I. Purpose
This bulletin announces the addition of a "Re-Performing Loan Indicator" to Ginnie Mae's Mortgage-Backed Securities (MBS) Loan and Pool Data Disclosure files, providing investors with enhanced visibility into the collateral composition of certain Ginnie Mae II pools.

II. Background​​
Re-performing loans are mortgages that were previously bought out of a Ginnie Mae pool following delinquency, have since returned to current payment status, and have not been modified from their original rate and terms. Understanding which loans in a pool carry this history is meaningful to investors, as these loans have distinct prepayment, default, and performance characteristics compared to standard originations.

Ginnie Mae has expanded the eligible securitization vehicles for re-performing loans over time in response to both market conditions and evolving policy. Disclosure Bulletin 2023-09 (February 6, 2023) noted that the Loan Purpose 5 designation wo​uld begin appearing in existing pool stratification records for M SF pools as a result, but no new data fields or records were introduced at that time. Most recently, Multiple Issuer High Balance Loan (M JM) pools were also opened to re-performing loan collateral.  As re-performing loans have become present across a broader range of pool types  (C RG, Custom Extended Term (C ET), M SF, and M JM),  Ginnie Mae is now introducing a dedicated Re-Performing Loan Indicator at both the loan and pool level to give investors a clear, consistent signal of this collateral characteristic across all disclosure files.

III. Data Disclosure Files
The data will be added to MBS Loan New Issuance and to MBS Loan and Pool Monthly Portfolio files and will specifically be added to these files:

Existing (Legacy) Files on Disclosure Data Download Files

• 3 Loan Disclosure Files: MBS SF DAILY NEW ISSUES - LOAN LEVEL, MBS SF MONTHLY NEW ISSUES - LOAN LEVEL, MBS SF PORTFOLIO - LOAN LEVEL, GINNIE II
• 1 Pool Disclosure File:  MBS SF PORTFOLIO POOL - POOL SUPPLEMENTAL (Stratification Record Type 31)

Version 2.0 Files — Planned for August 2026

• 3 Loan Disclosure Files:  MBS SF Daily New Issues Loan Level, MBS SF Monthly New Issues Loan Level, MBS SF Portfolio Loan Level
• 1 Pool Disclosure File:  MBS SF Portfolio Pool (Pool Supplemental, ​​Stratification Record Type 31)

File layouts with the Re-Performing Loan data fields included are attached:  See Field 49 on Legacy Loan file version 1.9, Field LL-55 on Loan file version 2.0, Stratification record 31 on Legacy Pool file version 1.2.10, and Stratification record 31 on Pool file version 2.0.

IV. Test Files and Implementation Dates​

For the Q2 reference, Ginnie Mae will provide specific delivery dates for each of the MBS Loan and Pool Files listed above in a subsequent bulletin.

V. Questions
For questions related to this bulletin, contact: