Registration of Mortgage Loan Originators

ICR 202209-7100-003

OMB: 7100-0328

Federal Form Document

Forms and Documents
Justification for No Material/Nonsubstantive Change
ICR Details
7100-0328 202209-7100-003
Active 202007-7100-001
Registration of Mortgage Loan Originators
No material or nonsubstantive change to a currently approved collection   No
Approved without change 09/14/2022
Retrieve Notice of Action (NOA) 09/14/2022
  Inventory as of this Action Requested Previously Approved
07/31/2023 07/31/2023 07/31/2023
25,819 0 35,732
87,317 0 103,191
0 0 0

In accordance with the Secure and Fair Enforcement for Mortgage Licensing Act (SAFE Act), the Consumer Financial Protection Bureau’s (CFPB) Regulation G requires residential mortgage loan originators (MLOs) to register with the Nationwide Multistate Licensing System (NMLS), maintain this registration, obtain a unique identifier, and disclose to consumers upon request and through the NMLS 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 MLOs to adopt and follow written policies and procedures to ensure that their employees comply with these requirements and to conduct annual independent compliance tests. The CFPB’s regulation applies to a broad range of financial institutions and their employees. Regarding entities supervised by the Board, the CFPB’s regulation applies to state member banks (SMBs) with $10 billion or less in total assets that are not affiliates of insured depository institutions with total assets of more than $10 billion; subsidiaries of such SMBs that are not functionally regulated within the meaning of section 5(c)(5) of the Bank Holding Company Act of 1956; branches and agencies of foreign banks (other than federal branches, federal agencies, and insured state branches of foreign banks); and commercial lending companies owned or controlled by foreign banks; and their employees who act as MLOs.

US Code: 12 USC 5581(c) Name of Law: Dodd-Frank Wall Street Reform and Consumer Protection Act
   US Code: 12 USC 3106(a)(1) Name of Law: International Banking Act of 1978
   US Code: 12 USC 3105(c) Name of Law: International Banking Act of 1978
   US Code: 12 USC 3108(b) Name of Law: International Banking Act of 1978

Not associated with rulemaking

  85 FR 2742 01/16/2020
85 FR 27744 05/11/2020

  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 25,819 35,732 0 0 -9,913 0
Annual Time Burden (Hours) 87,317 103,191 0 0 -15,874 0
Annual Cost Burden (Dollars) 0 0 0 0 0 0
The decrease in burden hours reflects a decrease in respondent counts. In addition, two rows were combined as the same respondents were subject to each line.

Jennifer Williams 202 452-2446 [email protected]


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.

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