[Federal Register Volume 71, Number 201 (Wednesday, October 18, 2006)]
[Notices]
[Pages 61494-61496]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: E6-17288]


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DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT

[Docket No. FR-5040-N-02]


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: December 18, 2006.

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: Lillian Deitzer, QDAM, 
Information Reports Management Officer, Department of Housing and Urban 
Development, 451 7th Street, SW., L'Enfant Plaza Building, Room 800a, 
Washington, DC 20410; fax--(202) 708-3135; e-mail--Lillian--L.--
[email protected]; telephone--(202) 708-2374 (this is not a toll-free 
number).

FOR FURTHER INFORMATION CONTACT: Debra Murphy, Ginnie Mae, 451 7th 
Street, SW., Room B-133, Washington, DC 20410; e-mail--Debra--L.--
[email protected]; 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--
[email protected]; telephone--(202) 475-6752; 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 reflects the change in burden hours due to Ginnie Mae 
consolidating its data collection process for program participants and 
due to an increase in data reporting requirements as it relates to 
Ginnie Mae's proposed Home Equity Conversion Mortgages security.
    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''). 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 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, 11712, 11712-II, 11714, 11714-SN, 
11715, 11717, 11717-II, 11720, 1724, 11728, 11728-II, 1731, 11732, 
1734, 11747, 11747-II, 11748-A, 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:

[[Page 61495]]



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                                                                                           Frequency of
              Form                   Appendix No.            Title            No. of       responses per   Total annual      Hours per     Total annual
                                                                            respondents        year          responses       response          hours
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11700...........................  II-1..............  Letter of                      160               4             640           0.033              21
                                                       Transmittal.
11701...........................  I-1...............  Application for                 16               1              16           1.000              16
                                                       Approval FHA
                                                       Lender and/or
                                                       Ginnie Mae
                                                       Mortgage-Backed
                                                       Securities Issuer.
11702...........................  I-2...............  Resolution of                  250               1             250           0.080              20
                                                       Board of
                                                       Directors and
                                                       Certificate of
                                                       Authorized
                                                       Signatures.
11704...........................  II-2..............  Commitment to                  160               4             640           0.033              21
                                                       Guaranty Mortgage-
                                                       Backed Securities.
11705...........................  III-6.............  Schedule of                    250               1           2,012           0.005              10
                                                       Subscribers and
                                                       Ginnie Mae
                                                       Guaranty
                                                       Agreement.
11706...........................  III-7.............  Schedule of Pooled             250               1           2,012          0.0075              15
                                                       Mortgages.
11707...........................  III-1.............  Master Servicing               250               1             250           0.016               4
                                                       Agreement.
11708...........................  V-5...............  Document Release               250              34           8,500           0.050             425
                                                       Request.
11709...........................  III-2.............  Master Agreement               250               1             250           0.033               8
                                                       for Servicer's
                                                       Principal and
                                                       Interest
                                                       Custodial Account.
11709-A.........................  I-6...............  ACH Debit                      250               1             250           0.033               8
                                                       Authorization.
11710A, 1710B, 1710C & 11710E...  VI-12.............  Issuer's Monthly                95               1              95           0.500              48
                                                       Accounting Report
                                                       and Liquidation
                                                       Schedule.
11710 D.........................  VI-5..............  Issuer's Monthly                95               1              95           0.250              24
                                                       Summary Reports.
11711A and 11711B...............  III-5.............  Release of                     250              12           24144           0.005             121
                                                       Security Interest
                                                       and Certification
                                                       and Agreement.
11712, 11712-II, 11717, 11717-    IV-6, IV-23, V-4,   Ginnie Mae I and               250              12          24,144           0.133           3,211
 II, 1724, 11728, 11728-II,        IV-20, IV-8, IV-    II Prospectus
 1731, 1734, 11747, 11747-II,      24, IV-5, IV-22,    Forms.
 and 11772-II.                     IV-21, IV-9, IV-
                                   10, IV-7.
11714 and 11714SN...............  VI-10, VI-11......  Issuer's Monthly               250             379          94,750           0.016           1,516
                                                       Remittance Advice
                                                       and Issuer's
                                                       Monthly Serial
                                                       Note Remittance
                                                       Advice.
11715...........................  III-4.............  Master Custodial               250               1             250           0.033               8
                                                       Agreement.
11720...........................  III-3.............  Master Agreement               250               1             250           0.033               8
                                                       for Servicer's
                                                       Escrow Custodial
                                                       Account.
11732...........................  III-22............  Custodian's                     75               1              75           0.016               1
                                                       Certification for
                                                       Construction
                                                       Securities.
11748 A.........................  VI-6..............  Graduated Payment               46               8             368           0.016               6
                                                       Mortgage or
                                                       Growing Equity
                                                       Mortgage Pool or
                                                       Loan Package
                                                       Composition.
                                  IX-1..............  Financial                      250               1             250           1.000             250
                                                       Statements and
                                                       Audit Reports.
                                                      Mortgage Bankers               245               4             980           0.500             490
                                                       Financial
                                                       Reporting Form.

