05-11310. 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: 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: [phone]; e-mail [e-mail].

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) 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 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, 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 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

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	160	4	640	0.17	109
11701	I-1	Application for Approval FHA Lender and/or Ginnie Mae Mortgage-Backed Securities Issuer	16	1	16	1.50	24
11702	I-2	Resolution of Board of Directors and Certificate of Authorized Signatures	271	1	271	0.17	46
11704	II-2	Commitment to Guaranty Mortgage-Backed Securities	160	4	640	0.25	160
11705	III-6	Schedule of Subscribers and Ginnie Mae Guaranty Agreement	271	12	24,144	0.0166	401
11706	III-7	Schedule of Pooled Mortgages	271	12	24,144	0.0166	401
11707	III-1	Master Servicing Agreement	271	1	271	0.17	46
11708	V-5	Document Release Request	271	10	2,710	0.2	1,843
11709	III-2	Master Agreement for Servicer's Principal and Interest Custodial Account	271	1	271	0.03	8
11709-A	I-6	ACH Debit Authorization	271	1	271	0.25	68
11710A, 1710B, 1710C and 11710E	VI-4, VI-12, VI-13	Issuer's Monthly Accounting Report and Liquidation Schedule	271	12	4,728,000	0.0166	78,485
11710D	VI-5	Issuer's Monthly Summary Reports	271	12	4,920	0.0166	81.67
1171A and 11711B	III-5	Release of Security Interest and Certification and Agreement	271	12	24,144	0.0166	400.79
11712, 11712-II, 11717, 11717-II, 1724, 11728, 11728-II, 1724, 11728, 11728-II, 1731, 1734, 11747, 11747-II and 11772-II	IV-6, IV-23, IV-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	271	12	24,144	0.0166	401
11714 and 11714SN	VI-10, VI-11	Issuer's Monthly Remittance Advice and Issuer's Monthly Serial Note Remittance Advice	271	398	107,858	0.0166	1,790.44
11715	III-4	Master Custodial Agreement	271	1	271	0.25	67.75
11720	III-3	Master Agreement for Servicer's Escrow Custodial Account	271	1	271	0.25	67.75
11732	III-22	Custodian's Certification for Construction Securities	75	1	75	0.0166	1.25
11749 A and 11748 C	VI-6, VI-16	Addendum to Monthly Accounting Report—Adjustable Rate Mortgage Loan Package	196	8	1,568	0.0166	26.03
		Monthly Loan Level Reporting	271	12	3,252	4	13,008
	IX-1	Financial Statements and Audit Reports	271	1	271	1	271
		Mortgage Bankers Financial Reporting Form	245	4	980	0.50	490
	XI-6, XI-8, XI-9	Soldiers' and Sailors' Quarterly Reimbursement Request and SSCRA Loan Eligibility Information	68	1,245	84,660	0.034	2,878.44
	VI-2	Form Letter for Loan Repurchase	271	12	2,376	0.25	594.00
	III-21	Certification Requirements for the Pooling of Multifamily Mature Loan Program	75	1	75	0.0166	1.25
	VI-9	Request for Reimbursement of Mortgage Insurance Claim Costs for Multifamily Loans	20	1	68	0.25	17
	VII-1	Collection of Remaining Principal Balances	271	12	3,252	0.001	7,329
		Data Verification Form	271	2	542	0.08	43
	III-9	Ginnie Mae Pool Issuance Correction Request Form	41	12	492	0.0166	8.17
	III-13	Electronic Data Interchange System Agreement	271	1	271	0.25	67.75
	III-14	Enrollment Administrator Signatories for Issuers and Document Custodians	271	1	271	0.25	67.75
		Corporate Guaranty Agreement	34	1	34	0.25	8.50
	I-4	Cross Default Agreement	71	1	71	0.25	17.75
	VIII-2, VIII-3	Transfer Agreements and Assignment Agreements	79	1	79	0.25	19.75
	VIII-2, VIII-3	Transfer Agreements and Assignment Agreements	79	1	79	0.25	19.75
	VIII-1	Acknowledgement Agreement and Accompanying Documents—Pledge of Servicing	10	1	10	1.00	10
	XI-2	Supervisory Agreement	10	1	10	1	10
Total			193		5,041,343		100,642

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.

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

Dated: May 27, 2005.

Michael J. Frenz,

Executive Vice President, Government National Mortgage Association.