Registration of Mortgage Loan Originators

ICR 201705-7100-003

OMB: 7100-0328

Federal Form Document

Forms and Documents
Document
Name
Status
Justification for No Material/Nonsubstantive Change
2017-06-07
ICR Details
7100-0328 201705-7100-003
Historical Active 201407-7100-015
FRS CFPB Reg G
Registration of Mortgage Loan Originators
No material or nonsubstantive change to a currently approved collection   No
Delegated
Approved without change 07/26/2017
Retrieve Notice of Action (NOA) 07/26/2017
  Inventory as of this Action Requested Previously Approved
07/31/2017 07/31/2017 07/31/2017
33,398 0 29,720
109,159 0 109,972
0 0 0

In accordance with the Secure and Fair Enforcement for Mortgage Licensing Act (S.A.F.E. Act), the Consumer Financial Protection Bureau’s (CFPB) Regulation G requires residential mortgage loan originators (MLOs) to register with the Nationwide Mortgage Licensing System and Registry (the Registry), obtain a unique identifier, maintain this registration, and disclose to consumers upon request and through the Registry their unique identifier and the MLO’s employment history and publicly adjudicated disciplinary and enforcement actions. The CFPB’s regulation also requires the institutions employing these MLOs to adopt and follow written policies and procedures to ensure their employees comply with these requirements and to conduct annual independent compliance tests to assure compliance. The CFPB’s rule applies to a broad range of financial institutions and their employees, including Board-supervised institutions/employees, such as state member banks and their non-functionally-regulated subsidiaries, state uninsured branches and agencies of foreign banks, and commercial lending companies owned or controlled by foreign banks.

US Code: 12 USC 5581(c) Name of Law: Dodd-Frank Act
   US Code: 12 USC 5103 and 5106 Name of Law: Secure and Fair Enforcement for Mortgage Licensing Act (the S.A.F.E. Act)
  
None

Not associated with rulemaking

  79 FR 21926 04/18/2014
79 FR 42010 07/18/2014
No

  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 33,398 29,720 0 0 3,678 0
Annual Time Burden (Hours) 109,159 109,972 0 0 -813 0
Annual Cost Burden (Dollars) 0 0 0 0 0 0
No
No
The decrease in burden hours reflects updates to respondent counts

$0
No
No
No
Yes
No
Uncollected
Jennifer Williams 202 452-2446 [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.
07/26/2017


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