ADJUSTABLE-RATE MORTGAGE DISCLOSURES (12 CFR 29.7)

ICR 198602-1557-018

OMB: 1557-0139

Federal Form Document

Forms and Documents
Document
Name
Status
No forms / supporting documents in this ICR. Check IC Document Collections.
IC Document Collections
IC ID
Document
Title
Status
171029
Migrated
ICR Details
1557-0139 198602-1557-018
Historical Active 198307-1557-003
TREAS/OCC
ADJUSTABLE-RATE MORTGAGE DISCLOSURES (12 CFR 29.7)
No material or nonsubstantive change to a currently approved collection   No
Emergency 02/18/1986
Approved with change 02/18/1986
Retrieve Notice of Action (NOA) 02/18/1986
  Inventory as of this Action Requested Previously Approved
09/30/1986 09/30/1986 09/30/1986
2,700 0 2,700
1,350 0 1,350
0 0 0

RATHER THAN LIMITING THE FEATURES OF BANKS' ARM PROGRAMS, THE REGULATION MANDATES A GENERAL INITIAL DISCLOSURE TO POTENTIAL BORROWER AND PERIODIC NOTIFICATION OF INTEREST RATE AND PAYMENT CHANGES. THE DISCLOSURES ARE DESIGNED TO ENSURE THAT BORROWERS HAVE ADEQUATE OPPORTUNITIES TO UNDERSTAND THE NATURE OF THE LOAN.

None
None


No

1
IC Title Form No. Form Name
ADJUSTABLE-RATE MORTGAGE DISCLOSURES (12 CFR 29.7)

  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 2,700 2,700 0 0 0 0
Annual Time Burden (Hours) 1,350 1,350 0 0 0 0
Annual Cost Burden (Dollars) 0 0 0 0 0 0
No
No

$0
No
No
Uncollected
Uncollected
Uncollected
Uncollected

  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.
02/18/1986


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