[Federal Register Volume 77, Number 239 (Wednesday, December 12, 2012)]
[Notices]
[Pages 74022-74024]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2012-29980]


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DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT

[Docket No. FR-5603-N-90]


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 Chief Information Officer, 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.
    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.

DATES: Comments Due Date: January 11, 2013.

ADDRESSES: Interested persons are invited to submit comments regarding 
this proposal. Comments should refer to the proposal by name and/or OMB 
Control Number (2503-0033) and should be sent to: HUD Desk Officer, 
Office of Management and Budget, New Executive Office Building, 
Washington, DC 20503; Email: OIRA Submission @omb.eop.gov; fax: 202-
395-5806.

FOR FURTHER INFORMATION CONTACT: Colette Pollard, Reports Management 
Officer, QDAM, Department of Housing and Urban Development, 451 7th 
Street SW., Washington, DC 20410; email [email protected]; 
telephone (202) 402-3400. This is not a toll-free number. Copies of 
available documents submitted to OMB may be obtained from Ms. Pollard.

SUPPLEMENTARY INFORMATION: This notice informs the public that the 
Department of Housing and Urban Development has submitted to OMB a 
request for approval of the Information collection described below. 
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, 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 Approved Number: 2503-0033.
    Form number: HUD-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.
    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.
    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
           Form                Appendix No.               Title              Number of     responses per   Total annual      Hours per     Total annual
                                                                            respondents        year          responses       response          hours
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11700....................  II-1................  Letter of Transmittal..             210               4             840           0.033            27.7

[[Page 74023]]

 
11701....................  I-1.................  Application for                     100               1             100               1           100.0
                                                  Approval Ginnie Mae
                                                  Mortgage-Backed
                                                  Securities Issuer.
11702....................  I-2.................  Resolution of Board of              210               1             210            0.08            16.8
                                                  Directors and
                                                  Certificate of
                                                  Authorized Signatures.
11704....................  II-2................  Commitment to Guaranty              210               4             840           0.033            27.7
                                                  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.
                           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 Authorization             210               1             210           0.033             6.9
11710 D..................  VI-5................  Issuer's Monthly                    210              12            2520           0.033            83.2
                                                  Summary Reports.
11710A, 1710B, 1710C &     VI-12...............  Issuer's Monthly                    110               1             110             0.5            55.0
 11710E.                                          Accounting Report and
                                                  Liquidation Schedule.
                                                 Data Verification Form.             210               2             420            0.05            21.0
                           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 Agreement              10               1              10            0.05             0.5
                           VI-18...............  WHFIT Reporting........             210               4             840            0.25           210.0
                           VI-19...............  Monthly Pool and Loan               210              12            2520             4.3         10836.0
                                                  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 Subscribers             210              12           24800          0.0075           186.0
                                                  and Ginnie Mae
                                                  Guaranty Agreement.
11706....................  III-7...............  Schedule of Pooled                  210              12           24800          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 Sailors'               32               4            8000           0.033          1056.0
                                                  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 Remaining             210              12          344000          0.0125         51600.0
                                                  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 Agreements..              63               1              63            0.13             8.2

[[Page 74024]]

 
                           III-9...............  Authorization to Accept             210              12             128           0.016             2.0
                                                  Facsimile Signed
                                                  Correction Request
                                                  Forms.
                                                                         -------------------------------------------------------------------------------
                           Total...............  .......................          Varies         495,260          Varies          76,518
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    Status: Revision of a currently approved collection.

    Authority: Section 3507 of the Paperwork Reduction Act of 1995, 
44 U.S.C. 35, as amended.

    Dated: December 5, 2012.
Colette Pollard,
Department Reports Management Officer, Office of the Chief Information 
Officer.
[FR Doc. 2012-29980 Filed 12-11-12; 8:45 am]
BILLING CODE 4210-67-P