[Federal Register Volume 80, Number 24 (Thursday, February 5, 2015)]
[Notices]
[Pages 6533-6535]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2015-02253]


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DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT

[Docket No. FR-5831-N-08]


30-Day Notice of Proposed Information Collection: 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: HUD has submitted the proposed information collection 
requirement described below to the Office of Management and Budget 
(OMB) for review, in accordance with the Paperwork Reduction Act. The 
purpose of this notice is to allow for an additional 30 days of public 
comment.

DATES: Comments Due Date: March 9, 2015.

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: HUD Desk Officer, Office of 
Management and Budget, New Executive Office Building, Washington, DC 
20503; fax: 202-395-5806. Email: [email protected].

FOR FURTHER INFORMATION CONTACT: Anna Guido, Reports Management 
Officer, QDAM, Department of Housing and Urban Development, 451 7th 
Street SW., Washington, DC 20410; email at Anna [email protected] or 
telephone 202-402-5535. Persons with hearing or speech impairments may 
access this number through TTY by calling the toll-free Federal Relay 
Service at (800) 877-8339. This is not a toll-free number. Copies of 
available documents submitted to OMB may be obtained from Ms. Guido.

SUPPLEMENTARY INFORMATION: This notice informs the public that HUD has 
submitted to OMB a request for approval of the information collection 
described in Section A.
    The Federal Register notice that solicited public comment on the 
information collection for a period of 60 days was published on 
November 10, 2014.

A. Overview of Information Collection

    Title of Information Collection: Ginnie Mae Mortgage-Backed 
Securities Guide 5500.3, Revision 1 (Forms and Electronic Data 
Submissions).
    OMB Approval Number: 2501-0033.
    Type of Request: Revision of a currently approved collection.
    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 
pr.hgram 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'').

Description of Proposed New Requirements

    Due to the acceleration of non-depository issuers entering in the 
Ginnie Mae program, regulatory changes and changes to the insuring/
guarantying agencies programs, Ginnie Mae is expanding its data 
collection and disclosure processes.

ARM Pools

    In order to verify that loans backing Ginnie Mae ARM pools meet the 
new 45 day look back period, Ginnie Mae will be collecting two new data 
elements. One new data element will be completed on the HUD Form 11705 
at issuance. This will be a look-back period data element which will be 
a drop down selection of either 30 days or 45 days. The second new data 
will be completed on the HUD Form 11706 for ARMS pools only at this 
time. This will be the loan origination date (name will be changed to 
Note Date at a later time).

MISMO

    Ginnie Mae is implementing a new pool delivery data set using MISMO 
standard data definitions with respect to Single Family Issuances. This 
will include the addition of 16 new data points, of which three will be 
required, three will be conditionally required and the remaining eleven 
will be optional. The data points are as follows:
    Required New Data Points:
    Construction Method Typ.. MH), Amortization Type & Note Date (name 
changed from loan origination date and will be for all pools).
    Conditionally Required New Data Points:
    Down Payment Amount, Loan Modification Effective Date & Suffix Name
    Optional New Data Points:

[[Page 6534]]

    Construction Method Type (other than MH), Property Valuation 
Amount, Property Valuation Effective Date, Purchase Price Amount, 
Guaranty Amount (if VA), Guaranty Percent (if VA), Middle Name, Full 
Name, Curtailment Data Points (Monetary Event Applied Date, Monetary 
Event Gross Principal Amount & Monetary Event Type).

Loan Level

    Ginnie Mae is proposing the collection of additional data elements 
at the loan level to supplement the monthly reporting collection of 
data. The additional data elements are being added to provide Ginnie 
Mae greater oversight of its program participants and will be collected 
as part of the monthly reporting submission. The proposed additional 
new data elements are as follows:
    Bankruptcy Action Type, Bankruptcy Case Identifier, Bankruptcy 
Chapter Type, Bar Date, Bar Date, Borrower Bankruptcy Indicator, 
Borrower Classification Type, Borrower Total Mortgaged Properties 
Count, Counseling Initiated Indicator, Credit Score Date, Document 
Custodian ID, Insurance Claim Coverage Type, Investor UPB, Adjustment 
to Investor UPB, Prospective Note Rate, Prospective P&I (FIC), 
Effective Date of Rate Change, Lien Holder Type, Net Note Rate, 
Servicer Transfer Effective Date, Servicer Type, Loan P&I Institution 
ID and Account Number, Loan Ti(Institution ID and Account Number, Sub-
Servicer ID, Sub & Servicer Rights Type and Total Subordinate Financing 
Amount.

New Issuer Applications

    Ginnie has automated its new issuer the application process used to 
approval. The new automated process requires applicants to complete two 
online courses through Ginnie Mae Online University.
    HMBS:
    Ginnie Mae will be expanding its data collection at issuance in 
order to enhance data disclosures.
    The addition of the new data elements are the reason for the 
increase of burden hours. Please see the below link for more 
information regarding the additional data elements. http://www.ginniemae.gov\products\_programs\Pages\Federal_RegisterNotices.aspx.

