[Federal Register Volume 77, Number 121 (Friday, June 22, 2012)]
[Notices]
[Pages 37697-37699]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2012-15324]


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DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT

[Docket No. FR-5606-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 21, 2012.

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; email 
[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; email_
[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; email_
[email protected];

[[Page 37698]]

telephone--(202) 475-6752; fax--(202) 485-0225 (this is not a toll-free 
number); or the Ginnie Mae Web site at 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, 11715, 11720, 11732, 
11785.
    While most of the calculations are based on the 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                       Hours per
              Form                      Appendix No.               Title            Number of     responses    Total annual    response    Total annual
                                                                                   respondents     per year      responses        \a\          hours
                                                                                                     \a\
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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                210            1             210      0.033              6.9
                                                             for 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                210            1             210      0.033              6.9
                                                             for Servicer's
                                                             Escrow Custodial
                                                             Account.
11732...........................  III-22..................  Custodian's                     144            1             144      0.016              2.3
                                                             Certification for
                                                             Construction
                                                             Securities.
                                  IX-1....................  Financial                       210            1             210      1                210.0
                                                             Statements and
                                                             Audit Reports.
                                                            Mortgage Bankers                350            4           1,400      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           2,520      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.

[[Page 37699]]

 
                                  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           2,520      4.3           10,836.0
                                                             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          24,800      0.0075           186.0
                                                             Subscribers and
                                                             Ginnie Mae
                                                             Guaranty Agreement.
11706...........................  III-7...................  Schedule of Pooled              210           12          24,800      0.0085           210.8
                                                             Mortgages.
11708...........................  V-5.....................  Document Release                210            1             374      0.05              18.7
                                                             Request.
                                  XI-6, XI-8, XI-9........  Soldiers' and                    32            4           8,000      0.033          1,056.0
                                                             Sailors' Quarterly
                                                             Reimbursement
                                                             Request and SSCRA
                                                             Loan Eligibility
                                                             Information.
11711A and 11711B...............  III-5...................  Release of Security             210            1          24,800      0.005            124.0
                                                             Interest and
                                                             Certification and
                                                             Agreement.
11714 and 11714SN...............  VI-10, VI-11............  Issuer's Monthly                210           12          56,500      0.016         10,848.0
                                                             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         344,000      0.0125        51,600.0
                                                             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.......................  ........................  ...................  ..............  ...........         495,260  ..........          76,518
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\a\ Varies.


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

    Dated: June 4, 2012.
Mary K. Kinney,
Executive Vice President, Government National Mortgage Association.
[FR Doc. 2012-15324 Filed 6-21-12; 8:45 am]
BILLING CODE 4210-67-P