Ginnie Mae hereby announces additional updates to the Mortgage-Backed Securities Guide, HUD Handbook 5500.3, Rev-1 (MBS Guide), including its Document Custody Manual, Appendix V-01 (DCM), as part of its initiative to revise the policies affecting pool certification and document review requirements. Ginnie Mae has restructured certain provisions and cross-references in Chapter 11 and Chapter 13 of the MBS Guide in light of the revised DCM published on February 1, 2016. Ginnie Mae has also consolidated and restated certain provisions previously contained in Chapters 11 and 13 of the MBS Guide into Chapter 7 of the DCM to provide program participants with greater context surrounding Ginnie Mae’s requirements. Lastly, Ginnie Mae has updated the Frequently Asked Questions and the Lost Instrument Bond standard form contained in Chapter 9 and Appendix I of the Document Custody Manual, respectively, in response to issues submitted to Ginnie Mae after implementation of the revised DCM.
At the 2016 Ginnie Mae Summit, Ginnie Mae staff provided a preview of these updates and structural changes during the “Document Custody Manual FAQs and Guide Updates Session.” The presentation for this session is accessible in Ginnie Mae’s web site and at this link.
The updated MBS Guide and Document Custody Manual chapters referenced in this APM are published in Ginnie Mae’s website and are effective immediately. 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. |