Ginnie Mae is excited to announce plans to migrate its securitization platform operations in the MyGinnieMae portal to a public cloud starting October 19, 2022.
In 2018, Ginnie Mae migrated its back-end securitization processing, including disclosures and other financial, accounting, data, analytics, and reporting to a public cloud. It deliberately paused any further efforts to migrate remaining securitization platform operations as there was much to learn from its first public cloud migration. This decision allowed Ginnie Mae to
1) commence planning an enhanced business digital transformation path forward, and
2) begin defining many opportunities for it to take advantage of more advanced cloud-based capabilities.
The portal migration, which begins, October 19 is vital to Ginnie Mae’s mission as it enables the implementation of a more flexible and agile securitization platform in support of business and technology transformation. By leveraging state of the art technology through robust platform changes, Ginnie Mae intends to bring efficient and agile processing to its business operations. We will have improved security, enhanced digital collateral capabilities, advanced analytics, and other business transformation opportunities. These new capabilities signal transformational opportunities that will make it easier for those who need and want to do business with Ginnie Mae, and who seek to extend our services to more community lenders, to expand affordable homeownership and rental opportunities for years to come.
On October 19, 2022, you can expect the following:
Pooling and Issuance:
• 2PM pooling deadline for MBS certifications for next day delivery remains unchanged
• 2 PM deadline for Platinum Pool Submission for next day delivery
• 4 PM cutoff for Commitment Authority requests 4 PM latest Electronic Transmission date and Paper Submission date for conversion of Multi-Family Construction Loan (CL)/Construction Loan Split-rate (CS) to Project Loan Non-Level Payments (PL)/ Project Loan Level Payment (PN) pools
• 9PM deadline for buyer acceptance of Pools Issued for Immediate Transfer (PIIT)
• 9 PM deadline to perform Monthly RFS reporting Certification; moved from 10/21
• 9 PM deadline for buyer acceptance of new Pool Transfer System (PTS) submissions with an effective servicing transfer date of Jan 1, 2023
• 9 PM MyGinnieMae Portal Login unavailable
Ginnie Mae's business partners will be able to access the MyGinnieMae portal again on Tuesday Oct 25th for all program needs.
A visual timeline can be found here.
Ginnie Mae’s migration to the cloud is a critical foundational and business initiative that will enable more efficient operations with our business partners and provide agility and speed in current and future planned operations. As Ginnie Mae reimagines its platform, cloud will also provide flexibility and more secure interoperable operations. Product flexibility is one of the major benefits of cloud adoption and it will drive more efficiency, enable rapid development, and meet ever changing market demands. Ginnie Mae has also defined many new business opportunities and capabilities that will be transformational and allow for advancing homeownership for borrowers nationwide.
Keep in touch with Ginnie Mae on our social media channels: Twitter, LinkedIn, Facebook.
Barbara Cooper-Jones is Senior Vice President, Office of Enterprise Data & Technology Solutions