[Federal Register Volume 85, Number 9 (Tuesday, January 14, 2020)]
[Notices]
[Pages 2141-2143]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-00317]


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DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT

[Docket No. FR-7011-N-63]


30-Day Notice of Proposed Information Collection: Ginnie Mae 
Multiclass Securities Program Documents; OMB #2503-0030

AGENCY: Office of the Chief Information Officer, HUD.

ACTION: Notice.

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SUMMARY: HUD is seeking approval from the Office of Management and 
Budget (OMB) for the information collection described below. In 
accordance with the Paperwork Reduction Act, HUD is requesting comment 
from all interested parties on the proposed collection of information. 
The purpose of this notice is to allow for 30 days of public comment.

DATES: Comments Due Date: February 13, 2020.

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: OIRA [email protected].

FOR FURTHER INFORMATION CONTACT: Anna P. Guido, Reports Management 
Officer, QMAC, Department of Housing and Urban Development, 451 7th 
Street SW, Washington, DC 20410; email her at [email protected] or 
telephone 202-402-5535. This is not a toll-free number. Person 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 
November 4, 2019 at 84 FR 59412.

A. Overview of Information Collection

    Title of Information Collection: Ginnie Mae Multiclass Securities 
Program Documents (Forms and Electronic Data Submissions).
    OMB Approval Number: 2503-0030.
    Type of Request: Reinstatement of currently approved collection.
    Form Number: None.
    Description of the need for the 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

[[Page 2142]]

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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                                             Number of     Frequency of    Responses per    Burden hour    Annual burden    Hourly cost
         Information collection             respondents      response          annum        per reponse         hrs        per response     Annual cost
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Pricing Letter..........................           18.00           10.00          180.00            0.50           90.00          $43.00       $3,870.00
Structured Term Sheet...................           18.00           10.00          180.00            3.00          540.00           43.00       23,220.00
Trust (REMIC) Agreement.................           18.00           10.00          180.00            1.00          180.00           43.00        7,740.00
Trust Opinion...........................           18.00           10.00          180.00            4.00          720.00           43.00       30,960.00
MX Trust Agreement......................           18.00           10.00          180.00            0.16           28.80           43.00        1,238.40
MX Trust Opinion........................           18.00           10.00          180.00            4.00          720.00           43.00       30,960.00
RR Certificate..........................           18.00           10.00          180.00            0.08           14.40           43.00          619.20
Sponsor Agreement.......................           18.00           10.00          180.00            0.05            9.00           43.00          387.00
Table of Contents.......................           18.00           10.00          180.00            0.33           59.40           43.00        2,554.20
Issuance Statement......................           18.00           10.00          180.00            0.05            9.00           43.00          387.00
Tax Opinion.............................           18.00           10.00          180.00            4.00          720.00           43.00       30,960.00
Transfer Affidavit......................           18.00           10.00          180.00            0.08           14.40           43.00          619.20
Supplemental Statement..................           18.00            0.25            4.50            1.00            4.50           43.00          193.50
Final Data Statements (attached to                 18.00           10.00          180.00           32.00        5,760.00           43.00      247,680.00
 closing letter)........................
Accountants' Closing Letter.............           18.00           10.00          180.00            8.00        1,440.00           43.00       61,920.00
Accountants' OSC Letter.................           18.00           10.00          180.00            8.00        1,440.00           43.00       61,920.00
Structuring Data........................           18.00           10.00          180.00            8.00        1,440.00           43.00       61,920.00
Financial Statements....................           18.00           10.00          180.00            1.00          180.00           43.00        7,740.00
Principal and Interest Factor File                 18.00           10.00          180.00           16.00        2,880.00           43.00      123,840.00
 Specifications.........................
Distribution Dates and Statement........           18.00           10.00          180.00            0.42           75.60           43.00        3,250.80
Term Sheet..............................           18.00           10.00          180.00            2.00          360.00           43.00       15,480.00
New Issue File Layout...................           18.00           10.00          180.00            4.00          720.00           43.00       30,960.00
Flow of Funds...........................           18.00           10.00          180.00            0.16           28.80           43.00        1,238.40
Trustee Receipt.........................           18.00           10.00          180.00            2.00          360.00           43.00       15,480.00
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    Subtotal............................  ..............  ..............  ..............  ..............       17,793.90  ..............      765,137.70
Platinum Securities.....................  ..............  ..............        4,144.50  ..............  ..............  ..............  ..............
Deposit Agreement.......................           19.00           10.00          190.00            1.00          190.00           43.00        8,170.00
MBS Schedule............................           19.00           10.00          190.00            0.16           30.40           43.00        1,307.20
New Issue File Layout...................           19.00           10.00          190.00            4.00          760.00           43.00       32,680.00
Principal and Interest Factor File                 19.00           10.00          190.00           16.00        3,040.00           43.00      130,720.00
 Specifications.........................
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    Subtotal............................  ..............  ..............          760.00  ..............        4,020.40  ..............      172,877.20
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        Total Annual Responses..........  ..............  ..............        4,904.50  ..............  ..............  ..............  ..............
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        Total Burden Hours..............  ..............  ..............  ..............  ..............       21,814.30  ..............  ..............
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        Total Cost......................  ..............  ..............  ..............  ..............  ..............  ..............      938,014.90
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[[Page 2143]]

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.

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

    Dates: December 20, 2019.
Anna P. Guido,
Department Reports Management Officer, Office of the Chief Information 
Officer.
[FR Doc. 2020-00317 Filed 1-13-20; 8:45 am]
BILLING CODE 4210-67-P