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)
Office of the Comptroller of the Currency
Federal Register Volume 80, Issue 119 (June 22, 2015)
| Page Range | 35736-35737 | |
| FR Document | 2015-15248 |
[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] ----------------------------------------------------------------------- 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. ----------------------------------------------------------------------- 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
![35736 Federal Register / Vol. 80, No. 119 / Monday, June 22, 2015 / Notices
Board of Governors of the Federal § 28.16(b). The request should describe of information; (c) Ways to enhance the
Reserve System (FRB) to establish or the types, sources, and estimated quality, utility, and clarity of the
open a foreign branch, or acquire or amount of such deposits and explain information to be collected; (d) Ways to
divest of an interest in, or close, an Edge why the OCC should grant an minimize the burden of the collection
corporation, Agreement corporation, exemption and how the exemption on respondents, including through the
foreign bank, or other foreign maintains and furthers the policies use of automated collection techniques
organization; or opens a foreign branch, described in § 28.16(a). or other forms of information
and no application or notice is required 12 CFR 28.16(d) Deposit-Taking by an technology; and (e) Estimates of capital
by the FRB for such transaction. Uninsured Federal Branch— or start-up costs and costs of operation,
In practice, the OCC also requires an Aggregation of Deposits. A foreign bank maintenance, and purchase of services
application pursuant to 12 CFR 28.3(c) that has more than one Federal branch to provide information.
from a national bank seeking to join a in the same state may aggregate deposits Dated: June 17, 2015.
foreign exchange, clearinghouse, or in all of its Federal branches in that Mary H. Gottlieb,
similar type of organization. In lieu of state, but exclude deposits of other Regulatory Specialist, Legislative and
a notice, the OCC may accept a copy of branches, agencies, or wholly owned Regulatory Activities Division.
an application, notice, or report subsidiaries of the bank. The Federal [FR Doc. 2015–15292 Filed 6–19–15; 8:45 am]
submitted to another Federal agency branch shall compute the average
BILLING CODE 4810–33–P
that covers the proposed action and amount by using the sum of deposits as
contains substantially the same of the close of business of the last 30
information required by the OCC. Under calendar days ending with, and DEPARTMENT OF THE TREASURY
12 CFR 28.3(c), a national bank shall including, the last day of the calendar
furnish the OCC with any additional quarter, divided by 30. The Federal Office of the Comptroller of the
information the OCC may require in branch shall maintain records of the Currency
connection with the national bank’s calculation until its next examination by
foreign operations. the OCC. Agency Information Collection
12 CFR 28.14(c) Limitations Based 12 CFR 28.18(c)(1) Recordkeeping and Activities: Proposed Information
upon Capital of a Foreign Bank— Reporting—Maintenance of Accounts, Collection; Submission for OMB
Aggregation. A foreign bank shall Books, and Records. Each Federal Review; Domestic Residential Home
aggregate business transacted by all branch or agency shall maintain a set of Equity Lending Data
Federal branches and agencies with the accounts and records reflecting its
business transacted by all state branches AGENCY: Office of the Comptroller of the
transactions that are separate from those
and agencies controlled by the foreign Currency (OCC), Treasury.
of the foreign bank and any other branch
bank in determining its compliance ACTION: Notice and request for comment.
or agency. The Federal branch or agency
with limitations based upon the capital shall keep a set of accounts and records SUMMARY: The OCC, as part of its
of the foreign bank. A foreign bank shall in English sufficient to permit the OCC continuing effort to reduce paperwork
designate one Federal branch or agency to examine the condition of the Federal and respondent burden, invites the
office in the United States to maintain branch or agency and its compliance
consolidated information so the OCC general public and other Federal
with applicable laws and regulations. agencies to take this opportunity to
can monitor compliance. 12 CFR 28.20(a)(1) Maintenance of
12 CFR 28.15(d), (d)(1), (d)(2), and (f) comment on an information collection,
Assets—General Rule. The OCC may as required by the Paperwork Reduction
Capital Equivalency Deposits (CED). A require a foreign bank to hold certain
foreign bank should require its Act of 1995 (PRA).
assets in the state in which its Federal In accordance with the requirements
depository bank to segregate its CED on branch or agency is located.
the depository bank’s books and of the PRA, the OCC may not conduct
12 CFR 28.22(e) Reports of or sponsor, and the respondent is not
records. The instruments making up the Examination. The Federal branch or
CED that are placed in safekeeping at a required to respond to, an information
agency shall send the OCC certification collection unless it displays a currently
depository bank to satisfy a foreign that all of its Reports of Examination
bank’s CED requirement must be valid Office of Management and Budget
have been destroyed or return its (OMB) control number. The OCC is
maintained pursuant to an agreement Reports of Examination to the OCC.
prescribed by the OCC that shall be a soliciting comment concerning its
Type of Review: Extension of a proposed information collection titled,
written agreement entered into with the currently approved collection.
