Reference is hereby made to Bulletins 2017-020, 2019-039, 2021-050 and 2021-065​ (the "Prior Bulletins"), which remain in effect, and address certain restrictions on the inclusion of previously issued HREMIC securities in new HREMIC transactions. To all participants in the Ginnie Mae Multiclass Securities Program, effective for transactions settling on or after March 1, 2022:

• ​Ginnie Mae will permit up to eight (8) underlying HREMIC classes to be included as trust assets in a single Ginnie Mae HREMIC transaction.
• All final HECM MBS pool information for inclusion in each HREMIC transaction's OCS exhibits must be provided on or before the Final Structure Date. This includes all assumed HECM MBS pool information for HECM MBS backing any underlying HREMIC classes in the transaction.
• For HECM MBS backing any underlying HREMIC classes in a transaction, group-level HECM MBS cash flows must be tied out to the cash flows produced by the Accountants (specifically under the 0 PPC, 100 HDC, pricing index scenario) by 5 p.m. (New York time) five (5) Business Days prior to the Print Date. Failure to provide all cash flows timely and accurately may result in the removal of the entire collateral group.

All other restrictions reflected in the Prior Bulletins remain the same. Ginnie Mae reserves the right to disapprove a proposed transaction in its sole and absolute discretion.

Capitalized terms used but not defined herein have the meanings in the Ginnie Mae Multiclass Securities Guide currently in effect, as amended by previous Bulletins and Multiclass Participants Memoranda.

Please call Ginnie Mae’s Office of Capital Markets at (202) 475-7820 with any comments or questions regarding this announcement.