source:
  type: regulation
  id: gnma-mbs-ch01
  authority: Ginnie Mae MBS Guide (5500.3, Rev. 1) Chapter 1 — General Features Of The Program
  description: "Ginnie Mae MBS Guide Chapter 1 (General Features Of The Program). New-source fetch + gap-fill (verbatim).\
    \ \n"
obligations:
- id: gnma-mbs-ch01-0
  canonical_id: gnma-mbs-ch01-0
  section: Ginnie Mae MBS Guide Chapter 1 — General Features Of The Program
  description: 'Ch.1 General Features Of The Program: : 2013-08-01 The Government National Mortgage Association
    (Ginnie Mae), through its Mortgage-Backed Securities (MBS) Programs, guarantees securities that are backed by
    pools of mortgages and issued by mortgage lenders (Issuers) approved by Ginnie Mae. Security holders receive
    a “…'
  type: do
  tags:
  - regulator-direct
  - gap-fill
  - gnma-mbs-guide
  - section-complete
  primary_source:
    tier: 1
    authority: Ginnie Mae MBS Guide (5500.3, Rev. 1) Chapter 1 — General Features Of The Program
    source_class: gnma-mbs-guide
    source_url: https://www.ginniemae.gov/issuers/program_guidelines/MBSGuideLib/Chapter_01.pdf
    snapshot_id: 35c41a187e7eae35
    fetched_at: '2026-06-18T00:00:00+00:00'
    content_hash: sha256:44ce7cf58d44f57fb1556c5269eb69c2e3ddc868193f4a0ebf765d0734739bf3
    paragraph_quote: ': 2013-08-01 The Government National Mortgage Association (Ginnie Mae), through its Mortgage-Backed
      Securities (MBS) Programs, guarantees securities that are backed by pools of mortgages and issued by mortgage
      lenders (Issuers) approved by Ginnie Mae. Security holders receive a “passthrough” of the principal and interest
      payments on a pool of mortgages, less amounts required to cover servicing costs and Ginnie Mae guaranty fees.
      The Ginnie Mae guaranty ensures that the security holder receives the timely payment of scheduled monthly
      principal and any unscheduled recoveries of principal on the underlying mortgages, plus interest at the rate
      provided for in the securities. If a borrower fails to make a timely payment on a mortgage, the Issuer must
      use its own funds to ensure that the security holders receive timely payment. If an Issuer fails to ensure
      that the funds necessary to make timely payment are available or otherwise defaults in the discharge of its
      responsibilities, Ginnie Mae, in accordance with its guaranty, will make payments to security holders. Ginnie
      Mae also guarantees Home Equity Conversion Mortgage (HECM) securities, hereinafter referred to as HMBS. HMBS
      are accrual coupon pass-through securities which perform differently than Ginnie Mae’s forward MBS pass-through
      securities. In addition to program requirements applicable to the forward MBS, HMBS Issuers must also meet
      special Program requirements found in MBS Guide, Ch. 35.'
    drafter_attestation: Verbatim paragraph from Ginnie Mae MBS Guide Chapter 1 PDF, snapshot 35c41a187e7eae35;
      substring-verified. New-source fetch.
