Ginnie Mae MBS Guide (5500.3, Rev. 1) Chapter 11 — Issuer Responsibilities Related To Pool And Loan
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Ginnie Mae MBS Guide Chapter 11 — Issuer Responsibilities Related To Pool And Loan
: 2026-02-26 This chapter outlines the responsibilities of Issuers related to the Initial Certification, Final Certification, and Recertification of pools of loans or loan packages used as collateral for any MBS guaranteed by Ginnie Mae (“MBS Program Pools”). This Chapter also describes other policies governing the certification of MBS Program Pools. The specific procedures required to complete the various certifications referenced in this Chapter are further described in the Ginnie Mae Document Custody Manual, Appendix V-01 of this Guide (“Document Custody Manual” or “the Manual”). The Digital Collateral Guide, Appendix V-07 to this Guide provides the certification requirements for digital pools and loan packages.
Ginnie Mae MBS Guide Chapter 11 — Issuer Responsibilities Related To Pool And Loan
REQUIREMENT FOR MASTER CUSTODIAL AGREEMENT WITH APPROVED DOCUMENT CUSTODIAN Section A.
Ginnie Mae MBS Guide Chapter 11 — Issuer Responsibilities Related To Pool And Loan
: 2026-02-26 Documents relating to the pooled mortgages and pooled Participations must be held by an Approved Document Custodian on Ginnie Mae's behalf for the life of the pool or loan package. Each Issuer is required to arrange, prior to submission of a pool or loan package for processing, for a Document Custodian to provide custodial and pool certification services by entering into a Master Custodial Agreement, Form HUD-11715, with an eligible institution. The Master Custodial Agreement together with this Guide, including the Document Custody Manual, set forth the responsibilities of both the Issuer and the Document Custodian concerning the pool certification, documentation, and safekeeping requirements applicable to each pool and loan package. Section B. Renewal Requirements
Ginnie Mae MBS Guide Chapter 11 — Issuer Responsibilities Related To Pool And Loan
: 2017-01-06 The Master Custodial Agreement, Form HUD-11715, between each Issuer and Document Custodian must be renewed each year in accordance with “Part B. The Master Custodial Agreement” in Chapter 1 of the Document Custody Manual. Issuers are responsible for the timely execution and submission of such renewals.
Ginnie Mae MBS Guide Chapter 11 — Issuer Responsibilities Related To Pool And Loan
: 2017-01-06 Issuers are required to obtain an Initial Certification from an Approved Document Custodian for all pool and loan package types, except project loan pools (PL, PN, LM, LS, and RX) and construction loan pools (CL and CS), before issuing the related security. By an “Initial Certification”, the Document Custodian certifies to Ginnie Mae that: 1) it has received from the Issuer the minimum loan, pool, or loan package documents required to allow a Ginnie Mae security to be issued; 2) that the documents meet the attributes, accuracy, and completeness
Ginnie Mae MBS Guide Chapter 11 — Issuer Responsibilities Related To Pool And Loan
requirements described in the applicable document review procedures detailed in the Manual; and, 3) that the documents relate to and are consistent with the list of loans reflected in the associated Schedule of Pooled Mortgages, Form HUD-11706, in the case of an MBS, or with the Schedule of Pooled Participations and Mortgages, Form HUD-11706H, in the case of an HMBS. For Construction Loan Pools and Project Loan Pools, Ginnie Mae requires Issuers to obtain only a single Final Certification prior to the issuance of the related security. Section B. Variance for Construction and Project Loans
Ginnie Mae MBS Guide Chapter 11 — Issuer Responsibilities Related To Pool And Loan
: 2017-01-06 The list of documents required for Initial Certification, the corresponding document review procedures, and required Initial Certification procedures, including certification deadlines, for the various pool types are contained in the Manual as follows: Section C. Certification Process and Related Document Review Procedures
Ginnie Mae MBS Guide Chapter 11 — Issuer Responsibilities Related To Pool And Loan
, Rev. 1 11-2 ginniemae.gov (2) Chapter 4, Part C, For Manufactured Home Loan Pools (3) Chapter 10, Part C, For HECM Loan Pools
Ginnie Mae MBS Guide Chapter 11 — Issuer Responsibilities Related To Pool And Loan
FINAL CERTIFICATION REQUIREMENTS Issuers are required to ensure that all MBS Program Pool types receive a Final Certification by an Approved Document Custodian within 12 months of the issue date of the related MBS. Section A. General Requirement
Ginnie Mae MBS Guide Chapter 11 — Issuer Responsibilities Related To Pool And Loan
: 2017-01-06 By a “Final Certification”, the Document Custodian certifies to Ginnie Mae that: it has received from the Issuer all the loan, pool, or loan package documents required by the Manual for Final Certification of the relevant pool; and, that each of these documents meets the attributes, accuracy, and completeness requirements described in the applicable document review procedures detailed in the Manual. Section B. Certification Process and Related Document Review Procedures
Ginnie Mae MBS Guide Chapter 11 — Issuer Responsibilities Related To Pool And Loan
: 2017-01-06 The list of documents required for Final Certification, the corresponding document review procedures, and required Final Certification procedures, including certification deadlines, for the various pool types are contained in the Manual as follows: (1) Chapter 3, Part C, For Single Family Pools (2) Chapter 4, Part D, For Manufactured Home Loan Pools (3) Chapter 5, Part C, For Construction Loan Pools (4) Chapter 6, Part C, For Project Loan Pools (5) Chapter 10, Part D, For HECM Loan Pools
Ginnie Mae MBS Guide Chapter 11 — Issuer Responsibilities Related To Pool And Loan
Additional instructions for the single Final Certification required for Construction Loan Pools and Project Loan Pools is found in MBS Guide, Ch. 32, Part 8 and Ch. 31, Part 11, respectively. Section C. Impact of Pool or Loan Package Transfer on Deadlines
Ginnie Mae MBS Guide Chapter 11 — Issuer Responsibilities Related To Pool And Loan
: 2017-01-06 The transfer of any MBS Program Pool to a new Issuer or to a new Document Custodian does not impact the deadline for Final Certification of the relevant pool. The Final Certification for any MBS Program Pool that has been transferred must be completed within 12 months of the issue date of the related MBS. Section D. Limitations on Pool Transfers Prior to Final Certification
Ginnie Mae MBS Guide Chapter 11 — Issuer Responsibilities Related To Pool And Loan
: 2017-01-06 (1) Frequency Limitations. A Transfer of Issuer Responsibility is allowed only once prior to final certification.