[Federal Register Volume 84, Number 97 (Monday, May 20, 2019)]
[Notices]
[Pages 22935-22936]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2019-10441]



[[Page 22935]]

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

DEPARTMENT OF THE TREASURY

Office of the Comptroller of the Currency


Agency Information Collection Activities: Information Collection 
Revision; Submission for OMB Review; Regulation C--Home Mortgage 
Disclosure

AGENCY: Office of the Comptroller of the Currency (OCC), Treasury.

ACTION: Notice and request for comment.

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

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.'' The OCC also is giving notice that it has sent the 
collection to OMB for review.

DATES: Comments must be submitted on or before June 19, 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-NEW, 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-NEW'' 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.
    Additionally, please send a copy of your comments by mail to: OCC 
Desk Officer, 1557-NEW, U.S. Office of Management and Budget, 725 17th 
Street NW, #10235, Washington, DC 20503 or by email to 
[email protected].
    You may review comments and other related materials that pertain to 
this information collection \1\ following the close of the 30-day 
comment period for this notice by any of the following methods:
---------------------------------------------------------------------------

    \1\ On February 14, 2019, the OCC published a 60-day notice for 
this information collection, 84 FR 4129.
---------------------------------------------------------------------------

     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 title, 
``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. 
The OCC asks that OMB extend its approval of this collection of 
information.
    Title: Regulation C--Home Mortgage Disclosure Act.
    OMB Control Nos.: 1557-NEW.\2\
    Type of Review: Regular review.
    Description: Regulation C,\3\ which implements the Home Mortgage 
Disclosure Act \4\ (HMDA), 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 data about loan applications that do not result in 
originations. HMDA requires the generation of 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.
---------------------------------------------------------------------------

    \2\ Regulation C is currently covered by OMB Control No. 1557-
0176, which also covers other consumer regulations. The OCC is 
requesting a new control number for Regulation C only.
    \3\ 12 CFR part 1003.
    \4\ 12 U.S.C. 2801-2811.
---------------------------------------------------------------------------

    The Dodd-Frank Wall Street Reform and Consumer Protection Act of 
2010 \5\ (the Dodd-Frank Act) transferred HMDA and its 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.
---------------------------------------------------------------------------

    \5\ Pub. L. 111-203, July 21, 2010.
---------------------------------------------------------------------------

    On October 28, 2015, the CFPB published a final rule that expanded 
the data collected and reported under HMDA, as implemented by 
Regulation C. On September 13, 2017, the CFPB published a final rule 
with additional corrections and clarifications (final rules). The final 
rules also modified the types of lenders and loans covered under 
Regulation C. For data collected in 2017 and reported in 2018, the rule 
reduces the number of institutions covered under Regulation C as only 
depository institutions that originate more than 25 closed-end loans 
must report the data. Beginning on January 1, 2018, institutions were 
required to begin collecting expanded data under HMDA if, in addition 
to meeting other criteria, they originate 25 or more closed-end

[[Page 22936]]

mortgage loans or 500 or more open-end lines of credit secured by a 
dwelling in each of the two preceding years. These institutions will 
begin reporting the expanded HMDA data in 2019, except to the extent 
they are covered by a partial exemption contained in a later 2018 rule 
(discussed below). Beginning in 2020, institutions will be required to 
collect data on open-end lines of credit if they originates more than 
100 open-end lines of credit secured by a dwelling in each of the two 
preceding years (and report that open-end lines of credit data 
beginning in 2021). Institutions also will collect and report covered 
loans and applications quarterly if they reported a total of at least 
60,000 covered loans and applications in the preceding calendar year. 
Institutions must report a covered loan if it has met the loan 
origination threshold for that loan category (open-end or closed-end); 
an institution that is not required to report data may voluntarily do 
so.
    In addition, the types of loans covered under Regulation C changed 
under the final rules beginning in 2018. Covered institutions are now 
required to collect and report any mortgage loan secured by a dwelling, 
including open-end lines of credit, regardless of the loan's purpose. 
Dwelling-secured loans that are made principally for a commercial or 
business purpose, as well as agricultural-purpose loans and other 
specified loans, are excluded.
    On September 7, 2018, the CFPB issued an interpretive and 
procedural rule \6\ to implement section 104(a) of the Economic Growth, 
Regulatory Relief, and Consumer Protection Act \7\ (EGRRCPA). Section 
104(a) amended certain provisions of the Home Mortgage Disclosure Act 
(HMDA) by adding partial exemptions from HMDA's requirements for 
certain insured depository institutions and insured credit unions. 
Insured depository institutions and insured credit unions covered by a 
partial exemption have the option of reporting exempt data fields as 
long as they report all data fields within any exempt data point for 
which they report data.
---------------------------------------------------------------------------

    \6\ 83 FR 45325.
    \7\ Pub. L. 115-174, 132 Stat. 1296 (2018).
---------------------------------------------------------------------------

    Section 104(a) of the EGRRCPA amends HMDA section 304(i), which 
provides that the requirements of HMDA sections 304(b)(5) and (6) shall 
not apply with respect to closed-end mortgage loans of an insured 
depository institution or insured credit union if it originated fewer 
than 500 closed-end mortgage loans in each of the two preceding 
calendar years. Sections 304(b)(5) and (6) of HMDA do not apply to 
open-end lines of credit of an insured depository institution or 
insured credit union if it originated fewer than 500 open-end lines of 
credit in each of the two preceding calendar years. An insured 
depository institution still must comply with HMDA section 304(b)(5) 
and (6) if it has received a rating of ``needs to improve record of 
meeting community credit needs'' during each of its two most recent 
examinations or a rating of ``substantial noncompliance in meeting 
community credit needs'' on its most recent Community Reinvestment Act 
examination.
    We have adjusted our burden estimates based on section 104(a). We 
are soliciting comment on the questions set forth below in light of the 
section 104(a) changes.
    Affected Public: Businesses or other for-profit.
    Burden Estimates:
    2018:
    Estimated Number of Respondents: 683.
    Estimated Annual Burden: 723,233 hours.
    2019:
    Estimated Number of Respondents: 683.
    Estimated Annual Burden: 635,938 hours.
    Frequency of Response: On occasion.
    Comments: On February 14, 2019, the OCC published a notice for 60 
days of comment regarding this collection. No comments were received. 
Comments continue to be 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: May 14, 2019.
Theodore J. Dowd,
Deputy Chief Counsel, Office of the Comptroller of the Currency.
[FR Doc. 2019-10441 Filed 5-17-19; 8:45 am]
BILLING CODE 4810-33-P