Appendix III-21 Certification Requirements for the Pooling of Multifamil

Ginnie Mae 5500.3, Rev. 1

Appendix III-21
Certification Requirements for the Pooling
of Multifamily Mature Loan Program

OMB Approval No. 2503-0033 (Exp. 00/00/0000)

Public reporting burden for this information collection is estimated to average 2 minutes per response, including the time for reviewing instructions, searching existing data sources, gathering and maintaining the data as 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 Ginnie Mae Handbook 5500.3, Rev. 1. Information is required by Ginnie Mae for processing of a mature loan in a multifamily pool.

Applicability: Ginnie Mae I MBS Program only.

At the time of submission of an application for pooling a multifamily mature loan program mortgage, the Issuer must submit the following Certification, along with all other required pooling documentation:

(TO BE SUBMITTED ON ISSUER LETTERHEAD)

CERTIFICATION FOR POOLING A MULTIFAMILY MATURE
LOAN PROGRAM MORTGAGE

FEDERAL HOUSING ADMINISTRATION PROJECT NUMBER __________________

PROPOSED POOL NUMBER ________________________

PROJECT NAME ________________________________

PROJECT LOCATION ___________________________

GINNIE MAE ISSUER NUMBER ____________________

I, the undersigned, do certify:

1. The contract of Mortgage Insurance with the Federal Housing Administration is in full force.

2. The mortgage is Fully Insured by the Federal Housing Administration and not subject to a Coinsurance Mortgage contract.

3. Unless subject to a current modification approved by the Federal Housing Administration, the project has had sustained occupancy of at least 90 percent, for the last 24 months. (Audited financial statements)

4. Unless subject to a current modification approved by the Federal Housing Administration, the mortgage has been current monthly through principal, interest, and all escrows, including the Reserve for Replacement account, for the past 24 months. (Servicing records and audited financial reports)

5. Unless subject to a current modification approved by the Federal Housing Administration, the project’s Reserve for Replacement account is funded to an amount of at least 24 monthly payments. (Servicing records and Regulatory Agreement)

6. Unless subject to a current modification approved by the Federal Housing Administration, the most current project physical inspection performed denotes a rating of satisfactory or higher, and all required repairs have been made and inspected by the mortgagee and determined to be satisfactory. (Project physical inspection)

7. If the mortgaged property is subject to a project-based rental subsidy contract, the loan has been marked-to-market by HUD. (Servicing records and legal file)

8. Unless subject to a current modification approved by the Federal Housing Administration, the project has a minimum Debt Service Coverage of 117 percent. (Audited financial report)

“WARNING: It is a crime to knowingly make false statements to a Federal Agency. Penalties upon conviction can include a fine and imprisonment. For details, see Title 18, U.S. Code 1001 and 1010.”

Name of Issuer Authorized Officer

Date

Date: 01/01/06 3 Appendix III-21