Ginnie Mae is committed to enhancing disclosures on the HECM mortgage-backed securities (HMBS). In order for Ginnie Mae to provide more relevant information to industry, it plans to disclose loan-level HMBS data on information collected at pool issuance and monthly reporting. Therefore, effective with September 1, 2013 issuances, Ginnie Mae will require Issuers to provide additional data elements on single-family Home Equity Conversion Mortgages (HECM), where applicable. This information will be collected at issuance, via GinnieNET on the import file layout, and through the monthly pool & loan-level reporting.
A. Pooling Loans
Effective with September 1, 2013 issuances and thereafter, HMBS Issuers will be required to report additional data elements. The detailed file layout and new data elements are addressed in the revised Appendix III-28 of the Ginnie Mae Mortgage-Backed Securities Guide 5500.3, Rev. 1 (MBS Guide). The new data elements and file layouts are summarized in Attachment A to this memo. Beginning July 1, 2013, Issuers will be able to test the new file layout. If you have any questions regarding testing of the new file layout, please call the GinnieNET Helpdesk at 1-800-234-4662, (option 1).
B. Monthly Pool and Loan-Level Reporting
Effective with the September 2013 reporting period (September 2013 activity reported in October 2013), and thereafter, HMBS Issuers will be required to file monthly reports using the new file layout with the new data elements, as detailed in Appendix VI-17 of the MBS Guide. The new data elements and file layout for monthly reports are summarized in Attachment B. If you have any technical questions regarding the monthly pool and loan level reporting, please contact Bill Wenker at 202-240-4199, extension 301.
The revised Appendices III-28 and VI-17 of the MBS Guide are now available and will be officially incorporated into the MBS Guide on September 01, 2013.
If you have any non-technical questions regarding this announcement, please contact your Ginnie Mae Account Executive in the Office of Issuer & Portfolio Management at 202-708-1535.