  judgment: false
- id: gnma-mbs-ch01-1
  canonical_id: gnma-mbs-ch01-1
  section: Ginnie Mae MBS Guide Chapter 1 — General Features Of The Program
  description: 'Ch.1 General Features Of The Program: : 2013-08-01 Ginnie Mae has two MBS programs (the Programs):
    the Ginnie Mae I MBS Program for the issuance of securities backed by single family or multifamily loans and
    the Ginnie Mae II MBS Program for the issuance of securities backed by single family loans (MBS). In addition,…'
  type: do
  tags:
  - regulator-direct
  - gap-fill
  - gnma-mbs-guide
  - section-complete
  primary_source:
    tier: 1
    authority: Ginnie Mae MBS Guide (5500.3, Rev. 1) Chapter 1 — General Features Of The Program
    source_class: gnma-mbs-guide
    source_url: https://www.ginniemae.gov/issuers/program_guidelines/MBSGuideLib/Chapter_01.pdf
    snapshot_id: 35c41a187e7eae35
    fetched_at: '2026-06-18T00:00:00+00:00'
    content_hash: sha256:44ce7cf58d44f57fb1556c5269eb69c2e3ddc868193f4a0ebf765d0734739bf3
    paragraph_quote: ': 2013-08-01 Ginnie Mae has two MBS programs (the Programs): the Ginnie Mae I MBS Program
      for the issuance of securities backed by single family or multifamily loans and the Ginnie Mae II MBS Program
      for the issuance of securities backed by single family loans (MBS). In addition, the Ginnie Mae II MBS Program
      contains special provisions for the issuance of HMBS. This Guide describes, and provides instructions to,
      the participants in both Ginnie Mae MBS Programs. This Guide replaces the Ginnie Mae Mortgage-Backed Securities
      Guide 5500.3, issued November 1, 1999, which in turn replaced the Ginnie Mae Mortgage-Backed Securities Guide,
      Ginnie Mae 5500.1 (Ginnie Mae I MBS Guide) and the Ginnie Mae Mortgage-Backed Securities Guide, Handbook GNMA
      5500.2 (Ginnie Mae II MBS Guide). Any requirement in a document created under a Ginnie Mae MBS Program (including
      any Guaranty Agreement or Contractual Agreement), which document is in effect on the effective date of this
      Guide, that would otherwise require compliance with the Ginnie Mae Mortgage-Backed Securities Guide 5500.3,
      the Ginnie Mae I MBS Guide or the Ginnie Mae II MBS Guide on or after the effective date of this Guide shall
      be deemed to require, instead, compliance with this Guide as it may be amended from time to time. For example,
      a provision in a Contractual Agreement in effect on the effective date of this Guide that requires compliance,
      “as it shall be amended from time to time” after the date of the Contractual Agreement shall be deemed to
      require compliance with this Guide.'
    drafter_attestation: Verbatim paragraph from Ginnie Mae MBS Guide Chapter 1 PDF, snapshot 35c41a187e7eae35;
      substring-verified. New-source fetch.
  judgment: false
- id: gnma-mbs-ch01-2
  canonical_id: gnma-mbs-ch01-2
  section: Ginnie Mae MBS Guide Chapter 1 — General Features Of The Program
  description: 'Ch.1 General Features Of The Program: : 2013-08-01 Although the Ginnie Mae I and Ginnie Mae II MBS
    Programs are identical in many ways, there are several respects in which the features are unique to that Program.
    The most important features are described briefly in the following table and in greater detail in this or…'
  type: do
  tags:
  - regulator-direct
  - gap-fill
  - gnma-mbs-guide
  - section-complete
  primary_source:
    tier: 1
    authority: Ginnie Mae MBS Guide (5500.3, Rev. 1) Chapter 1 — General Features Of The Program
    source_class: gnma-mbs-guide
    source_url: https://www.ginniemae.gov/issuers/program_guidelines/MBSGuideLib/Chapter_01.pdf
    snapshot_id: 35c41a187e7eae35
    fetched_at: '2026-06-18T00:00:00+00:00'
    content_hash: sha256:44ce7cf58d44f57fb1556c5269eb69c2e3ddc868193f4a0ebf765d0734739bf3
    paragraph_quote: ': 2013-08-01 Although the Ginnie Mae I and Ginnie Mae II MBS Programs are identical in many
      ways, there are several respects in which the features are unique to that Program. The most important features
      are described briefly in the following table and in greater detail in this or subsequent chapters. When a
      requirement or instruction in this Guide does not indicate that it is applicable only to one Program or the
      other, the reader may assume that the requirement or instruction applies to both Programs.'
    drafter_attestation: Verbatim paragraph from Ginnie Mae MBS Guide Chapter 1 PDF, snapshot 35c41a187e7eae35;
      substring-verified. New-source fetch.
