81 FR 76924 - Agency Information Collection Activities: Comment Request

BUREAU OF CONSUMER FINANCIAL PROTECTION

Federal Register Volume 81, Issue 214 (November 4, 2016)

In accordance with the Paperwork Reduction Act of 1995 (PRA), the Bureau of Consumer Financial Protection (Bureau) is requesting to renew the Office of Management and Budget (OMB) approval for an existing information collection titled, ``Truth In Lending Act (Regulation Z)--Appraisals For Higher-Priced Mortgage Loans.''

[Federal Register Volume 81, Number 214 (Friday, November 4, 2016)]
[Notices]
[Page 76924]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2016-26678]


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BUREAU OF CONSUMER FINANCIAL PROTECTION

[Docket No. CFPB-2016-0046]


Agency Information Collection Activities: Comment Request

AGENCY: Bureau of Consumer Financial Protection.

ACTION: Notice and request for comment.

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SUMMARY: In accordance with the Paperwork Reduction Act of 1995 (PRA), 
the Bureau of Consumer Financial Protection (Bureau) is requesting to 
renew the Office of Management and Budget (OMB) approval for an 
existing information collection titled, ``Truth In Lending Act 
(Regulation Z)--Appraisals For Higher-Priced Mortgage Loans.''

DATES: Written comments are encouraged and must be received on or 
before January 3, 2017 to be assured of consideration.

ADDRESSES: You may submit comments, identified by the title of the 
information collection, OMB Control Number (see below), and docket 
number (see above), by any of the following methods:
     Electronic: http://www.regulations.gov. Follow the 
instructions for submitting comments.
     Mail: Consumer Financial Protection Bureau (Attention: PRA 
Office), 1700 G Street NW., Washington, DC 20552.
     Hand Delivery/Courier: Consumer Financial Protection 
Bureau (Attention: PRA Office), 1275 First Street NE., Washington, DC 
20002.
    Please note that comments submitted after the comment period will 
not be accepted. In general, all comments received will become public 
records, including any personal information provided. Sensitive 
personal information, such as account numbers or Social Security 
numbers, should not be included.

FOR FURTHER INFORMATION CONTACT: Documentation prepared in support of 
this information collection request is available at 
www.regulations.gov. Requests for additional information should be 
directed to the Consumer Financial Protection Bureau, (Attention: PRA 
Office), 1700 G Street NW., Washington, DC 20552, (202) 435-9575, or 
email: [email protected]. Please do not submit comments to this 
mailbox.

SUPPLEMENTARY INFORMATION: 
    Title of Collection: Truth In Lending Act (Regulation Z)--
Appraisals for Higher-Priced Mortgage Loans.''
    OMB Control Number: 3170-0026.
    Type of Review: Extension without change of a currently approved 
information collection.
    Affected Public: Private sector (depository institutions, credit 
unions and non-depository financial institutions).
    Estimated Number of Respondents: 2,047.
    Estimated Total Annual Burden Hours: 516.
    Abstract: The Truth in Lending Act (TILA) to requires creditors 
originating mortgages with an annual percentage rate that exceeds the 
average prime offer rate by a specified percentage (higher-risk 
mortgage loans) to obtain an appraisal or appraisals meeting certain 
specified standards, provide applicants with a notification regarding 
the use of appraisals, and give applicants a copy of written appraisals 
used. These changes were enacted as part of the Dodd-Frank Wall Street 
Reform and Consumer Protection Act (Dodd-Frank Act), Public Law 111-
203, 1471, 124 Stat. 1376, 2185 (2010). Section 1471 of the Dodd-Frank 
Act adds a new section to TILA, section 129H, addressing appraisal 
requirements for higher-risk mortgage loans.
    Request for Comments: Comments are invited on: (a) Whether the 
collection of information is necessary for the proper performance of 
the functions of the Bureau, including whether the information will 
have practical utility; (b) The accuracy of the Bureau's estimate of 
the burden of the collection of information, including the validity of 
the methods and the assumptions used; (c) Ways to enhance the quality, 
utility, and clarity of the information to be collected; and (d) Ways 
to minimize the burden of the collection of information on respondents, 
including through the use of automated collection techniques or other 
forms of information technology. Comments submitted in response to this 
notice will be summarized and/or included in the request for OMB 
approval. All comments will become a matter of public record.

    Dated: November 1, 2016.
Darrin A. King,
Paperwork Reduction Act Officer, Bureau of Consumer Financial 
Protection.
[FR Doc. 2016-26678 Filed 11-3-16; 8:45 am]
 BILLING CODE 4810-AM-P