In APM 23-05, Ginnie Mae announced requirements for the collection of additional loan-level data elements to be incorporated as part of the Reporting and Feedback System (RFS) investor reporting process. The purpose of this APM is to incorporate feedback obtained from industry outreach and provide further clarifications to the previously announced data elements. The field clarifications are noted below and apply to Single Family, Multifamily and Manufactured Housing MBS. Appendix VI-19—Issuers Monthly Report of Pool and Loan Data (Appendix VI-19) of the Ginnie Mae Mortgage-Backed Securities Guide 5500.3, Rev-1 (MBS Guide) has been updated accordingly. Effective September 1, 2024, Issuers will be required to report the additional loan level elements for August 2024 activity.
L-Loan Record
Field #
| Field Name
| Definition/Remarks
| 23
| Actual Loan UPB
| Loan UPB is revised to Actual Loan UPB and defined within the Loan Record Field Instructions section.
| 35
| Curtailment Principal Code
| Code 3 "Other Funds Curtailment" has been renumbered to Code 4 and a new Code 3 has been defined as "Both Borrower Funds Curtailment and Claim Funds Curtailment". Further detail is provided in the Loan Record Field Instructions sections.
|
V-Various Loan Record
Field #
| Element Name
| Definition/Remarks
| 27
| Document Custodian
| Data type changed from "Character" to "Numeric"
|
The three items listed above are noted as revised elements. For all additional clarifications and minor revisions to instructions, refer to Appendix VI-19.
Testing will begin in March 2024. Detailed information regarding testing and implementation schedules, testing procedures, and training materials can be found on the Modernization Initiatives page on Ginnie Mae’s website at
https://www.ginniemae.gov/issuers/issuer_training/Pages/modernization.aspx
If you are an Issuer, service bureau or other industry participant and have technical questions regarding this announcement, please contact Ginnie Mae’s centralized help desk at askGinnieMae@hud.gov. |