Base Offering Circular – Multifamily
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Offering Circular Supplement.... The supplement to the Multifamily Base Offering Circular
constituting a part of the Offering Circular.
Opinion of Counsel ................... A written opinion of counsel, given by counsel reasonably
acceptable to the addressee and Ginnie Mae, upon which Ginnie
Mae is authorized to rely.
Original Class Principal
Balance......................................
As to each Class, the original principal amount of that Class of
Securities, as set forth in the related Offering Circular
Supplement and Trust Agreement or MX Trust Agreement, as
applicable.
Original Component Principal
Balance......................................
As to each Component, the original principal amount of that
Component, as set forth in the related Offering Circular
Supplement and Trust Agreement or MX Trust Agreement, as
applicable.
Other Type ............................ With respect to a Security, the category of a characteristic other
than principal or interest payment allocation, as identified in
Appendix I of the Base Offering Circular.
Ownership Interest .................. Any ownership interest in a Residual Interest, including any
interest in that Residual Interest as the Holder of the Residual
Interest and any other interest in the Residual Interest, whether
direct or indirect, legal or beneficial.
P&I Custodial Account ............ With respect to a Ginnie Mae Construction Loan Certificate, the
non-interest bearing custodial account of the related Ginnie Mae
Issuer into which any principal payments, unscheduled payments
of principal, and prepayment penalties received on the related
Mortgage Loan prior to the applicable Maturity Date are
deposited.
PAC or Planned Authorization
Class..........................................
A Class that is designed to receive distributions of principal
using a predetermined schedule derived by assuming two
constant prepayment rates for the underlying Mortgage Loans.
These two rates are the endpoints for the Structuring Range for
the PAC Class. The endpoints must be at least 30% points
above and below the pricing speed. The PAC Classes in any
Series or Security Group may be subdivided into different
categories (e.g., PAC I, PAC II) having different structuring
ranges. The structuring range for a PAC I Class of a Series or
Security Group usually is wider than the structuring range for a
PAC II Class of such Series or Security Group, as applicable.