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All Participant Memorandum (APM)
APM 15-19: New Timeframe for Submission of Custodial Account Verifications
Published Date: 12/3/2015

Ginnie Mae hereby announces that the timeframe for reporting quarterly Custodial Account Verifications (CAVs) is changing in connection with the implementation of streamlined investor reporting requirements. The timeframe for reporting CAVs will now be between the 6th business day and the 15th business day of the month, and is effective immediately. The next quarterly reporting of CAVs is due between December 8, 2015 and December 21, 2015, and must be submitted through the Ginnie Mae Enterprise Portal (GMEP).

Previously, quarterly CAVs were required to be reported through GinnieNET no later than the 10th calendar day of March, June, September, and December, but could be filed as early as the 1st calendar day of the respective month. Effective immediately, quarterly CAVs must be filed through GMEP between the 6th business day and the 15th business day of March, June, September and December. Any CAVs filed before the 6th business day of the month in which the reporting is due will not be accepted. Chapter 16 and Appendix VI-16 of the Mortgage-Backed Securities Guide, HUD Handbook 5500.3, Rev-1 (MBS Guide), have been updated in accordance with this APM.

As a reminder, GMEP will permit Issuers to submit the CAVs using one of two methods, direct online entry or file upload. Please see APM 15-15, Implementation of Streamlined Investor Reporting, for more details concerning the process and requirements for filing CAVs through GMEP.

Please direct any questions you may have to your Ginnie Mae Account Executive in the Office of Issuer and Portfolio Management directly or at (202) 708-1535.

Online Library Link: APM 15-19
Attachment(s):
APM_15-19.pdf    
Appendix_VI-16.pdf    
Chapter_16.pdf    
Last Modified: ["Modified" column value]