  judgment: false
- id: gnma-mbs-ch01-3
  canonical_id: gnma-mbs-ch01-3
  section: Ginnie Mae MBS Guide Chapter 1 — General Features Of The Program
  description: 'Ch.1 General Features Of The Program: , Rev. 1 1-2 ginniemae.gov GINNIE MAE I MBS PROGRAM GINNIE
    MAE II MBS PROGRAM Except in the case of securities backed by manufactured home loans, all of the mortgages
    in a pool must bear the same interest rate. The interest rates on the mortgages in a pool may vary. In addition
    t…'
  type: do
  tags:
  - regulator-direct
  - gap-fill
  - gnma-mbs-guide
  - section-complete
  primary_source:
    tier: 1
    authority: Ginnie Mae MBS Guide (5500.3, Rev. 1) Chapter 1 — General Features Of The Program
    source_class: gnma-mbs-guide
    source_url: https://www.ginniemae.gov/issuers/program_guidelines/MBSGuideLib/Chapter_01.pdf
    snapshot_id: 35c41a187e7eae35
    fetched_at: '2026-06-18T00:00:00+00:00'
    content_hash: sha256:44ce7cf58d44f57fb1556c5269eb69c2e3ddc868193f4a0ebf765d0734739bf3
    paragraph_quote: ', Rev. 1 1-2 ginniemae.gov GINNIE MAE I MBS PROGRAM GINNIE MAE II MBS PROGRAM Except in the
      case of securities backed by manufactured home loans, all of the mortgages in a pool must bear the same interest
      rate. The interest rates on the mortgages in a pool may vary. In addition to single family mortgages, one
      or more multifamily mortgages may be pooled. Only single family mortgages may be pooled. Each pool must be
      formed by a single Issuer. Single Family Pools may be formed by a single Issuer or by multiple Issuers. HECM
      pools must be formed by a single Issuer. All securities must bear a fixed rate of interest. Some securities
      may bear an adjustable rate of interest. The interest rate on both fixed rate and adjustable rate HMBS securities
      is the weighted average coupon of the interest rates on the underlying Participations. An Issuer may make
      a separate payment for each pool directly to each security holder of certificated securities of that pool.
      For example, a security holder that owns certificated securities of three Ginnie Mae I MBS pools may receive
      three payments each month. Each Issuer makes available funds in its central P&I custodial account for ACH
      withdrawal by the depository, as security holder of all book-entry securities, equal to the principal and
      interest due on such securities. A central paying and transfer agent (CPTA) collects payments from all Issuers
      and makes a single, consolidated pass-through payment to each MBS security holder each month. A security holder
      that owns securities of three Ginnie Mae II MBS pools would receive one payment each month. HMBS security
      holders shall receive payments under certain conditions which apply to accrual coupon pass-through securities.'
    drafter_attestation: Verbatim paragraph from Ginnie Mae MBS Guide Chapter 1 PDF, snapshot 35c41a187e7eae35;
      substring-verified. New-source fetch.
  judgment: false
- id: gnma-mbs-ch01-4
  canonical_id: gnma-mbs-ch01-4
  section: Ginnie Mae MBS Guide Chapter 1 — General Features Of The Program
  description: 'Ch.1 General Features Of The Program: The depository collects payments by ACH from the For securities
    held in book-entry form, the CPTA will Issuer’s central P&I custodial account on the 15th collect payments by
    ACH debit from the Issuer for day of each month or, if the 15th day is not a GNMA II securities at or afte…'
  type: do
  tags:
  - regulator-direct
  - gap-fill
  - gnma-mbs-guide
  - section-complete
  primary_source:
    tier: 1
    authority: Ginnie Mae MBS Guide (5500.3, Rev. 1) Chapter 1 — General Features Of The Program
    source_class: gnma-mbs-guide
    source_url: https://www.ginniemae.gov/issuers/program_guidelines/MBSGuideLib/Chapter_01.pdf
    snapshot_id: 35c41a187e7eae35
    fetched_at: '2026-06-18T00:00:00+00:00'
    content_hash: sha256:44ce7cf58d44f57fb1556c5269eb69c2e3ddc868193f4a0ebf765d0734739bf3
    paragraph_quote: The depository collects payments by ACH from the For securities held in book-entry form, the
      CPTA will Issuer’s central P&I custodial account on the 15th collect payments by ACH debit from the Issuer
      for day of each month or, if the 15th day is not a GNMA II securities at or after 7:00 a.m. Eastern business
      day on the next business day. Security Time on the 20th day of each month or, the next holders paid by check
      must receive the check from business day if the 20th calendar day is not a the Issuer by the 15th day of each
      month. business day. For securities held in certificated form, the CPTA shall collect pass-through payments
      by ACH debit at or after 7:00 a.m. Eastern Time on the 19th calendar day of the month. If the 19th calendar
      day is not a business day, then the applicable date is the 20th calendar day. If the 20th calendar day also
      is not a business day, then the applicable date is the business day immediately preceding the 19th calendar
      day of the month.
