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All Participant Memorandum (APM)
APM 21-01: Extension of Temporary Relief from the Acceptable Delinquency Threshold Requirement
Published Date: 3/31/2021 10:40 AM

Due to the continuing impact of the COVID-19 Pandemic National Emergency on forbearance levels and delinquency rates, Ginnie Mae is further extending the exemptions that were announced in the APM 20-06: “Treatment of Mortgage Delinquency Ratios for Issuers Affected by COVID-19" and extended in the APM 20-17: “Extension of Temporary Relief from the Acceptable Delinquency Threshold Requirement” from July 31, 2021 through January 31, 2022 (December 2021 investor reporting).

Ginnie Mae will continue to exclude any delinquencies occurring on or after April 2020 for the purposes of enforcing the provisions in Ch. 18, Part 3, §§ C & D. Ginnie Mae will provide this exclusion automatically through January 31, 2022 to Issuers that were compliant with Ginnie Mae’s delinquency rate thresholds as demonstrated by their April 2020 investor accounting report, reflecting March 2020 servicing data. Issuers do not need to change any aspect of their monthly report to benefit from this exclusion and must continue to report loans in forbearance as delinquent in accordance with established procedures.

If you have further questions, please contact your Account Executive in the Office of Issuer and Portfolio Management directly.

Online Library Link:
Attachment(s):
APM_21-01.pdf