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Code · REGISTER · 2012-12-12 · Office of the Chief Information Officer, HUD · Notices

Notices. Notice

1,255 words·~6 min read·/register/2012/12/12/2012-29980·

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BILLING CODE 9111-14-P DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT [Docket No. FR-5603-N-90] 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 Chief Information Officer, 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. 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. DATES: *Comments Due Date:* January 11, 2013. ADDRESSES: Interested persons are invited to submit comments regarding this proposal. Comments should refer to the proposal by name and/or OMB Control Number (2503-0033) and should be sent to: HUD Desk Officer, Office of Management and Budget, New Executive Office Building, Washington, DC 20503; Email: *OIRA Submission @omb.eop.gov;* fax: 202-395-5806. FOR FURTHER INFORMATION CONTACT: Colette Pollard, Reports Management Officer, QDAM, Department of Housing and Urban Development, 451 7th Street SW., Washington, DC 20410; email *Colette.Pollard@hud.gov;* telephone
(202)402-3400. This is not a toll-free number. Copies of available documents submitted to OMB may be obtained from Ms. Pollard. SUPPLEMENTARY INFORMATION: This notice informs the public that the Department of Housing and Urban Development has submitted to OMB a request for approval of the Information collection described below. 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 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 Approved Number:* 2503-0033. *Form number:* HUD-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, 11715, 11720, 11732, 11785. *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. *While most of the calculations are based on the 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 0.0085 210.8 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 76,518 *Status:* Revision of a currently approved collection. Authority: Section 3507 of the Paperwork Reduction Act of 1995, 44 U.S.C. 35, as amended. Dated: December 5, 2012. Colette Pollard, Department Reports Management Officer, Office of the Chief Information Officer. [FR Doc. 2012-29980 Filed 12-11-12; 8:45 am]
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