OCC. Each Federal branch or agency ‘‘Domestic Residential Home Equity
Affected Public: Businesses or other Lending Data.’’ The OCC also is giving
shall maintain a capital equivalency for-profit.
account and keep records of the amount notice that the collection has been sent
Estimated Number of Respondents:
of liabilities requiring capital to OMB for review.
49.
equivalency coverage in a manner and Estimated Total Annual Burden: DATES: You should submit written
form prescribed by the OCC. A foreign 2,284. comments by: July 22, 2015.
bank’s CED may not be reduced in value Frequency of Response: On occasion. ADDRESSES: Because paper mail in the
below the minimum required for that Comments submitted in response to Washington, DC area and at the OCC is
branch or agency without the prior this notice will be summarized, subject to delay, commenters are
approval of the OCC, but in no event included in the request for OMB encouraged to submit comments by
below the statutory minimum. approval, and become a matter of public email, if possible. Comments may be
tkelley on DSK3SPTVN1PROD with NOTICES
12 CFR 28.16(c) Deposit-taking by an record. Comments are invited on: (a) sent to: Legislative and Regulatory
Uninsured Federal Branch— Whether the collection of information is Activities Division, Office of the
Application for an Exemption. A foreign necessary for the proper performance of Comptroller of the Currency, Attention:
bank may apply to the OCC for an the functions of the OCC, including 1557–NEW, 400 7th Street SW., Suite
exemption to permit an uninsured whether the information has practical 3E–218, Mail Stop 9W–11, Washington,
Federal branch to accept or maintain utility; (b) The accuracy of the OCC’s DC 20219. In addition, comments may
deposit accounts that are not listed in estimate of the burden of the collection be sent by fax to (571) 465–4326 or by
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![Federal Register / Vol. 80, No. 119 / Monday, June 22, 2015 / Notices 35737
electronic mail to prainfo@occ.treas.gov. information; loan-to-values and debt-to holding company structure. The
You may personally inspect and income-ratios; non-personally commenter recommended coordination
photocopy comments at the OCC, 400 identifiable borrower information; of the data collection with the FRB to
7th Street SW., Washington, DC 20219. bankruptcy and foreclosure status; and minimize duplicative or divergent
For security reasons, the OCC requires other loan information. The reported reporting requirements. The commenter
that visitors make an appointment to portfolio-level data would include: total suggested that the OCC consider
inspect comments. You may do so by managed Home Equity portfolio (lines accepting data currently submitted to
calling (202) 649–6700. Upon arrival, and loans), total securitized Home the FRB in connection with the FR Y–
visitors will be required to present valid Equity portfolio, and other portfolio- 14 in satisfaction of the data collection
government-issued photo identification level information. or work with the FRB to establish a
and submit to security screening in Also, in order to match senior and single set of data with identical file
order to inspect and photocopy junior lien residential mortgages on the layouts and definitions. The commenter
comments. same collateral, the OCC would collect suggested, as an alternative, having the
All comments received, including additional information (add data FRB add data elements to the FR Y–14
attachments and other supporting elements) on the residential mortgage that designate whether a loan is part of
materials, are part of the public record loans reported in Domestic First Lien the bank or a non-bank affiliate.
and subject to public disclosure. Do not Residential Mortgage and the Domestic The request for copies of the data
include any information in your Residential Home Equity Lending templates will be met by the
comment or supporting materials that datasets. This data would include: Information Collection Request, which
you consider confidential or Property and mailing address, census will be submitted to the Office of
inappropriate for public disclosure. tract, liquidation status, and original Management and Budget and made
Additionally, please send a copy of lien position. By matching the senior publicly available at www.reginfo.gov.
