[Federal Register Volume 79, Number 217 (Monday, November 10, 2014)]
[Notices]
[Pages 66736-66739]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2014-26647]


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DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT

[Docket No. FR-5755-N-01]


60-Day 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.

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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: February 9, 2015.

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; email 
<a href="/cdn-cgi/l/email-protection#3a7955565f4e4e5f146a5556565b485e7a524f5e145d554c"><span class="__cf_email__" data-cfemail="eead81828b9a9a8bc0be8182828f9c8aae869b8ac0898198">[email protected]</span></a>; telephone (202) 708-0306, 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; email--
<a href="/cdn-cgi/l/email-protection" class="__cf_email__" data-cfemail="fbbf9e99899ad5b7d5b68e898b9382bb938e9fd59c948d">[email protected]</a>; telephone--(202) 475-4923; fax--(202) 485-0225 
(this is not a toll-free number); Merlene Hawkins, Ginnie Mae, 451 7th 
Street SW., Room B-133, Washington, DC 20410; email--
<a href="/cdn-cgi/l/email-protection" class="__cf_email__" data-cfemail="3a775f48565f545f14725b4d515354497a524f5e145d554c">[email protected]</a>; telephone--(202) 475-4916; fax--(202) 485-0225

[[Page 66737]]

(this is not a toll-free number); or the Ginnie Mae Web site at 
www.ginniemae.gov for other available information.

SUPPLEMENTARY INFORMATION: The Department will submit the proposed 
information collection to OMB for review 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'').
    Description of Proposed New Requirements:
    Due to the acceleration of non-depository issuers entering in the 
Ginnie Mae program, regulatory changes and changes to the insuring/
guarantying agencies programs, Ginnie Mae is expanding its data 
collection and disclosure processes.
    ARM Pools:
    In order to verify that loans backing Ginnie Mae ARM pools meet the 
new 45 day look back period, Ginnie Mae will be collecting two new data 
elements. One new data element will be completed on the HUD Form 11705 
at issuance. This will be a look-back period data element which will be 
a drop down selection of either 30 days or 45 days. The second new data 
will be completed on the HUD Form 11706 for ARMS pools only at this 
time. This will be the loan origination date (name will be changed to 
Note Date at a later time).
    MISMO:
    Ginnie Mae is implementing a new pool delivery data set using MISMO 
standard data definitions with respect to Single Family Issuances. This 
will include the addition of 16 new data points, of which three will be 
required, three will be conditionally required and the remaining eleven 
will be optional. The data points are as follows:

Required New Data Points:
    Construction Method Typ.. MH), Amortization Type & Note Date (name 
changed from loan origination date and will be for all pools).
Conditionally Required New Data Points:
    Down Payment Amount, Loan Modification Effective Date & Suffix Name
Optional New Data Points:
    Construction Method Type (other than MH), Property Valuation 
Amount, Property Valuation Effective Date, Purchase Price Amount, 
Guaranty Amount (if VA), Guaranty Percent (if VA), Middle Name, Full 
Name, Curtailment Data Points (Monetary Event Applied Date, Monetary 
Event Gross Principal Amount & Monetary Event Type).

    Loan Level:
    Ginnie Mae is proposing the collection of additional data elements 
at the loan level to supplement the monthly reporting collection of 
data. The additional data elements are being added to provide Ginnie 
Mae greater oversight of its program participants and will be collected 
as part of the monthly reporting submission. The proposed additional 
new data elements are as follows:
    Bankruptcy Action Type, Bankruptcy Case Identifier, Bankruptcy 
Chapter Type, Bar Date, Bar Date, Borrower Bankruptcy Indicator, 
Borrower Classification Type, Borrower Total Mortgaged Properties 
Count, Counseling Initiated Indicator, Credit Score Date, Document 
Custodian ID, Insurance Claim Coverage Type, Investor UPB, Adjustment 
to Investor UPB, Prospective Note Rate, Prospective P&I (FIC), 
Effective Date of Rate Change, Lien Holder Type, Net Note Rate, 
Servicer Transfer Effective Date, Servicer Type, Loan P&I Institution 
ID and Account Number, Loan Ti(Institution ID and Account Number, Sub-
Servicer ID, Sub & Servicer Rights Type and Total Subordinate Financing 
Amount.
    New Issuer Applications:
    Ginnie has automated its new issuer the application process used to 
approval. The new automated process requires applicants to complete two 
online courses through Ginnie Mae Online University.
    HMBS:
    Ginnie Mae will be expanding its data collection at issuance in 
order to enhance data disclosures.
    The addition of the new data elements are the reason for the 
increase of burden hours. Please see the below link for more 
information regarding the additional data elements. http://www.ginniemae.gov/products programs/Pages/Federal Register Notice.aspx
    There are 15 forms and appendices in our collection which are 
volume driven rather than participant driven: These have increased as 
our portfolio has grown.
    Included in the Guide are the appendices, forms, and documents 
necessary for Ginnie Mae to properly administer its MBS programs.
    Agency form numbers: 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.

