Appendix II-2 Commitment to Guarantee Mortgaged-Backed Securities

Ginnie Mae Mortgage-Backed Securities Programs

Form 11704 - Appendix II-2

Ginnie Mae Mortgage-Backed Securities Programs - Appendices

OMB: 2503-0033

Document [doc]
Download: doc | pdf


Commitment to Guarantee

Mortgage-Backed Securities

U.S. Department of Housing

and Urban Development

Government National Mortgage Association

OMB Approval No. 2503-0033 (Exp. 11/30/2008)



Public reporting burden for this collection of information is estimated to average 1 minute per response, including the time for reviewing instructions, searching existing data sources, gathering and maintaining the data needed, and completing and reviewing the collection of information. This agency may not collect this information, and you are not required to complete this form, unless it displays a currently valid OMB control number.


The information is required by Sec. 306(g) of the National Housing Act or by Ginnie Mae Handbook 5500.3, Rev. 1, and is collected to assist Ginnie Mae in the determination of an appropriate commitment amount. The information will not be disclosed except as permitted by law.


Issuer ID Number



Issuer’s Name and Address, including Zip Code









fold line
















The Government National Mortgage Association (Ginnie Mae) has considered your application and approves guaranty commitment authority to your account in the total amount designated below, pursuant to the provisions of Section 306(g) of the National Housing Act and Ginnie Mae's regulations. Ginnie Mae will endorse, as guaranteed, securities which are backed by Ginnie Mae mortgage pools created subject to the following conditions:


1. The securities to be issued shall be modified pass-through securities. The monthly scheduled installments of principal and interest shall be paid to holders whether or not the issuer collects funds under the pooled mortgages equal to the scheduled installments.


$


2. The total amount of commitment authority approved is . Any request for additional commitment authority will be approved subject to Ginnie Mae's budget authority approved by Congress for the current fiscal year.


3. The guaranty fee rate for the issue of securities shall be the rate in effect at the date of issuance of the securities.


4. This commitment authority is requested for the following types of Ginnie Mae pools:

(Check One Only)


S


ingle-Line (SF, BD, AR, AQ, AT, AF, AS, AX, GP, GT, GA, GD, SN, MH)


M


ulti-Line (PN, PL, LM, RX, LS, CL, CS)


5. This commitment authority shall expire one year from the date of Ginnie Mae approval (2 years for project loan and construction loan pools).


6. The mortgages pooled under this and all other commitment authority shall meet all of the eligibility requirements set forth in the applicable Mortgage-Backed Securities Guide.


7. The issuer shall submit to Ginnie Mae the documents required by, and prepared and delivered in accordance with, the provisions of the Ginnie Mae Mortgage-Backed Securities Guide.


8. The formation of a Ginnie Mae mortgage pool or loan package, the issuance of mortgage-backed securities and the administration of a Ginnie Mae mortgage pool or loan package until the last outstanding mortgage in the pool or loan package is repaid or otherwise liquidated and securities are cancelled, shall be performed by the issuer in compliance with the provisions of Section 306(g) of the National Housing Act, applicable regulations, the Ginnie Mae Mortgage-Backed Securities Guide, and all applicable forms and agreements.


9. The issuer must meet all of Ginnie Mae's eligibility requirements, including net worth requirements, in effect at the time Ginnie Mae or its agent makes the securities ready for delivery.


10. The following additional conditions:



A uthorized Ginnie Mae Signature Date

form HUD-11704 (01/2006)

Submit an original and two copies. Previous editions are obsolete. ref. Ginnie Mae Handbook 5500.3, Rev.1


File Typeapplication/msword
File TitleAppendix II-2 Combined Guide Test
Author95 Workstation
Last Modified Byh05385
File Modified2007-05-01
File Created2007-05-01

© 2024 OMB.report | Privacy Policy