The Government National Mortgage Association (Ginnie Mae), in conjunction with the Government Sponsored Enterprises (GSEs), is updating its financial reporting requirements. Issuers that are not regulated or supervised by the Federal Deposit Insurance Corporation (FDIC), the National Credit Union Administration (NCUA), or the U.S. Comptroller of the Currency (OCC) and have outstanding Ginnie Mae guaranteed mortgage-backed securities exceeding $50 Billion or Issuers so directed by Ginnie Mae in its sole discretion must provide Ginnie Mae with an unaudited monthly financial reporting form. This reporting form must be submitted on a Web-based Monthly Mortgage Bankers Financial Reporting Form (MBFRF) Short Form (“Monthly MBFRF Short Form”). For each monthly MBFRF submission, the Issuer must identify the certifier by name. The Issuer’s certifier must be the chief executive officer, chief financial officer or equivalent.
Upon Ginnie Mae’s request, Issuers must also provide a signed letter that states the following: “I, the undersigned, certify that I am the CEO, CFO or equivalent of [Ginnie Mae Issuer name] and that the information contained in the [Month] Mortgage Bankers’ Financial Reporting Form Short Form is true and accurate to the best of my knowledge and belief, and that the unaudited financial summary was prepared in accordance with GAAP.” The officer completing the certification for any Ginnie Mae Issuer must also be listed on the Issuer’s Form HUD 11702, Resolution of Board of Directors and Certificate of Authorized Signatures that is in effect as of the date of the certification.
To obtain access to the Web-based MBFRF Short Form (Web MB), please send an e-mail to administrator@mbfrf.org. The MBFRF Short Form requirement will be effective beginning for the month of April 2024 and will be required for the months of April, May, July, August, October, November, January and February. MBFRF Short Form submissions will be due no later than the last day of the following month (April 2024 MBFRF Short Form submission due May 31, 2024). The statements must be sent via Web MB (www.mbfrf.org/). Where requirements conflict between the Ginnie Mae MBS Guide and the HUD OIG Audit Guide, the Ginnie Mae MBS Guide governs.
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