E6-17288. 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.

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: December 18, 2006.

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: Lillian Deitzer, QDAM, Information Reports Management Officer, Department of Housing and Urban Development, 451 7th Street, SW., L'Enfant Plaza Building, Room 800a, Washington, DC 20410; fax—[phone]; e-mail—[e-mail]; telephone—[phone] (this is not a toll-free number).

FOR FURTHER INFORMATION CONTACT:

Debra Murphy, Ginnie Mae, 451 7th Street, SW., Room B-133, Washington, DC 20410; e-mail—[e-mail]; telephone—[phone]; fax—[phone] (this is not a toll-free number); Victoria Vargas, Ginnie Mae, 451 7th Street, SW., Room B-133, Washington, DC 20410; e-mail—[e-mail]; telephone—[phone]; fax—[phone] (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.

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 reflects the change in burden hours due to Ginnie Mae consolidating its data collection process for program participants and due to an increase in data reporting requirements as it relates to Ginnie Mae's proposed Home Equity Conversion Mortgages security.

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”). 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 appendices, forms, and documents necessary 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, 11710A, 1710-B, 1710-C, 11710D, 11710E, 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, 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:

Form	Appendix No.	Title	No. of respondents	Frequency of responses per year	Total annual responses	Hours per response	Total annual hours
11700	II-1	Letter of Transmittal	160	4	640	0.033	21
11701	I-1	Application for Approval FHA Lender and/or Ginnie Mae Mortgage-Backed Securities Issuer	16	1	16	1.000	16
11702	I-2	Resolution of Board of Directors and Certificate of Authorized Signatures	250	1	250	0.080	20
11704	II-2	Commitment to Guaranty Mortgage-Backed Securities	160	4	640	0.033	21
11705	III-6	Schedule of Subscribers and Ginnie Mae Guaranty Agreement	250	1	2,012	0.005	10
11706	III-7	Schedule of Pooled Mortgages	250	1	2,012	0.0075	15
11707	III-1	Master Servicing Agreement	250	1	250	0.016	4
11708	V-5	Document Release Request	250	34	8,500	0.050	425
11709	III-2	Master Agreement for Servicer's Principal and Interest Custodial Account	250	1	250	0.033	8
11709-A	I-6	ACH Debit Authorization	250	1	250	0.033	8
11710A, 1710B, 1710C & 11710E	VI-12	Issuer's Monthly Accounting Report and Liquidation Schedule	95	1	95	0.500	48
11710 D	VI-5	Issuer's Monthly Summary Reports	95	1	95	0.250	24
11711A and 11711B	III-5	Release of Security Interest and Certification and Agreement	250	12	24144	0.005	121
11712, 11712-II, 11717, 11717-II, 1724, 11728, 11728-II, 1731, 1734, 11747, 11747-II, and 11772-II	IV-6, IV-23, V-4, IV-20, IV-8, IV-24, IV-5, IV-22, IV-21, IV-9, IV-10, IV-7	Ginnie Mae I and II Prospectus Forms	250	12	24,144	0.133	3,211
11714 and 11714SN	VI-10, VI-11	Issuer's Monthly Remittance Advice and Issuer's Monthly Serial Note Remittance Advice	250	379	94,750	0.016	1,516
11715	III-4	Master Custodial Agreement	250	1	250	0.033	8
11720	III-3	Master Agreement for Servicer's Escrow Custodial Account	250	1	250	0.033	8
11732	III-22	Custodian's Certification for Construction Securities	75	1	75	0.016	1
11748 A	VI-6	Graduated Payment Mortgage or Growing Equity Mortgage Pool or Loan Package Composition	46	8	368	0.016	6
	IX-1	Financial Statements and Audit Reports	250	1	250	1.000	250
		Mortgage Bankers Financial Reporting Form	245	4	980	0.500	490
	XI-6, XI-8, XI-9	Soldiers' and Sailors' Quarterly Reimbursement Request and SSCRA Loan Eligibility Information	68	1,245	84,660	0.033	2,794
	VI-2	Letter for Loan Repurchase	250	12	2,376	0.030	71
	III-21	Certification Requirements for the Pooling of Multifamily Mature Loan Program	75	1	75	0.050	4
	VI-9	Request for Reimbursement of Mortgage Insurance Claim Costs for Multifamily Loans	20	1	68	0.250	17
	VII-1	Collection of Remaining Principal Balances	250	12	7,328,856	0.004	29,315
		Data Verification Form	250	2	500	0.050	25
	III-9	Authorization to Accept Facsimile Signed Correction Request Forms	41	12	492	0.016	8
	III-13	Electronic Data Interchange System Agreement	250	1	250	0.166	42
	III-14	Enrollment Administrator Signatories for Issuers and Document Custodians	250	1	250	0.100	25
		Corporate Guaranty Agreement	34	1	34	0.050	2
	I-4	Cross Default Agreement	71	1	71	0.050	4
	VIII-2	Transfer Agreements	10	1	10	0.080	1
	VIII-3	Assignment Agreements	79	1	10	0.130	1
	VIII-1	Acknowledgement Agreement and Accompanying Documents—Pledge of Servicing	10	1	10	0.083	1
	XI-2	Supervisory Agreement	10	1	10	0.080	1
		Ginnie Mae Reporting and Feedback Data Collection	250	12	3,000	4.304	12,912
Total			250	Varies	7,577,804	Varies	38,541

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

Dated: October 11, 2006.

Michael J. Frenz,

Executive Vice President, Government National Mortgage Association.