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Multiclass Participant Memorandum (MPM)

MPM 19-01: Notice Regarding the Removal of the Transaction Initiation Letter and Checklist Requirement

Published Date: 5/6/2019 9:50 AM

The purpose of this Multiclass Participants Memorandum (MPM) is to inform interested participants that, effective for May 2019 transactions and for all other future transactions, Ginnie Mae will no longer require the execution or delivery of the Transaction Initiation Letter and Checklist as described under “Transaction Guidelines for the Ginnie Mae Multiclass Securities Program – General Overview – Initiating a Transaction” and “– Transaction Initiation Letter” in the Ginnie Mae Multiclass Securities Guide currently in effect, as amended by previous Multiclass Participants Memoranda (the “Guide”).

After the initial inquiry with the potential Sponsor, Ginnie Mae will email the Sponsor confirming the designation assigned to the proposed Ginnie Mae Multiclass Securities offering.

Sponsors will still be expected to provide Ginnie Mae and the Financial Advisor with (a) the proposed Securities Structure on Final Structure Date, (b) a Trust Asset List that describes the type(s) of Trust Assets to be included in the related Trust and affirmation that any Underlying Certificates or Underlying SMBS Securities, as applicable, included in the Trust will evidence, indirectly or directly, Ginnie Mae Certificates, (c) in the case of Underlying Certificates evidencing interests in Freddie Mac or Fannie Mae Certificates, a reference sheet or terms sheet (as applicable) from the related Underlying Certificate Disclosure Document and (d) any other information Ginnie Mae or the Financial Advisor may request with respect to the proposed transaction.

Capitalized terms used herein have the meanings in the Guide.

Please call Ginnie Mae’s Office of Capital Markets at (202) 475-7820 with any questions or comments regarding this announcement.

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