Mortgage Assistance Relief Services Rule

Forms and Documents

Document Name	Status
MARS Final Rule Suppl SS fin_mtd_mtd.pdf Supporting Statement A	2010-11-24
MARS NPRM public comments link.wpd Supplementary Document	2010-11-15

IC Document Collections

IC ID	Document Title	Status
192054	Retaining and filing records of compliance	Modified
192053	Documenting compliance, monitoring sales presentations, related training	Modified
192052	Initial setup: creating procedures to monitor compliance	Modified
192051	Disclosures required incremental to Government-supplied language	Modified

ICR Details

OMB Control No: 3084-0157	ICR Reference No: 201010-3084-002
Status: Historical Active	Previous ICR Reference No: 201002-3084-001
Agency/Subagency: FTC	Agency Tracking No:
Title: Mortgage Assistance Relief Services Rule
Type of Information Collection: New collection (Request for a new OMB Control Number)	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved without change	Conclusion Date: 01/03/2011
	Date Received in OIRA: 11/24/2010
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	01/31/2014	36 Months From Approved
Responses	2,000	0	0
Time Burden (Hours)	65,000	0	0
Cost Burden (Dollars)	500,000	0	0

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Abstract: The Federal Trade Commission (FTC or Commission) requests OMB approval for disclosure and recordkeeping requirements in the regulations for Mortgage Assistance Relief Services (MARS). The Final Rule applies to every service MARS providers offer to consumers, expressly or by implication, for the purpose of obtaining a loan modification or other type of relief to postpone or avoid foreclosure. Among other things, the Rule would: (1)require MARS providers to disclose key information in their communications with consumers; and (2) impose recordkeeping and compliance requirements.

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Authorizing Statute(s): PL: Pub.L. 111 - 8 626(a) Name of Law: 2009 Omnibus Appropriations Act
   PL: Pub.L. 111 - 24 511 Name of Law: Credit Card Accountability and Responsibility and Disclosure Act of 2009
  

Citations for New Statutory Requirements: PL: Pub.L. 111 - 24 511 Name of Law: Credit Card Accountability and Responsibility and Disclosure Act of 2009
PL: Pub.L. 111 - 8 626 Name of Law: 2009 Omnibus Appropriations Act

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
3084-AB18	Final or interim final rulemaking	75 FR 75092	12/01/2010

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Federal Register Notices & Comments

Did the Agency receive public comments on this ICR? Yes

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Number of Information Collection (IC) in this ICR: 4

IC Title	Form No.	Form Name
Initial setup: creating procedures to monitor compliance
Disclosures required incremental to Government-supplied language
Retaining and filing records of compliance
Documenting compliance, monitoring sales presentations, related training

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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	2,000	0	0	2,000	0	0
Annual Time Burden (Hours)	65,000	0	0	65,000	0	0
Annual Cost Burden (Dollars)	500,000	0	0	500,000	0	0

Burden increases because of Program Change due to Agency Discretion: Yes

Burden Increase Due to: Changing Regulations

Burden decreases because of Program Change due to Agency Discretion: No

Burden Reduction Due to:

Short Statement: This is a new rulemaking. The burden estimates from the proposed to final rule remain unchanged.

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Annual Cost to Federal Government: $1,168,000

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

Is the Supporting Statement intended to be a Privacy Impact Assessment required by the E-Government Act of 2002? 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: 11/24/2010

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