[Federal Register Volume 70, Number 109 (Wednesday, June 8, 2005)]
[Notices]
[Pages 33519-33522]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 05-11310]


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DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT

[Docket No. FR-4974-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.

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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 Date: August 8, 2005.

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:
    Wayne Eddins, AYO, Reports Management Officer, Department of 
Housing and Urban Development, 451 7th Street SW., L'Enfant Plaza 
Bldg., Rm. 800a, Washington, DC 20410; fax: 202-708-3135; e-mail 
[email protected].

FOR FURTHER INFORMATION CONTACT: Debra Murphy, Ginnie Mae, 451 7th 
Street, SW., Room B-133, Washington, DC 20410; e-mail: [email protected]; telephone (202) 475-4923; fax: 202-485-0225 (this is 
not a toll-free number) or the Ginnie Mae Web site at http://www.ginniemae.gov for copies of the proposed forms and 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 
affecting 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,

[[Page 33520]]

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 technolgy, 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''). Participants in the Ginnie Mae I program issue 
securities backed by single-family or multifamily loans. Participants 
in the Ginnie Mae II program issue securities backed by single-family 
loans. The Ginnie Mae II MBS are modified pass-through MBS on which 
registered holders receive an aggregate principal and interest payment 
from a central paying agent on all of their Ginnie Mae II MBS. The 
Ginnie Mae II MBS also allow small issuers who do not meet the minimum 
dollar pool requirements of the Ginnie Mae I MBS to participate in the 
secondary mortgage market. In addition, the Ginnie Mae II MBS permit 
the securitization of adjustable rate mortgages (``ARMs''). Included in 
the Guide are forms and documents used to collect information from the 
public, in order 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, 11710-A, 1710-B, 1710-C, 
11710-D, 11710-E, 11711-A, 11711-B, 11712, 11712-II, 11714, 11714-SN, 
11715, 11717, 11717-II, 11720, 1724, 11728, 11728-II, 1731, 11732, 
1734, 11747, 11747-II, 11748-A, 11748-C, 11772-II.

 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
            Form                 Appendix No.              Title             Number of     responses per   Total annual      Hours per     Total annual
                                                                            respondents        year          responses       response          hours
--------------------------------------------------------------------------------------------------------------------------------------------------------
11700......................  II-1................  Letter of Transmittal             160               4             640          0.17            109
11701......................  I-1.................  Application for                    16               1              16          1.50             24
                                                    Approval FHA Lender
                                                    and/or Ginnie Mae
                                                    Mortgage-Backed
                                                    Securities Issuer.
11702......................  I-2.................  Resolution of Board               271               1             271          0.17             46
                                                    of Directors and
                                                    Certificate of
                                                    Authorized
                                                    Signatures.
11704......................  II-2................  Commitment to                     160               4             640          0.25            160
                                                    Guaranty Mortgage-
                                                    Backed Securities.
11705......................  III-6...............  Schedule of                       271              12          24,144          0.0166          401
                                                    Subscribers and
                                                    Ginnie Mae Guaranty
                                                    Agreement.
11706......................  III-7...............  Schedule of Pooled                271              12          24,144          0.0166          401
                                                    Mortgages.
11707......................  III-1...............  Master Servicing                  271               1             271          0.17             46
                                                    Agreement.
11708......................  V-5.................  Document Release                  271              10           2,710          0.2           1,843
                                                    Request.
11709......................  III-2...............  Master Agreement for              271               1             271          0.03              8
                                                    Servicer's Principal
                                                    and Interest
                                                    Custodial Account.
11709-A....................  I-6.................  ACH Debit                         271               1             271          0.25             68
                                                    Authorization.
11710A, 1710B, 1710C and     VI-4, VI-12, VI-13..  Issuer's Monthly                  271              12       4,728,000          0.0166       78,485
 11710E.                                            Accounting Report
                                                    and Liquidation
                                                    Schedule.
11710D.....................  VI-5................  Issuer's Monthly                  271              12           4,920          0.0166           81.67
                                                    Summary Reports.
1171A and 11711B...........  III-5...............  Release of Security               271              12          24,144          0.0166          400.79
                                                    Interest and
                                                    Certification and
                                                    Agreement.

