A participant in the Ginnie Mae Multiclass Securities Program must comply with the following requirements:
Certification. A participant must complete the certification and agreement set out in the Ginnie Mae Multiclass Securities Guide Part 1.
Compliance with Ginnie Mae Multiclass Securities Guide. By completing a Ginnie Mae Multiclass Securities Program transaction, a participant is deemed to have complied with the Ginnie Mae Multiclass Securities Guide in effect as of the date that the Ginnie Mae Guaranty is placed on the securities.
Material changes in status. A participant must report material adverse changes in status, including voluntary and non-voluntary terminations, defaults, fines, and findings of material non-conformance with rules and policies of state and federal agencies and federal government-sponsored enterprises.
Integrity. A participant must conduct its business operations in accordance with industry practices, ethics and standards, and maintain its books and records in an appropriate manner, as determined by Ginnie Mae.