ment in any class will enable you to realize a desired yield on that investment. You will bear the market risks of your invest- ment.    The market values of the classes are likely to fluctuate. These fluctuations may be significant  and  could  result  in  significant losses to you. The secondary markets for mortgage-related securities  have  experienced  periods  of  illi- quidity and can be expected to do so in the future. Illiquidity can have a severely adverse effect on the prices of classes that are espe- cially sensitive to prepayment or interest rate risk or that have been structured to meet the investment  requirements  of  limited  catego- ries of investors. The residual securities may experience sig- nificant adverse tax timing consequences. Ac- cordingly,   you   are   urged   to   consult   tax advisors and to consider the after-tax effect of ownership of a residual security and the suit- ability of the residual securities to your in- vestment  objectives.  See  "Certain  Federal Income  Tax  Consequences"  in  this  supple- ment and in the base offering circular. You are encouraged to consult advisors re- garding  the  financial,  legal,  tax  and  other aspects  of  an  investment  in  the  securities. You  should  not  purchase  the  securities  of any class unless you understand and are able to bear the prepayment, yield, liquidity and market risks associated with that class. The actual characteristics of the underly- ing mortgage loans will affect the weighted average lives and yields of your securities. The yield and prepayment tables in this sup- plement are based on assumed characteris- tics which are likely to be different from the actual characteristics. As a result, the yields on your securities could be lower than you expected, even if the mortgage loans prepay at the constant prepayment rates set forth in the applicable table. It is highly unlikely that the underlying mort- gage loans will prepay at any of the prepay- ment rates assumed in this supplement, or at any constant prepayment rate. THE TRUST ASSETS General The Sponsor intends to acquire the Trust Assets in privately negotiated transactions prior to the Closing Date and to sell them to the Trust according to the terms of a Trust Agreement between  the  Sponsor  and  the  Trustee.  The  Sponsor  will  make  certain  representations  and warranties with respect to the Trust Assets. All Trust Assets will evidence, directly or indirectly, Ginnie Mae Certificates. The Trust MBS The Trust MBS are either: 1.  Ginnie Mae I MBS Certificates guaranteed by Ginnie Mae, or 2.  Ginnie Mae Platinum Certificates backed by Ginnie Mae I MBS Certificates and guaran- teed by Ginnie Mae. Each Mortgage Loan underlying a Ginnie Mae I MBS Certificate bears interest at a Mortgage Rate 0.50% per annum greater than the related Certificate Rate. The difference between the Mortgage Rate and the Certificate Rate is used to pay the related servicers of the Mortgage Loans a  monthly  servicing  fee  and  Ginnie  Mae  a  fee  for  its  guaranty  of  the  Ginnie  Mae  I  MBS Certificate of 0.44% per annum and 0.06% per annum, respectively, of the outstanding principal balance of the Mortgage Loan. S-8