Registration of Mortgage Loan Originators

ICR 200906-1550-002

OMB: 1550-0127

Federal Form Document

Forms and Documents
Document
Name
Status
Supporting Statement A
2009-08-28
IC Document Collections
IC ID
Document
Title
Status
189443
New
ICR Details
1550-0127 200906-1550-002
Historical Inactive
TREAS/OTS
Registration of Mortgage Loan Originators
New collection (Request for a new OMB Control Number)   No
Regular
Preapproved 09/11/2009
Retrieve Notice of Action (NOA) 06/09/2009
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
09/30/2012 36 Months From Approved
49,980 0 0
536,305 0 0
21,377,943 0 0

This collection is promulgated by the Secure and Fair Enforcement for Mortgage Licensing Act (the S.A.F.E. Act) which requires an employee of a bank, savings association, or credit union and their subsidiaries regulated by one of the Agencies who engages in the business of a residential mortgage loan originator (MLO) to register with the Registry and obtain a unique identifier.

PL: Pub.L. 110 - 289 Title V Name of Law: Housing and Economic Recovery Act of 2008
  
PL: Pub.L. 110 - 289 Title V Name of Law: Housing Economic Recovery Act of 2008

1550-AC33 Proposed rulemaking 74 FR 109 06/09/2009

No

1
IC Title Form No. Form Name
Registration of Mortgage Loan Originators

  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 49,980 0 49,980 0 0 0
Annual Time Burden (Hours) 536,305 0 536,305 0 0 0
Annual Cost Burden (Dollars) 21,377,943 0 21,377,943 0 0 0
No
No
The OTS is proposing amendments to its rules in order to implement the S.A.F.E. Act which was enacted as Title V of the Housing and Economic Recovery Act of 2008. The S.A.F.E. Act 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. This proposal implements these requirements. It also provides that these Agency-regulated institutions must require their employees, who act as MLO’s to comply with this Act’s requirements to register and obtain a unique identifier, and must adopt and follow written policies and procedures to assure compliance with these requirements. OTS is citing an increase in the inventory burden due to the fact that this is a new collection.

No
No
Uncollected
Uncollected
No
Uncollected
Deborah Merkle 202 906-5688

  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:
 
 
 
 
 
 
 
    (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;
 
 
 
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.
06/09/2009


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