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Notice

Notice of Proposed Information Collection: Comment Request; Ginnie Mae Mortgage-Backed Securities Guide 5500.3, Revision 1 (Forms and Electronic Data Submissions)

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Information about this document as published in the Federal Register.

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This document has been published in the Federal Register. Use the PDF linked in the document sidebar for the official electronic format.

Start Preamble

AGENCY:

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

ACTION:

Notice.

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: August 8, 2005.

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:

Wayne Eddins, AYO, Reports Management Officer, Department of Housing and Urban Development, 451 7th Street SW., L'Enfant Plaza Bldg., Rm. 800a, Washington, DC 20410; fax: 202-708-3135; e-mail Wayne_Eddins@HUD.gov.

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FOR FURTHER INFORMATION CONTACT:

Debra Murphy, Ginnie Mae, 451 7th Street, SW., Room B-133, Washington, DC 20410; e-mail: Debra_L._Murphy@hud.gov; telephone (202) 475-4923; fax: 202-485-0225 (this is not a toll-free number) or the Ginnie Mae Web site at http://www.ginniemae.gov for copies of the proposed forms and other available information.

End Further Info End Preamble Start Supplemental Information

SUPPLEMENTARY INFORMATION:

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).

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, Start Printed Page 33520utility, 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 technolgy, 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”). Participants in the Ginnie Mae I program issue securities backed by single-family or multifamily loans. Participants in the Ginnie Mae II program issue securities backed by single-family loans. The Ginnie Mae II MBS are modified pass-through MBS on which registered holders receive an aggregate principal and interest payment from a central paying agent on all of their Ginnie Mae II MBS. The Ginnie Mae II MBS also allow small issuers who do not meet the minimum dollar pool requirements of the Ginnie Mae I MBS to participate in the secondary mortgage market. In addition, the Ginnie Mae II MBS permit the securitization of adjustable rate mortgages (“ARMs”). Included in the Guide are forms and documents used to collect information from the public, in order for Ginnie Mae to properly administer its MBS programs.

Agency form numbers, if applicable: 11700, 11701, 11702, 11704, 11705, 11706, 11707, 11708, 11709, 11709-A, 11710-A, 1710-B, 1710-C, 11710-D, 11710-E, 11711-A, 11711-B, 11712, 11712-II, 11714, 11714-SN, 11715, 11717, 11717-II, 11720, 1724, 11728, 11728-II, 1731, 11732, 1734, 11747, 11747-II, 11748-A, 11748-C, 11772-II.

Estimation of the Total Number of Hours Needed To Prepare the Information Collection Including Number of Respondents, Frequency of Response, and Hours of Response

FormAppendix No.TitleNumber of respondentsFrequency of responses per yearTotal annual responsesHours per responseTotal annual hours
11700II-1Letter of Transmittal16046400.17109
11701I-1Application for Approval FHA Lender and/or Ginnie Mae Mortgage-Backed Securities Issuer161161.5024
11702I-2Resolution of Board of Directors and Certificate of Authorized Signatures27112710.1746
11704II-2Commitment to Guaranty Mortgage-Backed Securities16046400.25160
11705III-6Schedule of Subscribers and Ginnie Mae Guaranty Agreement2711224,1440.0166401
11706III-7Schedule of Pooled Mortgages2711224,1440.0166401
11707III-1Master Servicing Agreement27112710.1746
11708V-5Document Release Request271102,7100.21,843
11709III-2Master Agreement for Servicer's Principal and Interest Custodial Account27112710.038
11709-AI-6ACH Debit Authorization27112710.2568
11710A, 1710B, 1710C and 11710EVI-4, VI-12, VI-13Issuer's Monthly Accounting Report and Liquidation Schedule271124,728,0000.016678,485
11710DVI-5Issuer's Monthly Summary Reports271124,9200.016681.67
1171A and 11711BIII-5Release of Security Interest and Certification and Agreement2711224,1440.0166400.79
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11712, 11712-II, 11717, 11717-II, 1724, 11728, 11728-II, 1724, 11728, 11728-II, 1731, 1734, 11747, 11747-II and 11772-IIIV-6, IV-23, IV-4, IV-20, IV-8, IV-24, IV-5, IV-22, IV-21, IV-9, IV-10, IV-7Ginnie Mae I, and II Prospectus Forms2711224,1440.0166401
11714 and 11714SNVI-10, VI-11Issuer's Monthly Remittance Advice and Issuer's Monthly Serial Note Remittance Advice271398107,8580.01661,790.44
11715III-4Master Custodial Agreement27112710.2567.75
11720III-3Master Agreement for Servicer's Escrow Custodial Account27112710.2567.75
11732III-22Custodian's Certification for Construction Securities751750.01661.25
11749 A and 11748 CVI-6, VI-16Addendum to Monthly Accounting Report—Adjustable Rate Mortgage Loan Package19681,5680.016626.03
Monthly Loan Level Reporting271123,252413,008
IX-1Financial Statements and Audit Reports27112711271
Mortgage Bankers Financial Reporting Form24549800.50490
XI-6, XI-8, XI-9Soldiers' and Sailors' Quarterly Reimbursement Request and SSCRA Loan Eligibility Information681,24584,6600.0342,878.44
VI-2Form Letter for Loan Repurchase271122,3760.25594.00
III-21Certification Requirements for the Pooling of Multifamily Mature Loan Program751750.01661.25
VI-9Request for Reimbursement of Mortgage Insurance Claim Costs for Multifamily Loans201680.2517
VII-1Collection of Remaining Principal Balances271123,2520.0017,329
Data Verification Form27125420.0843
III-9Ginnie Mae Pool Issuance Correction Request Form41124920.01668.17
III-13Electronic Data Interchange System Agreement27112710.2567.75
III-14Enrollment Administrator Signatories for Issuers and Document Custodians27112710.2567.75
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Corporate Guaranty Agreement341340.258.50
I-4Cross Default Agreement711710.2517.75
VIII-2, VIII-3Transfer Agreements and Assignment Agreements791790.2519.75
VIII-2, VIII-3Transfer Agreements and Assignment Agreements791790.2519.75
VIII-1Acknowledgement Agreement and Accompanying Documents—Pledge of Servicing101101.0010
XI-2Supervisory Agreement10110110
Total1935,041,343100,642

Calculations

Total Annual Responses × Hours per Response = Total Annual Hours Estimated Cost to Respondents:

1. Mortgage industry employee salary: $25.00 per hour $25.00 × total Annual Hours = Cost Estimated Annual Cost to Government:

2. Ginnie Mae employee salary: $29.00 per hour $29.00 × Total Annual Hours = Cost.

3. Contractor expense is based on contract with Ginnie Mae.

Status of the proposed information collection: Extension/Modification of a currently approved collection.

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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: May 27, 2005.

Michael J. Frenz,

Executive Vice President, Government National Mortgage Association.

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[FR Doc. 05-11310 Filed 6-7-05; 8:45 am]

BILLING CODE 4210-66-M