[Federal Register Volume 67, Number 132 (Wednesday, July 10, 2002)]
[Notices]
[Pages 45753-45754]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 02-17219]


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DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT

[Docket No. FR-4740-N-05]


Notice of Proposed Information Collection: Comment Request; 
Request for Release of Documents: ACH Debit Authorization; Master 
Agreements for Servicer's P&I Custodial Account; and Servicer's Escrow 
Account and Custodial Account

AGENCY: Office of 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: Comment Due Date: September 9, 2002.

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 Program 
Operations, Department of Housing & Urban Development, 451-7th Street, 
SW., Room 6206, Washington, DC 20410.

FOR FURTHER INFORMATION CONTACT: Sonya Suarez, Ginnie Mae, (202) 708-
2884 (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 
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 submitted submission of responses.
    This Notice also lists the following information:
    Title of Proposal: (1) Request for Release of Documents; (2) ACH 
Debit Authorization; (3) Master Agreements for Servicer's P&I Custodial 
Account; and (4) Servicer's Escrow Account and Custodial Account.
    OMB Control Number, if applicable: 2503-0017.

Description of the Need for the Information and Proposed Use

    Form 11708 provides issuers access to the documents held by the 
document custodian. Forms 11709 and 11720 provide evidence to Ginnie 
Mae that the issuer has executed an agreement with

[[Page 45754]]

a financial institution to maintain the principal, interest, and escrow 
funds used to pay securities holders. Form 11709-A authorizes Ginnie 
Mae's Central Paying and Transfer Agent (CPTA) and the Ginnie Mae 
Depository to make Automated Clearing House (ACH) debits against an 
issuer's central principal and interest account at the bank referenced 
on the form. The CPTA is authorized to initiate ACH debits against the 
issuer's central principal and interest custodial account at the bank 
referenced on the form for monthly guaranty fees due in connection with 
all Ginnie Mae I pools and loan packages, and for monthly P&I payment 
and guaranty fees due in connection with all Ginnie Mae II pools and 
loan packages. The Ginnie Mae Depository is authorized to initiate ACH 
debits against the central P&I custodial account at the bank referenced 
on the form for monthly P&I payments and prepayment penalties on 
multifamily loans due in connection with all book-entry securities 
backed by Ginnie Mae I pools. Form 11715 provides the name of the 
document custodian institution holding the issuer's documents on behalf 
of Ginnie Mae.
    Agency form numbers, if applicable: HUD Form 11708, 11709, 11709-A, 
11715, and 11720.
    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

    Estimates of the hour burden of collecting information for the 
forms area as follows:

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                                     Number of     Frequency of      Total of        Hrs. per
            HUD forms               respondents      responses       responses       response       Total hours
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17708...........................        2,966.47               1        2,966.47             .2           593.29
11709...........................          297                  1          297                .03            8.91
11709-A.........................          297                  1          297                .25           74.25
11715...........................          297                  1          297                .25           74.25
11720...........................          297                  1          297                .2            59.4
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    Annual Total................        4,154.47               5        4,154.47             .93          810.10
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    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: June 27, 2002.
George S. Anderson,
Executive Vice President, Ginnie Mae.
[FR Doc. 02-17219 Filed 7-9-02; 8:45 am]
BILLING CODE 4210-66-M