The Mortgage Loans Each Ginnie Mae Multifamily Certificate represents a beneficial interest in one or more Mortgage Loans. Ninety-one (91) Mortgage Loans underlie the Group 1 Ginnie Mae Multifamily Certificates, which, as of the Closing Date, consist of 83 Mortgage Loans that underlie the Trust PLCs (the "Group 1 Trust PLC Mortgage Loans") and 8 Mortgage Loans that underlie the Trust CLCs (the "Group  1  Trust  CLC  Mortgage  Loans")  and  283  Mortgage  Loans  underlie  the  Group  2 Underlying Certificate Trust Assets, all of which are Trust PLCs. The  Group  1  Trust  PLC  Mortgage  Loans  have  an  aggregate  balance  of  approximately $261,420,489 as of the Cut-off Date (after giving effect to all payments of principal due on or before that date) and the Group 1 Trust CLC Mortgage Loans have an aggregate balance of approximately $33,052,054 as of the Cut-off Date (after giving effect to all payments of principal due on or before that date). The Mortgage Loans underlying the Group 2 Underlying Certificate Trust Assets have an aggregate balance of approximately $1,316,146,014 as of the Cut-off Date (after giving effect to all payments of principal due on or before that date). The Group 1 Mortgage Loans have, on a weighted average basis, the other characteristics set  forth  in  the  Terms  Sheet  under  "Certain  Characteristics  of  the  Ginnie  Mae  Multifamily Certificates and the Related Mortgage Loans Underlying the Group 1 Trust Assets" and, on an individual basis, in the case of the Group 1 Securities, the characteristics described in Exhibit A to this Supplement and, in the case of the Group 2 Securities, the characteristics described in the Updated Exhibits A in Exhibit D of this Supplement. They also have the general characteris- tics described below. The Mortgage Loans consist of first lien and second lien, multifamily, fixed rate mortgage loans that are secured by a lien on the borrower's fee simple estate in a multifamily property consisting of five or more dwelling units or nursing facilities and insured by  FHA  or  coinsured  by  FHA  and  the  related  mortgage  lender.  See  "The  Ginnie  Mae Multifamily Certificates – General" in the Multifamily Base Offering Circular. FHA Insurance Programs FHA multifamily insurance programs generally are designed to assist private and public mortgagors in obtaining financing for the construction, purchase or rehabilitation of multifam- ily housing pursuant to the National Housing Act of 1934 (the "Housing Act"). Mortgage Loans are provided by FHA approved institutions, which include mortgage banks, commercial banks, savings and loan associations, trust companies, insurance companies, pension funds, state and local housing finance agencies and certain other approved entities. Mortgage Loans insured under the programs described below will have such maturities and amortization features as FHA may approve, provided that generally the minimum mortgage loan term will be at least ten years and the maximum mortgage loan term will not exceed the lesser of 40 years and 75 percent of the estimated remaining economic life of the improvements on the mortgaged property. Tenant eligibility for FHA insured projects generally is not restricted by income, except for projects as to which rental subsidies are made available with respect to some or all the units therein or to specified tenants. The  following  is  a  summary  of  the  various  FHA  insurance  programs  under  which  the Mortgage Loans underlying the Group 1 Ginnie Mae Multifamily Certificates are insured. S-15