[Federal Register Volume 81, Number 168 (Tuesday, August 30, 2016)]
[Notices]
[Pages 59647-59649]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2016-20799]


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DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT

[Docket No. FR-5909-N-62]


30-Day Notice of Proposed Information Collection: Ginnie Mae 
Multiclass Securities Program Documents 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

[[Page 59648]]

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: September 29, 2016.

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 P. Guido, Reports Management 
Officer, QDAM, Department of Housing and Urban Development, 451 7th 
Street SW., Washington, DC 20410; email Anna P. Guido at 
[email protected] or telephone 202-402-5533. This is not a toll-free 
number. Persons with hearing or speech impairments may access this 
number through TTY by calling the toll-free Federal Relay Service at 
(800) 877-8339. Copies of available documents submitted to OMB may be 
obtained from Ms. Guido.

SUPPLEMENTARY INFORMATION: This notice informs the public that HUD is 
seeking approval from OMB for 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 June 
23, 2016 at 81 FR 40897.

A. Overview of Information Collection

    Title of Information Collection: Ginnie Mae Multiclass Securities 
Program Documents, Forms and Electronic Data Submissions.
    OMB Control Number: 2503-0030.
    Form Number: None.
    Type of Request: Extension.
    Description of the need for information and proposed use: This 
information collection is required in connection with the operation of 
the Ginnie Mae Multiclass Securities program. Ginnie Mae's authority to 
guarantee multiclass instruments is contained in 306(g)(1) of the 
National Housing Act (``NHA'') (12 U.S.C. 1721(g)(1)), which authorizes 
Ginnie Mae to guarantee ``securities . . . based on or backed by a 
trust or pool composed of mortgages. Multiclass securities are backed 
by Ginnie Mae securities, which are backed by government insured or 
guaranteed mortgages. Ginnie Mae's authority to operate a Multiclass 
Securities program is recognized in Section 3004 of the Omnibus Budget 
Reconciliation Act of 1993 (``OBRA''), which amended 306(g)(3) of the 
NHA (12 U.S.C. 1271(g)(3)) to provide Ginnie Mae with greater 
flexibility for the Multiclass Securities program regarding fee 
structure, contracting, industry consultation, and program 
implementation. Congress annually sets Ginnie Mae's commitment 
authority to guarantee mortgage-backed (``MBS'') pursuant to 306(G)(2) 
of the NHA (12 U.S.C. 1271(g)(2)). Since the multiclass are backed by 
Ginnie Mae Single Class MBS, Ginnie Mae has already guaranteed the 
collateral for the multiclass instruments. The Ginnie Mae Multiclass 
Securities Program consists of Ginnie Mae Real Estate Mortgage 
Investment Conduit (``REMIC'') securities, Stripped Mortgage-Backed 
Securities (``SMBS''), and Platinum securities. The Multiclass 
Securities program provides an important adjunct to Ginnie Mae's 
secondary mortgage market activities, allowing the private sector to 
combine and restructure cash flows from Ginnie Mae Single Class MBS 
into securities that meet unique investor requirements in connection 
with yield, maturity, and call-option protection. The intent of the 
Multiclass Securities program is to increase liquidity in the secondary 
mortgage market and to attract new sources of capital for federally 
insured or guaranteed loans. Under this program, Ginnie Mae guarantees, 
with the full faith and credit of the United States, the timely payment 
of principal and interest on Ginnie Mae REMIC, SMBS and Platinum 
securities.

