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Ginnie Mae I vs. Ginnie Mae II

 

Ginnie Mae I MBS
Ginnie Mae II MBS
Issuer
Ginnie Mae-approved Mortgage Lender (Single-Issuers)
Ginnie Mae-approved Mortgage Lender (Single-Issuers)
Underlying Mortgages
Government-insured and -guaranteed Loans (FHA, VA, RD, PIH)
Government-insured and -guaranteed Loans (FHA, VA, RD, PIH)
Pool Types
Single-Family Level-Payment Mortgage
 
Single-Family Graduated Payment Mortgage
 
Single-Family Growing Equity Mortgage
 
Single-Family Buydown Mortgage
 
Manufactured Housing
 
Serial Notes
 
Multifamily Construction Loan
 
Multifamily Project Loan
Single-Family Level-Payment Mortgage
 
Single-Family Graduated Payment Mortgage
 
Single-Family Growing Equity Mortgage
 
Single-Family Adjustable Rate Mortgage
 
Manufactured Housing 
 
Buydown Mortgages



Interest Rate on Underlying Mortgages
All mortgages in a pool have the same interest rate (except manufactured housing pools)
Mortgages in a pool may have interest rates that range from 25 to 75 percent

Guaranty
Timely payment of principal and interest
Timely payment of principal and interest
Guarantor
Ginnie Mae
Ginnie Mae
Principal and Interest
Paid monthly to securities holders
Paid monthly to securities holders
Payment Date
15th of the month
20th of the month
Record Date
Final day of the month before payment
Final day of the month before payment
Maturity
Maximum 30 years for Single-Family; 40 years for Multifamily
Maximum 30 years

Minimum Certificate Size
$25,000; $1 increments
$25,000; $1 increments
Minimum Pool Size
$1,000,000 (Single-Family);
$25,000 (Multifamily)
$250,000-$1,000,000 depending on pool type
Last Modified: 2/26/2013 3:04 PM