[Federal Register Volume 84, Number 200 (Wednesday, October 16, 2019)]
[Notices]
[Pages 55378-55379]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2019-22473]
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DEPARTMENT OF THE TREASURY
Office of the Comptroller of the Currency
Agency Information Collection Activities: Information Collection
Revision; Comment Request; Regulation C--Home Mortgage Disclosure
AGENCY: Office of the Comptroller of the Currency (OCC), Treasury.
ACTION: Notice and request for comment.
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SUMMARY: The OCC, as part of its continuing effort to reduce paperwork
and respondent burden, invites the general public and other Federal
agencies to take this opportunity to comment on a continuing
information collection as required by the Paperwork Reduction Act of
1995 (PRA).
An agency may not conduct or sponsor, and respondents are not
required to respond to, an information collection unless it displays a
currently valid Office of Management and Budget (OMB) control number.
The OCC is soliciting comment concerning the revision of the
information collection titled ``Regulation C--Home Mortgage
Disclosure.''
DATES: Comments must be submitted on or before December 16, 2019.
ADDRESSES: Commenters are encouraged to submit comments by email, if
possible. You may submit comments by any of the following methods:
Email: [email protected].
Mail: Chief Counsel's Office, Attention: Comment
Processing, 1557-0345, Office of the Comptroller of the Currency, 400
7th Street SW, Suite 3E-218, Washington, DC 20219.
Hand Delivery/Courier: 400 7th Street SW, Suite 3E-218,
Washington, DC 20219.
Fax: (571) 465-4326.
Instructions: You must include ``OCC'' as the agency name and 1557-
0345, in your comment. In general, the OCC will publish comments on
www.reginfo.gov without change, including any business or personal
information provided, such as name and address information, email
addresses, or phone numbers. Comments received, including attachments
and other supporting materials, are part of the public record and
subject to public disclosure. Do not include any information in your
comment or supporting materials that you consider confidential or
inappropriate for public disclosure.
You may review comments and other related materials that pertain to
this information collection beginning on the date of publication of the
second notice for this collection \1\ by any of the following methods:
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\1\ Following the close of this notice's 60-day comment period,
the OCC will publish a second notice with a 30-day comment period.
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Viewing Comments Electronically: Go to www.reginfo.gov.
Click on the ``Information Collection Review'' tab. Underneath the
``Currently under Review'' section heading, from the drop-down menu,
select ``Department of Treasury'' and then click ``submit.'' This
information collection can be located by searching by OMB control
number ``Regulation C--Home Mortgage Disclosure.'' Upon finding the
appropriate information collection, click on the related ``ICR
Reference Number.'' On the next screen, select ``View Supporting
Statement and Other Documents'' and then click on the link to any
comment listed at the bottom of the screen.
For assistance in navigating www.reginfo.gov, please
contact the Regulatory Information Service Center at (202) 482-7340.
Viewing Comments Personally: You may personally inspect
comments at the OCC, 400 7th Street SW, Washington, DC. For security
reasons, the OCC requires that visitors make an appointment to inspect
comments. You may do so by calling (202) 649-6700 or, for persons who
are deaf or hearing impaired, TTY, (202) 649-5597. Upon arrival,
visitors will be required to present valid government-issued photo
identification and submit to security screening in order to inspect
comments.
FOR FURTHER INFORMATION CONTACT: Shaquita Merritt, OCC Clearance
Officer, (202) 649-5490 or, for persons who are deaf or hearing
impaired, TTY, (202) 649-5597, Chief Counsel's Office, Office of the
Comptroller of the Currency, 400 7th Street SW, Washington, DC 20219.
SUPPLEMENTARY INFORMATION: Under the PRA (44 U.S.C. 3501 et seq.),
federal agencies must obtain approval from the OMB for each collection
of information that they conduct or sponsor. ``Collection of
information'' is defined in 44 U.S.C. 3502(3) and 5 CFR 1320.3(c) to
include agency requests or requirements that members of the public
submit reports, keep records, or provide information to a third party.
Section 3506(c)(2)(A) of title 44 requires Federal agencies to provide
a 60-day notice in the Federal Register concerning each proposed
collection of information, including each proposed revision of an
existing collection of information, before submitting the collection to
OMB for approval. To comply with this requirement, the OCC is
publishing this notice.
Title: Regulation C--Home Mortgage Disclosure Act.
OMB Control Nos.: 1557-0345.
Type of Review: Regular review.
Description: Regulation C,\2\ which implements the Home Mortgage
Disclosure Act \3\ (HMDA) enacted in 1975, requires certain depository
and non-depository institutions that make certain mortgage loans to
collect, report, and disclose data about originations and purchases of
mortgage loans, as well as loan applications that do not result in
originations. HMDA generates loan data that can be used to: (1) Help
determine whether financial institutions are serving the housing needs
of their communities; (2) assist public officials in distributing
public-sector investments so as to attract private investment to areas
where it is needed; and (3) assist in identifying possible
discriminatory lending patterns and enforcing anti-discrimination
statutes.
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\2\ 12 CFR part 1003.
\3\ 12 U.S.C. 2801-2811.
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The Dodd-Frank Wall Street Reform and Consumer Protection Act of
2010 \4\ (the Dodd-Frank Act) transferred the authority to administer
HMDA, including rulemaking authority, from the Board of Governors of
the Federal Reserve System (Board) to the Consumer Financial Protection
Bureau (CFPB), and transferred supervisory and enforcement authority
for HMDA for depository institutions over $10 billion in consolidated
assets from the Board, Federal Deposit Insurance Corporation, OCC, and
National Credit Union Administration to the CFPB.
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\4\ Public Law 111-203, July 21, 2010.
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On May 13, 2019, the CFPB issued a proposed rule to amend
Regulation C to adjust the coverage thresholds.\5\ The proposal sets
out two alternatives to increasing the closed-end institutional and
transitional coverage threshold--to either 50 or 100 closed-end
mortgage loans in each of the preceding two calendar years. In
addition, the temporary threshold of 500 open-end lines of credit for
open-end institutional and transactional coverage would extend to
January 1, 2022. After the temporary extension expires, the open-
[[Page 55379]]
end threshold would be 200 open-end lines of credit in each of the
preceding two calendar years.
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\5\ 84 FR 20972.
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Affected Public: Businesses or other for-profit.
Burden Estimates for 2020 and 2021:
Alternative A (threshold of 50 closed-end mortgage loans):
Estimated Number of Respondents: 518.
Estimated Annual Burden: 415,658 hours.
Frequency of Response: On occasion.
Alternative B (threshold of 100 closed-end mortgage loans):
Estimated Number of Respondents: 385.
Estimated Annual Burden: 395,395 hours.
Frequency of Response: On occasion.
Comments: Comments submitted in response to this notice will be
summarized and included in the request for OMB approval. All comments
will become a matter of public record. Comments are invited on:
(a) Whether the collections of information are necessary for the
proper performance of the functions of the OCC, including whether the
information has practical utility;
(b) The accuracy of the OCC's estimates of the information
collection burden;
(c) Ways to enhance the quality, utility, and clarity of the
information to be collected;
(d) Ways to minimize the burden of the collection on respondents,
including through the use of automated collection techniques or other
forms of information technology; and
(e) Estimates of capital or start-up costs and costs of operation,
maintenance, and purchase of services to provide information.
Dated: October 9, 2019.
Theodore J. Dowd,
Deputy Chief Counsel, Office of the Comptroller of the Currency.
[FR Doc. 2019-22473 Filed 10-15-19; 8:45 am]
BILLING CODE 4810-33-P