[[Page 66738]]



 
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                                                                                                       Frequency
                                              Appendix                                    Number of        of         Total      Hours per      Total
                   Form                         No.                   Title              respondents   responses      annual      response      annual
                                                                                                        per year    responses                   hours
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11700.....................................         11-1  Letter of Transmittal.........          329            4         1200        0.033         43.4
11701.....................................          1-1  Application for Approval                100            1          100           .3        300.0
                                                          Ginnie Mae Mortgage-Backed
                                                          Securities Issuer.
11702.....................................          1-2  Resolution of Board of                  454            1          454         0.08         36.3
                                                          Directors and Certificate of
                                                          Authorized Signatures.
11703-....................................          1-7  Master Agreement for                     14            1           14         0.08          1.1
                                                          Participation Accounting.
11704.....................................         11-2  Commitment to Guaranty                  329            4         1316        0.033         43.4
                                                          Mortgage-Backed Securities.
11707.....................................        111-1  Master Servicing Agreement....          468            1          468        0.033         15.4
11709.....................................        111-2  Master Agreement for                    468            1          468        0.033         15.4
                                                          Servicer's Principal and
                                                          Interest Custodial Account.
11715.....................................        111-4  Master Custodial Agreement....          468            1          468        0.033         15.4
11720.....................................        111-3  Master Agreement for                    468            1          468        0.033         15.4
                                                          Servicer's Escrow Custodial
                                                          Account.
11732.....................................       111-22  Custodian's Certification for            55            1           55        0.016          0.9
                                                          Construction Securities.
                                                   IX-1  Financial Statements and Audit          468            1          468            1        468 0
                                                          Reports.
                                            ...........  Mortgage Bankers Financial              315            4         1260          0.5        630.0
                                                          Reporting Form.
11709-A...................................          1-6  ACH Debit Authorization.......          468            1          468        0.033         15.4
11710 D...................................         VI-5  Issuer's Monthly Summary                315           12         3780         0.13        491.4
                                                          Reports.
11710A, 1710B, 1710C & 11710E.............        VI-12  Issuer's Monthly Accounting             315            1          315         0.13         41.0
                                                          Report and Liquidation
                                                          Schedule.
11710-DH..................................        VI-21  HMBS Issuer's Monthly Summary            14           12          168         0.13         21.8
                                                          Report.
                                                 111-13  Electronic Data Interchange             100            1          100            1        100.0
                                                          System Agreement.
                                                 111-14  Enrollment Administrator                100            1          100            1        100.0
                                                          Signatories for Issuers and
                                                          Document Custodians.
                                                    1-4  Cross Default Agreement.......           10            1           10         0.05          0.5
                                                  VI-18  WHFIT Reporting...............          329            4         1316         0.13        171.0
                                                 111-29  Enterprise Portal (GMEP)......          100            1          100            1        100.0
                                                         Registration Forms............
                                                 VIII-1  Ginnie Mae Acknowledgement               10            1           10            1           10
                                                          Agreement and Accompanying
                                                          Documents Pledge of Servicing.
                                                  VI-19  Monthly Pool and Loan Level             300           12         3600         0.13        468.0
                                                          Report (RFS).
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                                   The burden for the Items listed below is based on volume and/or number of requests.
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11705.....................................        111-6  Schedule of Subscribers and             315           12        42000         0.05       2100.0
                                                          Ginnie Mae Guaranty Agreement.
11706.....................................        111-7  Schedule of Pooled Mortgages..          315           12        42000         0 08      97440.0
11705H....................................       111-28  Schedule of Subscribers and              14           12          960         0.05           48
                                                          Ginnie Mae Guaranty
                                                          Agreement--HMBS Pooling-
                                                          Import File Layout.
11708.....................................          V-5  Document Release..............          329            1          329         0.05         16.5
                                            XI-6, XI-8,  Soldiers' and Sailors'                   32            4         8000        0.033       1056.0
                                                   XI-9   Quarterly Reimbursement
                                                          Request and SSCRA Loan
                                                          Eligibility Information.
11711A and 11711B.........................        111-5  Release of Security Interest            329            1       678000         0.05      33900.0
                                                          and Certification and
                                                          Agreement.
11714 and 11714SN.........................   VI-10, VI-  Issuer's Monthly Remittance             329           12        56400        0.016      10828.8
                                                     11   Advice and Issuer's Monthly
                                                          Serial Note Remittance Advice.
                                                   VI-2  Letter for Loan Repurchase....          315           12          600        0.033        237.6
                                                  V11-1  Collection of Remaining                 315           12      4800000        0.033     158400.0
                                                          Principal Balances.
                                                 111-21  Certification Requirements for          298            1        29811         0.05         14.9
                                                          the Pooling of Multifamily
                                                          Mature Loan Program.
                                                   VI-9  Request for Reimbursement of             21            1           21         0.25          5.3
                                                          Mortgage Insurance Claim
                                                          Costs for Multifamily.
                                                 VIII-3  Assignment Agreements.........           67            1           67         0.13          8.7
                                                  111-9  Authorization to Accept                 329           12          128        0.016          2.0
                                                          Facsimile Signed Correction
                                                          Request Forms.
                                                  VI-17  HMBS Issuer Specification for      (\1\) 14           12       38,400         0.13       4992.0
                                                          MBSAA.
                                                                                        ----------------------------------------------------------------
    Total.................................  ...........  ..............................  ...........        (\2\)   10,481,385        (\2\)    2,617,654
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\1\ Pooling & Report.
\2\ Varies.



[[Page 66739]]

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

    Dated: October 23, 2014.
Mary K. Kinney,
Executive Vice President, Government National Mortgage Association.
[FR Doc. 2014-26647 Filed 11-7-14; 8:45 am]
BILLING CODE 4210-67-P


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