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Notice of Proposed Information Collection: Comment Request; Issuer's Monthly Remittance Advice and Issuer's Monthly Serial Note Remittance Advice

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Office of the President of the Government National Mortgage Association (Ginnie Mae), HUD.




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.


Comments Due Date: April 17, 2001.


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: Sonya Suarez, Government National Mortgage Association, Office of Policy, Planning and Risk Management, Department of Housing & Urban Development, 451—7th Street, SW, Room 6226, Washington, DC 20410.

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Sonya Suarez, Ginnie Mae, (202) 708-2772 (this is not a toll-free number), for copies of the proposed forms and other available documents.

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The Department will submit the proposed information collection to OMB for review, as required by the Paperwork Reduction Act of 1995 (44 U.S.C. Chapter 35, as amended).

Through this Notice, the Department 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 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 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: Issuer's Monthly Remittance Advice and Issuer's Monthly Serial Note Remittance Advice.

OMB Control Number, if applicable: 2503-0015.

Description of the need for the information and proposed use: The Form HUD 11714 is used to advise each security holder of the current month's account transactions and calculation of holder's pro rata share percentage of total cash distribution. The Form HUD 11714SN is used to provide a summary of information to the holders of Serial Note Certificates with respect to the current month's account transactions, calculation of interest and principal to be distributed, and data with respect to the redemption of Serial Units.

Agency form numbers, if applicable: HUD Form 11714 and 11714SN.

Members of affected public: For-profit business (mortgage industry trade associations, securities companies, accounting firms, law firms, service providers, etc.)

Estimation of the total numbers of hours needed to prepare the information collection including number of respondents, frequency of response, and hours of response:

Estimation of total number of hours needed to prepare the information collection is based on the number of respondents multiplied by the frequency of responses:

445 issuers + 21,500 responses = 21,945 responses

21,945 × 12 months = 263,340 Annual Responses,

263,340 × .01 (1 minute) = 2,633 Annual Burden Hours

Status of the proposed information collection: This is a reinstatement, with change, of a previously approved collection for which approval has expired.

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Authority: Section 3506 of the Paperwork Reduction Act of 1995, 44 U.S.C. Chapter 35, as amended.

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Dated: February 1, 2001.

George S. Anderson,

Executive Vice President, Ginnie Mae.

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[FR Doc. 01-3904 Filed 2-15-01; 8:45 am]