Notice2023-06462
30-Day Notice of Proposed Information Collection: Ginnie Mae Digital Collateral Program
Primary source
Metadata and text below are from the Federal Register, a public-domain U.S. government work. Always verify the official published version before relying on it for any legal matter.
Published
March 29, 2023
Issuing agencies
Housing and Urban Development Department
Abstract
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.
Full Text
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<title>Federal Register, Volume 88 Issue 60 (Wednesday, March 29, 2023)</title>
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[Federal Register Volume 88, Number 60 (Wednesday, March 29, 2023)]
[Notices]
[Pages 18571-18572]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2023-06462]
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DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT
[Docket No. FR-7070-N-16; OMB Control No. 2503-0034]
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.
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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 <a href="http://www.reginfo.gov/public/do/PRAMain">www.reginfo.gov/public/do/PRAMain</a>. 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
<a href="/cdn-cgi/l/email-protection#b6f7d8d8d798e698f1c3dfd2d9f6dec3d298d1d9c0"><span class="__cf_email__" data-cfemail="24654a4a450a740a63514d404b644c51400a434b52">[email protected]</span></a> or telephone 202-402-5535. 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: <a href="https://www.fcc.gov/consumers/guides/telecommunications-relay-service-trs">https://www.fcc.gov/consumers/guides/telecommunications-relay-service-trs</a>.
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.
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Burden hour Annual Hourly cost
Information collection Number of Frequency Responses per burden per Annual cost
respondents of response per annum response hours response *
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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
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Total.................................................... 325 1 325 1.05 27.5 38 1,045
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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.
[[Page 18572]]
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.
[FR Doc. 2023-06462 Filed 3-28-23; 8:45 am]
BILLING CODE 4210-67-P
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