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View ICR - OIRA Conclusion

OMB Control No: 2503-0034	ICR Reference No: 202205-2503-001
Status: Historical Active	Previous ICR Reference No:
Agency/Subagency: HUD/GNMA	Agency Tracking No:
Title: Ginnie Mae Digital Collateral Program
Type of Information Collection: New collection (Request for a new OMB Control Number)	Common Form ICR: No
Type of Review Request: Emergency	Approval Requested By: 06/01/2022
OIRA Conclusion Action: Approved without change	Conclusion Date: 08/15/2022
	Date Received in OIRA: 05/19/2022
Terms of Clearance: Collection is approved but agency must follow normal clearance procedures before the collection expires in 6 months.

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	02/28/2023	6 Months From Approved
Responses	325	0	0
Time Burden (Hours)	28	0	0
Cost Burden (Dollars)	0	0	0

ICR Summary of Burden

	Total Approved	Change Due to Agency Discretion
Annual Number of Responses	325	325
Annual Time Burden (Hours)	28	28
Annual Cost Burden (Dollars)	0	0

Burden increases because of Program Change due to Agency Discretion: Yes

Burden Increase Due to: Miscellaneous Actions

Burden decreases because of Program Change due to Agency Discretion: No

Burden Reduction Due to:

Short Statement: Emergency request - Recent market developments, especially increased volatility, has accelerated the need to exit the pilot phase and expand the eIssuer program. Mortgage Servicing Rights that stem from Ginnie Mae MBS backed by pools of eligible mortgage loans, comprise the largest assets on Issuer (servicer) balance sheets. Issuers buy and sell MSRs to manage their financial and business conditions, and a consistent and liquid market is needed to do so effectively. The current ability to issue MBS backed by eMortgages and hold MSRs derived from those MBS is limited to a few pilot participants, which severely constricts liquidity for MSRs and limits opportunities for borrowers. Ensuring that the market for Ginnie Mae MSRs remains robust and liquid is critically important to managing risk to Ginnie Mae. If an Issuer cannot sell or buy MSRs when needed, it could lead to default, which will expose Ginnie Mae to losses.

Annual Cost to Federal Government:

Does this IC contain surveys, censuses, or employ statistical methods? No

Does this ICR request any personally identifiable information (see OMB Circular No. A-130 for an explanation of this term)? Please consult with your agency's privacy program when making this determination. Yes

Does this ICR include a form that requires a Privacy Act Statement (see 5 U.S.C. §552a(e)(3))? Please consult with your agency's privacy program when making this determination. Yes

Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]? No

Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]? No

Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)? No

Is this ICR related to the Pandemic Response? No

Agency Contact: Stephanie Schader 303 672-5269

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