[Federal Register Volume 87, Number 77 (Thursday, April 21, 2022)]
[Notices]
[Pages 23911-23913]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2022-08534]


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DEPARTMENT OF THE TREASURY

Office of the Comptroller of the Currency


Agency Information Collection Activities: Information Collection 
Revision; Comment Request; Regulation C--Home Mortgage Disclosure Act

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

ACTION: Notice and request for comment.

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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 Act.''

DATES: Comments must be submitted on or before June 21, 2022.

ADDRESSES:  Commenters are encouraged to submit comments by email, if 
possible. You may submit comments by any of the following methods:
    <bullet> Email: <a href="/cdn-cgi/l/email-protection#d3a3a1b2babdb5bc93bcb0b0fda7a1b6b2a0fdb4bca5"><span class="__cf_email__" data-cfemail="ddadafbcb4b3bbb29db2bebef3a9afb8bcaef3bab2ab">[email protected]</span></a>.
    <bullet> Mail: Chief Counsel's Office, Attention: Comment 
Processing, Office of the Comptroller of the Currency, Attention: 1557-
0345, 400 7th Street SW, Suite 3E-218, Washington, DC 20219.
    <bullet> Hand Delivery/Courier: 400 7th Street SW, Suite 3E-218, 
Washington, DC 20219.
    <bullet> Fax: (571) 465-4326.
    Instructions: You must include ``OCC'' as the agency name and 
``1557-0345'' 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

[[Page 23912]]

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.
    Following the close of this notice's 60-day comment period, the OCC 
will publish a second notice with a 30-day comment period. You may 
review comments and other related materials that pertain to this 
information collection beginning on the date of publication of the 
second notice for this collection by the method set forth in the next 
bullet. Following the close of this notice's 60-day comment period, the 
OCC will publish a second notice with a 30-day comment period.
    <bullet> Viewing Comments Electronically: Go to www.reginfo.gov. 
Hover over the ``Information Collection Review'' drop down menu. From 
the ``Currently under Review'' drop-down menu, select ``Department of 
Treasury'' and then click ``submit.'' This information collection can 
be located by searching by OMB control number ``1557-0345'' or 
``Regulation C--Home Mortgage Disclosure Act.'' 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.
    <bullet> For assistance in navigating www.reginfo.gov, please 
contact the Regulatory Information Service Center at (202) 482-7340.

FOR FURTHER INFORMATION CONTACT: Shaquita Merritt, OCC Clearance 
Officer, (202) 649-5490, Chief Counsel's Office, Office of the 
Comptroller of the Currency, 400 7th Street SW, Washington, DC 20219. 
If you are deaf, hard of hearing, or have a speech disability, please 
dial 7-1-1 to access telecommunications relay services.

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. 
Section 3506(c)(2)(A) of title 44 requires Federal agencies to provide 
a 60-day notice in the Federal Register concerning each proposed 
collection of information, including each proposed revision of an 
existing collection of information, before submitting the collection to 
OMB for approval. To comply with this requirement, the OCC is 
publishing this notice.
    Title: Regulation C--Home Mortgage Disclosure Act.
    OMB Control No.: 1557-0345.
    Type of Review: Regular review.
    Abstract: Regulation C,\1\ which implements the Home Mortgage 
Disclosure Act (HMDA) \2\ 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 depository and non-depository 
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.
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    \1\ 12 CFR part 1003.
    \2\ 12 U.S.C. 2801-2811.
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    Twelve CFR 1003.5 requires the disclosure and reporting of data on 
mortgage loans. Section 1003.5(a)(1)(i) provides that by March 1 
following the calendar year for which data are collected and recorded, 
a financial institution must submit its annual loan/application 
register in electronic format to the appropriate Federal agency at the 
address identified by such agency. An authorized representative of the 
financial institution with knowledge of the data submitted must certify 
to the accuracy and completeness of data submitted. The financial 
institution must retain a copy of its annual loan/application register 
for at least three years.
    Section 1003.5(a)(1)(ii) provides that within 60 calendar days 
after the end of each calendar quarter except the fourth quarter, a 
financial institution that reported for the preceding calendar year at 
least 60,000 covered loans and applications, combined, excluding 
purchased covered loans, must submit to the appropriate Federal agency 
its loan/application register containing all data required to be 
recorded for that quarter. The financial institution must submit its 
quarterly loan/application register pursuant to in electronic format at 
the address identified by the appropriate Federal agency for the 
institution.
    Under section 1003.5(a)(2), a financial institution that is a 
subsidiary of a bank or savings association must complete a separate 
loan/application register. The subsidiary must submit the loan/
application register, directly or through its parent, to the 
appropriate Federal agency for the subsidiary's parent at the address 
identified by the agency.
    Section 1003.5(b)(1) provides that the Federal Financial 
Institutions Examination Council (FFIEC) will make available a 
disclosure statement based on the data each financial institution 
submits for the preceding calendar year.
    Section 1003.5(b)(2) provides that no later than three business 
days after receiving notice from the FFIEC that a financial 
institution's disclosure statement is available, the financial 
institution must make available to the public upon request at its home 
office, and each branch office physically located in each Metropolitan 
Statistical Area (MSA) and each Metropolitan Division (MD), a written 
notice that clearly conveys that the institution's disclosure statement 
may be obtained on the CFPB's website. A financial institution must 
make this notice available for a period of three years.
    Section 1003.5(c)(1) provides that a financial institution must 
make available to the public upon request at its home office, and each 
branch office physically located in each MSA and each MD, a written 
notice that clearly conveys that the institution's loan/application 
register, as modified by the CFPB to protect applicant and borrower 
privacy, may be obtained on the CFPB's website. A financial institution 
shall make available the notice following the calendar year for which 
the data are collected. A financial institution must make the notice 
available to the public for a period of five years.
    Section 1003.5(d)(2) provides that a financial institution may make 
available to the public, at its discretion its disclosure statement or 
its loan/application register, as modified by the CFPB to protect 
applicant and borrower privacy.
    Section 1003.5(e) provides that a financial institution must post a 
general notice about the availability of its HMDA data in the lobby of 
its home office and of each branch office physically located in each 
MSA and each MD. This notice must clearly convey that the institution's 
HMDA data is available on the CFPB's website.
    Affected Public: Businesses or other for-profit.
    Burden Estimates:
    Estimated Number of Respondents: 437.

[[Page 23913]]

    Estimated Annual Burden: 609,100 hours.
    Frequency of Response: On occasion.
    Comments: Comments submitted in response to this notice will be 
summarized and included in the request for OMB approval. All comments 
will become a matter of public record. Comments are invited on:
    (a) Whether the collection of information is 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 estimate 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.

Theodore J. Dowd,
Deputy Chief Counsel, Office of the Comptroller of the Currency.
[FR Doc. 2022-08534 Filed 4-20-22; 8:45 am]
BILLING CODE 4810-33-P


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