Notice of Proposed Information Collection: Comment Request; Ginnie Mae Mortgage-Backed Securities Guide 5500.3, Revision 1; (Forms and Electronic Data Submissions), 31624-31625 [2011-13595]
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[Federal Register Volume 76, Number 105 (Wednesday, June 1, 2011)] [Notices] [Pages 31624-31625] From the Federal Register Online via the Government Printing Office [www.gpo.gov] [FR Doc No: 2011-13595] [[Page 31624]] ----------------------------------------------------------------------- DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT [Docket No. FR-5483-N-01] Notice of Proposed Information Collection: Comment Request; Ginnie Mae Mortgage-Backed Securities Guide 5500.3, Revision 1; (Forms and Electronic Data Submissions) AGENCY: Office of the President of Government National Mortgage Association (Ginnie Mae), HUD. ACTION: Notice. ----------------------------------------------------------------------- SUMMARY: The proposed information collection requirement described below will be submitted to the Office of Management and Budget (OMB) for review, as required by the Paperwork Reduction Act. The Department is soliciting public comments on the subject proposal. DATES: Comment Due Date: August 1, 2011. ADDRESSES: Interested persons are invited to submit comments regarding this proposal. Comments should refer to the proposal by name and/or OMB Control Number and should be sent to: Colette Pollard, Q, Administrator Support Specialist, Department of Housing and Urban Development, 451 7th Street, SW., Room 4160, Washington, DC 20410; e-mail Colette.Pollard@hud.gov; telephone (202) 708-0306, ext. 3400. This is not a toll-free number. Copies of available documents submitted to OMB may be obtained from Ms. Pollard. FOR FURTHER INFORMATION CONTACT: Debra Murphy, Ginnie Mae, 451 7th Street, SW, Room B-133, Washington, DC 20410; e-mail_ Debra.L.Murphy@hud.gov; telephone--(202) 475-4923; fax--(202) 485-0225 (this is not a toll-free number); Victoria Vargas, Ginnie Mae, 451 7th Street, SW., Room B-133, Washington, DC 20410; e-mail_ Victoria.Vargas@hud.gov; telephone--(202) 475-6752; fax--(202) 485-0225 (this is not a toll-free number); or the Ginnie Mae Web site at https://www.ginniemae.gov for other available information. SUPPLEMENTARY INFORMATION: The Department will submit the proposed information collection to OMB for review, as required by the Paperwork Reduction Act of 1995 (44 U.S.C. Chapter 35, as amended). This Notice is soliciting comments from members of the public and affected agencies concerning the proposed collection of information to: (1) Evaluate whether the proposed collection of information is necessary for the proper performance of the functions of the agency, including whether the information will have practical utility; (2) Evaluate the accuracy of the agency's estimate of the burden hours of the proposed collection of information; (3) Enhance the quality, utility, and clarity of the information to be collected; and (4) Minimize the burden of the collection of information on those who are to respond, including through the use of appropriate automated collection techniques or other forms of information technology, e.g., permitting electronic submission of responses. This Notice also lists the following information: Title of Proposal: Ginnie Mae Mortgage-Backed Securities Guide 5500.3, Revision 1 (Forms and Electronic Data Submissions). OMB Control Number, if applicable: 2503-0033. Description of the need for the information and proposed use: Ginnie Mae's Mortgage-Backed Securities Guide 5500.3, Revision 1 (``Guide'') provides instructions and guidance to participants in the Ginnie Mae Mortgage-Backed Securities (``MBS'') programs (``Ginnie Mae I and Ginnie Mae II''). Under the Ginnie Mae I program, securities are backed by single-family or multifamily loans. Under the Ginnie Mae II program securities are only backed by single-family loans. Both the Ginnie Mae I and II MBS are modified pass-through securities. The Ginnie Mae II multiple Issuer MBS is structured so that small issuers, who do not meet the minimum number of loans and dollar amount requirements of the Ginnie Mae I MBS, can participate in the secondary mortgage market. In addition, the Ginnie Mae II MBS permits the securitization of adjustable rate mortgages (``ARMs''). In order to provide more relevant disclosure information on outstanding Ginnie Mae securities, Ginnie Mae will be collecting additional information on the loans backing securities at issuance. Included in the Guide are the appendices, forms, and documents necessary for Ginnie Mae to properly administer its MBS programs. Agency form numbers, if applicable: 11700, 11701, 11702, 11704, 11705, 11706, 11707, 11708, 11709, 11709-A, 11710A, 1710-B, 1710-C, 11710D, 11710E, 11711-A, 11711-B, 11714, 11714-SN, 11720, 11715, 11732, 11785. While most of the calculations are based on number of respondents multiplied by the frequency of response, there are several items whose calculations are based on volume. -------------------------------------------------------------------------------------------------------------------------------------------------------- Frequency of Total Total Form Appendix No. Title Number of responses per annual Hours per annual respondents year responses response hours -------------------------------------------------------------------------------------------------------------------------------------------------------- 11700............................. II-1..................... Letter of 210 4 840 0.033 27.7 Transmittal. 