Agency information collection activities; proposals, submissions, and approvals,

[Federal Register: August 25, 2003 (Volume 68, Number 164)]

[Notices]

[Page 51026-51028]

From the Federal Register Online via GPO Access [wais.access.gpo.gov]

[DOCID:fr25au03-51]

[[Page 51026]]

DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT

[Docket No. FR-4821-N-03]

Ginnie Mae Mortgage-Backed Securities Guide 5550.3, Revision 1 (Forms and Electronic Data Submissions); Notice of Proposed Information Collection: Comment Request

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: October 24, 2003.

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:

Sonya Suarez, Office of Program Operations, Department of Housing & Urban Development, 451-7th Street, SW, Room 6206, Washington, DC 20410.

FOR FURTHER INFORMATION CONTACT: Sonya Suarez, Ginnie Mae, (202) 708- 2884 (this is not a toll-free number) for copies of the proposed forms and other available documents.

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).

The 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 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: New Approval Number.

Description of the need for the information 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''). Any requirement in a document created under a Ginnie Mae MBS program is effective as of the date of the Guide, including amendments. Included in the Guide are Appendices. The Appendices include the forms or documents needed to comply with program requirements.

Agency form numbers, if applicable: 11700, 11702, 11704, 11707, 11710 A-E, 11714, 11714SN, 11705, 11706, 11708, 11709, 11709A, 11715, 11720, 11712-I, 11712-II, 11717, 11717-II, 1724, 11728, 11728-II, 1731, 1734, 11747, 11747-II and 11772-II, 11732, 11711A, 11711B, 11748C, and 11748A.

Members of affected public: For-profit business (mortgage companies, thrifts, savings & loans, etc.).

Estimation of the Total Number of Hours Needed To Prepare the Information Collection, Including Number of Respondents, Frequency of Response, and Hours of Response

Frequency of Form

Title

No. of

responses per Total annual

Hours per

Total annual respondents

year

responses

response

hours

11700............................. Letter of Transmittal

300

4

1,200

0.17

204 11702............................. Resolution of Board

300

1

300

0.17

51 of Directors and Certificate of Authorized Signatures. 11704............................. Commitment to

300

4

1,200

0.25

300 Guaranty Mortgage- Backed Securities. 11705............................. Schedule of

300

91.4

27,442

0.0166

456 Subscribers and Ginnie Mae Guaranty Agreement. 11706............................. Schedule of Pooled

300

91.4

27,442

0.0166

456 Mortgages. 11707............................. Master Servicing

300

1

300

0.17

51 Agreement. 11708............................. Document Release

300

10

3,000

0.2

600 Request.

[[Page 51027]]

11709............................. Master Agreement for

30

1

300

0.03

9 Servicer's Principal and Interest Custodial Account. 11715............................. Master Custodial

300

1

30

0.25

75 Agreement. 11720............................. Master Agreement for

300

1

300

0.2

60 Servicer's Escrow Custodial Account. 11732............................. Custodian's

250

1

250

0.0166

4 Certification for Construction Securities. 11709-A........................... ACH Debit

300

1

300

0.25

75 Authorization. 11710, A, B, C, and E............. Issuer's Monthly

300

17,513.57

5,254,071

0.0166

87,218 Accounting Reports. 11710 D........................... Issuer's Monthly

300

16.88

5,064

0.0166

84 Summary Reports. 11711A and 11711B................. Release of Security

300

91.4

27,442

0.0166

456 Interest and Certification and Agreement. 11712-I, 11712-II, 11717, 11717- Ginnie Mae I and II

300

91.4

27,442

0.25

6,861 II, 1724, 11728, 11728-II, 1731, Prospectus Forms. 1734, 11747, 11747-II and 11722- II. 11714 and 11714SN................. Issuer's Monthly

300

886.8

266,040

0.0166

4,416 Remittance Advice and Issuer's Monthly Serial Note Remittance Advice. 11714 A and C..................... Addendum to Monthly

300

8

2,406

0.0166

40 Accounting Report-- Adjustable Rate Mortgage Loan Package and Graduated Payment Mortgage or Growing Equity Mortgage Pool or Loan Package Composition. Monthly Loan Level

300

12

3,600

4

14,400 Reporting. Financial Statements

300

1

300

1

300 and Audit Reports. Mortgage Bankers

278

4

1,112

0.5

556 Financial Reporting Form. Soldiers' and

173

162

28,026

0.034

953 Sailors' Quarterly Reimbursement Request and SSCRA Loan Eligibility Information.

[[Page 51028]]

Form Letter for Loan

1,000

1

1,000

0.25

250 Repurchase. Certification

14

1

14

0.0166

0 Requirements for the Pooling of Multifamily Mature Loan Program. Request for

60

1

60

0.25

15 Reimbursement of Mortgage Insurance Claim Costs. Collection of

300

12

3,600

91.4

27,442 Remaining Principal Balances. Data Verification

300

2

600

0.08

48 Form. Electronic Data

300

1

300

0.25

75 Interchange System Agreement. Enrollment

300

1

300

0.25

75 Administrator Signatories for Issuers and Document Custodians. Corporate Agreement..

10

1

10

0.25

3 Cross Default

10

1

10

0.25

3 Agreement. Transfer Agreements

180

1

15

0.25

4 and Assignment Agreements. Pool Advance

10

1

10

0.25

3 Agreement. Excess Funds

10

1

10

0.25

3 Agreement. Acknowledgement

10

1

10

0.25

3 Agreement and Accompanying Documents--Pledge of Servicing. Supervisory agreement

10

1

10

0.25

3

Total....................... .....................

246 .................

5,683,879 .................

145,570

Calculations:

Total Annual Responses x Hours per Response = Total Annual Hours

Estimated Cost to Respondents:

1. Mortgage industry employee salary: $25.00 per hour

$25.00 x Total Annual Hours = Cost

Estimated Annual Cost to the Government:

1. Ginnie Mae employee salary: $29.00 per hour

$29.00 x Total Annual Hours = Cost

2. Contractor Expense is based on contract award

Status of the proposed information collection: New Collection.

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

Dated: August 19, 2003. George S. Anderson, Executive Vice President, Ginnie Mae.

[FR Doc. 03-21635 Filed 8-22-03; 8:45 am]

BILLING CODE 4210-66-M

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