Administration  Ginnie  Mae  2007-051.  The  Trustee  may  be  contacted  by  telephone  at (212) 515-5262 and by fax at (212) 509-1042. A fee will be payable to the Trustee in connection with each exchange equal to 1/32 of 1% of the outstanding principal balance of the Securities surrendered for exchange (but not less than $2,000 or more than $25,000). The fee must be paid concurrently with the exchange. The first distribution on a REMIC Security or an MX Security received in an exchange will be made on the Distribution Date in the month following the month of the exchange. The distribution  will  be  made  to  the  Holder  of  record  as  of  the  Record  Date  in  the  month  of exchange. See "Description of the Securities – Modification and Exchange" in the Base Offering Circular. YIELD, MATURITY AND PREPAYMENT CONSIDERATIONS General The prepayment experience of the Mortgage Loans underlying the Trust Assets will affect the Weighted Average Lives of and the yields realized by investors in the related Securities. •   The Mortgage Loans do not contain "due-on-sale" provisions, and any Mortgage Loan may be prepaid in full or in part at any time without penalty. •   The rate of payments (including prepayments and payments in respect of liquidations) on the Mortgage Loans is dependent on a variety of economic, geographic, social and other factors, including prevailing market interest rates and general economic factors. The  rate  of  prepayments  with  respect  to  single-family  mortgage  loans  has  fluctuated significantly in recent years. Although there is no assurance that prepayment patterns for the Mortgage Loans will conform to patterns for more traditional types of conventional fixed-rate mortgage loans, generally: •   if mortgage interest rates fall materially below the Mortgage Rates on any of the Mortgage Loans (giving consideration to the cost of refinancing), the rate of prepayment of those Mortgage Loans would be expected to increase; and •   if mortgage interest rates rise materially above the Mortgage Rates on any of the Mortgage Loans, the rate of prepayment of those Mortgage Loans would be expected to decrease. In addition, following any Mortgage Loan default and the subsequent liquidation of the underlying Mortgaged Property, the principal balance of the Mortgage Loan will be distributed through a combination of liquidation proceeds, advances from the related Ginnie Mae Issuer and, to the extent necessary, proceeds of Ginnie Mae's guaranty of the Ginnie Mae Certificates. As a result, defaults experienced on the Mortgage Loans will accelerate the distribution of principal of the Securities. Under  certain  circumstances,  the  Trustee  has  the  option  to  purchase  the  Trust  Assets, thereby  effecting  early  retirement  of  the  Securities.  See  "Description  of  the  Securities – Termination" in this Supplement. S-15