Ginnie Mae 5500.3, Rev. 1
Applicability: Ginnie Mae I MBS Program and Ginnie Mae II MBS Program. This form and these instructions should be used only by Issuers submitting pools in paper submission format. Issuers using GinnieNET to submit pools and loan packages must follow the instructions set forth on GinnieNET . HMBS pools may only be transmitted electronically through GinnieNET, using the file format described in Appendix III-28 for form HUD 11705H, Schedule of Subscribers and Ginnie Mae Guaranty Agreement.
Purpose: To establish the contract between the Issuer and Ginnie Mae and provide a listing of subscribers and other information needed to prepare MBS.
Prepared by: Issuer.
Prepared in: Quadruplicate. Three copies must be executed with original signatures.
Distribution: The Issuer must execute and provide to the PPA three copies for each pool. The Issuer must retain the fourth copy. Upon execution by the PPA on behalf of Ginnie Mae, the PPA will return one of the executed copies to the Issuer.
Completion
Instructions: The circled numbers on the illustrated form correspond with the numbers listed below. If more than one page is required to list the subscribers to a pool, all pages must be completed with all the required information listed below.
1. Enter the total number of pages required for listing all subscribers.
2. Enter the full legal name of the Issuer.
3. Enter the complete mailing address of the Issuer, including zip code.
4. Enter the pool employer identification number. See Section 10-9 of the Ginnie Mae MBS Guide.
5. Enter the Issuer ID number assigned by Ginnie Mae.
6. Enter the first day of the month of issue. Fill all otherwise unused spaces with 0’s, using the following format where, for example, the issue date is March 1, 2002: |0 |3| 0| 1| 0| 2|.
7. Enter the security index: “CMT” for the Constant Maturity Treasury Index or “LIB” for the London Interbank Offered Rate.
8. Enter the interest rate of the security carried out to three decimal places. Fill all otherwise unused spaces with 0’s, using the following format where, for example, the security rate is 9.5 percent: |0|9|5|0|0|.
8a. For AR, AQ, AT, AF, AS, AX, RL, QL, TL, FL, FB, SL or XL loan packages or pools, enter the security margin carried out to three decimal places. Fill all otherwise unused spaces with 0’s, using the following format where, for example, the security margin is 1.5 percent : |0|1|5|0|0|.
9. For Ginnie Mae I pools, enter the 15th day of the month following the month of issue. For Ginnie Mae II pools, enter the 20th day of the month following the month of issue. Follow the format specified in instruction 6 above for entering the date.
10. Enter .06 percent, i.e.: |0|0|0|6 for AR, AQ, AT, AF, AS, AX, RL, QL, TL, FL, FB, SL or XL, GP/GT, GA/GD, and SN pools, unless a lower fee is appropriate (see Section 6-2(C) of the Ginnie Mae MBS Guide); .30 percent, i.e.: |0|0|3|0 for MH pools; and .13 percent, i.e.: |0|0|1|3 for PL, PN, LM, LS, RX, CL, and CS pools.
11. DO NOT MAKE ANY ENTRY IN THIS SPACE. The PPA will complete this entry with the 4 digit multiple Issuer pool number once the pool is formed.
12. Enter the total unpaid balance of the mortgages included in the pool or loan package, without cents. For example, show $l,234,567.89 as $l,234,568.00.
13. Enter the final maturity date of securities. The date will depend upon the method used in establishing the pool, as follows:
(a) Under the concurrent dates method (CD) of pooling, the final maturity date of the securities is 15 days (under Ginnie Mae I) or 20 days (under Ginnie Mae II) after the due date of the last maturing pooled mortgage. Issuers must use this method for all Ginnie Mae II pools or loan packages except for manufactured home loan pools or loan packages (except in the case of conversions of Ginnie Mae I internal reserve pools to the Ginnie Mae II program.)
(b) Under the internal reserve method (IR) of pooling, the final maturity date of the securities is 45 days (under Ginnie Mae I) or 50 days (under Ginnie Mae II) after the due date of the last maturing pooled mortgage. The IR method must be used for manufactured home pools or loan packages under both the Ginnie Mae I and Ginnie Mae II programs.
Follow the format specified in instruction 6 above for entering the date.
14. Enter the number from the listing of pre-assigned pool numbers obtained from Ginnie Mae. If the pool is to be formed under Ginnie Mae I or is to be a custom pool under Ginnie Mae II, this number will refer to the Issuer’s pool. If the pooled mortgages are to become part of a multiple Issuer pool under Ginnie Mae II, this number will refer to the Issuer’s loan package number.
