[Federal Register Volume 79, Number 217 (Monday, November 10, 2014)]
[Notices]
[Pages 66736-66739]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2014-26647]
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DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT
[Docket No. FR-5755-N-01]
60-Day 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 President of Government National Mortgage
Association (Ginnie Mae), 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.
DATES: Comments Due Date: February 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: Colette Pollard, Q, Administrator
Support Specialist, Department of Housing and Urban Development, 451
7th Street SW., Room 4160, Washington, DC 20410; email
[email protected]; telephone (202) 708-0306, ext. 3400. This is
not a toll-free number. Copies of available documents submitted to OMB
may be obtained from Ms. Pollard.
FOR FURTHER INFORMATION CONTACT: Debra Murphy, Ginnie Mae, 451 7th
Street SW., Room B-133, Washington, DC 20410; email--
[email protected]; telephone--(202) 475-4923; fax--(202) 485-0225
(this is not a toll-free number); Merlene Hawkins, Ginnie Mae, 451 7th
Street SW., Room B-133, Washington, DC 20410; email--
[email protected]; telephone--(202) 475-4916; fax--(202) 485-0225
[[Page 66737]]
(this is not a toll-free number); or the Ginnie Mae Web site at
www.ginniemae.gov for other available information.
SUPPLEMENTARY INFORMATION: The Department will submit the proposed
information collection to OMB for review required by the Paperwork
Reduction Act of 1995 (44 U.S.C. Chapter 35, as amended).
This Notice is soliciting comments from members of the public and
affected 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 hours 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 Control Number, if applicable: 2503-0033.
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'').
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:
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 Register Notice.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.
[[Page 66738]]
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Frequency
Appendix Number of of Total Hours per Total
Form No. Title respondents responses annual response annual
per year responses 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 Signatures.
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 Agreement.... 468 1 468 0.033 15.4
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 Agreement.... 468 1 468 0.033 15.4
11720..................................... 111-3 Master Agreement for 468 1 468 0.033 15.4
Servicer's Escrow Custodial
Account.
11732..................................... 111-22 Custodian's Certification for 55 1 55 0.016 0.9
Construction Securities.
IX-1 Financial Statements and Audit 468 1 468 1 468 0
Reports.
........... Mortgage Bankers Financial 315 4 1260 0.5 630.0
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 & 11710E............. VI-12 Issuer's Monthly Accounting 315 1 315 0.13 41.0
Report and Liquidation
Schedule.
11710-DH.................................. VI-21 HMBS Issuer's Monthly Summary 14 12 168 0.13 21.8
Report.
111-13 Electronic Data Interchange 100 1 100 1 100.0
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
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 Acknowledgement 10 1 10 1 10
Agreement and Accompanying
Documents Pledge of Servicing.
VI-19 Monthly Pool and Loan Level 300 12 3600 0.13 468.0
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 and 315 12 42000 0.05 2100.0
Ginnie Mae Guaranty Agreement.
11706..................................... 111-7 Schedule of Pooled Mortgages.. 315 12 42000 0 08 97440.0
11705H.................................... 111-28 Schedule of Subscribers and 14 12 960 0.05 48
Ginnie Mae Guaranty
Agreement--HMBS Pooling-
Import File Layout.
11708..................................... V-5 Document Release.............. 329 1 329 0.05 16.5
XI-6, XI-8, Soldiers' and Sailors' 32 4 8000 0.033 1056.0
XI-9 Quarterly Reimbursement
Request and SSCRA Loan
Eligibility Information.
11711A and 11711B......................... 111-5 Release of Security Interest 329 1 678000 0.05 33900.0
and Certification and
Agreement.
11714 and 11714SN......................... VI-10, VI- Issuer's Monthly Remittance 329 12 56400 0.016 10828.8
11 Advice and Issuer's Monthly
Serial Note Remittance Advice.
VI-2 Letter for Loan Repurchase.... 315 12 600 0.033 237.6
V11-1 Collection of Remaining 315 12 4800000 0.033 158400.0
Principal Balances.
111-21 Certification Requirements for 298 1 29811 0.05 14.9
the Pooling of Multifamily
Mature Loan Program.
VI-9 Request for Reimbursement of 21 1 21 0.25 5.3
Mortgage Insurance Claim
Costs for Multifamily.
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 Specification for (\1\) 14 12 38,400 0.13 4992.0
MBSAA.
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Total................................. ........... .............................. ........... (\2\) 10,481,385 (\2\) 2,617,654
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\1\ Pooling & Report.
\2\ Varies.
[[Page 66739]]
Authority: Section 3506 of the Paperwork Reduction Act of 1995,
44 U.S.C. Chapter 35, as amended.
Dated: October 23, 2014.
Mary K. Kinney,
Executive Vice President, Government National Mortgage Association.
[FR Doc. 2014-26647 Filed 11-7-14; 8:45 am]
BILLING CODE 4210-67-P