    drafter_attestation: Verbatim paragraph from Ginnie Mae MBS Guide Chapter 1 PDF, snapshot 35c41a187e7eae35;
      substring-verified. New-source fetch.
  judgment: false
- id: gnma-mbs-ch01-5
  canonical_id: gnma-mbs-ch01-5
  section: Ginnie Mae MBS Guide Chapter 1 — General Features Of The Program
  description: 'Ch.1 General Features Of The Program: , Rev. 1 1-3 ginniemae.gov With one type of securities, called
    “serial notes,” principal is paid consecutively on the securities. “Serial notes” are not issued. Principal
    on serial unit number 1 is paid in full before serial unit number 2 receives any principal, and so on. Sectio…'
  type: do
  tags:
  - regulator-direct
  - gap-fill
  - gnma-mbs-guide
  - section-complete
  primary_source:
    tier: 1
    authority: Ginnie Mae MBS Guide (5500.3, Rev. 1) Chapter 1 — General Features Of The Program
    source_class: gnma-mbs-guide
    source_url: https://www.ginniemae.gov/issuers/program_guidelines/MBSGuideLib/Chapter_01.pdf
    snapshot_id: 35c41a187e7eae35
    fetched_at: '2026-06-18T00:00:00+00:00'
    content_hash: sha256:44ce7cf58d44f57fb1556c5269eb69c2e3ddc868193f4a0ebf765d0734739bf3
    paragraph_quote: ', Rev. 1 1-3 ginniemae.gov With one type of securities, called “serial notes,” principal is
      paid consecutively on the securities. “Serial notes” are not issued. Principal on serial unit number 1 is
      paid in full before serial unit number 2 receives any principal, and so on. Section B. Pool and Loan Package
      Types'
    drafter_attestation: Verbatim paragraph from Ginnie Mae MBS Guide Chapter 1 PDF, snapshot 35c41a187e7eae35;
      substring-verified. New-source fetch.
  judgment: false
- id: gnma-mbs-ch01-6
  canonical_id: gnma-mbs-ch01-6
  section: Ginnie Mae MBS Guide Chapter 1 — General Features Of The Program
  description: 'Ch.1 General Features Of The Program: : 2021-10-29 A Ginnie Mae pool is categorized based on whether
    it (1) must be formed by a single Issuer or (2) may be formed by multiple Issuers. A Ginnie Mae I pool or a
    Ginnie Mae II “custom” pool must be originated and administered by a single Issuer. A Ginnie Mae II “multiple…'
  type: do
  tags:
  - regulator-direct
  - gap-fill
  - gnma-mbs-guide
  - section-complete
  primary_source:
    tier: 1
    authority: Ginnie Mae MBS Guide (5500.3, Rev. 1) Chapter 1 — General Features Of The Program
    source_class: gnma-mbs-guide
    source_url: https://www.ginniemae.gov/issuers/program_guidelines/MBSGuideLib/Chapter_01.pdf
    snapshot_id: 35c41a187e7eae35
    fetched_at: '2026-06-18T00:00:00+00:00'
    content_hash: sha256:44ce7cf58d44f57fb1556c5269eb69c2e3ddc868193f4a0ebf765d0734739bf3
    paragraph_quote: ': 2021-10-29 A Ginnie Mae pool is categorized based on whether it (1) must be formed by a
      single Issuer or (2) may be formed by multiple Issuers. A Ginnie Mae I pool or a Ginnie Mae II “custom” pool
      must be originated and administered by a single Issuer. A Ginnie Mae II “multiple Issuer” pool may be originated
