Registration of Mortgage Loan Originators

Forms and Documents

Document Name	Status
12CFR741-223_(1-1-19 ED).pdf Supplementary Document	2020-01-27
12CFR761-1_(1-1-19 ED).pdf Supplementary Document	2020-01-27
12CFR1007_Reg-G_(1-1-19 ED).pdf Supplementary Document	2020-01-27
FINAL_3133-0181_Supporting_Statement_S-A-F-E_012720.docx Supporting Statement A	2020-01-27

IC Document Collections

IC ID	Document Title	Status
194121	Registraton of MLO and Policies and Procedures by FCU	Modified
194047	Registration of Mortgage Loan Originators	Modified

ICR Details

OMB Control No: 3133-0181	ICR Reference No: 201911-3133-003
Status: Active	Previous ICR Reference No: 201607-3133-004
Agency/Subagency: NCUA	Agency Tracking No: E&I
Title: Registration of Mortgage Loan Originators
Type of Information Collection: Extension without change of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved without change	Conclusion Date: 03/02/2020
	Date Received in OIRA: 01/27/2020
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	03/31/2023	36 Months From Approved	02/29/2020
Responses	154,733	0	132,068
Time Burden (Hours)	83,965	0	76,204
Cost Burden (Dollars)	2,320,770	0	1,993,980

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Abstract: The S.A.F.E. Act (12 U.S.C. 5101-5116) requires an employee of an institution regulated by a Federal banking agency who engages in the business of a residential mortgage loan originator to register with the Nationwide Mortgage Licensing System and Registry and obtain a unique identifier. Under CFPB regulations at 12 CFR part 1007, agency-regulated institutions must require their employees who act as residential mortgage loan originators to comply with the requirements to register and obtain a unique identifier and adopt and follow written policies and procedures.

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Authorizing Statute(s): PL: Pub.L. 110 - 289 1501-1517, 122 Stat. 2654 Name of Law: Housing and Economic Recovery Act of 2008
  

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:
	84 FR 64111	11/20/2019
30-day Notice:	Federal Register Citation:	Citation Date:
	85 FR 4721	01/27/2020
Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 2

IC Title	Form No.	Form Name
Registration of Mortgage Loan Originators
Registraton of MLO and Policies and Procedures by FCU

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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	154,733	132,068	0	0	22,665	0
Annual Time Burden (Hours)	83,965	76,204	0	0	7,761	0
Annual Cost Burden (Dollars)	2,320,770	1,993,980	0	0	326,790	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: An increase 7,761 burden hours is an adjustment to reflect the current number of respondent. A total of 83,965 burden hours is requested.

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Annual Cost to Federal Government: $0

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.     No

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]? 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: 01/27/2020

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