Periodically, it is necessary for Ginnie Mae to make minor changes and/or corrections to the Mortgage Backed Securities Guide 5500.3, Rev. 1 (MBS Guide) to ensure Ginnie Mae policies are clearly and accurately reflected. The following changes do not materially alter policies, but are necessary for maintenance purposes.
Various Loan Record
Ginnie Mae is committed to facilitating Issuers’ comprehensive reporting on the underlying collateral that backs Ginnie Mae guaranteed securities. As noted in APM 14-14 effective with January 1, 2015 issuances, and thereafter, Issuers will be required to provide the Loan Origination Date for all loans pooled.
Starting April 1, 2015, Issuers will be able to revise the Loan Origination Date in field 25 of the Various Loan Record in the Reporting and Feedback System (RFS) Issuer Monthly Report of Pool and Loan Data (Appendix VI-19). Through the Various Loan Record, Issuers are able to correct data elements originally submitted at pool issuance. The revised Various Loan Record has been excerpted from Appendix VI-19 and is attached to this APM.
11710-D Exceptions in the RFS Exception Module
It has come to Ginnie Mae’s attention that there is some confusion within the Issuer community on where to locate form HUD 11710-D, Issuer’s Monthly Summary Report, reporting errors or “exceptions.” These are communicated to Issuers in the Exception Feedback module where pool exceptions are identified under RFS in the Ginnie Mae Enterprise Portal (GMEP). The following excerpt will be added to the Summary of RFS Calculations and Reconciliation to Issuer Monthly Summary Report section in Appendix VI-19 and provides instructions on how to identify the 11710-D exceptions:
“11710-D exceptions are found in the Exception Feedback module of RFS, displayed online and in the Issuer’s download of reporting exceptions. 11710-D exceptions have a Pool ID naming convention as follows:
- “1-xxxx” for 11710D exceptions relating to an Issuer’s Ginnie I pools.
- “2-xxxx” for 11710D exceptions relating to an Issuer’s Ginnie II pools.
In both of the Pool ID notations above, “xxxx” represents the Issuer ID #. For example, the Pool ID for Issuer # 1234’s 11710-D exceptions related to Ginnie II pools is ‘2-1234.’”
The applicable changes to Appendix VI-19 will be officially incorporated into the MBS Guide on April 1, 2015. If you have any questions regarding this announcement, please contact your Ginnie Mae Account Executive in the Office of Issuer & Portfolio Management directly or at 202-708-1535.
Attachment:
Attachment A: Revised record layout