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                                                                   Estimated
                                                      Number of     annual       Total     Estimated   Estimated
 Type of information collection     (Prepared by)     potential    frequency    annual      average     annual
                                                       sponsors       per      responses    hourly      burden
                                                                  respondant                burden       hours
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REMIC Securities
    Pricing Letter.............  Sponsor...........           18        8.00      144.00        0.50       72.00
    Structured Term Sheet......  Sponsor...........           18        8.00      144.00        3.00      432.00
    Trust (REMIC) Agreement....  Attorney for                 18        8.00      144.00        1.00      144.00
                                  Sponsor.
    Trust Opinion..............  Attorney for                 18        8.00      144.00        4.00      576.00
                                  Sponsor.
    MX Trust Agreement.........  Attorney for                 18        8.00      144.00        0.16       23.04
                                  Sponsor.
    MX Trust Opinion...........  Attorney for                 18        8.00      144.00        4.00      576.00
                                  Sponsor.
    RR Certificate.............  Attorney for                 18        8.00      144.00        0.08       11.52
                                  Sponsor.
    Sponsor Agreement..........  Attorney for                 18        8.00      144.00        0.05        7.20
                                  Sponsor.
    Table of Contents..........  Attorney for                 18        8.00      144.00        0.33       47.52
                                  Sponsor.
    Issuance Statement.........  Attorney for                 18        8.00      144.00         0.5       72.00
                                  Sponsor.
    Tax Opinion................  Attorney for                 18        8.00      144.00        4.00      576.00
                                  Sponsor.
    Transfer Affidavit.........  Attorney for                 18        8.00      144.00        0.08       11.52
                                  Sponsor.
    Supplemental Statement.....  Attorney for                 18        0.25        4.50        1.00        4.50
                                  Sponsor.
    Final Data Statements        Attorney for                 18        8.00      144.00       32.00     4608.00
     (attached to closing         Sponsor.
     letter).
    Accountants' Closing Letter  Accountant........           18        8.00      144.00        8.00     1152.00
    Accountants' OSC Letter....  Accountant........           18        8.00      144.00        8.00     1152.00
    Structuring Data...........  Accountant........           18        8.00      144.00        8.00     1152.00
    Financial Statements.......  Accountant........           18        8.00      144.00        1.00      144.00
    Principal and Interest       Trustee...........           18        8.00      144.00       16.00     2304.00
     Factor File Specifications.
    Distribution Dates and       Trustee...........           18        8.00      144.00        0.42       60.48
     Statement.
    Term Sheet.................  Sponsor...........           18        8.00      144.00        2.00      288.00
    New Issue File Layout......  Trustee...........           18        8.00      144.00        4.00      576.00
    Flow of Funds..............  Attorney for                 18        8.00      144.00        0.16       23.04
                                  Trustee.
    Trustee Receipt............  Trustee Attorney..           18       8.00,      144.00        2.00      288.00
                                                    ------------------------------------------------------------

[[Page 59649]]

 
    Subtotal...................  ..................  ...........  ..........   $3,316.50  ..........   14,300.82
Platinum Securities
    Deposit Agreement..........  Depositor.........           19       10.00      190.00        1.00      190.00
    MBS Schedule...............  Depositor.........           19       10.00      190.00        0.16       30.40
    New Issue File Layout......  Depositor.........           19       10.00      190.00        4.00      760.00
    Principal and Interest       Trustee...........           19       10.00      190.00       16.00     3040.00
     Factor File Specifications.
                                                    ------------------------------------------------------------
    Subtotal...................  ..................  ...........  ..........     $760.00  ..........   $4,020.40
                                                    ------------------------------------------------------------
    Total Annual Responses.....  ..................  ...........  ..........   $4,076.50  ..........  ..........
                                                    ------------------------------------------------------------
    Total Burden Hours.........  ..................  ...........  ..........  ..........  ..........  $18,321.22
Calculation of Burden Hours:
Sponsors x Frequency per Year =
 Est. Annual Frequency
Est. Annual Frequency x Est.
 Average Completion Time = Est.
 Annual Burden Hours
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B. 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.

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

    Dated: August 23, 2016.
Anna P. Guido,
Department of Paperwork Reduction Act Officer, Office of the Chief 
Information Officer.
[FR Doc. 2016-20799 Filed 8-29-16; 8:45 am]
 BILLING CODE 4210-67-P