[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.
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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