June 17 -- The Office of the Comptroller of the Currency (OCC), Treasury, invites comments to OMB by July 18, 2022 regarding the collection of Domestic First Lien Residential Mortgage Data.
Section 104(a) of the Helping Families Save Their Homes Act of 2009 (12 U.S.C. 1715z-25(a)) (Act), as amended by section 1493(a) of the Dodd-Frank Wall Street Reform and Consumer Protection Act, requires the OCC to submit a quarterly report to Congress on mortgage modification activity in the Federal banking system. Section 104(b) of the Act (12 U.S.C. 1715z-25(b)) requires the OCC to collect mortgage modification data from national banks and Federal savings associations and provides for the collection of all data necessary to fulfill the reporting requirements of section 104(a). Those requirements include information on the number of mortgage modifications in each state that have certain characteristics such as changes to the principal amount of a loan or changes to a homeowner's total monthly principal and interest payment.
The OCC currently collects aggregate data on first-lien residential mortgage loans serviced by seven national banks with large mortgage-servicing portfolios. The required aggregate data are industry standard measures of portfolio performance, including: (1) outstanding loan count and unpaid principal balance; (2) delinquency and liquidation ratios; and (3) the number of loss mitigation actions completed.
OCC Mortgage Metrics Reports:
https://www.occ.gov/publications-and-resources/publications/mortgage-metrics-reports/index-mortgage-metrics-reports.html
OCC submission to OMB:
https://www.reginfo.gov/public/do/PRAViewICR?ref_nbr=202205-1557-014 Click IC List for data collection instruments, View Supporting Statement for technical documentation. Submit comments through this webpage.
FR notice inviting comments to OMB:
https://www.federalregister.gov/d/2022-13090
For AEA members wishing to submit comments, "A Primer on How to Respond to Calls for Comment on Federal Data Collections" is available at
https://www.aeaweb.org/content/file?id=5806
