2012-17986. Agency Information Collection Activities: Proposed Collection Renewal; Comment Request  

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    AGENCY:

    Federal Deposit Insurance Corporation (FDIC).

    ACTION:

    Notice and request for comment.

    SUMMARY:

    The FDIC, 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 renewal of an existing information collection, as required by the Paperwork Reduction Act of 1995 (44 U.S.C. chapter 35). Currently, the FDIC is soliciting comments on renewal of the information collection described below.

    DATES:

    Comments must be submitted on or before September 24, 2012.

    ADDRESSES:

    Interested parties are invited to submit written comments to the FDIC by any of the following methods:

    • http://www.FDIC.gov/​regulations/​laws/​federal/​notices.html
    • Email: comments@fdic.gov Include the name of the collection in the subject line of the message.
    • Mail: Leneta G. Gregorie (202-898-3719), Counsel, Room NYA-5050, Federal Deposit Insurance Corporation, 550 17th Street NW., Washington, DC 20429.
    • Hand Delivery: Comments may be hand-delivered to the guard station at the rear of the 17th Street Building (located on F Street), on business days between 7:00 a.m. and 5:00 p.m.

    All comments should refer to the relevant OMB control number. A copy of the comments may also be submitted to the OMB desk officer for the FDIC: Office of Information and Regulatory Affairs, Office of Management and Budget, New Executive Office Building, Washington, DC 20503.

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    FOR FURTHER INFORMATION CONTACT:

    Leneta G. Gregorie, at the FDIC address above.

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    SUPPLEMENTARY INFORMATION:

    Proposal to renew the following currently approved collection of information:

    Title: Registration of Mortgage Loan Originators.

    OMB Number: 3064-0171.

    Total Estimated Annual Burden: 608,867 with a breakdown as follows—

    A. Financial Institution Policies and Procedures for Ensuring Employee-Mortgage Loan Originator Compliance with S.A.F.E. Act Requirements

    Affected Public: FDIC-supervised institutions.

    Estimated Number of Respondents: 4,080.

    Frequency of Response: Annually.

    Estimated Time per Response: 20 hours.

    Estimated Annual Burden: 81,600 hours.

    B. Financial Institution Procedures To Track and Monitor Compliance With S.A.F.E. Act Compliance

    Affected Public: FDIC-supervised institutions.

    Estimated Number of Respondents: 4,080.

    Frequency of Response: Annually.

    Estimated Time per Response: 60 hours.

    Estimated Annual Burden: 244,800 hours.

    C. Financial Institution Procedures for the Collection and Maintenance of Employee Mortgage Loan Originators Criminal History Background Reports

    Affected Public: FDIC-supervised institutions.

    Estimated Number of Respondents: 4,080.

    Frequency of Response: Annually.

    Estimated Time per Response: 20 hours.

    Estimated Annual Burden: 81,600 hours.

    D. Financial Institution Procedures for Public Disclosure of Mortgage Loan Originator's Unique Identifier

    Affected Public: FDIC-supervised institutions.

    Estimated Number of Respondents: 4,080.

    Frequency of Response: Annually

    Estimated Time per Response: 25 hours.

    Estimated Annual Burden: 102,000 hours.

    E. Financial Institution Information Reporting to Registry

    Affected Public: FDIC-supervised institutions.

    Estimated Number of Respondents: 4,080.

    Frequency of Response: Annually.

    Estimated Time per Response: 15 minutes.

    Estimated Annual Burden: 1,020 hours.

    F. Financial Institution Procedures for the Collection of Employee Mortgage Loan Originator's Fingerprints

    Affected Public: FDIC-supervised institutions.

    Estimated Number of Respondents: 4,080.

    Frequency of Response: Annually.

    Estimated Time per Response: 4 hours.

    Estimated Annual Burden: 16,320 hours.

    G. Mortgage Loan Originator Initial and Annual Renewal Registration Reporting and Authorization Requirements

    Affected Public: Employee Mortgage Loan Originators.

    Estimated Number of Respondents: 59,292.

    Frequency of Response: Annually.

    Estimated Time per Response: 15 minutes.

    Estimated Annual Burden: 14,823 hours.

    H. Mortgage Loan Originator Registration Updates Upon Change in Circumstances

    Affected Public: Employee Mortgage Loan Originators.

    Estimated Number of Respondents: 29,646.

    Frequency of Response: On occasion.

    Estimated Time per Response: 15 minutes.

    Estimated Annual Burden: 7,412 hours.

    I. Mortgage Loan Originator Procedures for Disclosure to Consumers of Unique Identifier

    Affected Public: Employee Mortgage Loan Originators.

    Estimated Number of Respondents: 59,292.

    Frequency of Response: Annually.

    Estimated Time per Response: 1 hour.

    Estimated Annual Burden: 59,292 hours.

    Request for Comment

    Comments are invited on: (a) Whether the collection of information is necessary for the proper performance of the FDIC's functions, including whether the information has practical utility; (b) the accuracy of the estimates of the burden of the information collection, 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 information collection on respondents, including through the use of automated collection techniques or other forms of information technology. All comments will become a matter of public record.

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    Dated at Washington, DC, this 19th day of July 2012.

    Federal Deposit Insurance Corporation.

    Robert E. Feldman,

    Executive Secretary.

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    [FR Doc. 2012-17986 Filed 7-23-12; 8:45 am]

    BILLING CODE 6714-01-P

Document Information

Comments Received:
0 Comments
Published:
07/24/2012
Department:
Federal Deposit Insurance Corporation
Entry Type:
Notice
Action:
Notice and request for comment.
Document Number:
2012-17986
Dates:
Comments must be submitted on or before September 24, 2012.
Pages:
43283-43284 (2 pages)
PDF File:
2012-17986.pdf