[Federal Register Volume 62, Number 114 (Friday, June 13, 1997)]
[Notices]
[Pages 32361-32362]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 97-15509]


-----------------------------------------------------------------------

DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT

[Docket No. FR-4200-N-67]


Notice of Proposed Information Collection for Public Comment

AGENCY: Government National Mortgage Association, 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: Comments due: August 12, 1997.

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: Sonya K. Suarez, Government 
National Mortgage Association, Office of Policy, Program and Risk 
Management, Department of Housing & Urban Development, 451--7th Street, 
SW., Room 6226, Washington, DC 20410.

FOR FURTHER INFORMATION CONTACT:
Sonya K. Suarez, on (202) 708-2772 (this is not a toll-free number) for 
copies of the proposed forms and other available documents.

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).
    The Notice is soliciting comments from members of the public and 
affecting agencies concerning the proposed collection of information 
to: (1) Evaluate whether the proposed collection of information is 
necessary for the proper performance of functions of the agency, 
including whether the information will have practical utility; (2) 
Evaluate the accuracy of the agency's estimate of the burden 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 Issuer Eligibility and Integrity 
Reforms.
    OMB Control Number: 2503-0027.

[[Page 32362]]

    Description of the need for the information and proposed use: The 
collection of information enables Ginnie Mae to hold issuers to higher 
eligibility standards and integrity standards. As guarantor of over 
$500 billion of outstanding mortgage-backed securities, it is Ginnie 
Mae's responsibility to have the proper risk management requirements in 
place to adequately protect the Government's interest. The collection 
of information will enable Ginnie Mae to better assess the capability 
of each issuer to fulfill its responsibility as a Ginnie Mae issuer.
    Agency form numbers: not applicable.
    Members of affected public: Business or other for-profit and the 
Federal Government.
    Estimation of the total number of hours needed to prepare the 
information collection including number of respondents, frequency of 
response, and hours of response:
    Reporting Burden:

----------------------------------------------------------------------------------------------------------------
                                                                 No. of      Hours of                   Total   
                         Description                          respondents    response   Total hours  annual cost
----------------------------------------------------------------------------------------------------------------
Cross Default Agreement.....................................           10            1           10         $220
Personnel Disclosure........................................           81            1           81        1,782
Classified Balance Sheet....................................          620            8        4,960      109,120
Changes in Issuer Control...................................           31            1           31          682
Changes in Issuer Status....................................           31            1           31          682
                                                             ---------------------------------------------------
      Total Hours & Cost....................................  ...........  ...........        5,113      112,486
----------------------------------------------------------------------------------------------------------------
* responses per respondent = 1.                                                                                 
* wage rate = $22/hour.                                                                                         

    Total Estimated Burden Hours: 5,113.
    Status: Reinstatement, with change, of previously approved 
collection for which approval has expired.

    Authority: Section 3506 of the Paperwork Reduction Act of 1995, 
44 U.S.C. Chapter 35, as amended.

    Dated: May 28, 1997.
George S. Anderson,
Executive Vice President, Government National Mortgage Association.
[FR Doc. 97-15509 Filed 6-12-97; 8:45 am]
BILLING CODE 4210-01-M