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Multiclass Partici​pants Memoranda (MPMs)

All Multiclass Participants Memoranda (MPMs) can be accessed via our online library (powered by AllRegs) or downloaded in Portable Document Format (PDF) from this page. Please click herearrow to download Adobe Acrobat Reader.

Only a subset of MPMs are listed on this p​age. In order to acce​ss all MPMs back to year 2002, please click herearrow. Please direct any questions you may have to your Ginnie Mae Account Executive in the Office of Issuer and Portfolio Management at (202) 708-1535 or to the Office of Capital Markets at (202) 401-8970.

Year
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6/4/2024 - MPM 24-01
New Platinum Pool Types C EP & H PE

The purpose of this Multiclass Participants Memorandum is to inform interested participants that effective with issuances on and after June 12th, 2024, Platinum Participants may aggregate MBS Pool Type C ET into Platinum pool type C EP; and HMBS Pool Type H SA into Platinum Pool Type H PE. …

11/30/2023 - MPM 23-03
Optional Early Closing Date Available Beginning in December 2023

The purpose of this Multiclass Participants Memorandum is to inform interested participants that, effective for multiclass transactions closing in December 2023, Ginnie Mae will offer sponsors the option to close transactions (i) on the Closing Date specified on the Ginnie Mae REMIC monthly calendar available on Ginnie Mae's website or (ii) on the Business Day immediately preceding such specified Closing Date (an "early Closing Date"). Sponsors must notify Ginnie…

10/11/2023 - MPM 23-02
C RG eligible to be pooled in Platinum C SP and C JP Pool types

The purpose of this Multiclass Participants Memorandum is to inform interested participants that, effective with issuances on and after October 16, 2023, Platinum Participants may aggregate and commingle C RG pool types within Platinum Pool Types C SP (30-year) and C JP (15-year) to improve liquidity for C-RG securities. …

5/1/2023 - MPM 23-01
Selection of CME Term SOFR plus Spread Adjustment as Replacement Rate for all LIBOR Classes of Ginnie Mae Multiclass Securities Effective after June 30…

In 2020, Ginnie Mae adopted recommendations of the Alternative Reference Rates Committee (ARRC) for fallback language for all LIBOR floating rate multiclass securities to address the pending cessation of LIBOR.1

9/20/2021 - MPM 21-01
Cessation of New LIBOR-Indexed Multiclass Securities

The purpose of this Multiclass Participants Memorandum (MPM) is to inform interested participants in the Multiclass Securities Program that, effective beginning with January 2022 transactions, Ginnie Mae will no longer permit the issuance of new Multiclass Securities that bear interest at a rate determined by reference to LIBOR unless such Multiclass Securities are (i) re-securitizations of existing LIBOR Classes that (ii) do not increase the total unpaid principal…

10/7/2020 - MPM 20-03
Adoption of ARRC LIBOR Fallback Recommendations for LIBOR Classes of Ginnie Mae Multiclass Securities Issued Before March 2020

In March 2020, Ginnie Mae adopted recommendations of the Alternative Rates Reference Committee (ARRC) for fallback language for LIBOR floating rate securities issued in March 2020 or later (the “ARRC Recommendations”).1 The purpose of this Multiclass Participants Memorandum (MPM) is to inform interested participants that Ginnie Mae will adopt the same ARRC Recommendations for issuances of LIBOR floating rate securities before March 2020…

6/12/2020 - MPM 20-02
SMBS Program Updates

The purpose of this Multiclass Participants Memorandum (MPM) is to inform interested participants of the following updates to the Stripped Mortgage-Backed Securities (SMBS) program, effective for June 2020 transactions:

  • All Ginnie Mae Multifamily Certificates are eligible trust assets for SMBS transactions.
3/19/2020 - MPM 20-01
Announcement of Updates to Multiclass Securities Guide and Adoption of ARRC LIBOR Fallback Recommendation for New Issuance of LIBOR Classes of…

The purpose of this Multiclass Participants Memorandum (MPM) is to inform interested participants that, effective March 1, 2020, all parts of the Ginnie Mae Multiclass Securities Guide (the “Guide”), including the Single Family Base Offering Circular and Multifamily Base Offering Circular, have been updated to incorporate program enhancements implemented since the March 1, 2017, updates were last published. Those enhancements include:…

5/6/2019 - MPM 19-01
Notice Regarding the Removal of the Transaction Initiation Letter and Checklist Requirement

The purpose of this Multiclass Participants Memorandum (MPM) is to inform interested participants that, effective for May 2019 transactions and for all other future transactions, Ginnie Mae will no longer require the execution or delivery of the Transaction Initiation Letter and Checklist as described under “Transaction Guidelines for the Ginnie Mae Multiclass Securities Program – General Overview – Initiating a Transaction” and “– Transaction Initiation Letter”…

1/27/2016 - MPM 16-01
Notice Regarding Ginnie Mae Reviews of Collateral Modifications of Multifamily and Healthcare Loans Backing Ginnie Mae MBS in REMICs

The purpose of this Multiclass Participants Memorandum (MPM) is to notify Real Estate Mortgage Investment Conduit (REMIC) Sponsors that Ginnie Mae will no longer review collateral modifications of multifamily and healthcare loans in Ginnie Mae mortgage-backed securities (MBS) that back Ginnie Mae REMIC Trusts. For purposes of this MPM, healthcare loans do not include FHA Section 242 hospital loans, which remain subject to the requirements in MPM 11-04…

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Last Modified: 10/18/2024 1:35 PM