your comments by mail to: OCC Desk and junior liens by property ID, the OCC Furthermore, the OCC understands the
Officer, 1557–NEW, U.S. Office of would gain better insight into the level commenters concerns and is actively
Management and Budget, 725 17th of risk of both credit types, for example, exploring use of the FRB’s FR Y–14
Street NW., #10235, Washington, DC current loans secured by junior liens data, where possible, in order to
20503, or by email to: oira_submission@ behind past due loans secured by first decrease banks’ reporting burden.
omb.eop.gov. liens. The data is subject to an Comments continue to be invited on:
information security program to ensure (a) Whether the collection of
FOR FURTHER INFORMATION CONTACT:
its confidentiality. information is necessary for the proper
Shaquita Merritt, OCC Clearance performance of the functions of the
Officer, (202) 649–5490, for persons Type of Review: Regular review.
Affected Public: Businesses or other OCC, including whether the information
who are deaf or hard of hearing, TTY, shall have practical utility;
(202) 649–5597, Legislative and for-profit.
Estimated Number of Respondents: (b) The accuracy of the OCC’s
Regulatory Activities Division, Office of estimate of the burden of the collection
the Comptroller of the Currency, 400 7th 64.
Estimated Annual Responses per of information;
Street SW., Washington, DC 20219. (c) Ways to enhance the quality,
Respondent: 12.
SUPPLEMENTARY INFORMATION: The OCC Estimated Burden per Response: 430. utility, and clarity of the information to
is requesting OMB approval for the Estimated Total Annual Burden: be collected;
following information collection: 330,240 hours. (d) Ways to minimize the burden of
Title: Domestic Residential Home An agency may not conduct or the collection on respondents, including
Equity Lending Data. sponsor, and a respondent is not through the use of automated collection
OMB Control Number: To be assigned required to respond to, an information techniques or other forms of information
by OMB. collection unless the information technology; and
Description: Comprehensive home collection displays a currently valid (e) Estimates of capital or start-up
equity line of credit data is vital to OMB control number. costs and costs of operation,
assessing and monitoring credit quality The OCC published a notice regarding maintenance, and purchase of services
and loss mitigation activities in the this collection on September 5, 2014 for to provide information.
residential mortgage market and the 60 days of comment (79 FR 53102). One Dated: June 16, 2015.
federal banking system. This data is comment was received regarding the Stuart E. Feldstein,
important and necessary to support collection from a trade association. Director, Legislative and Regulatory Activities
supervisory activities to ensure the The trade association acknowledged Division.
safety and soundness of the federal that, while the notice provided a general [FR Doc. 2015–15248 Filed 6–19–15; 8:45 am]
banking system. Where the respondent description of the data requested, it did
BILLING CODE 4810–33–P
is both the servicer and originator of a not include the specific data templates.
home equity loan or line of credit, the In addition, it was not clear to the
Home Equity Residential Lending Data commenter which national banks would DEPARTMENT OF THE TREASURY
collection would include origination be subject to the data collection, the
data and only servicing data where the timeframe for submission, and the Office of the Comptroller of the
respondent services for others. Detailed effective date of the collection. The Currency
loan-level data would be collected commenter also suggested that the data
monthly and portfolio-level data collection might duplicate data that Agency Information Collection
tkelley on DSK3SPTVN1PROD with NOTICES
collected quarterly. All data collected banking organizations already are Activities: Information Collection
would be based on standard data and providing to the Federal Reserve Board Renewal; Submission for OMB Review;
definitions. (FRB) in connection with the FR Y–14 Subordinated Debt
The reported loan-level data items reporting requirements and pointed out AGENCY: Office of the Comptroller of the
would include: Loan number; property that the potential for duplication is Currency (OCC), Treasury.
information; loan, line, and appraisal especially relevant to national banks
ACTION: Notice and request for comment.
amounts; loan documentation that are the dominant subsidiary in a
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Document Created: 2018-02-22 11:13:58
Document Modified: 2018-02-22 11:13:58
| Category | Regulatory Information | |
| Collection | Federal Register | |
| sudoc Class | AE 2.7: GS 4.107: AE 2.106: | |
| Publisher | Office of the Federal Register, National Archives and Records Administration | |
| Section | Notices | |
| Action | Notice and request for comment. | |
| Dates | You should submit written comments by: July 22, 2015. | |
| 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. | |
| FR Citation | 80 FR 35736 |
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