15. Enter type of issue using following codes:
Ginnie Mae I: X
Ginnie Mae II: Custom pool C
Ginnie Mae II: Multiple Issuer pool M
16. Enter the appropriate 2-letter code indicating program type: SF = Single-Family Level Payment; FS = Single-Family Level Payment (FHASecure Initiative); BD = Buydown; AR, AT, AF, AS, AX, AQ, RL, QL, TL, FL, FB, SL or XL = Adjustable Rate; GP or GT = Graduated Payment; GA or GD = Growing Equity; SN = Serial Note; MH = Manufactured Home; PL = Project Level Payment Loan; PN = Project Nonlevel Payment Loan; LM = Mature Project Loan; LS = Small Project Loan; RX = Project Mark-to-Market Loan; CL = Construction Loan; CS = Construction Loan-Split Interest Rate. PL, PN, LM, LS, RX, CL, CS, SN, and BD types are available only as part of the Ginnie Mae MBS I program, while the following designations, AR, AT, AF, AS, AX and AQ types are available only under the Ginnie Mae II MBS program.
17. Enter the principal and interest (P&I) custodial account number assigned by the financial institution maintaining the Issuer’s accounts for the corresponding pool/loan package.
18. Enter the ABA/Federal Routing Number of the financial institution that maintains the Issuer’s P&I custodial account(s) for the corresponding pool/loan package.
19. Enter the escrow custodial account number assigned by the financial institution maintaining the Issuer’s account(s) for the corresponding pool/loan package.
19a-c. Enter the escrow custodial account number assigned by the financial institution maintaining the Issuer’s account(s) for each special escrow custodial account, if any, that the Issuer is required to maintain, including without limitation, any account that the Issuer must use for the deposit of § 203(k) funds, § 184 funds, buydown funds provided by the Issuer, or funds associated with multifamily pools. The Issuer should indicate in writing above each special account number (19a, 19b or 19c) the nature of the funds that the escrow custodial account will be used for (e.g., “203(k),” “BD”).
20. Enter the ABA/Federal Routing Number of the financial institution that maintains the Issuer’s escrow accounts for the corresponding pool/loan package.
20a-c. Enter the corresponding ABA/Federal Routing Number for escrow accounts entered in 19a, 19b or 19c.
21. Enter the Issuer’s document custodian ID number assigned by the PPA for the corresponding pool/loan package.
22. If applicable, enter the Ginnie Mae Issuer ID number of the subcontract servicer of mortgages in the corresponding pool/loan package.
23. Entry needed only for “immediate pool issuance and transfer” transaction, in which case, enter the Ginnie Mae Issuer ID number of the buying Issuer.
24. Enter the depository Participant designated to take delivery of the security position. List the complete Participant’s name [and/or contra symbol.]
25. Enter any depository account information.
26. Blank for all issuances.
27. Blank for all issuances.
28. Enter total dollar amount of securities to be issued to each participant/subscriber. Follow the format specified in instruction 12 above.
29. For all securities, no certificate will be delivered to the depository, and the Issuer should enter “0”.
30. Enter the total amount of securities requested. The total amount shall be equal to the total unpaid principal balance of the underlying pooled mortgages (without cents). The amount must be the same as the amount listed in instruction 12 above.
31. Blank for all issuances.
32. Indicate the desired date of delivery of securities. Must conform with instructions in Section 12-6 of the Ginnie Mae MBS Guide.
If more than one page is required, complete this and the following sections on the last page only.
33. Signature of authorized officer whose name appears on Resolution of Board of Directors and Certificate of Authorized Signatures, form HUD 11702.
34. Print or type the full name of the authorized officer signing at 33.
35. Print or type the title of the authorized officer signing at 33.
36. Signature of attesting officer whose name appears on Resolution of Board of Directors and Certificate of Authorized Signatures, form HUD 11702 (Appendix I-2).
37. Print or type the full name of the authorized attesting officer signing at 36.
38. Print or type the title of the authorized attesting officer signing at 36.
39. Enter date of signature of authorized officers.
40. Affix corporate seal of Issuer. In those states where corporate seals are not recognized, Issuer should type “No corporate seal required.”
Date: 12/01/07
| File Type | application/vnd.openxmlformats-officedocument.wordprocessingml.document |
| File Title | Appendix III-6 Combined Guide Test |
| Author | 00426 |
| File Modified | 0000-00-00 |
| File Created | 2021-01-23 |