Ginnie Mae recently announced, in APM 13-02, dated April 5, 2013, the publication of a revised Document Custodian Manual ("Manual"), Appendix V-1 to the Mortgage-Backed Securities Guide 5500.3 REV-1 ("Guide"), and originally made the revised Manual effective for pool issuances on or after June 1, 2013. Ginnie Mae received concerns from both Issuers and document custodians regarding the June 1 effective date. Therefore, Ginnie Mae is delaying the effective date of the revised Manual to January 1, 2014.
Ginnie Mae will issue necessary revisions to the Manual, as well as any necessary updates to the MBS Guide to reflect the Document Custodian Manual revisions, by October 1, 2013. Issuers and document custodians will be required to comply with the revised requirements for all pools with an issuance date of January 1, 2014, and thereafter.
For additional assistance, Issuers and document custodians may contact their Ginnie Mae Account Executive in the Office of Issuer and Portfolio Management at (202) 708-1535. |