[[Page 61496]]

 
                                  XI-6, XI-8, XI-9..  Soldiers' and                   68           1,245          84,660           0.033           2,794
                                                       Sailors'
                                                       Quarterly
                                                       Reimbursement
                                                       Request and SSCRA
                                                       Loan Eligibility
                                                       Information.
                                  VI-2..............  Letter for Loan                250              12           2,376           0.030              71
                                                       Repurchase.
                                  III-21............  Certification                   75               1              75           0.050               4
                                                       Requirements for
                                                       the Pooling of
                                                       Multifamily
                                                       Mature Loan
                                                       Program.
                                  VI-9..............  Request for                     20               1              68           0.250              17
                                                       Reimbursement of
                                                       Mortgage
                                                       Insurance Claim
                                                       Costs for
                                                       Multifamily Loans.
                                  VII-1.............  Collection of                  250              12       7,328,856           0.004          29,315
                                                       Remaining
                                                       Principal
                                                       Balances.
                                                      Data Verification              250               2             500           0.050              25
                                                       Form.
                                  III-9.............  Authorization to                41              12             492           0.016               8
                                                       Accept Facsimile
                                                       Signed Correction
                                                       Request Forms.
                                  III-13............  Electronic Data                250               1             250           0.166              42
                                                       Interchange
                                                       System Agreement.
                                  III-14............  Enrollment                     250               1             250           0.100              25
                                                       Administrator
                                                       Signatories for
                                                       Issuers and
                                                       Document
                                                       Custodians.
                                                      Corporate Guaranty              34               1              34           0.050               2
                                                       Agreement.
                                  I-4...............  Cross Default                   71               1              71           0.050               4
                                                       Agreement.
                                  VIII-2............  Transfer                        10               1              10           0.080               1
                                                       Agreements.
                                  VIII-3............  Assignment                      79               1              10           0.130               1
                                                       Agreements.
                                  VIII-1............  Acknowledgement                 10               1              10           0.083               1
                                                       Agreement and
                                                       Accompanying
                                                       Documents--Pledge
                                                       of Servicing.
                                  XI-2..............  Supervisory                     10               1              10           0.080               1
                                                       Agreement.
                                                      Ginnie Mae                     250              12           3,000           4.304          12,912
                                                       Reporting and
                                                       Feedback Data
                                                       Collection.
    Total.......................  ..................  ..................             250          Varies       7,577,804          Varies          38,541
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    Authority: Section 3506 of the Paperwork Reduction Act of 1995, 
44 U.S.C. Chapter 35, as amended.

    Dated: October 11, 2006.
Michael J. Frenz,
Executive Vice President, Government National Mortgage Association.
[FR Doc. E6-17288 Filed 10-17-06; 8:45 am]
BILLING CODE 4210-67-P