    There are 15 forms and appendices in our collection which are 
volume driven rather than participant driven: these have increased as 
our portfolio has grown.
    Included in the Guide are the appendices, forms, and documents 
necessary for Ginnie Mae to properly administer its MBS programs.
    Agency form numbers: 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
           Form                   Appendix No.                  Title              Number of     responses per   Total annual    Hours per      annual
                                                                                  respondents        year          responses      response      hours
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11700....................  11-1.....................  Letter of Transmittal...             329               4            1200        0.033         43.4
11701....................  1-1......................  Application for Approval             100               1             100           .3        300.0
                                                       Ginnie Mae Mortgage-
                                                       Backed Securities
                                                       Issuer.
11702....................  1-2......................  Resolution of Board of               454               1             454         0.08         36.3
                                                       Directors and
                                                       Certificate of
                                                       Authorized Si a natures.
11703-...................  1-7......................  Master Agreement for                  14               1              14         0.08          1.1
                                                       Participation
                                                       Accounting.
11704....................  11-2.....................  Commitment to Guaranty               329               4            1316        0.033         43.4
                                                       Mortgage-Backed
                                                       Securities.
11707....................  111-1....................  Master Servicing                     468               1             468        0.033         15.4
                                                       Agreement.
11709....................  111-2....................  Master Agreement for                 468               1             468        0.033         15.4
                                                       Servicer's Principal
                                                       and Interest Custodial
                                                       Account.
11715....................  111-4....................  Master Custodial                     468               1             468        0.033         15.4
                                                       Agreement.
11720....................  111-3....................  Master Agreement for                 468               1             468        0.033         15.4
                                                       Servicer's Escrow
                                                       Custodial Account.
11732....................  111-22...................  Custodian's                           55               1              55        0.016          0.9
                                                       Certification for
                                                       Construction Securities.
                           IX-1.....................  Financial Statements and             468               1             468            1        468.0
                                                       Audit Reports.
                                                      Mortgage Bankers                     315               4            1260          0.5        630.0
                                                       Financial Reporting
                                                       Form.
11709-A..................  1-6......................  ACH Debit Authorization.             468               1             468        0.033         15.4
11710 D..................  VI-5.....................  Issuer's Monthly Summary             315              12            3780         0.13        491.4
                                                       Reports.
11710A, 1710B, 1710C       VI-12....................  Issuer's Monthly                     315               1             315         0.13         41.0
 &11710E.                                              Accounting Report and
                                                       Liquidation Schedule.
11710-DH.................  VI-21....................  HMBS Issuer's Monthly                 14              12             168         0.13         21.8
                                                       Summary Report.
                           111-13...................  Electronic Data                      100               1             100            1        100.0
                                                       Interchange System
                                                       Agreement.
                           111-14...................  Enrollment Administrator             100               1             100            1        100.0
                                                       Signatories for Issuers
                                                       and Document Custodians.
                           1-4......................  Cross Default Agreement.              10               1              10         0.05          0.5

[[Page 6535]]

 
                           VI-18....................  WHFIT Reporting.........             329               4            1316         0.13        171.0
                           111-29...................  Enterprise Portal (GMEP)             100               1             100            1        100.0
                                                      Registration Forms......
                           VIII-1...................  Ginnie Mae                            10               1              10            1           10
                                                       Acknowledgement
                                                       Agreement and
                                                       Accompanying Documents
                                                       Pledge of Servicing.
                           VI-19....................  Monthly Pool and Loan                300              12            3600         0.13        468.0
                                                       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....................  111-6....................  Schedule of Subscribers              315              12           42000         0.05       2100.0
                                                       and Ginnie Mae Guaranty
                                                       Agreement.
11706....................  111-7....................  Schedule of Pooled                   315              12           42000          008      97440.0
                                                       Mortgages.
11705H...................  111-28...................  Schedule of Subscribers               14              12             960         0.05           48
                                                       and Ginnie Mae Guaranty
                                                       Agreement -HMBS Pooling-
                                                       Import File Layout.
11708....................  V-5......................  Document Release Request             329               1             329         0.05         16.5
                           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........  111-5....................  Release of Security                  329               1          678000         0.05      33900.0
                                                       Interest and
                                                       Certification and
                                                       Agreement.
11714 and 11714SN........  VI-10, VI-11.............  Issuer's Monthly                     329              12           56400        0.016      10828.8
                                                       Remittance Advice and
                                                       Issuer's Monthly Serial
                                                       Note Remittance Advice.
                           VI-2.....................  Letter for Loan                      315              12             600         0033        237.6
                                                       Repurchase.
                           V11-1....................  Collection of Remaining              315              12         4800000        0.033     158400.0
                                                       Principal Balances.
                           111-21...................  Certification                        298               1           29811         0.05         14.9
                                                       Requirements for the
                                                       Pooling of Multifamily
                                                       Mature Loan Program.
                           VI-9.....................  Request for                           21               1              21         0.25          5.3
                                                       Reimbursement of
                                                       Mortgage Insurance
                                                       Claim Costs for
                                                       Multifamily Loans.
                           VIII-3...................  Assignment Agreements...              67               1              67         0.13          8.7
                           111-9....................  Authorization to Accept              329              12             128        0.016          2.0
                                                       Facsimile Signed
                                                       Correction Request
                                                       Forms.
                           VI-17....................  HMBS Issuer Pooling &                 14              12           38400         0.13       4992.0
                                                       Report Specification
                                                       for MBSAA.
                                                                                                               ----------------             ------------
    Total................  .........................  ........................  ..............          Varies      10,481,385       Varies    2,617,654
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Solicitation of Public Comment

    This notice is soliciting comments from members of the public and 
affected parties concerning the collection of information described in 
Section A on the following:
    (1) 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) The accuracy of the agency's estimate of the burden of the 
proposed collection of information;
    (3) Ways to enhance the quality, utility, and clarity of the 
information to be collected; and
    (4) Ways to 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.
    HUD encourages interested parties to submit comment in response to 
these questions.

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

    Dated: January 28, 2015.
Anna Guido,
Department Reports Management Officer, Office of the Chief Information 
Officer.
[FR Doc. 2015-02253 Filed 2-4-15; 8:45 am]
BILLING CODE 4210-67-P