[Federal Register Volume 84, Number 224 (Wednesday, November 20, 2019)]
[Notices]
[Pages 64111-64112]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2019-25119]


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NATIONAL CREDIT UNION ADMINISTRATION


Agency Information Collection Activities: Proposed Collection; 
Comment Request; Registration of Mortgage Loan Originators

AGENCY: National Credit Union Administration (NCUA).

ACTION: Notice and request for comment.

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SUMMARY: The National Credit Union Administration (NCUA), as part of a 
continuing effort to reduce paperwork and respondent burden, invites 
the general public and other Federal agencies to comment on the 
following extension of a currently approved collection, as required by 
the Paperwork Reduction Act of 1995.

DATES: Written comments should be received on or before January 21, 
2020 to be assured consideration.

ADDRESSES: Interested persons are invited to submit written comments on 
the information collection to Dawn

[[Page 64112]]

Wolfgang, National Credit Union Administration, 1775 Duke Street, Suite 
6032, Alexandria, Virginia 22314; Fax No. 703-519-8579; or Email at 
[email protected].

FOR FURTHER INFORMATION CONTACT: Address requests for additional 
information to Dawn Wolfgang at the address above or telephone 703-548-
2279.

SUPPLEMENTARY INFORMATION: 
    OMB Number: 3133-0181.
    Title: Registration of Mortgage Loan Originators.
    Type of Review: Extension of a currently approved.
    Abstract: The Secure and Fair Enforcement for Mortgage Licensing 
Act (S.A.F.E. Act), 12 U.S.C. 5101 et seq., as codified by 12 CFR part 
1007, requires an employee of a bank, savings association, or credit 
union or a subsidiary regulated by a Federal banking agency or an 
employee of an institution regulated by the Farm Credit Administration 
(FCA), (collectively, Agency-regulated Institutions) who engages in the 
business of a residential mortgage loan originator (MLO) to register 
with the Nationwide Mortgage Licensing System and Registry (Registry) 
and obtain a unique identifier. Agency-regulated institutions must also 
adopt and follow written policies and procedures to assure compliance 
with the S.A.F.E. Act. The Registry is intended to aggregate and 
improve the flow of information to and between regulators; provide 
increased accountability and tracking of mortgage loan originators; 
enhance consumer protections; reduce fraud in the residential mortgage 
loan origination process; and provide consumers with easily accessible 
information at no charge regarding the employment history of, and the 
publicly adjudicated disciplinary and enforcement actions against MLOs.
    Affected Public: Private Sector: Not-for-profit institutions; 
Individuals or households.
    Estimated No. of Respondents: 69,036.
    Estimated No. of Responses per Respondent: 2.21.
    Estimated Total Annual Responses: 154,733.
    Estimated Burden Hours per Response: 0.43 per individual; 6.38 per 
institution.
    Estimated Total Annual Burden Hours: 83,965.
    Reason for Change: The number of respondents have been updated to 
reflect current data reported by the Registry and the NCUA call report.
    Request for Comments: Comments submitted in response to this notice 
will be summarized and included in the request for Office of Management 
and Budget approval. All comments will become a matter of public 
record. The public is invited to submit comments concerning: (a) 
Whether the collection of information is necessary for the proper 
execution of the function of the agency, including whether the 
information will have practical utility; (b) the accuracy of the 
agency's estimate of the burden of the collection of information, 
including the validity of the methodology and assumptions used; (c) 
ways to enhance the quality, utility, and clarity of the information to 
be collected; and (d) ways to minimize the burden of the collection of 
the information on the respondents, including the use of automated 
collection techniques or other forms of information technology.

    By Gerard Poliquin, Secretary of the Board, the National Credit 
Union Administration, on November 14, 2019.

    Dated: November 15, 2019.
Dawn D. Wolfgang,
NCUA PRA Clearance Officer.
[FR Doc. 2019-25119 Filed 11-19-19; 8:45 am]
 BILLING CODE 7535-01-P