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Federal Register / Vol. 86, No. 112 / Monday, June 14, 2021 / Notices
0243 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.
Written comments and recommendations for the proposed information collection should be sent within 30 days of publication of this notice to www.reginfo.gov/public/do/
PRAMain. Find this particular information collection by selecting Currently under 30-day ReviewOpen for Public Comments or by using the search function.
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 the following method:
Viewing Comments Electronically:
Go to www.reginfo.gov. Click on the Information Collection Review tab.
Underneath the Currently under Review section heading, from the dropdown menu select Department of Treasury and then click submit. This information collection can be located by searching by OMB control number 15570243 or Registration of Mortgage Loan Originators. 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 4827340.
FOR FURTHER INFORMATION CONTACT:
Shaquita Merritt, OCC Clearance Officer, 202 6495490, Chief Counsels Office, Office of the Comptroller of the Currency, 400 7th Street SW, Suite 3E
218, Washington, DC 20219.
SUPPLEMENTARY INFORMATION: Under the PRA 44 U.S.C. 35013520, 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. 35023 and 5 CFR
1320.3c to include agency requests or 1 On March 17, 2021, the OCC published a 60-day notice for this information collection, 86 FR 14678.

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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.
Title: Registration of Mortgage Loan Originators.
OMB Control No.: 15570243.
Description: The Secure and Fair Enforcement for Mortgage Licensing Act the S.A.F.E. Act or Act 2 requires an employee of a Federally-regulated bank, savings association, credit union, or farm credit institution and their subsidiaries collectively, institutions who engages in the business of a residential mortgage loan originator MLO and does not qualify for the de minimis exception to register with the Nationwide Mortgage Licensing System and Registry Registry and obtain a unique identifier. Further, the S.A.F.E.
Act provides that institutions must require their employees who act as MLOs to comply with the Acts registration requirements and obtain a unique identifier. Institutions must also adopt and follow written policies and procedures to ensure compliance with these requirements.
Among other things, 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.
Along with the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the National Credit Union Administration, and the Farm Credit Administration, the OCC issued a final rule implementing the S.A.F.E. Act.3 The Dodd-Frank Wall Street Reform and Consumer Protection Act Dodd-Frank Act, Public Law 111
203, later provided for the transfer of this rule to the Consumer Financial Protection Bureau CFPB, and the CFPB
republished this rule as 12 CFR part 1007.4 However, the OCC retains enforcement authority for national banks, Federal savings associations and Federal branches and agencies of foreign 2 The S.A.F.E. Act was enacted as part of the Housing and Economic Recovery Act of 2008, Public Law 110289, Division A, Title V, sections 15011517, 122 Stat. 2654, 28102824 July 30, 2008, codified at 12 U.S.C. 51015116.
3 75 FR 44656 July 28, 2010, as corrected in 75
FR 51623 Aug. 23, 2010.
4 76 FR 78487 Dec. 19, 2011.

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banks with total assets of $10 billion or less.5
MLO Reporting Requirements Except in situations where the de minimis exception applies, 12 CFR
1007.103 requires an employee of an institution who acts as an MLO to register with the Registry, obtain a unique identifier, and maintain and update such registration. This section also requires institutions to require their MLO employees to comply with these requirements. Section 1007.103d sets forth the categories of information that an institution must require each MLO
employee to submit to the Registry or submit on the employees behalf. This section also requires each MLO
employee to submit to the Registry an attestation as to the correctness of the information submitted and an authorization for the Registry and the employing institution to obtain certain additional information related to the employee.
MLO Disclosure Requirement Twelve CFR 1007.105a requires institutions to make the unique identifiers of its registered MLOs available to consumers in a manner and method practicable to the institution.
Section 1007b requires MLOs to provide their unique identifier to a consumer upon request, before acting as an MLO, and through the originators initial written communication with a consumer, if any, whether on paper or electronically.
Financial Institution Reporting Requirements Section 1007.103e specifies the institution-related and employee information an institution must submit to the Registry in connection with the initial registration of one or more MLOs and annually thereafter. The institution also must update this information within 30 days of the date that this information becomes inaccurate.
Employees of the institution who submit information to the Registry on behalf of the institution must verify their identity and attest that they have the authority to enter data on behalf of the institution, that the information submitted is correct, and that the covered financial institution will keep the required information current and will file accurate supplementary information on a timely basis.
5 See section 1025 of the Dodd-Frank Act, codified at 12 U.S.C. 5515.

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