Base Offering Circular – Multifamily 1 OFFERING CIRCULAR SUPPLEMENT The Offering Circular Supplement relating to the Securities (or separate Classes of Securities) of a Series to be offered under this Offering Circular will, among other things, set forth with respect to those Securities, as appropriate: (a) information about the assets comprising the related Trust, including the general characteristics of the Ginnie Mae Multifamily Certificates included in that Trust and the Mortgage Loans underlying the Ginnie Mae Multifamily Certificates; (b) a description of each Class of Securities in that Series and the Interest Rate or method of determining the amount of interest, if any, to be passed through to Holders of Securities of those Classes; (c) the Original Class Principal Balance or original Class Notional Balance of each of those Classes; (d) the method for determining the amount of principal, if any, to be distributed on each of those Classes on each Distribution Date; (e) additional information about the plan of distribution of those Securities; (f) information about the Trustee; (g) designation of the Securities offered pursuant to the Offering Circular Supplement as Regular Interests or Residual Interests in a Trust REMIC; and (h) the circumstances, if any, under which the related Trust may be subject to early termination. DEFINED TERMS Capitalized terms used in this Multifamily Base Offering Circular and any Offering Circular Supplement shall have the meanings assigned in the glossary included in Appendix II, unless otherwise specified. Capitalized terms used only in “Certain Federal Income Tax Consequences” in this Multifamily Base Offering Circular and in the Offering Circular Supplement will be defined within those sections.