[Federal Register Volume 77, Number 187 (Wednesday, September 26, 2012)]
[Notices]
[Pages 59192-59193]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2012-23652]


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FEDERAL DEPOSIT INSURANCE CORPORATION


Agency Information Collection Activities: Submission for OMB 
Review; Comment Request; Registration of Mortgage Loan Originators

AGENCY: Federal Deposit Insurance Corporation (FDIC).

ACTION: Notice and request for comment.

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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). On July 24, 2012 (77 FR 43283), the FDIC 
solicited public comment for a 60-day period on renewal of the 
following information collection: Registration of Mortgage Loan 
Originators (OMB No. 3064-0171). No comments were received. Therefore, 
the FDIC hereby gives notice of submission of its request for renewal 
to OMB for review.

DATES: Comments must be submitted on or before October 26, 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: [email protected]. 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.

FOR FURTHER INFORMATION CONTACT: Leneta G. Gregorie, at the FDIC 
address above.

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.

[[Page 59193]]

    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.

    Dated at Washington, DC, this 21 day of September 2012.

Federal Deposit Insurance Corporation.
Valerie J. Best,
Assistant Executive Secretary.
[FR Doc. 2012-23652 Filed 9-25-12; 8:45 am]
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