      and administered by more than one Issuer. A Ginnie Mae pool is also categorized based on the type of mortgages
      that are pooled or, in one case, on the payment characteristics of the type of securities issued. The different
      categories of Ginnie Mae pools and loan packages are shown in the following tables. These pool types are discussed
      in more detail in MBS Guide, Ch. 9 and 24 through 32 and in MBS Guide, Ch. 35. Ginnie Mae I Pools: POOL TYPE
      SUFFIX Single Family Level Payment Mortgages X SF Buydown Mortgages X BD Graduated Payment Mortgages X GP
      or GT Growing Equity Mortgages X GA or GD Serial Notes (backed by Single Family, Level Payment Mortgages)
      X SN Project Loans X PL, PN, LM, LS or RX Construction Loans X CL or CS'
    drafter_attestation: Verbatim paragraph from Ginnie Mae MBS Guide Chapter 1 PDF, snapshot 35c41a187e7eae35;
      substring-verified. New-source fetch.
  judgment: false
- id: gnma-mbs-ch01-7
  canonical_id: gnma-mbs-ch01-7
  section: Ginnie Mae MBS Guide Chapter 1 — General Features Of The Program
  description: 'Ch.1 General Features Of The Program: , Rev. 1 1-4 ginniemae.gov Ginnie Mae II Pools and Loan Packages
    POOL TYPE SUFFIX Single Family Level Payment Mortgages Custom pool C SF Custom Re-Performing pool C RG Custom
    Extended Term pool C ET Custom Buydown Mortgages C BD Multiple-Issuer pool – Each loan package M SF Multi…'
  type: do
  tags:
  - regulator-direct
  - gap-fill
  - gnma-mbs-guide
  - section-complete
  primary_source:
    tier: 1
    authority: Ginnie Mae MBS Guide (5500.3, Rev. 1) Chapter 1 — General Features Of The Program
    source_class: gnma-mbs-guide
    source_url: https://www.ginniemae.gov/issuers/program_guidelines/MBSGuideLib/Chapter_01.pdf
    snapshot_id: 35c41a187e7eae35
    fetched_at: '2026-06-18T00:00:00+00:00'
    content_hash: sha256:44ce7cf58d44f57fb1556c5269eb69c2e3ddc868193f4a0ebf765d0734739bf3
    paragraph_quote: ', Rev. 1 1-4 ginniemae.gov Ginnie Mae II Pools and Loan Packages POOL TYPE SUFFIX Single Family
      Level Payment Mortgages Custom pool C SF Custom Re-Performing pool C RG Custom Extended Term pool C ET Custom
      Buydown Mortgages C BD Multiple-Issuer pool – Each loan package M SF Multiple Issuer pool – Each loan package
      M FS Multiple Issuer pool – Each loan package which contains certain high balance loans originated pursuant
      to the Economic Stimulus Act of 2008 M JM Adjustable Rate Mortgages: Custom Pool Suffix Options: Constant
      Maturity Treasury (CMT) Custom pool – 1-Yr ARM C AR Custom pool – 3-Yr ARM C AT Custom pool – 5-Yr ARM C AF
      or C FT Custom pool – 7-Yr ARM C AS Custom pool – 10-Yr ARM C AX Adjustable Rate Mortgages: Custom Pool Suffix
      Options: London Interbank Offered Rate (LIBOR) Custom pool – 1-Yr ARM C RL Custom pool – 3-Yr ARM C TL Custom
      pool – 5-Yr ARM C FL or C FB Custom pool – 7-Yr ARM C SL Custom pool – 10-Yr ARM C XL Adjustable Rate Mortgages:
