2011-13595. 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:

Comment Due Date: August 1, 2011.

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; e-mail [e-mail]; telephone [phone], 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; 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 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 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”).

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.

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, 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.

Form	Appendix No.	Title	Number of respondents	Frequency of responses per year	Total annual responses	Hours per response	Total annual hours
11700	II-1	Letter of Transmittal	210	4	840	0.033	27.7
11701	I-1	Application for Approval Ginnie Mae Mortgage-Backed Securities Issuer	100	1	100	1	100.0
11702	I-2	Resolution of Board of Directors and Certificate of Authorized Signatures	210	1	210	0.08	16.8
11704	II-2	Commitment to Guaranty Mortgage-Backed Securities	210	4	840	0.033	27.7
11707	III-1	Master Servicing Agreement	210	1	210	0.016	3.4
11709	III-2	Master Agreement for Servicer's Principal and Interest Custodial Account	210	1	210	0.033	6.9
11715	III-4	Master Custodial Agreement	210	1	210	0.033	6.9
11720	III-3	Master Agreement for Servicer's Escrow Custodial Account	210	1	210	0.033	6.9
11732	III-22	Custodian's Certification for Construction Securities	144	1	144	0.016	2.3
	IX-1	Financial Statements and Audit Reports	210	1	210	1	210.0
		Mortgage Bankers Financial Reporting Form	350	4	1400	0.5	700.0
11709-A	I-6	ACH Debit Authorization	210	1	210	0.033	6.9
11710 D	VI-5	Issuer's Monthly Summary Reports	210	12	2520	0.033	83.2
11710A, 1710B, 1710C &11710E	VI-12	Issuer's Monthly Accounting Report and Liquidation Schedule	110	1	110	0.5	55.0
		Data Verification Form	210	2	420	0.05	21.0
	III-13	Electronic Data Interchange System Agreement	40	1	40	0.166	6.6
	III-14	Enrollment Administrator Signatories for Issuers and Document Custodians	54	1	54	2	108.0
	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 Level Report (RFS)	210	12	2520	4.3	10836.0
The burden for the items listed below is based on volume and/or number of requests.
11705	III-6	Schedule of Subscribers and Ginnie Mae Guaranty Agreement	210	12	24800	0.0075	186.0
11706	III-7	Schedule of Pooled Mortgages	210	12	24800	0.0075	186.0
11708	V-5	Document Release Request	210	1	374	0.05	18.7
	XI-6, XI-8, XI-9	Soldiers' and Sailors' Quarterly Reimbursement Request and SSCRA Loan Eligibility Information	32	4	8000	0.033	1056.0
11711A and 11711B	III-5	Release of Security Interest and Certification and Agreement	210	1	24800	0.005	124.0
11714 and 11714SN	VI-10, VI-11	Issuer's Monthly Remittance Advice and Issuer's Monthly Serial Note Remittance Advice	210	12	56500	0.016	10848.0
	VI-2	Letter for Loan Repurchase	210	12	420	0.033	13.9
	VII-1	Collection of Remaining Principal Balances	210	12	344000	0.0125	51600.0
	III-21	Certification Requirements for the Pooling of Multifamily Mature Loan Program	11	1	11	0.05	0.6
	VI-9	Request for Reimbursement of Mortgage Insurance Claim Costs for Multifamily Loans	56	1	56	0.25	14.0
	VIII-3	Assignment Agreements	63	1	63	0.13	8.2
	III-9	Authorization to Accept Facsimile Signed Correction Request Forms	210	12	128	0.016	2.0
Total				Varies	495,260	Varies	76,493

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

Dated: May 25, 2011.

Mary K. Kinney,

Executive Vice President, Government National Mortgage Association.