[Federal Register Volume 85, Number 17 (Monday, January 27, 2020)]
[Notices]
[Page 4721]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-01266]


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NATIONAL CREDIT UNION ADMINISTRATION


Submission for OMB Review; Comment Request

AGENCY: National Credit Union Administration (NCUA).

ACTION: Notice.

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SUMMARY: The National Credit Union Administration (NCUA) will submit 
the following information collection request to the Office of 
Management and Budget (OMB) for review and clearance in accordance with 
the Paperwork Reduction Act of 1995, on or after the date of 
publication of this notice.

DATES: Comments should be received on or before February 26, 2020 to be 
assured of consideration.

ADDRESSES: Send comments regarding the burden estimates, or any other 
aspect of the information collections, including suggestions for 
reducing the burden, to (1) Office of Information and Regulatory 
Affairs, Office of Management and Budget, Attention: Desk Officer for 
NCUA, New Executive Office Building, Room 10235, Washington, DC 20503, 
or email at [email protected] and (2) NCUA PRA Clearance 
Officer, 1775 Duke Street, Suite 6032, Alexandria, VA 22314, or email 
at [email protected].

FOR FURTHER INFORMATION CONTACT: Copies of the submission may be 
obtained by contacting Dawn Wolfgang at (703) 548-2279, emailing 
[email protected], or viewing the entire information collection 
request at www.reginfo.gov.

SUPPLEMENTARY INFORMATION: 
    OMB Number: 3133-0181.
    Type of Review: Extension of a currently approved collection.
    Title: Registration of Mortgage Loan Originators.
    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.
    Estimated Total Annual Burden Hours: 83,965.
    By Gerard Poliquin, Secretary of the Board, the National Credit 
Union Administration, on January 22, 2020.

    Dated: January 22, 2020.
Dawn D. Wolfgang,
NCUA PRA Clearance Officer.
[FR Doc. 2020-01266 Filed 1-24-20; 8:45 am]
 BILLING CODE 7535-01-P