[Federal Register Volume 84, Number 67 (Monday, April 8, 2019)]
[Notices]
[Page 13911]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2019-06789]


=======================================================================
-----------------------------------------------------------------------

BUREAU OF CONSUMER FINANCIAL PROTECTION

[Docket No. CFPB-2019-0016]


Agency Information Collection Activities: Comment Request

AGENCY: Bureau of Consumer Financial Protection.

ACTION: Notice and request for comment.

-----------------------------------------------------------------------

SUMMARY: In accordance with the Paperwork Reduction Act of 1995 (PRA), 
the Bureau of Consumer Financial Protection (Bureau) is requesting to 
renew the Office of Management and Budget (OMB) approval for an 
existing information collection titled, ``Real Estate Settlement 
Procedures Act (Regulation X) 12 CFR 1024.''

DATES: Written comments are encouraged and must be received on or 
before June 7, 2019 to be assured of consideration.

ADDRESSES: You may submit comments, identified by the title of the 
information collection, OMB Control Number (see below), and docket 
number (see above), by any of the following methods:
     Electronic: Go to http://www.regulations.gov. Follow the 
instructions for submitting comments.
     Email: [email protected]. Include Docket No. CFPB-
2019-0016 in the subject line of the message.
     Mail: Comment Intake, Bureau of Consumer Financial 
Protection (Attention: PRA Office), 1700 G Street NW, Washington, DC 
20552.
     Hand Delivery/Courier: Comment Intake, Bureau of Consumer 
Financial Protection (Attention: PRA Office), 1700 G Street NW, 
Washington, DC 20552.
Please note that comments submitted after the comment period will not 
be accepted. In general, all comments received will become public 
records, including any personal information provided. Sensitive 
personal information, such as account numbers or Social Security 
numbers, should not be included.

FOR FURTHER INFORMATION CONTACT: Documentation prepared in support of 
this information collection request is available at 
www.regulations.gov. Requests for additional information should be 
directed to Darrin King, PRA Officer, at (202) 435-9575, or email: 
[email protected]. If you require this document in an alternative 
electronic format, please contact [email protected]. Please 
do not submit comments to these email boxes.

SUPPLEMENTARY INFORMATION: 
    Title of Collection: Real Estate Settlement Procedures Act 
(Regulation X) 12 CFR 1024.
    OMB Control Number: 3170-0016.
    Type of Review: Extension without change of an existing information 
collection.
    Affected Public: Businesses and other for-profit entities.
    Estimated Number of Respondents: 12,506.
    Estimated Total Annual Burden Hours: 1,203,301.
    Abstract: The Real Estate Settlement Procedures Act of 1974 
(RESPA), 12 U.S.C. 2601 et seq., as amended, requires lenders, mortgage 
brokers, or servicers of certain home loans to provide borrowers with 
pertinent and timely disclosures regarding the nature and costs of the 
real estate settlement process, as well as servicing, including 
escrowing. The RESPA also prohibits specific practices, such as 
kickbacks, and places limitations upon the use of escrow accounts, 
among other things.
    The Dodd-Frank Act amended RESPA by, among other things, requiring 
a single, integrated disclosure for mortgage loan transactions, 
mandating new disclosures and protections concerning force-placed 
hazard insurance, revising requirements for home buying information 
booklets, reducing response times to borrower inquiries, and settling 
time limits on refunds of escrow account balances at payoff. 12 U.S.C. 
2603, 2604, and 2605.
    Regulation X, 12 CFR 1024, which implements RESPA. Regulation X 
contains information collections in the form of third party disclosures 
and recordkeeping requirements. The third party disclosures in this 
collection are required by statute and regulations. [Borrowers use the 
disclosures required by RESPA and Regulation X to understand the nature 
and costs of the real estate settlement process and servicing, 
including escrowing The information collections discussed in this 
supporting statement are required in Regulation X, but to the extent 
that compliance with requirements in Regulation Z (12 CFR 1026) 
provides an exemption from compliance with similar requirements in 
Regulation X, the information collection burden is accounted for in OMB 
Control Number 3170-0015.
    Request for Comments: Comments are invited on: (a) Whether the 
collection of information is necessary for the proper performance of 
the functions of the Bureau, including whether the information will 
have practical utility; (b) The accuracy of the Bureau's estimate of 
the burden of the collection of information, including the validity of 
the methods and the 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 information on respondents, 
including through the use of automated collection techniques or other 
forms of information technology. Comments submitted in response to this 
notice will be summarized and/or included in the request for OMB 
approval. All comments will become a matter of public record.

    Dated: April 2, 2019.
Darrin A. King,
Paperwork Reduction Act Officer, Bureau of Consumer Financial 
Protection.
[FR Doc. 2019-06789 Filed 4-5-19; 8:45 am]
 BILLING CODE 4810-AM-P