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2018-064: Special Pool Factor Announcement
Published Date: 8/17/2018 2:00 PM

In Ginnie Mae’s release of July 2018 MBS Pool factor reporting, published August 8th, a large initial month prepayment activity was reflected in the data. Upon further review, this activity was identified as an operational event in which a Ginnie Mae Issuer erroneously repurchased 135 loans amounting to $38 million. This affected three Ginnie II TBA eligible Multiple Issuer Pools with July 2018 issue dates.

The affected Ginnie Mae MBS pools are:

​Pool ID ​CUSIP ​Loan Count ​Prepay Amount ​Total Pool ​% Prepay to Total Pool
MA​5330​ ​36179T4P7 ​71 ​$20,880,892 ​$13,883,917,512 ​0.15%
​MA5331 ​36179T4Q5 ​35 ​$10,300,534 ​$8,029,202,890 ​0.13%
​MA5332 ​36179T4R3 ​29 ​$7,137,493 ​$2,588,385,957 ​0.28%
​Total ​$38,318,919 $24,501,506,359 ​0.16%

These actions by the Issuer are in violation of the Ginnie Mae MBS Guide. Ginnie Mae understands the investor implications of this error and will be working closely with the Issuer to review and increase their processing controls in an effort to eliminate this type of error in the future. In accordance with the Ginnie Mae Guide, Ginnie Mae will privately address this event of program noncompliance directly with the offending Issuer.