source:
  type: regulation
  id: gnma-mbs-ch05
  authority: "Ginnie Mae MBS Guide Chapter 5 — Issuers: Risks and Liabilities"
  description: "GNMA MBS Guide Chapter 5 — Issuer risks and liabilities (full-and-timely\nsecurity-holder payment regardless of mortgagor performance, advances\nfrom corporate funds, defective-loan cure/replace/repurchase, tax and\ninsurance advance duty, cross-default, extinguishment, civil money\npenalties).\n"
obligations:
- id: gnma-mbs-ch05-advances-to-pay-security-holders
  canonical_id: gnma-mbs-ch05-advances-to-pay-security-holders
  section: "Ginnie Mae MBS Guide Ch. 5, Part 2, Section B — Advances to Pay Security Holders"
  description: 'Under both Ginnie Mae MBS Programs, [ISSUER] must pay security

    holders on time and in the full amount specified by the terms of

    the securities regardless of whether [ISSUER] receives mortgage

    payments on time or receives them at all. If pooled loans are

    delinquent or in foreclosure, [ISSUER] must use its own funds to

    insure that security holders receive principal and interest when due.

    '
  type: do
  audit_question: "For every monthly remittance under both Ginnie Mae MBS Programs, can [ISSUER] evidence that security holders received their full and timely scheduled payment regardless of whether mortgage payments on the pooled loans were received, with [ISSUER]’s own funds covering any shortfall for delinquent or foreclosing loans?"
  workflow_phase: servicing
  owner_role: default_servicing_analyst
  secondary_owner_role: compliance_officer
  cadence: monthly
  consequence: ''
  tags:
  - round-b
  - regulator-direct
  - gnma
  - mbs-guide
  - ch05
  - security-holder-payment
  - issuer-advances
  - promoted
  primary_source:
    tier: 1
    authority: "Ginnie Mae MBS Guide Chapter 5, Part 2, Section B — Advances to Pay Security Holders"
    source_class: gnma-mbs-guide
    source_url: https://www.ginniemae.gov/issuers/program_guidelines/MBSGuideLib/Chapter_05.pdf
    snapshot_id: 7e746988ec069a38
    fetched_at: '2026-05-23T00:30:00Z'
    content_hash: sha256:c101a54178203f0f328728acfa4487fdbef85b13fdc6544c9a7a46d9d1d894fc
    paragraph_quote: 'Under both Ginnie Mae MBS Programs an Issuer must pay security holders on time and in the '
    drafter_attestation: Copied verbatim from GNMA MBS Guide Chapter 5 snapshot 7e746988ec069a38 at 2026-05-23.
  promoted_at: '2026-05-23T01:32:22+00:00'
  promoted_from: gnma-mbs-ch05-roundb-v1.yaml
  program_review: Does the program ensure security holders are paid on time and in full per the security terms regardless of whether mortgage payments are received, using Issuer funds to cover shortfalls on delinquent/foreclosing loans?
  file_review: For each monthly remittance, confirm security holders received full timely scheduled payment, with Issuer funds covering any shortfall.
  judgment: false
- id: gnma-mbs-ch05-advance-t-and-i-shortfall
  canonical_id: gnma-mbs-ch05-advance-t-and-i-shortfall
  section: "Ginnie Mae MBS Guide Ch. 5, Part 2, Section J — Advances to Pay Taxes and Insurance Extinguishment"
  description: "If the mortgagor does not make full and timely payment of amounts\nrequired to pay taxes and insurance premiums, [ISSUER] must advance\nits own funds to make the payments when due — either to the escrow\ncustodial account or directly to the taxing authority or insurance\ncompany. If payment is made from the escrow custodial account,\ncorporate funds sufficient to cover the amount of the payment must\nbe placed in the escrow custodial account within one business day\nfollowing the payment.\n"
  type: do
  audit_question: For every pooled mortgage with a mortgagor shortfall on taxes or insurance, can [ISSUER] evidence (i) [ISSUER]-funded advance to pay taxes / insurance when due, and (ii) when escrow custodial account funds were used, corporate-fund replenishment within one business day following the payment?
  workflow_phase: servicing
  owner_role: escrow_analyst
  secondary_owner_role: default_servicing_analyst
  cadence: per-payment-shortfall
  consequence: ''
  tags:
  - round-b
  - regulator-direct
  - gnma
  - mbs-guide
  - ch05
  - tax-insurance-advances
  - escrow
  - promoted
  primary_source:
    tier: 1
    authority: "Ginnie Mae MBS Guide Chapter 5, Part 2, Section J — Advances to Pay Taxes and Insurance Extinguishment"
    source_class: gnma-mbs-guide
    source_url: https://www.ginniemae.gov/issuers/program_guidelines/MBSGuideLib/Chapter_05.pdf
    snapshot_id: 7e746988ec069a38
    fetched_at: '2026-05-23T00:30:00Z'
    content_hash: sha256:c101a54178203f0f328728acfa4487fdbef85b13fdc6544c9a7a46d9d1d894fc
    paragraph_quote: 'If the mortgagor does not make full and timely payment of amounts required to make payments '
    drafter_attestation: Copied verbatim from GNMA MBS Guide Chapter 5 snapshot 7e746988ec069a38 at 2026-05-23.
  promoted_at: '2026-05-23T01:32:22+00:00'
  promoted_from: gnma-mbs-ch05-roundb-v1.yaml
  program_review: Does the program ensure that on a mortgagor T&I shortfall the Issuer advances its own funds to pay taxes/insurance when due, and where escrow-custodial funds were used, replenishes corporate funds within one business day of payment?
  file_review: For T&I shortfalls, confirm Issuer-funded advances paid taxes/insurance when due and, where escrow funds were used, corporate replenishment within one business day.
  judgment: false
- id: gnma-mbs-ch05-tax-insurance-funds-segregated
  canonical_id: gnma-mbs-ch05-tax-insurance-funds-segregated
  section: "Ginnie Mae MBS Guide Ch. 5, Part 2, Section J — Advances to Pay Taxes and Insurance Extinguishment"
  description: 'Tax and insurance funds on deposit for a mortgagor cannot be used

