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All Participant Memorandum (APM)
APM 15-20: Multifamily Loan Section of the Act Data Field Update and Prospectus Revisions
Published Date: 12/11/2015

Ginnie Mae is committed to enhancing the quality of the data collected and disclosed on the multifamily mortgage-backed securities (MBS) it guarantees. FHA and USDA RD multifamily loans can be originated under one, or a combination of sections of the National Housing Act and the Housing Act (section(s) of the Act), respectively. Ginnie Mae is updating the data field in GinnieNET to fully capture the section(s) of the Act under which an FHA or USDA RD multifamily loan is insured or guaranteed effective December 14, 2015.

Data Field for Direct Entry Pool Submission in GinnieNET
For direct entry pool submission in GinnieNET, the Section data field in the Multifamily Mortgage Details – 11706 screen will have both an updated FHA-RD Housing Section pick list from which to select a mortgage’s relevant section(s) of the Act and an expanded field in which the Issuer may type in the applicable section(s) of the Act. See attached GinnieNET Sections Pick List Descriptions document for the updated list.

Data Field for File Import Pool Submission in GinnieNET
For pool submissions via file import into GinnieNET, the Section Code data field - field 9 in the M01 mortgage record layout - is being moved to field 2 in the new M13 mortgage record layout. In its new location, the Section Code field will have added length to accommodate the section(s) of the Act information. Field 9 of the M01 mortgage record layout will be converted to filler. Please see the updated GinnieNET Multifamily Import File Layouts on the Ginnie Mae website at, http://www.ginniemae.gov/doing_business_with_ginniemae/issuer_resources/ginnienet/GinnieNETFileLayoutsLib/GinnieNET_Multifamily_File_Layout.pdf.

Prospectus Revisions
In addition to the update to the section(s) of the Act data field, Ginnie Mae is making minor technical revisions to the Project Loan Securities and Construction Loan Securities prospectuses, forms HUD-1724 and HUD-1731, respectively, to align them with Ginnie Mae’s policy contained in Chapters 31 and 32 of the Mortgage-Backed Securities Guide 5500.3, Rev. 1 (MBS Guide). These revisions will be effective January 1, 2016.

If you have any questions regarding this announcement, please contact your Account Executive directly or at (202) 708-1535.

Online Library Link: APM 15-20
Attachment(s):
APM_15-20.pdf    
APM_15-20_Attachment-ginnienet_picklist.pdf    
Appendix_ IV-09.pdf    
Appendix_IV-10.pdf    
GinnieNET_Multifamily_File_Layout.pdf    
HUD-1724.pdf    
HUD-1731.pdf    
Last Modified: ["Modified" column value]