      Multiple Issuer Pool Suffix Options: Constant Maturity Treasury (CMT) Multiple Issuer pool – 1-Yr ARM - Each
      loan package M AR or M AQ Multiple Issuer pool – 3-Yr hybrid ARM - Each loan package M AT Multiple Issuer
      pool – 5-Yr hybrid ARM - Each loan package M AF or M FT Multiple Issuer pool – 7-Yr hybrid ARM - Each loan
      package M AS Multiple Issuer pool –10-Yr hybrid ARM - Each loan package M AX Adjustable Rate Mortgages: Multiple
      Issuer Pool Suffix Options: London Interbank Offered Rate (LIBOR) Multiple Issuer pool – 1-Yr ARM - Each loan
      package M RL Multiple Issuer pool – 3-Yr hybrid ARM - Each loan package M TL Multiple Issuer pool – 5-Yr hybrid
      ARM - Each loan package M FL or M FB Multiple Issuer pool – 7-Yr hybrid ARM - Each loan package M SL Multiple
      Issuer pool –10-Yr hybrid ARM - Each loan package M XL Graduated Payment Mortgages Custom pool C GP or GT
      Multiple Issuer pool - Each loan package M GP or GT Growing Equity Mortgages Custom pool C GA or GD Multiple
      Issuer pool - Each loan package M GA or GD Manufactured Home Loans Custom pool C MH Home Equity Conversion
      Mortgage Loans (HECM) Custom Pool – Fixed Rate H RF Custom pool – 1-YR ARM, CMT Index H RA'
    drafter_attestation: Verbatim paragraph from Ginnie Mae MBS Guide Chapter 1 PDF, snapshot 35c41a187e7eae35;
      substring-verified. New-source fetch.
  judgment: false
- id: gnma-mbs-ch01-8
  canonical_id: gnma-mbs-ch01-8
  section: Ginnie Mae MBS Guide Chapter 1 — General Features Of The Program
  description: 'Ch.1 General Features Of The Program: , Rev. 1 1-5 ginniemae.gov Custom pool – Monthly Adjustable
    ARM, CMT Index H RM Custom pool – 1-Yr ARM, LIBOR Index H AL Custom pool – Monthly Adjustable ARM, LIBOR Index
    H ML'
  type: do
  tags:
  - regulator-direct
  - gap-fill
  - gnma-mbs-guide
  - section-complete
  primary_source:
    tier: 1
    authority: Ginnie Mae MBS Guide (5500.3, Rev. 1) Chapter 1 — General Features Of The Program
    source_class: gnma-mbs-guide
    source_url: https://www.ginniemae.gov/issuers/program_guidelines/MBSGuideLib/Chapter_01.pdf
    snapshot_id: 35c41a187e7eae35
    fetched_at: '2026-06-18T00:00:00+00:00'
    content_hash: sha256:44ce7cf58d44f57fb1556c5269eb69c2e3ddc868193f4a0ebf765d0734739bf3
    paragraph_quote: ', Rev. 1 1-5 ginniemae.gov Custom pool – Monthly Adjustable ARM, CMT Index H RM Custom pool
      – 1-Yr ARM, LIBOR Index H AL Custom pool – Monthly Adjustable ARM, LIBOR Index H ML'
    drafter_attestation: Verbatim paragraph from Ginnie Mae MBS Guide Chapter 1 PDF, snapshot 35c41a187e7eae35;
      substring-verified. New-source fetch.
  judgment: false
- id: gnma-mbs-ch01-9
  canonical_id: gnma-mbs-ch01-9
  section: Ginnie Mae MBS Guide Chapter 1 — General Features Of The Program
  description: 'Ch.1 General Features Of The Program: : 2013-08-01 Ginnie Mae maintains a web site at “http://www.ginniemae.gov/”.
