Reporting, Recordkeeping, and Disclosure Requirements Associated with the Home Mortgage Disclosure Act and Loan/Application Register required by Regulation C

Forms and Documents

Document Name	Status
FRHMDALAR_20180822_83c.pdf Justification for No Material/Nonsubstantive Change	2018-08-22

IC Document Collections

IC ID	Document Title	Status
36279	Reporting Tier 1	Modified
232797	Disclosure Tier 3	New
232796	Disclosure Tier 2	New
232795	Disclosure Tier 1	New
232794	Recordkeeping Tier 3	New
232793	Recordkeeping Tier 2	New
232792	Recordkeeping Tier 1	New
232791	Reporting Tier 3 Instruction	New
181544	Reporting Tier 2 Instruction	Modified

ICR Details

OMB Control No: 7100-0247	ICR Reference No: 201808-7100-008
Status: Historical Active	Previous ICR Reference No: 201407-7100-007
Agency/Subagency: FRS	Agency Tracking No: FR HMDA LAR
Title: Reporting, Recordkeeping, and Disclosure Requirements Associated with the Home Mortgage Disclosure Act and Loan/Application Register required by Regulation C
Type of Information Collection: No material or nonsubstantive change to a currently approved collection	Common Form ICR:  No
Type of Review Request: Delegated
OIRA Conclusion Action: Approved without change	Conclusion Date: 08/22/2018
	Date Received in OIRA: 08/22/2018
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	01/31/2019	01/31/2019	01/31/2019
Responses	1,515	0	531
Time Burden (Hours)	511,035	0	127,652
Cost Burden (Dollars)	0	0	0

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Abstract: HMDA was enacted in 1975 and is implemented by Regulation C. Generally, HMDA requires certain depository and non-depository institutions that make certain mortgage loans to collect, report, and disclose data about originations and purchases of mortgage loans, as well as loan applications that do not result in originations (for example, applications that are denied or withdrawn). HMDA was enacted to provide regulators and the public with loan data that can be used to: (1) help determine whether financial institutions are serving the housing needs of their communities, (2) assist public officials in distributing public-sector investments so as to attract private investment to areas where it is needed, and (3) assist in identifying possible discriminatory lending patterns and enforcing anti-discrimination statutes. Supervisory agencies, state and local public officials, and members of the public use the data to aid in the enforcement of the Community Reinvestment Act, the Equal Credit Opportunity Act, and the Fair Housing Act and to aid in identifying areas for residential redevelopment and rehabilitation.

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Authorizing Statute(s): US Code: 12 USC 2803(j) and 2803(h)(2)(A) Name of Law: Home Mortgage Disclosure Act
  

Citations for New Statutory Requirements: None

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
	Not associated with rulemaking

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Federal Register Notices & Comments
60-day Notice:	Federal Register Citation:	Citation Date:
	79 FR 21926	04/18/2014
30-day Notice:	Federal Register Citation:	Citation Date:
	79 FR 42010	07/18/2014
Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 9

IC Title	Form No.	Form Name
Recordkeeping Tier 2
Disclosure Tier 2
Reporting Tier 1
Reporting Tier 2
Reporting Tier 3
Recordkeeping Tier 1
Recordkeeping Tier 3
Disclosure Tier 1
Disclosure Tier 3

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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	1,515	531	0	0	984	0
Annual Time Burden (Hours)	511,035	127,652	0	0	383,383	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 hours reflects an adjustment to align the methodology with that of the Bureau of Consumer Financial Protection.

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Annual Cost to Federal Government: $3,100,000

Does this IC contain surveys, censuses, or employ statistical methods? No

Does this ICR request any personally identifiable information (see OMB Circular No. A-130 for an explanation of this term)? Please consult with your agency's privacy program when making this determination.     Yes

Does this ICR include a form that requires a Privacy Act Statement (see 5 U.S.C. §552a(e)(3))? Please consult with your agency's privacy program when making this determination.     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]? No

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: 08/22/2018

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