Ginnie Mae 5500.3, Rev. 1
Appendix
VI-10
Form HUD 11714 - Issuer’s Monthly Remittance Advice
Applicability: Ginnie Mae I MBS Program only.
Purpose: To provide summary information to the security holder with respect to the current month’s account transactions and calculation of the security holder’s pro rata share percentage of total cash distribution.
Prepared by: Issuer of the securities (or subcontract servicer). Form must be signed by the issuer.
Prepared in: Original only, and any copies issuer wishes to hold.
Distribution: Each security holder must receive this remittance advice no later than the l5th of the month. Delivery must be made in accordance with Note (3) below.
When the use of a form HUD 11714 is permitted, it may be sent along with the monthly payment of principal and interest. A machine printout giving the required data and explanations may be used provided that it has the same format as, and information required by, form HUD 11714.
Calculation: If there is more than one security holder in a pool, the payment due each security holder is based on the pro rata share percentage of each security holder multiplied by the total required payment (see Sections 15-4 of the Ginnie Mae MBS Guide). The pro rata share percentage is the original principal amount of the security holder’s securities divided by the original principal amount of the entire pool, carried out to eight decimal places.
Note:
(1) Under “Certificate Number,” the issuer should insert “N/A” if the security holder’s securities are held in book-entry form.
(2) For GPM securities, the amount entered on Line A may be negative. Such negative amounts represent deferrals of interest, which are added to the outstanding principal amount.
If the remittance is made in connection with GPM securities and the amount of interest actually disbursed is less than the calculated interest, the calculated interest should be entered in the right-hand column on Line B. after the “$”, and the amount actually disbursed should be entered just to the right of the words “Cash distribution due Security Holder for interest.”
(3) With respect to securities that are not held in book-entry form, issuers are required to transmit form HUD 11714 information monthly using GinnieNET. Issuers must also continue to deliver to each security holder each month either a hard copy form HUD 11714 or, with the security holder’s permission, the form HUD 11714 information in electronic form. An issuer that submits the form HUD 11714 information electronically is not required to send a hard copy form HUD 11714 to the security holder.
Issuers using GinnieNET to submit form HUD 11714 must follow the instructions in the GinnieNET Issuer Guide.
(4) The amount of principal reported on the form HUD 11714 (the total of the entries on lines A., C., and D.)) must be in agreement with the sum of all forms HUD 11710-A, Section 2.E. “(Total Principal (A through D),” for the reporting month, the amount “reported on the form HUD 11710-D for the reporting month, in Section 9, (Due Holders - Total Principal),” and the aggregate principal actually paid to security holders. Related interest amounts must also be in agreement.
The following is the file layout required for electronic submission of payment information. The file should be blocked at 4000 bytes, 6250 bpi density, fixed length 200 byte records.
Header:
Field Description |
Format |
Width |
Decimals |
Record ID |
C Value ‘H’ |
1 |
|
Issuer number |
I |
4 |
|
Issuer name |
C |
50 |
|
Security holder |
C |
30 |
|
*Payable Date (15th of Month) |
I |
6 |
|
*Creation Date |
I |
6 |
|
Filler |
C |
103 |
|
Detail:
Field Description |
Format |
Width |
Decimals |
Record ID |
C Value ‘D’ |
1 |
|
Pool Indicator |
C Value ‘X’, ‘C’ or ‘M’ |
1 |
|
Pool Number |
I |
6 |
|
Certificate |
C |
12 |
|
Interest rate |
N |
7 |
5 |
Pro Rata share % |
N |
11 |
8 |
Principal (A) |
N |
12 |
2 |
Interest (B) |
N |
12 |
2 |
Additional |
N |
12 |
2 |
Adjustments (D) |
N |
12 |
2 |
Federal Tax (E) |
N |
12 |
2 |
Total (F) |
N |
14 |
2 |
Balance (G) |
N |
16 |
2 |
Explanation |
C |
72 |
|
Trailer:
Field Description |
Format |
Width |
Decimals |
Record ID |
C Value ‘T” |
1 |
|
Record Count |
I |
8 |
|
Batch Amount Total |
N |
16 |
2 |
Filler |
C |
175 |
|
N = Signed numeric, implied decimal point
I = Unsigned integer
C = Character
This is the file layout in a COBOL compatible format; it is equivalent to the original file layout on the previous pages. Please note that the sign in the signed numeric fields should be represented as an overpunch in the rightmost (least significant) digit.
Header Record
01 HUD-HDR.
05 HDR-ID PIC X.
05 HDR-ISSUER PIC 9(4).
05 HDR-NAME PIC X(50).
05 HDR-HOLDER PIC X (30).
05 HDR-PAY-DATE PIC 9(6).
05 HDR-CREATE-DATE PIC 9(6).
05 FILLER PIC X(103).
Detail Record
01 HUD-DTL.
05 DTL-ID PIC X.
05 DTL-POOL-NO.
10 DTL-IND PIC X.
10 DTL-POOL PIC 9(6).
05 DTL-CERT PIC X(12).
05 DTL-RATE PIC S99V9(5).
05 DTL-PRS PIC S9(3) V9(8).
05 DTL-PRIN PIC S9(10) V99.
05 DTL-INT PIC S9(10) V99.
05 DTL-ADD PIC S9(10) V99.
05 DTL-ADJ PIC S9(10) V99.
05 DTL-FED PIC S9(10) V99.
05 DTL-TOT PIC S9(12) V99.
05 DTL-BAL PIC S9(14) V99.
05 DTL-EXPL PIC X(72).
Trailer Record
01 HUD-TLR.
05 TLR-ID PIC X.
05 TLR-COUNT PIC Z(8).
05 TLR-TOTAL PIC S9(14) V99.
05 FILLER PIC X(175).
Date: 01/01/06
| File Type | application/vnd.openxmlformats-officedocument.wordprocessingml.document |
| File Title | OFFICIAL App. VI-10 |
| Author | 00426 |
| File Modified | 0000-00-00 |
| File Created | 2021-10-04 |