Domestic First Lien Residential Mortgage Data

ICR 201601-1557-001

OMB: 1557-0331

Federal Form Document

Forms and Documents
Document
Name
Status
Supplementary Document
2016-06-03
Supporting Statement A
2016-06-08
IC Document Collections
IC ID
Document
Title
Status
220369 New
213212 Modified
ICR Details
1557-0331 201601-1557-001
Historical Active 201409-1557-003
TREAS/OCC
Domestic First Lien Residential Mortgage Data
Revision of a currently approved collection   No
Regular
Approved without change 06/08/2016
Retrieve Notice of Action (NOA) 03/07/2016
  Inventory as of this Action Requested Previously Approved
06/30/2019 36 Months From Approved 09/30/2018
976 0 732
344,040 0 314,760
0 0 0

Comprehensive mortgage data is vital to assessing and monitoring credit quality and loss mitigation activities in the residential mortgage market and the federal banking system. This data is important and necessary to support supervisory activities to ensure the safety and soundness of the federal banking system. The Dodd-Frank Wall Street Reform and Regulatory Improvement Act of 2010 requires the OCC to collect this mortgage data. 12 U.S.C. 1715z-25. Aggregate Collection IC: The existing loan-level data collection is being revised to include aggregate values to be calculated from data that is currently reported in loan-level format. These aggregate values will be industry standard measures of portfolio performance, including but not limited to: outstanding loan count and unpaid principal balance; delinquency and liquidation ratios; and the number of loss mitigation actions completed. Aggregate values generally will be reported at the total portfolio and state level, with some values also reported by portfolio segments including, but not limited to: borrower credit class and type and execution date of loss mitigation action. The reported data items will still be calculated from loan-level data that includes: bankruptcy or foreclosure status; and other detailed loan information. Banks would not be required to report this data to the OCC monthly, but would be required to provide it upon OCC’s request. Loan-Level Data IC: The existing loan-level data collection will continue after OMB approval of the aggregate data collection and will be discontinued on November 30, 2016.

US Code: 12 USC 1 et seq. Name of Law: The National Bank Act
  
None

Not associated with rulemaking

  80 FR 70880 11/16/2015
81 FR 11904 03/07/2016
No

2
IC Title Form No. Form Name
Aggregate Data Collection
Loan Level Data Collection

  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 976 732 0 244 0 0
Annual Time Burden (Hours) 344,040 314,760 0 29,280 0 0
Annual Cost Burden (Dollars) 0 0 0 0 0 0
Yes
Miscellaneous Actions
No
The increase in burden is due to the overlap of the current loan-level data collection with the new aggregate data collection. The loan-level data collection will continue until November 30, 2016 when it will be discontinued. The aggregate data collection will begin upon OMB approval and continue after the loan-level data collection is discontinued.

No
No
No
No
No
Uncollected
James Wilds 202 649-5006 [email protected]

  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.
03/07/2016


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