    by [ISSUER] for any purpose other than the payment of that mortgagor''s

    taxes and insurance.

    '
  type: dont
  audit_question: "Can [ISSUER] evidence that tax and insurance funds on deposit for each mortgagor were not used for any purpose other than payment of that mortgagor’s taxes and insurance?"
  workflow_phase: servicing
  owner_role: escrow_analyst
  secondary_owner_role: compliance_officer
  cadence: continuous
  consequence: ''
  tags:
  - round-b
  - regulator-direct
  - gnma
  - mbs-guide
  - ch05
  - escrow-segregation
  - no-misappropriation
  - promoted
  primary_source:
    tier: 1
    authority: "Ginnie Mae MBS Guide Chapter 5, Part 2, Section J — Advances to Pay Taxes and Insurance Extinguishment"
    source_class: gnma-mbs-guide
    source_url: https://www.ginniemae.gov/issuers/program_guidelines/MBSGuideLib/Chapter_05.pdf
    snapshot_id: 7e746988ec069a38
    fetched_at: '2026-05-23T00:30:00Z'
    content_hash: sha256:c101a54178203f0f328728acfa4487fdbef85b13fdc6544c9a7a46d9d1d894fc
    paragraph_quote: 'Tax and insurance funds on deposit for a mortgagor cannot be used for any purpose other than '
    drafter_attestation: Copied verbatim from GNMA MBS Guide Chapter 5 snapshot 7e746988ec069a38 at 2026-05-23.
  promoted_at: '2026-05-23T01:32:22+00:00'
  promoted_from: gnma-mbs-ch05-roundb-v1.yaml
  program_review: Does the program ensure each mortgagor's deposited T&I funds are used only to pay that mortgagor's taxes and insurance?
  file_review: Review escrow-fund usage; confirm each mortgagor's T&I funds were not used for any other purpose.
  judgment: false
_promotion_history:
- promoted_at: '2026-05-23T01:31:37+00:00'
  candidate_path: obligations\_remediation\_round_b_drafts\gnma-mbs-ch05-roundb-v1.yaml
  candidates_promoted: 0
  candidates_skipped_existing: 0
- promoted_at: '2026-05-23T01:32:22+00:00'
  candidate_path: obligations\_remediation\_round_b_drafts\gnma-mbs-ch05-roundb-v1.yaml
  candidates_promoted: 3
  candidates_skipped_existing: 0
