Procedures to Track and Monitor Compliance with S.A.F.E. Act Compliance
Mortgage Loan Originator Initial and Annual Renewal Registration Reporting and Authorization Requirements
Mortgage Loan Originator Procedures for Disclosure to Consumers of Unique Identifier
Mortgage Loan Originator Registration Updates Upon Change in Circumstances
ICR Summary of Burden
Total Request
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
156,524
0
156,524
0
0
0
Annual Time Burden (Hours)
2,065,453
0
2,065,453
0
0
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:
Increase in burden is because this is a new collection. Section 1501 of the S.A.F.E. Act (Pub. L. 110-289) requires an employee of a bank, savings association, or credit union and their subsidiaries regulated by one of the Agencies or an employee of an institution regulated by the Farm Credit Administration (collectively, Agency-regulated institutions), who engages in the business of a residential mortgage loan originator (MLO) to register with the Registry and obtain a unique identifier.
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]?
Uncollected
Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]?
Uncollected
Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)?
No
Is this ICR related to the Pandemic Response?
Uncollected
Agency Contact:
Herbert Messite 202 898-6834 HMessite@fdic.gov
Common Form ICR:
No
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:
06/09/2009
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