2023-06462. 30-Day Notice of Proposed Information Collection: Ginnie Mae Digital Collateral Program

AGENCY:

Office of Policy Development and Research, Chief Data Officer, HUD.

ACTION:

Notice.

SUMMARY:

HUD is seeking approval from the Office of Management and Budget (OMB) for the information collection described below. In accordance with the Paperwork Reduction Act, HUD is requesting comment from all interested parties on the proposed collection of information. The purpose of this notice is to allow for an additional 30 days of public comment.

DATES:

Comments Due Date: April 28, 2023.

ADDRESSES:

Interested persons are invited to submit comments regarding this proposal. Written comments and recommendations for the proposed information collection should be sent within 30 days of publication of this notice to www.reginfo.gov/​public/​do/​PRAMain. Find this particular information collection by selecting “Currently under 30-day Review—Open for Public Comments” or by using the search function.

FOR FURTHER INFORMATION CONTACT:

Anna P. Guido, Reports Management Officer, REE, Department of Housing and Urban Development, 451 7th Street SW, Washington, DC 20410; email Anna P. Guido at [e-mail] or telephone [phone]. This is not a toll-free number, HUD welcomes and is prepared to receive calls from individuals who are deaf or hard of hearing, as well as individuals with speech or communication disabilities. To learn more about how to make an accessible telephone call, please visit: https://www.fcc.gov/​consumers/​guides/​telecommunications-relay-service-trs.

Copies of available documents submitted to OMB may be obtained from Ms. Guido.

SUPPLEMENTARY INFORMATION:

This notice informs the public that HUD is seeking approval from OMB for the information collection described in Section A.

The Federal Register notice that solicited public comment on the information collection for a period of 60 days was published on January 26, 2023, at 88 FR 5034.

A. Overview of Information Collection

Title of Information Collection: Ginnie Mae Digital Collateral Program.

OMB Approval Number: 2503-0034.

Type of Request: Reinstatement.

Form Number: HUD-11701A; HUD-11701B; HUD-11708-SI.

Description of the need for the information and proposed use: Adapting to the needs of the industry, Ginnie Mae is permitting the securitization of mortgage loans where the note is an eligible eNote. The forms in this request are new forms that are necessary due to the unique requirements of managing eNotes and eMortgages. This collection permits Ginnie Mae to verify: (1) that eIssuers and eMortgages have the specialized knowledge and experience to participate; (2) that eIssuers and eCustodians have the technological capability to service eMortgages and safeguard eMortgage documents; (3) the name and location of the entities responsible for the various Ginnie Mae accounts and eMortgage documents, and (4) those entities that are responsible for servicing the eMortgages that back the Ginnie Mae pools. Ginnie Mae needs this information to mitigate risk and evaluate its business operations, procedures and programs, and assist lenders in processing borrower requests more efficiently. Ginnie Mae also requires the collection of information to ensure that there are no deficiencies, which could affect the pass through of securities to its investors.

Based upon feedback received about the eIssuer Application form (HUD-11701A), we have revised the instructions. The only revision is to the form's instructions which now address subservicing by the eIssuer Applicant.

Information collection	Number of respondents	Frequency of response	Responses per annum	Burden hour per response	Annual burden hours	Hourly cost per response *	Annual cost
eIssuer Application (HUD11701-A)	20	1	20	.5	10	$38	$380
eCustodian Application (HUD 11701-B)	5	1	5	.5	2.5	38	95
Request for Release of Secured Party (HUD 11708-SI)	300	1	300	.05	15	38	570
Total	325	1	325	1.05	27.5	38	1,045

B. Solicitation of Public Comment

This notice is soliciting comments from members of the public and affected parties concerning the collection of information described in Section A on the following:

(1) 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) The accuracy of the agency's estimate of the burden of the proposed collection of information;

(3) Ways to enhance the quality, utility, and clarity of the information to be collected; and

(4) Ways to 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.

(5) ways to minimize the burden of the collection of information on those who are to respond, including the use of automated collection techniques or other forms of information technology.

HUD encourages interested parties to submit comment in response to these questions.

C. Authority

Section 3507 of the Paperwork Reduction Act of 1995, 44 U.S.C. Chapter 35.

Anna P. Guido,

Department Reports Management Office, Office of Policy Development and Research, Chief Data Officer.