[Federal Register Volume 76, Number 105 (Wednesday, June 1, 2011)]
[Notices]
[Pages 31624-31625]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2011-13595]



[[Page 31624]]

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DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT

[Docket No. FR-5483-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: Comment Due Date: August 1, 2011.

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: Colette Pollard, Q, Administrator 
Support Specialist, Department of Housing and Urban Development, 451 
7th Street, SW., Room 4160, Washington, DC 20410; e-mail 
[email protected]; telephone (202) 708-0306, ext. 3400. This is 
not a toll-free number. Copies of available documents submitted to OMB 
may be obtained from Ms. Pollard.

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); Victoria Vargas, Ginnie Mae, 451 7th 
Street, SW., Room B-133, Washington, DC 20410; e-mail_
[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 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 
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''). Under the Ginnie Mae I program, securities are 
backed by single-family or multifamily loans. Under the Ginnie Mae II 
program securities are only backed by single-family loans. Both the 
Ginnie Mae I and II MBS are modified pass-through securities. The 
Ginnie Mae II multiple Issuer MBS is structured so that small issuers, 
who do not meet the minimum number of loans and dollar amount 
requirements of the Ginnie Mae I MBS, can participate in the secondary 
mortgage market. In addition, the Ginnie Mae II MBS permits the 
securitization of adjustable rate mortgages (``ARMs'').
    In order to provide more relevant disclosure information on 
outstanding Ginnie Mae securities, Ginnie Mae will be collecting 
additional information on the loans backing securities at issuance.
    Included in the Guide are the 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, 11714, 11714-SN, 11720, 11715, 11732, 
11785.
    While most of the calculations are based on number of respondents 
multiplied by the frequency of response, there are several items whose 
calculations are based on volume.

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                                                                                                      Frequency of      Total                    Total
               Form                        Appendix No.                Title            Number of     responses per     annual     Hours per     annual
                                                                                       respondents        year        responses     response     hours
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11700.............................  II-1.....................  Letter of                        210               4          840        0.033       27.7
                                                                Transmittal.
11701.............................  I-1......................  Application for                  100               1          100            1      100.0
                                                                Approval Ginnie Mae
                                                                Mortgage-Backed
                                                                Securities Issuer.
11702.............................  I-2......................  Resolution of Board              210               1          210         0.08       16.8
                                                                of Directors and
                                                                Certificate of
                                                                Authorized
                                                                Signatures.
11704.............................  II-2.....................  Commitment to                    210               4          840        0.033       27.7
                                                                Guaranty Mortgage-
                                                                Backed Securities.
11707.............................  III-1....................  Master Servicing                 210               1          210        0.016        3.4
                                                                Agreement.
11709.............................  III-2....................  Master Agreement for             210               1          210        0.033        6.9
                                                                Servicer's
                                                                Principal and
                                                                Interest Custodial
                                                                Account.
11715.............................  III-4....................  Master Custodial                 210               1          210        0.033        6.9
                                                                Agreement.
11720.............................  III-3....................  Master Agreement for             210               1          210        0.033        6.9
                                                                Servicer's Escrow
                                                                Custodial Account.
11732.............................  III-22...................  Custodian's                      144               1          144        0.016        2.3
                                                                Certification for
                                                                Construction
                                                                Securities.

[[Page 31625]]

 
                                    IX-1.....................  Financial Statements             210               1          210            1      210.0
                                                                and Audit Reports.
                                                               Mortgage Bankers                 350               4         1400          0.5      700.0
                                                                Financial Reporting
                                                                Form.
11709-A...........................  I-6......................  ACH Debit                        210               1          210        0.033        6.9
                                                                Authorization.
11710 D...........................  VI-5.....................  Issuer's Monthly                 210              12         2520        0.033       83.2
                                                                Summary Reports.
11710A, 1710B, 1710C &11710E......  VI-12....................  Issuer's Monthly                 110               1          110          0.5       55.0
                                                                Accounting Report
                                                                and Liquidation
                                                                Schedule.
                                                               Data Verification                210               2          420         0.05       21.0
                                                                Form.
                                    III-13...................  Electronic Data                   40               1           40        0.166        6.6
                                                                Interchange System
                                                                Agreement.
                                    III-14...................  Enrollment                        54               1           54            2      108.0
                                                                Administrator
                                                                Signatories for
                                                                Issuers and
                                                                Document Custodians.
                                    I-4......................  Cross Default                     10               1           10         0.05        0.5
                                                                Agreement.
                                    VI-18....................  WHFIT Reporting.....             210               4          840         0.25      210.0
                                    VI-19....................  Monthly Pool and                 210              12         2520          4.3    10836.0
                                                                Loan Level Report
                                                                (RFS).
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                                   The burden for the items listed below is based on volume and/or number of requests.
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11705.............................  III-6....................  Schedule of                      210              12        24800       0.0075      186.0
                                                                Subscribers and
                                                                Ginnie Mae Guaranty
                                                                Agreement.
11706.............................  III-7....................  Schedule of Pooled               210              12        24800       0.0075      186.0
                                                                Mortgages.
11708.............................  V-5......................  Document Release                 210               1          374         0.05       18.7
                                                                Request.
                                    XI-6, XI-8, XI-9.........  Soldiers' and                     32               4         8000        0.033     1056.0
                                                                Sailors' Quarterly
                                                                Reimbursement
                                                                Request and SSCRA
                                                                Loan Eligibility
                                                                Information.
11711A and 11711B.................  III-5....................  Release of Security              210               1        24800        0.005      124.0
                                                                Interest and
                                                                Certification and
                                                                Agreement.
11714 and 11714SN.................  VI-10, VI-11.............  Issuer's Monthly                 210              12        56500        0.016    10848.0
                                                                Remittance Advice
                                                                and Issuer's
                                                                Monthly Serial Note
                                                                Remittance Advice.
                                    VI-2.....................  Letter for Loan                  210              12          420        0.033       13.9
                                                                Repurchase.
                                    VII-1....................  Collection of                    210              12       344000       0.0125    51600.0
                                                                Remaining Principal
                                                                Balances.
                                    III-21...................  Certification                     11               1           11         0.05        0.6
                                                                Requirements for
                                                                the Pooling of
                                                                Multifamily Mature
                                                                Loan Program.
                                    VI-9.....................  Request for                       56               1           56         0.25       14.0
                                                                Reimbursement of
                                                                Mortgage Insurance
                                                                Claim Costs for
                                                                Multifamily Loans.
                                    VIII-3...................  Assignment                        63               1           63         0.13        8.2
                                                                Agreements.
                                    III-9....................  Authorization to                 210              12          128        0.016        2.0
                                                                Accept Facsimile
                                                                Signed Correction
                                                                Request Forms.
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    Total.........................  .........................  ....................  ..............          Varies      495,260       Varies     76,493
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    Authority:  Section 3506 of the Paperwork Reduction Act of 1995, 
44 U.S.C. Chapter 35, as amended.

    Dated: May 25, 2011.
Mary K. Kinney,
Executive Vice President, Government National Mortgage Association.
[FR Doc. 2011-13595 Filed 5-31-11; 8:45 am]
BILLING CODE 4210-67-P