11701............................. I-1...................... Application for 100 1 100 1 100.0 Approval Ginnie Mae Mortgage-Backed Securities Issuer. 11702............................. I-2...................... Resolution of Board 210 1 210 0.08 16.8 of Directors and Certificate of Authorized Signatures. 11704............................. II-2..................... Commitment to 210 4 840 0.033 27.7 Guaranty Mortgage- Backed Securities. 11707............................. III-1.................... Master Servicing 210 1 210 0.016 3.4 Agreement. 11709............................. III-2.................... Master Agreement for 210 1 210 0.033 6.9 Servicer's Principal and Interest Custodial Account. 11715............................. III-4.................... Master Custodial 210 1 210 0.033 6.9 Agreement. 11720............................. III-3.................... Master Agreement for 210 1 210 0.033 6.9 Servicer's Escrow Custodial Account. 11732............................. III-22................... Custodian's 144 1 144 0.016 2.3 Certification for Construction Securities. [[Page 31625]] IX-1..................... Financial Statements 210 1 210 1 210.0 and Audit Reports. Mortgage Bankers 350 4 1400 0.5 700.0 Financial Reporting Form. 11709-A........................... I-6...................... ACH Debit 210 1 210 0.033 6.9 Authorization. 11710 D........................... VI-5..................... Issuer's Monthly 210 12 2520 0.033 83.2 Summary Reports. 11710A, 1710B, 1710C &11710E...... VI-12.................... Issuer's Monthly 110 1 110 0.5 55.0 Accounting Report and Liquidation Schedule. Data Verification 210 2 420 0.05 21.0 Form. III-13................... Electronic Data 40 1 40 0.166 6.6 Interchange System Agreement. III-14................... Enrollment 54 1 54 2 108.0 Administrator Signatories for Issuers and Document Custodians. I-4...................... Cross Default 10 1 10 0.05 0.5 Agreement. VI-18.................... WHFIT Reporting..... 210 4 840 0.25 210.0 VI-19.................... Monthly Pool and 210 12 2520 4.3 10836.0 Loan Level Report (RFS). -------------------------------------------------------------------------------------------------------------------------------------------------------- The burden for the items listed below is based on volume and/or number of requests. -------------------------------------------------------------------------------------------------------------------------------------------------------- 11705............................. III-6.................... Schedule of 210 12 24800 0.0075 186.0 Subscribers and Ginnie Mae Guaranty Agreement. 11706............................. III-7.................... Schedule of Pooled 210 12 24800 0.0075 186.0 Mortgages. 11708............................. V-5...................... Document Release 210 1 374 0.05 18.7 Request. XI-6, XI-8, XI-9......... Soldiers' and 32 4 8000 0.033 1056.0 Sailors' Quarterly Reimbursement Request and SSCRA Loan Eligibility Information. 11711A and 11711B................. III-5.................... Release of Security 210 1 24800 0.005 124.0 Interest and Certification and Agreement. 11714 and 11714SN................. VI-10, VI-11............. Issuer's Monthly 210 12 56500 0.016 10848.0 Remittance Advice and Issuer's Monthly Serial Note Remittance Advice. VI-2..................... Letter for Loan 210 12 420 0.033 13.9 Repurchase. VII-1.................... Collection of 210 12 344000 0.0125 51600.0 Remaining Principal Balances. III-21................... Certification 11 1 11 0.05 0.6 Requirements for the Pooling of Multifamily Mature Loan Program. VI-9..................... Request for 56 1 56 0.25 14.0 Reimbursement of Mortgage Insurance Claim Costs for Multifamily Loans. VIII-3................... Assignment 63 1 63 0.13 8.2 Agreements. III-9.................... Authorization to 210 12 128 0.016 2.0 Accept Facsimile Signed Correction Request Forms. --------------------------------------------------------------------------------------------------------------------- Total......................... ......................... .................... .............. Varies 495,260 Varies 76,493 -------------------------------------------------------------------------------------------------------------------------------------------------------- Authority: Section 3506 of the Paperwork Reduction Act of 1995, 44 U.S.C. Chapter 35, as amended. Dated: May 25, 2011. Mary K. Kinney, Executive Vice President, Government National Mortgage Association. [FR Doc. 2011-13595 Filed 5-31-11; 8:45 am] BILLING CODE 4210-67-P
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