The purpose of this bulletin is to inform interested parties in the Ginnie Mae Multiclass Securities Program of an impending change in policy regarding the eligible collateral requirements for Ginnie Mae Platinum Securities. These changes are intended to encourage increased utilization of the Ginnie Mae Platinum Certificate Program. The changes are effective for December Issuance and thereafter.
Ginnie Mae is pleased to announce the creation of three new high balance (“Jumbo”) pool types for the aggregation of fixed rate Jumbo pools in the Ginnie Mae Platinum Certificate Program. These new Jumbo pool types include M FP, M AP and M BP. The following chart identifies the existing fixed rate pool types that can be aggregated into each of the new Jumbo pool types for the Ginnie Mae Platinum Certificate Program.
|M FS 30yr
|M JM 30yr and C SF 30yr (commingling permitted)
|M JM 15yr and C SF 15yr (commingling permitted)
M JM pools are permitted in the Ginnie Mae Platinum Certificate Program only in accordance with this announcement. M JM pools continue to otherwise be prohibited from inclusion in Ginnie Mae Platinum Securities as announced in MPM 13-05. Except as set forth herein, the Ginnie Mae Platinum Guide, effective on March 1, 2017, shall continue in full force and effect in accordance with its terms.
Please contact Richard Perrelli, Product Manager Multiclass Securities, Office of Capital Markets at (202) 475-7992 with any questions or comments regarding this announcement.