Extension without change of a currently approved collection
No
Regular
06/17/2022
Requested
Previously Approved
36 Months From Approved
08/31/2022
28
244
576
29,280
0
0
Comprehensive mortgage data is vital
to assessing and monitoring credit quality and loss mitigation
activities in the residential mortgage market and the federal
banking system. This data is important and necessary to support
supervisory activities to ensure the safety and soundness of the
federal banking system. Section 104(a) of the Helping Families Save
Their Homes Act of 2009 (12 U.S.C. 1715z-25(a) (Act), as amended by
section 1493(a) of the Dodd-Frank Wall Street Reform and Consumer
Protection Act, requires the OCC to submit a quarterly report to
Congress on mortgage modification activity in the federal banking
system. Section 104(b) of the Act (12 U.S.C. 1715z-25(b)) requires
the OCC to collect mortgage modification data from national banks
and federal savings associations and provides for the collection of
all data necessary to fulfill the reporting requirements of section
104(a). Those requirements include information on the number of
mortgage modifications in each state that have certain
characteristics, such as changes to the principal amount of a loan
or changes to a homeowner’s total monthly principal and interest
payment. The OCC currently collects aggregate data on first-lien
residential mortgage loans serviced by seven national banks with
large mortgage-servicing portfolios. The required aggregate data
are industry standard measures of portfolio performance, including:
(1) outstanding loan count and unpaid principal balance; (2)
delinquency and liquidation ratios; and (3) the number of loss
mitigation actions completed.
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.