Base Offering Circular - Single Family 19 with the yield to maturity that would result based on the price that the investor pays for the Securities and upon the investor’s own determinations about anticipated rates of prepayments, foreclosures, substitutions and cash payments by the Sponsor with respect to the Mortgage Loans. THE TRUSTS Certain Policies of the Trusts No Trust Agreement will authorize a Trust to engage in any activities other than the issuance of the related Securities (or Pooling REMIC Interests) and the purchase, servicing and disposition of the related Trust Assets and certain related activities.  Each Trust Agreement may be amended only as set forth below under “— Amendment.” Amendment Subject to the limitations set forth below, the Sponsor and the Trustee (with Ginnie Mae’s consent) may amend any Trust Agreement for any purpose, without the consent of any Holder, provided the Trustee receives an Opinion of Counsel to the effect that the proposed amendment will not result in a significant risk that any related Trust REMIC will lose its status as a REMIC.  For that purpose, a significant risk is a risk that would have prevented counsel from giving an unqualified opinion with respect to the REMIC status of any related Trust REMIC had such amendment been an original term of the Trust Agreement.  The Sponsor and the Trustee may not amend any Trust Agreement,  however,  if  the  effect  of  that  amendment  would  be  to  alter  the  timing  or  amount  of  any  required distribution  of  principal  or  interest  (including  distributions  made  pursuant  to  the  Ginnie  Mae  Guaranty)  to  any Holder, or the right of any Holder to institute suit for the enforcement of any payment, without the consent of each affected Holder. The Trustee The Trustee may resign at any time by giving written notice to Ginnie Mae.  Upon notice of the Trustee’s resignation, Ginnie Mae will appoint a successor Trustee.  Ginnie Mae also may remove the Trustee and appoint a successor if the Trustee breaches its obligations under the Trust Agreement, if the Trustee ceases to be eligible to continue  as  the  Trustee  under  the  related  Trust  Agreement  or  if  the  Trustee  becomes  incapable  of  acting,  or  is adjudged a bankrupt or becomes insolvent, or a receiver for the Trustee or its property is appointed, or any public officer takes control of the Trustee or its property for the purpose of rehabilitation, conservation or liquidation of that  property.    Any  resignation  or  removal  of  the  Trustee  and  appointment  of  a  successor  Trustee  will  become effective only upon the acceptance of the appointment by a successor Trustee. Tax Matters Person The Tax Administrator will serve as the agent for the Tax Matters Person of each related Trust REMIC.   Each  Holder  of  a  Residual  Security,  by  its  acquisition  of  such  Security,  consents  to  the  appointment  of  the  Tax Administrator as such agent on behalf of such Holder if that Holder would by virtue of its ownership percentage be treated as the Tax Matters Person for the related Trust REMIC.  No successor agent may be appointed without the consent of Ginnie Mae. Tax Administrator The  Tax  Administrator,  which  may  be  the  same  person  as  the  Trustee,  generally  is  responsible  for  the federal and state tax administration of the Trust and the related Trust REMIC or Trust REMICs.  Foremost among the  Tax  Administrator’s  duties  will  be  the  preparation  of  the  income  tax  returns  and  reports  of  the  Trust  and  the related Trust REMIC or Trust REMICs and the related underlying tax accounting.  Additional information about the duties and activities of the Tax Administrator is set forth in “Certain Federal Income Tax Consequences.”