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All Participant Memorandum (APM)
APM 15-15: Implementation of Streamlined Investor Reporting
Published Date: 9/18/2015 1:00 AM

Ginnie Mae seeks to improve the accuracy and efficiency of monthly investor reporting for Issuers and Ginnie Mae alike by consolidating investor reporting activity into the Ginnie Mae Enterprise Portal (GMEP). Effective, October 1, 2015, Issuers are required to report Remaining Principal Balances (RPB), Multifamily Prepayment Penalty (MFPP), and Quarterly Custodial Account Verification (CAV) reports exclusively through GMEP.

Streamlined RPB Reporting
Currently, Issuers report RPB data through both GinnieNET and the Reporting and Feedback System (RFS) in GMEP. Beginning with reporting due the 2nd business day of October 2015, Issuers will no longer be required to report or correct RPB data through GinnieNET. The required data and process for submitting the Issuer Monthly Report of Pool and Loan Data (Appendix VI-19) through RFS will remain the same. To ensure accurate RPB reporting, Ginnie Mae has added some exceptions and reclassified others. Appendix VI-19 has been updated to incorporate these changes. This streamlined RPB reporting infrastructure will reduce process redundancies, create a single source of exception feedback, eliminate the need to conduct dual reconciliations for RPB, and remove failed edits and faxes.

Streamlined MFPP and CAV Reporting
Issuers will now use GMEP in lieu of GinnieNET to submit MFPP and CAV reports. There is a simplified set of data collected for both MFPP and CAV reports, and the new reporting process in GMEP will afford Issuers more options for submitting this data. GMEP will allow Issuers to submit MFPP and CAV reports using one of two methods, direct online entry or file upload. For direct entry submissions, Issuers must enter MFPP report data via the new Prepayment Penalty tab, and CAV report data via the Custodial Account Verification tab, both of which are within the RFS Pool Accounting application. Alternatively, Issuers may submit these reports through the File Upload application in GMEP by completing and uploading a file that follows the format, conventions, and layout described in Appendix VI-14 and Appendix VI-16 of the Mortgage-Backed Securities Guide, 5500.3, Rev.1 (MBS Guide), for MFPP and CAV submissions respectively.

Individuals Authorized to Submit RPB, MFPP and CAV Reports
Under the streamlined reporting infrastructure, only GMEP users who are assigned the Pool Accounting role will be able to submit RPB, MFPP, and CAV reports. Individuals who are currently responsible for submitting any of these reports in GinnieNET but lack access to GMEP or lack the Pool Accounting user role designation must work with one of the Security Officers within their organization to complete a User Registration form and obtain the necessary role assignment in GMEP. The User Registration form is available on the 2015 Modernization page of Ginnie Mae’s website.

Other GinnieNET Reporting and Historical Data Not Affected by this Update
The process for submitting Monthly Issuer Reports, form HUD-11710D, and Remittance Advice, forms HUD-11714 and HUD-11714SN, is not changing at this time. Issuers must continue to submit Monthly Issuer Reports and Remittance advice through GinnieNET. Starting October 1, 2015, Issuers will be able to access GinnieNET to view historical data concerning RPB Reporting, Multifamily Prepayment Penalties and CAV reports, but will not be able to submit any new data. Please note that these changes do not go into effect until October 1. Therefore, any CAV due for the month of September must still be submitted through GinnieNET. Also, please note that the next CAVs submission is not due until December 2015. Consequently, Issuers will not need or be able to use the GMEP direct entry or file upload functions for submitting CAVs until December 2015.

RFS Exceptions and MBS Guide Updates
The MBS Guide has been updated to reflect the new reporting processes described in this memorandum. Chapters 6, 17, 19, 31 and 35 of the MBS Guide have been modified to eliminate inapplicable references to GinnieNET RPB reporting requirements. The RPB Submission Formats in Appendix VII-01, for MBS, and Appendix VII-02, for HMBS, are no longer needed and the appendices are now reserved. The RFS exceptions listed in Appendix VI-19 have been updated in accordance with this memorandum. MBS Guide Appendix VI-14 and Appendix VI-16, which were previously reserved, have been republished and contain the file layouts for MFPP reporting and for CAV reporting. Chapter 16 and Chapter 31 have been modified to reflect the new process for Quarterly Custodial Account Verification and Multifamily Prepayment Penalty reporting. The MBS Guide changes referenced in this memorandum will be effective October 1, 2015.

Please direct any questions you may have to your Ginnie Mae Account Executive in the Office of Issuer and Portfolio Management directly or at (202) 708-1535.

Online Library Link: APM 15-15