[Federal Register Volume 63, Number 174 (Wednesday, September 9, 1998)]
[Notices]
[Page 48237]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 98-24081]


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DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT

[Docket No. ER-4375-N-02]


Notice of Proposed Information Collection: Comment Request

AGENCY: Office of the President of Government National Mortgage 
Association ( Ginnie Mae), HUD.

ACTION: Notice.

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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: November 9, 1998.

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 Suarez, Office of Policy, 
Planning and Risk Management, Department of Housing & Urban 
Development, 451--7th Street, SW, Room 6226, Washington, DC 20410.

FOR FURTHER INFORMATION CONTACT:
Sonya Suarez, Ginnie Mae, (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 comment 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 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: (1) Letter of Transmittal, (2) Resolution of 
Board of Directors and Certificate of Authorized Signatures, and (3) 
Master Servicing Agreement.
    OMB Control Number, if applicable: 2503-0016.
    Description of the need for the information and proposed use: The 
purpose of the Letter of Transmittal is to provide issuers with a form 
to transmit documentation to Ginnie Mae when requesting Ginnie Mae's 
action on certain activities such as requests for commitment authority/
pool number and Ginnie I or II approval. The Resolution of Board of 
Directors and Certificate of Authorized Signatures is used by the 
issuers to provide a list of the names and signatures of officers of 
the company authorizing the issuance of securities. The Master 
Servicing Agreement is used to provide assurance to Ginnie May that the 
servicing of the mortgages backing the securities approved for issuance 
will be performed in accordance with acceptable standards of mortgage 
servicing. It is also used to determine whether the issuer of the pool 
is the sole servicer or whether the issuer has established a sub-
contract servicer arrangement with another institution to perform 
certain servicing functions on behalf of the issuer.
    Agency form numbers, if applicable: HUD forms 11700, 11702, and 
11707.
    Members of affected public: For profit business (mortgage 
companies, thrifts, savings & loans, etc.).
    Estimation of the total number of hours needed to prepare the 
information collection including number of respondents, frequency of 
response, and hours of response:

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                                                                   Frequency of    Total annual      Hours of   
                                                    Respondents      response        responses       response*  
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HUD form 11700..................................             399               4           1,596             271
HUD form 11702..................................             399               1             399              69
HUD form 11707..................................             399              59          23,541           4,002
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    Total hours of response.....................  ..............  ..............  ..............           4,340
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* Total Annual Responses  x  .17 (10 minutes).                                                                  

    Status of the proposed information collection: Extension of a 
currently approved collection.

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

    Dated: August 26, 1998.
George S. Anderson,
Executive Vice President, Ginnie Mae.
[FR Doc. 98-24081 Filed 9-8-98; 8:45 am]
BILLING CODE 4210-01-M