80 FR 35736 - Agency Information Collection Activities: Proposed Information Collection; Submission for OMB Review; Domestic Residential Home Equity Lending Data

DEPARTMENT OF THE TREASURY
Office of the Comptroller of the Currency

Federal Register Volume 80, Issue 119 (June 22, 2015)

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 an information collection, as required by the Paperwork Reduction Act of 1995 (PRA). In accordance with the requirements of the PRA, the OCC may not conduct or sponsor, and the respondent is 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 its proposed information collection titled, ``Domestic Residential Home Equity Lending Data.'' The OCC also is giving notice that the collection has been sent to OMB for review.

[Federal Register Volume 80, Number 119 (Monday, June 22, 2015)]
[Notices]
[Pages 35736-35737]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2015-15248]


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DEPARTMENT OF THE TREASURY

Office of the Comptroller of the Currency


Agency Information Collection Activities: Proposed Information 
Collection; Submission for OMB Review; Domestic Residential Home Equity 
Lending Data

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 an information 
collection, as required by the Paperwork Reduction Act of 1995 (PRA).
    In accordance with the requirements of the PRA, the OCC may not 
conduct or sponsor, and the respondent is 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 its proposed information collection titled, 
``Domestic Residential Home Equity Lending Data.'' The OCC also is 
giving notice that the collection has been sent to OMB for review.

DATES: You should submit written comments by: July 22, 2015.

ADDRESSES: Because paper mail in the Washington, DC area and at the OCC 
is subject to delay, commenters are encouraged to submit comments by 
email, if possible. Comments may be sent to: Legislative and Regulatory 
Activities Division, Office of the Comptroller of the Currency, 
Attention: 1557-NEW, 400 7th Street SW., Suite 3E-218, Mail Stop 9W-11, 
Washington, DC 20219. In addition, comments may be sent by fax to (571) 
465-4326 or by

[[Page 35737]]

electronic mail to [email protected]. You may personally inspect 
and photocopy comments at the OCC, 400 7th Street SW., Washington, DC 
20219. For security reasons, the OCC requires that visitors make an 
appointment to inspect comments. You may do so by calling (202) 649-
6700. Upon arrival, visitors will be required to present valid 
government-issued photo identification and submit to security screening 
in order to inspect and photocopy comments.
    All 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].

FOR FURTHER INFORMATION CONTACT: Shaquita Merritt, OCC Clearance 
Officer, (202) 649-5490, for persons who are deaf or hard of hearing, 
TTY, (202) 649-5597, Legislative and Regulatory Activities Division, 
Office of the Comptroller of the Currency, 400 7th Street SW., 
Washington, DC 20219.

SUPPLEMENTARY INFORMATION: The OCC is requesting OMB approval for the 
following information collection:
    Title: Domestic Residential Home Equity Lending Data.
    OMB Control Number: To be assigned by OMB.
    Description: Comprehensive home equity line of credit data is vital 
to assessing and monitoring credit quality and loss mitigation 
activities in the residential mortgage market and the federal banking 
system. This data is important and necessary to support supervisory 
activities to ensure the safety and soundness of the federal banking 
system. Where the respondent is both the servicer and originator of a 
home equity loan or line of credit, the Home Equity Residential Lending 
Data collection would include origination data and only servicing data 
where the respondent services for others. Detailed loan-level data 
would be collected monthly and portfolio-level data collected 
quarterly. All data collected would be based on standard data and 
definitions.
    The reported loan-level data items would include: Loan number; 
property information; loan, line, and appraisal amounts; loan 
documentation information; loan-to-values and debt-to income-ratios; 
non-personally identifiable borrower information; bankruptcy and 
foreclosure status; and other loan information. The reported portfolio-
level data would include: total managed Home Equity portfolio (lines 
and loans), total securitized Home Equity portfolio, and other 
portfolio-level information.
    Also, in order to match senior and junior lien residential 
mortgages on the same collateral, the OCC would collect additional 
information (add data elements) on the residential mortgage loans 
reported in Domestic First Lien Residential Mortgage and the Domestic 
Residential Home Equity Lending datasets. This data would include: 
Property and mailing address, census tract, liquidation status, and 
original lien position. By matching the senior and junior liens by 
property ID, the OCC would gain better insight into the level of risk 
of both credit types, for example, current loans secured by junior 
liens behind past due loans secured by first liens. The data is subject 
to an information security program to ensure its confidentiality.
    Type of Review: Regular review.
    Affected Public: Businesses or other for-profit.
    Estimated Number of Respondents: 64.
    Estimated Annual Responses per Respondent: 12.
    Estimated Burden per Response: 430.
    Estimated Total Annual Burden: 330,240 hours.
    An agency may not conduct or sponsor, and a respondent is not 
required to respond to, an information collection unless the 
information collection displays a currently valid OMB control number.
    The OCC published a notice regarding this collection on September 
5, 2014 for 60 days of comment (79 FR 53102). One comment was received 
regarding the collection from a trade association.
    The trade association acknowledged that, while the notice provided 
a general description of the data requested, it did not include the 
specific data templates. In addition, it was not clear to the commenter 
which national banks would be subject to the data collection, the 
timeframe for submission, and the effective date of the collection. The 
commenter also suggested that the data collection might duplicate data 
that banking organizations already are providing to the Federal Reserve 
Board (FRB) in connection with the FR Y-14 reporting requirements and 
pointed out that the potential for duplication is especially relevant 
to national banks that are the dominant subsidiary in a holding company 
structure. The commenter recommended coordination of the data 
collection with the FRB to minimize duplicative or divergent reporting 
requirements. The commenter suggested that the OCC consider accepting 
data currently submitted to the FRB in connection with the FR Y-14 in 
satisfaction of the data collection or work with the FRB to establish a 
single set of data with identical file layouts and definitions. The 
commenter suggested, as an alternative, having the FRB add data 
elements to the FR Y-14 that designate whether a loan is part of the 
bank or a non-bank affiliate.
    The request for copies of the data templates will be met by the 
Information Collection Request, which will be submitted to the Office 
of Management and Budget and made publicly available at 
www.reginfo.gov. Furthermore, the OCC understands the commenters 
concerns and is actively exploring use of the FRB's FR Y-14 data, where 
possible, in order to decrease banks' reporting burden.
    Comments continue to be invited on:
    (a) Whether the collection of information is necessary for the 
proper performance of the functions of the OCC, including whether the 
information shall have practical utility;
    (b) The accuracy of the OCC's estimate of the burden of the 
collection of information;
    (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: June 16, 2015.
Stuart E. Feldstein,
Director, Legislative and Regulatory Activities Division.
[FR Doc. 2015-15248 Filed 6-19-15; 8:45 am]
BILLING CODE 4810-33-P