    Users can find this Guide and accompanying Appendices on the web site, as well as All Participants Memoranda
    (“APM”) issued by Ginnie Mae. From time to time, these memoranda will contain important policy…'
  type: do
  tags:
  - regulator-direct
  - gap-fill
  - gnma-mbs-guide
  - section-complete
  primary_source:
    tier: 1
    authority: Ginnie Mae MBS Guide (5500.3, Rev. 1) Chapter 1 — General Features Of The Program
    source_class: gnma-mbs-guide
    source_url: https://www.ginniemae.gov/issuers/program_guidelines/MBSGuideLib/Chapter_01.pdf
    snapshot_id: 35c41a187e7eae35
    fetched_at: '2026-06-18T00:00:00+00:00'
    content_hash: sha256:44ce7cf58d44f57fb1556c5269eb69c2e3ddc868193f4a0ebf765d0734739bf3
    paragraph_quote: ': 2013-08-01 Ginnie Mae maintains a web site at “http://www.ginniemae.gov/”. Users can find
      this Guide and accompanying Appendices on the web site, as well as All Participants Memoranda (“APM”) issued
      by Ginnie Mae. From time to time, these memoranda will contain important policy changes (amendments) to the
      Ginnie Mae Guide. The Ginnie Mae web site also contains a broad range of other information, including descriptions
      of Ginnie Mae programs, guidance for Issuers, investor news, and financial reports.'
    drafter_attestation: Verbatim paragraph from Ginnie Mae MBS Guide Chapter 1 PDF, snapshot 35c41a187e7eae35;
      substring-verified. New-source fetch.
  judgment: false
- id: gnma-mbs-ch01-10
  canonical_id: gnma-mbs-ch01-10
  section: Ginnie Mae MBS Guide Chapter 1 — General Features Of The Program
  description: 'Ch.1 General Features Of The Program: : 2013-08-01 Ginnie Mae is a wholly-owned corporate instrumentality
    of the United States and is located within the Department of Housing and Urban Development. Its powers are prescribed
    generally by Title III of the National Housing Act, as amended, Pub. L. 73-479, codified at 12…'
  type: do
  tags:
  - regulator-direct
  - gap-fill
  - gnma-mbs-guide
  - section-complete
  primary_source:
    tier: 1
    authority: Ginnie Mae MBS Guide (5500.3, Rev. 1) Chapter 1 — General Features Of The Program
    source_class: gnma-mbs-guide
    source_url: https://www.ginniemae.gov/issuers/program_guidelines/MBSGuideLib/Chapter_01.pdf
    snapshot_id: 35c41a187e7eae35
    fetched_at: '2026-06-18T00:00:00+00:00'
    content_hash: sha256:44ce7cf58d44f57fb1556c5269eb69c2e3ddc868193f4a0ebf765d0734739bf3
    paragraph_quote: ': 2013-08-01 Ginnie Mae is a wholly-owned corporate instrumentality of the United States and
      is located within the Department of Housing and Urban Development. Its powers are prescribed generally by
      Title III of the National Housing Act, as amended, Pub. L. 73-479, codified at 12 U.S.C. 1716 et seq. Ginnie
      Mae is authorized by section 306(g) of the National Housing Act to guarantee the timely payment of principal
      and interest on securities that are based on and backed by trusts or pools composed of mortgages that are
      insured or guaranteed by the Federal Housing Administration (FHA), the Department of Agriculture under the
      Rural Development (RD) program, the Department of Veterans Affairs (VA), or guaranteed by the Secretary of
      Housing and Urban Development under section 184 of the Housing and Community Development Act of 1992 and administered
      by the Office of Public and Indian Housing (PIH). Ginnie Mae’s guaranty of MBS is backed by the full faith
      and credit of the United States. Ginnie Mae is authorized to conduct its business in any State of the United
      States, the District of Columbia, the Commonwealth of Puerto Rico and possessions of the United States. The
      MBS functions of Ginnie Mae are carried out principally through its office located at 451 Seventh Street,
      S.W., Washington, D.C. 20410. Inquiries concerning MBS should be directed to the Office of Issuer & Portfolio
      Management, at that address (see the document entitled “Addresses” (Addresses), which is found following the
      Glossary), or as otherwise directed throughout this Guide.'
    drafter_attestation: Verbatim paragraph from Ginnie Mae MBS Guide Chapter 1 PDF, snapshot 35c41a187e7eae35;
      substring-verified. New-source fetch.
