Home Mortgage Disclosure Act (Regulation C) 12 CFR 1003

Forms and Documents

Document Name	Status
Final policy guidance_01312019.pdf Supplementary Document	2019-11-27
NPRM_RIN_3170-AA76.pdf Supplementary Document	2019-10-17
NFRM RIN 3170-AA10 Oct 2015.pdf Supplementary Document	2019-10-17
3170-0008_HMDA_NFRM_Supporting Statement-NFRM RIN 3170-AA76 OMB -Updated-11262019.docx Supporting Statement A	2019-11-27

IC Document Collections

IC ID	Document Title	Status
200106	HMDA Reporting, Record-keeping and Disclosure requirements	Modified

ICR Details

OMB Control No: 3170-0008	ICR Reference No: 201910-3170-003
Status: Active	Previous ICR Reference No: 201601-3170-002
Agency/Subagency: CFPB	Agency Tracking No:
Title: Home Mortgage Disclosure Act (Regulation C) 12 CFR 1003
Type of Information Collection: Revision of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved with change	Conclusion Date: 11/27/2019
	Date Received in OIRA: 10/17/2019
Terms of Clearance: Supporting statement updated during review.

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	11/30/2022	36 Months From Approved	01/31/2020
Responses	135	0	145
Time Burden (Hours)	1,500,000	0	690,000
Cost Burden (Dollars)	1,286,000	0	0

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Abstract: The Home Mortgage Disclosure Act (HMDA) requires certain depository institutions and for-profit nondepository institutions to collect, report, and disclose data about originations and purchases of mortgage loans, as well as mortgage loan applications that do not result in originations (for example, applications that are denied or withdrawn). The Consumer Financial Protection Bureau’s (Bureau) Regulation C, 12 CFR part 1003, implements HMDA. The purpose of the information collection is: (i) to help determine whether financial institutions are serving the housing needs of their communities; (ii) to assist public officials in distributing public-sector investment so as to attract private investment to areas where it is needed; and (iii) to assist in identifying possible discriminatory lending patterns and enforcing antidiscrimination statutes. The information collection will also assist the Bureau’s examiners, and examiners of other federal supervisory agencies, in determining that the financial institutions they supervise comply with applicable provisions of HMDA.

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Authorizing Statute(s): US Code: 12 USC 2801-2810 Name of Law: Home Mortgage Disclosure Act
  

Citations for New Statutory Requirements: None

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
3170-AA76	Final or interim final rulemaking	84 FR 57946	10/29/2019

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Federal Register Notices & Comments

Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 1

IC Title	Form No.	Form Name
HMDA Reporting, Record-keeping and Disclosure requirements

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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	135	145	0	-40	30	0
Annual Time Burden (Hours)	1,500,000	690,000	0	-470,520	1,280,520	0
Annual Cost Burden (Dollars)	1,286,000	0	0	-370,000	1,656,000	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: Yes

Burden Reduction Due to: Changing Regulations

Short Statement: The program changes are a result of the October 2019 final rule that the Bureau has issued pursuant to EGRRCPA in regard to the reporting threshold . The adjustments result from the inclusion of burden for portions of the 2016 final rule which included provisions that were not previously active.

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Annual Cost to Federal Government: $633,000

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: 10/17/2019

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