[[Page 33521]]

 
11712, 11712-II, 11717,      IV-6, IV-23, IV-4,    Ginnie Mae I, and II              271              12          24,144          0.0166          401
 11717-II, 1724, 11728,       IV-20, IV-8, IV-24,   Prospectus Forms.
 11728-II, 1724, 11728,       IV-5, IV-22, IV-21,
 11728-II, 1731, 1734,        IV-9, IV-10, IV-7.
 11747, 11747-II and 11772-
 II.
11714 and 11714SN..........  VI-10, VI-11........  Issuer's Monthly                  271             398         107,858          0.0166        1,790.44
                                                    Remittance Advice
                                                    and Issuer's Monthly
                                                    Serial Note
                                                    Remittance Advice.
11715......................  III-4...............  Master Custodial                  271               1             271          0.25             67.75
                                                    Agreement.
11720......................  III-3...............  Master Agreement for              271               1             271          0.25             67.75
                                                    Servicer's Escrow
                                                    Custodial Account.
11732......................  III-22..............  Custodian's                        75               1              75          0.0166            1.25
                                                    Certification for
                                                    Construction
                                                    Securities.
11749 A and 11748 C........  VI-6, VI-16.........  Addendum to Monthly               196               8           1,568          0.0166           26.03
                                                    Accounting Report--
                                                    Adjustable Rate
                                                    Mortgage Loan
                                                    Package.
                                                   Monthly Loan Level                271              12           3,252          4            13,008
                                                    Reporting.
                             IX-1................  Financial Statements              271               1             271          1               271
                                                    and Audit Reports.
                                                   Mortgage Bankers                  245               4             980          0.50            490
                                                    Financial Reporting
                                                    Form.
                             XI-6, XI-8, XI-9....  Soldiers' and                      68           1,245          84,660          0.034         2,878.44
                                                    Sailors' Quarterly
                                                    Reimbursement
                                                    Request and SSCRA
                                                    Loan Eligibility
                                                    Information.
                             VI-2................  Form Letter for Loan              271              12           2,376          0.25            594.00
                                                    Repurchase.
                             III-21..............  Certification                      75               1              75          0.0166            1.25
                                                    Requirements for the
                                                    Pooling of
                                                    Multifamily Mature
                                                    Loan Program.
                             VI-9................  Request for                        20               1              68          0.25             17
                                                    Reimbursement of
                                                    Mortgage Insurance
                                                    Claim Costs for
                                                    Multifamily Loans.
                             VII-1...............  Collection of                     271              12           3,252          0.001         7,329
                                                    Remaining Principal
                                                    Balances.
                                                   Data Verification                 271               2             542          0.08             43
                                                    Form.
                             III-9...............  Ginnie Mae Pool                    41              12             492          0.0166            8.17
                                                    Issuance Correction
                                                    Request Form.
                             III-13..............  Electronic Data                   271               1             271          0.25             67.75
                                                    Interchange System
                                                    Agreement.
                             III-14..............  Enrollment                        271               1             271          0.25             67.75
                                                    Administrator
                                                    Signatories for
                                                    Issuers and Document
                                                    Custodians.

[[Page 33522]]

 
                                                   Corporate Guaranty                 34               1              34          0.25              8.50
                                                    Agreement.
                             I-4.................  Cross Default                      71               1              71          0.25             17.75
                                                    Agreement.
                             VIII-2, VIII-3......  Transfer Agreements                79               1              79          0.25             19.75
                                                    and Assignment
                                                    Agreements.
                             VIII-2, VIII-3......  Transfer Agreements                79               1              79          0.25             19.75
                                                    and Assignment
                                                    Agreements.
                             VIII-1..............  Acknowledgement                    10               1              10          1.00             10
                                                    Agreement and
                                                    Accompanying
                                                    Documents--Pledge of
                                                    Servicing.
                             XI-2................  Supervisory Agreement              10               1              10          1                10
                            -----------------------
      Total................  ....................  .....................             193  ..............       5,041,343  ..............      100,642
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Calculations

    Total Annual Responses x Hours per Response = Total Annual Hours 
Estimated Cost to Respondents:
    1. Mortgage industry employee salary: $25.00 per hour $25.00 x 
total Annual Hours = Cost Estimated Annual Cost to Government:
    2. Ginnie Mae employee salary: $29.00 per hour $29.00 x Total 
Annual Hours = Cost.
    3. Contractor expense is based on contract with Ginnie Mae.
    Status of the proposed information collection: Extension/
Modification of a currently approved collection.

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

    Dated: May 27, 2005.
Michael J. Frenz,
Executive Vice President, Government National Mortgage Association.
[FR Doc. 05-11310 Filed 6-7-05; 8:45 am]
BILLING CODE 4210-66-M