Base Offering Circular – Multifamily 7 the Class Factors will be distributed to Holders of Securities on the applicable Distribution Date, whether or not those amounts are actually received on the Trust MBS. Each Class Factor is the factor (carried to eight decimal places) that, when multiplied by the Original Class Principal Balance (or the original Class Notional Balance) of the related Class, determines the Class Principal Balance (or Class Notional Balance) of that Class after giving effect to the distribution of principal to be made on the Securities (and any addition to the Class Principal Balance of any Accrual Class or Partial Accrual Class) on the related Distribution Date.   The Information Agent identified in the Offering Circular Supplement will post the Class Factors, along with the Interest Rate for each Class, on e-Access. For any Distribution Date, investors can calculate the amount of principal to be distributed on any Class (other than an Accrual Class or Partial Accrual Class) by multiplying the Original Class Principal Balance of that Class by the difference between its Class Factors for the preceding and current months.  The amount of interest to be distributed on any Class (other than an Accrual Class or Partial Accrual Class) on each Distribution Date will equal 30 days’ interest at the Interest Rate for that Class on its Class Principal Balance (or Class Notional Balance) as determined by its Class Factor for the preceding month.  Based on the Class Factors and Interest Rates published each month, investors in an Accrual Class or Partial Accrual Class can calculate the total amount of principal and interest to be distributed to (or interest to be added to the Class Principal Balance of) that Class. Prepayment Penalties received by the Trustee with respect to a Ginnie Mae Multifamily Certificate will be distributed, along with the related prepayment, on the Distribution Date, immediately following the Trustee’s actual receipt of the Prepayment Penalties, to Holders of one or more Classes of Securities in accordance with provisions set forth in the related Offering Circular Supplement.  A distribution of Prepayment Penalties will not decrease the Class Principal Balance of any Class receiving such a distribution. Method of Distributions Distributions of principal and interest (or, where applicable, of principal only or interest only) and related Prepayment Penalties, if any, on a Series (or, if the Series is segregated into Security Groups, on a Security Group) will be made on each Distribution Date for that Series (or Security Group) (or, with respect to Certificated Securities, the Business Day following the Distribution Date) to the Persons in whose names the Securities are registered on the related Record Date. The Book-Entry Depository will make distributions of principal, interest and Prepayment Penalties, if any, on any Book-Entry Securities, and Beneficial Owners of Book-Entry Securities will receive distributions, through credits to accounts maintained on the books and records of appropriate financial intermediaries (including the Federal Reserve Bank of New York, as Holder) for the benefit of those Beneficial Owners. The Trustee will make distributions on any Certificated Securities (a) by check mailed to the Holder at the Holder’s address as it appears in the applicable Register on the applicable Record Date or (b) upon receipt by the Trustee of a written request of a Holder accompanied by