Ginnie Mae is committed to providing greater transparency on the underlying collateral that backs Ginnie Mae guaranteed securities. In order for Ginnie Mae to further align its data disclosures with the industry, Ginnie Mae will begin collecting two additional single-family data elements.
Effective with January 1, 2015 issuances, and thereafter, Issuers will be required to provide the Loan Origination Date for all loans pooled, and the Applicable Look-back Period indicator for adjustable rate mortgage (ARM) loans only. The Loan Origination Date will be added at the end of the GinnieNET mortgage record layout M11, while the Applicable Look-Back Period indicator will be added at the end of the GinnieNET pool record layout P01 (See Attachment A). Beginning in late October or early November, Issuers will be able to test the new file layouts in GinnieNET. Ginnie Mae strongly encourages all Issuers to participate in testing to ensure that all issues are addressed prior to January 1, 2015. If you have any questions regarding testing of the new file layout, please call the GinnieNET Helpdesk at 1-800-234-4662, Option 1.
The applicable changes to Appendix III-7 (Form HUD 11706—Schedule of Pooled Mortgages) of the Ginnie Mae Mortgage Backed Securities Guide 5500.3, REV-1 (MBS Guide) are being posted to the “What’s New” section of Ginnie Mae’s website at www.ginniemae.gov, and will be officially incorporated into the MBS Guide on January 1, 2015. The revised GinnieNET file layouts will also be posted to Ginnie Mae’s website under Issuer Resources.
If you have any non-technical questions regarding this announcement, please contact your Ginnie Mae Account Executive in the Office of Issuer & Portfolio Management directly or at 202-708-1535.
Attachment:
Attachment A: Revised file layouts |