Registration of Mortgage Loan Originators

Forms and Documents

Document Name	Status
12CFR741_223_Registration.pdf Supplementary Document	2016-09-30
12CFR761_Compliance 12CFR1007.pdf Supplementary Document	2016-09-30
12CFR1007_REG-G_SAFE_010116.pdf Supplementary Document	2016-09-30
FINAL_3133-0181_Supporting_Statement_S-A-F-E_092616.docx Supporting Statement A	2016-09-30

IC Document Collections

IC ID	Document Title	Status
194122	Credit Unions - (Depository Institutions)	Removed
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: 201607-3133-004
Status: Historical Active	Previous ICR Reference No: 201007-3133-001
Agency/Subagency: NCUA	Agency Tracking No: E&I
Title: Registration of Mortgage Loan Originators
Type of Information Collection: Reinstatement without change of a previously approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved without change	Conclusion Date: 01/17/2017
	Date Received in OIRA: 10/11/2016
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	01/31/2020	36 Months From Approved	02/28/2011
Responses	132,068	0	14,604
Time Burden (Hours)	76,204	0	997,677
Cost Burden (Dollars)	1,993,980	0	0

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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:
	81 FR 50564	08/01/2016
30-day Notice:	Federal Register Citation:	Citation Date:
	81 FR 69551	10/06/2016
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
Credit Unions - (Depository Institutions)

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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	132,068	14,604	0	0	93,925	23,539
Annual Time Burden (Hours)	76,204	997,677	0	0	-1,003,860	82,387
Annual Cost Burden (Dollars)	1,993,980	0	0	0	1,993,980	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: This is a reinstatement of a previously approved collection. When the rule was first promulgated in 2010, a large portion of the burden was imposed on the credit unions to establish new programs requirement prescribed by regulation. Since 2010, the registry is a standard business practice for the MLOs and an adjustment has been made to reflect this decrease.

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Annual Cost to Federal Government: $0

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]? 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: 10/11/2016

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