| 1/22/2026 - APM 26-02 | | Ginnie Mae reminds Issuers of their ongoing obligation to comply with the Mortgage-Backed Securities Guide, 5500.3, Rev.1 (MBS Guide), including the limitation against encumbrances on mortgages backing Ginnie Mae securities. Therefore, Issuers are prohibited from pooling any mortgages subject to beneficial interest, or selling a beneficial interest in mortgages pooled in a Ginnie Mae mortgage-backed security. In accordance with Chapter 9 Part 2 §F of the MBS Guide, any encumbrance must be extinguished prior to pooling and Issuers must complete the Certification and Agreement, form HUD-11711B, and if necessary, a HUD-11711A, certifying that only Ginnie Mae will have any ownership interest in and to the pooled mortgages. Ginnie Mae has modified Chapter 9 Part 2 §F of the MBS Guide consistent with this announcement. If you have any questions regarding this announcement, please contact your Account Executive in the Office of Issuer and Portfolio Management or contact Ginnie Mae’s centralized help desk at askGinnieMae@hud.gov. |
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| 1/13/2026 - APM 26-01 | | Ginnie Mae’s Digital Collateral program has grown significantly since its launch, with over $92 billion of eNotes included in Ginnie Mae Mortgage-Backed Securities (MBS) and over 50 Issuers participating in the program. Due to its continued growth, Ginnie Mae is expanding the Digital Collateral program. Ginnie Mae MBS backed by eNote collateral will soon be eligible for Ginnie Mae's Pools Issued for Immediate Transfer (PIIT) program. This expansion is effective with issuances dated February 1, 2026, and thereafter.
Presently, pool transfers backed by physical promissory notes are the only pools eligible for transfer through the PIIT program. This change will implement the authorization of pool transfers via PIIT backed by eNotes, or a combination of eNotes and physical notes.
To begin issuing through the PIIT program, eIssuers must comply with Section 6600 of the Ginnie Mae Digital Collateral Program Guide (Appendix V-07), and Chapter 10 of the Ginnie Mae Mortgage-Backed Securities Guide (MBS Guide). Section 6600 of the Ginnie Mae Digital Collateral Program Guide provides specific guidance for eIssuers on the general program requirements, restrictions of the program, MERS eRegistry updates, and PIIT transfers that require a transfer of custodial responsibility.
If you have any questions regarding this announcement, please contact your Account Executive or Mortgage Banking Analyst in the Office of Issuer and Portfolio Management or contact Ginnie Mae’s centralized help desk at askGinnieMae@hud.gov. |
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| 12/11/2025 - APM 25-07 | | Ginnie Mae is implementing a new liquidation reporting requirement to collect timely information about collateral for Mortgage-Backed Securities (MBS) guaranteed by Ginnie Mae. Implementation timing will allow for Issuer development and testing and is described below.
Ginnie Mae will require Single Family Issuers to report loan liquidations as they occur throughout the month. To simplify implementation, the Liquidation Event Reporting (LER) will leverage the L Record of the Issuers Monthly Report of Pool and Loan Data (Appendix VI-19) to the Ginnie Mae Mortgage-Backed Securities Guide, 5500.1, REV-1 (MBS Guide). However, only the fields pertinent to liquidations are required. The LERs do not substitute for the liquidation data contained in the Issuers Monthly Report of Pool and Loan Data, Issuers are required to submit this data as they currently do when completing monthly reporting.
Testing is anticipated to begin later this month. Ginnie Mae will make training and testing announcements via upcoming modernization bulletins; and will announce implementation dates in a future APM.
LER requirements, including the file layouts, exception feedback, and submission method are located in a new Appendix VI-24 (Reporting and Feedback System (RFS) Issuer Report of Liquidation Event Data), and Chapter 17 of the MBS Guide, which are attached to this APM. LERs must be received by Ginnie Mae no later than 5:00 AM Eastern Time, the 1st business day following the liquidation event. Corrections can be submitted through and including the last day of the Issuer’s reporting period in which the loans are liquidated.
Chapter 17 of the MBS Guide applies to the Single Family, Multifamily and Manufactured Housing programs. However, LER, and Payment Default Status (PDS) apply solely to Single Family programs. Therefore, we have combined PDS and LER requirements in a new Part 7, with Parts 4 and 5 updated accordingly.
If you have any technical questions about this announcement, please contact Ginnie Mae’s centralized service desk at askGinnieMae@HUD.gov. For any other questions, please contact your Account Executive directly.
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| 12/8/2025 - APM 25-06 | | Pursuant to the Housing and Economic Recovery Act of 2008 (HERA), the Federal Housing Finance Agency (FHFA) has announced increased conforming loan limits. Accordingly, Ginnie Mae is revising its definition of High Balance Loans as follows. Effective for pools or loan packages submitted on or after January 1, 2026, a High Balance Loan is defined as a single-family forward mortgage loan with an original principal balance (minus the amount of any upfront mortgage insurance premium or the VA Funding Fee) that exceeds the following limits: Maximum Loan Amounts (net of any financed MIP or Guaranty Fee)
| | | | | Units
| Contiguous 48 States, District of Columbia, American Samoa, and Puerto Rico
| Alaska, Hawaii, Guam, and the U.S. Virgin Islands
| 1
| $832,750
| $1,249,125
| 2
| $1,066,250
| $1,599,375
| 3
| $1,288,800
| $1,933,200
| 4
| $1,601,750
| $2,402,625
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High Balance Loans are eligible for Ginnie Mae MBS subject to the restrictions detailed in Ch. 9, Part 2, § B and Ch. 24 Part 2, § A(1) of the Mortgage-Backed Securities Guide 5500.3, Rev-1 (“MBS Guide”).
If you have any questions regarding this announcement, please contact your Account Executive in the Office of Issuer and Portfolio Management.
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| 7/31/2025 - APM 25-05 | | Ginnie Mae currently allows Issuers to substitute a Lost Instrument Bond (LIB) for a lost, stolen, destroyed, or missing mortgage note for modified loans or New York Consolidation, Extension and Modification Agreement (CEMA) loans that are securitized into single-family mortgage-backed securities (MBS) pools for initial certification purposes. Ginnie Mae is extending this provision to include Re-Performing loans. Effective immediately, Ginnie Mae will allow Issuers to use an LIB that meets Ginnie Mae requirements as provided in Appendix V-01 (Document Custodian Manual Chapter 3) to the Ginnie Mae Mortgage-Backed Securities Guide, 5500.3, REV-1 (MBS Guide) and Appendix I (Lost Instrument Bond with Limited Liability) to Appendix V-01 (Document Custodian Manual) to substitute for a lost mortgage note on reperforming loans.
Ginnie Mae has revised Appendix V-01 (Document Custodian Manual Chapter 3 to the MBS Guide to reflect that LIBs may substitute for lost mortgage notes on Re-Performing and Re-Performing modified loans at initial certification. Ginnie Mae has also added the term Lost Instrument Bond (LIB) to the MBS Guide Glossary. If you have any questions regarding this announcement, please contact your Account Executive or Mortgage Banking Analyst in the Office of Issuer and Portfolio Management or contact Ginnie Mae’s centralized help desk at askGinnieMae@hud.gov. |
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