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[Federal Register Volume 77, Number 78 (Monday, April 23, 2012)]
[Notices]
[Pages 24182-24183]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2012-9645]

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BUREAU OF CONSUMER FINANCIAL PROTECTION

Submission for OMB Review; Comment Request

AGENCY: Bureau of Consumer Financial Protection.

ACTION: Notice and request for comments.

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SUMMARY: The Bureau of Consumer Financial Protection (Bureau), 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 proposed and/or continuing information 
collections, as required by the Paperwork Reduction Act of 1995, Public 
Law 104-13 (44 U.S.C. 3507(c)(2)(A)). The Bureau is soliciting comments 
regarding the information collection requirements relating to the Real 
Estate Settlement Procedures Act

[[Page 24183]]

that have been submitted to the Office of Management and Budget for 
review and approval. A copy of the submission may be obtained by 
contacting the agency contact listed below.

DATES: Written comments are encouraged and must be received on or 
before May 23, 2012 to be assured of consideration.

ADDRESSES: You may submit comments, identified by OMB number 3170-0016, 
by any of the following methods:
     Agency Contact: Consumer Financial Protection Bureau 
(Attention: PRA Office), 1700 G Street NW., Washington, DC 20552: (202) 
435-7741: [email protected].
     OMB Reviewer: Shagufta Ahmed, Office of Management and 
Budget, New Executive Office Building, Room 10235, Washington, DC 
20503; (202) 395-7873.

FOR FURTHER INFORMATION CONTACT: Requests for additional information 
should be directed to Joseph Durbala, (202) 435-7893, at the Consumer 
Financial Protection Bureau, (Attention: Joseph Durbala, PRA Office) 
1700 G Street NW., Washington, DC 20552, or through the internet at 
[email protected].

SUPPLEMENTARY INFORMATION: 
    Title: Real Estate Settlement Procedures Act (Regulation X) 12 CFR 
Part 1024.
    OMB Number: 3170-0016.
    Abstract: Certain disclosures are required by the Real Estate 
Settlement Procedures Act (RESPA) of 1974, as amended by Section 461 of 
the Housing and Urban-Rural Recovery Act of 1983 (HURRA), and other 
various amendments. Required disclosures include: The Good Faith 
Estimate (GFE), the Special Information Booklet, the HUD-1/HUD-1A 
Settlement Statements, the Servicing Disclosure Statement, and, as 
applicable, the Servicing Transfer Disclosure. Other disclosures may be 
required under certain circumstances and include: The Initial Escrow 
Account Statement, the Annual Escrow Account Statement, the Affiliated 
Business Disclosure, and the Consumer Disclosure for Voluntary Escrow 
Account Payments. This collection helps to protect consumers in several 
respects. The Special Information Booklet helps to protect consumers 
from unnecessarily high settlement costs by providing information about 
the nature and cost of real estate settlement services. The GFE and 
HUD-1/HUD-1A Settlement Statements enable consumers to compare 
estimated settlement costs with actual settlement costs. The Affiliated 
Business Disclosure helps to protect borrowers from unnecessarily high 
settlement service charges due to the settlement service provider's use 
of an affiliated provider. Disclosures related to the servicing of the 
mortgage loan help to protect consumers if the servicing of the loan 
could be or is transferred. Disclosures related to consumers' escrow 
accounts help to protect them from unnecessarily high escrow charges.
    Affected Public: Businesses or other for profits.
    Estimated Number of Responses: 149,590,000.
    Estimated Time per Response: 7 Minutes.
    Estimated Total Annual Burden Hours: 17,183,000.

    Dated: April 6, 2012.
Chris Willey,
Chief Information Officer, Bureau of Consumer Financial Protection.
[FR Doc. 2012-9645 Filed 4-20-12; 8:45 am]
BILLING CODE 4810-AM-P
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