Secure and Fair Enforcement for Mortgage Licensing Act (Regulation G) 12 CFR 1007

Forms and Documents

Document Name	Status
Change Request - Remove Cost Burden.docx Justification for No Material/Nonsubstantive Change	2014-01-23
Supporting Statement.doc Supporting Statement A	2012-04-17

IC Document Collections

IC ID	Document Title	Status
200154	Insurance and Extension of Credit	Modified
200153	Institution Mortgage Loan Originator Reporting	Modified
200152	Mortgage Loan Originator Disclosure	Modified
200151	Mortgage Loan Originator Reporting	Modified

ICR Details

OMB Control No: 3170-0005	ICR Reference No: 201401-3170-001
Status: Historical Active	Previous ICR Reference No: 201204-3170-002
Agency/Subagency: CFPB	Agency Tracking No:
Title: Secure and Fair Enforcement for Mortgage Licensing Act (Regulation G) 12 CFR 1007
Type of Information Collection: No material or nonsubstantive change to a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved without change	Conclusion Date: 01/31/2014
	Date Received in OIRA: 01/23/2014
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	06/30/2015	06/30/2015	06/30/2015
Responses	33,656	0	33,656
Time Burden (Hours)	15,183	0	15,183
Cost Burden (Dollars)	0	0	322,021

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Abstract: The information collection will improve the flow of information to and between regulators; provide accountability and tracking of MLOs, 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 publicly adjudicated disciplinary and enforcement actions against, MLOs.

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Authorizing Statute(s): PL: Pub.L. 110 - 289 X Name of Law: Secure and Fair Enforcement for Mortgage Licensing Act
  

Citations for New Statutory Requirements: PL: Pub.L. 111 - 203 X Name of Law: Wall Street Reform and Consumer Protection Act

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
3170-AA06	Final or interim final rulemaking	76 FR 78483	12/19/2011

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Federal Register Notices & Comments
60-day Notice:	Federal Register Citation:	Citation Date:
	77 FR 2685	01/19/2012
30-day Notice:	Federal Register Citation:	Citation Date:
	77 FR 22763	04/17/2012
Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 4

IC Title	Form No.	Form Name
Mortgage Loan Originator Reporting
Mortgage Loan Originator Disclosure
Institution Mortgage Loan Originator Reporting
Insurance and Extension of Credit

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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	33,656	33,656	0	0	0	0
Annual Time Burden (Hours)	15,183	15,183	0	0	0	0
Annual Cost Burden (Dollars)	0	322,021	0	0	-322,021	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:

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Annual Cost to Federal Government: $322,021

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]? Yes

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: 01/23/2014

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