  judgment: false
- id: gnma-mbs-ch01-11
  canonical_id: gnma-mbs-ch01-11
  section: Ginnie Mae MBS Guide Chapter 1 — General Features Of The Program
  description: 'Ch.1 General Features Of The Program: : 2013-08-01 Ginnie Mae’s guaranty, which is applicable with
    respect to all Ginnie Mae MBS and HMBS, is included in the terms of each uncertificated Ginnie Mae MBS and appears
    on the face of each certificated Ginnie Mae MBS as follows: GUARANTY: The undersigned, pursuant to Secti…'
  type: do
  tags:
  - regulator-direct
  - gap-fill
  - gnma-mbs-guide
  - section-complete
  primary_source:
    tier: 1
    authority: Ginnie Mae MBS Guide (5500.3, Rev. 1) Chapter 1 — General Features Of The Program
    source_class: gnma-mbs-guide
    source_url: https://www.ginniemae.gov/issuers/program_guidelines/MBSGuideLib/Chapter_01.pdf
    snapshot_id: 35c41a187e7eae35
    fetched_at: '2026-06-18T00:00:00+00:00'
    content_hash: sha256:44ce7cf58d44f57fb1556c5269eb69c2e3ddc868193f4a0ebf765d0734739bf3
    paragraph_quote: ': 2013-08-01 Ginnie Mae’s guaranty, which is applicable with respect to all Ginnie Mae MBS
      and HMBS, is included in the terms of each uncertificated Ginnie Mae MBS and appears on the face of each certificated
      Ginnie Mae MBS as follows: GUARANTY: The undersigned, pursuant to Section 306(g) of the National Housing Act,
      hereby guarantees to the registered holder thereof the timely payment of principal and interest set forth
      in the above instrument, subject only to the terms and conditions thereof. The full faith and credit of the
      United'
    drafter_attestation: Verbatim paragraph from Ginnie Mae MBS Guide Chapter 1 PDF, snapshot 35c41a187e7eae35;
      substring-verified. New-source fetch.
  judgment: false
- id: gnma-mbs-ch01-12
  canonical_id: gnma-mbs-ch01-12
  section: Ginnie Mae MBS Guide Chapter 1 — General Features Of The Program
  description: 'Ch.1 General Features Of The Program: _______________________________________ States is pledged
    to the payment of all amounts which may be required to be paid under this guaranty. GOVERNMENT NATIONAL MORTGAGE
    ASSOCIATION By:'
  type: do
  tags:
  - regulator-direct
  - gap-fill
  - gnma-mbs-guide
  - section-complete
  primary_source:
    tier: 1
    authority: Ginnie Mae MBS Guide (5500.3, Rev. 1) Chapter 1 — General Features Of The Program
    source_class: gnma-mbs-guide
    source_url: https://www.ginniemae.gov/issuers/program_guidelines/MBSGuideLib/Chapter_01.pdf
    snapshot_id: 35c41a187e7eae35
    fetched_at: '2026-06-18T00:00:00+00:00'
    content_hash: sha256:44ce7cf58d44f57fb1556c5269eb69c2e3ddc868193f4a0ebf765d0734739bf3
    paragraph_quote: '_______________________________________ States is pledged to the payment of all amounts which
      may be required to be paid under this guaranty. GOVERNMENT NATIONAL MORTGAGE ASSOCIATION By:'
    drafter_attestation: Verbatim paragraph from Ginnie Mae MBS Guide Chapter 1 PDF, snapshot 35c41a187e7eae35;
      substring-verified. New-source fetch.
  judgment: false
- id: gnma-mbs-ch01-13
  canonical_id: gnma-mbs-ch01-13
  section: Ginnie Mae MBS Guide Chapter 1 — General Features Of The Program
  description: 'Ch.1 General Features Of The Program: : 2013-08-01 Each MBS guaranteed by Ginnie Mae provides for
    the timely payment to the security holder, whether or not those funds have been collected by the Issuer, of
    scheduled principal installments due on the pooled mortgages as well as prepayments or other unscheduled recover…'
  type: do
  tags:
  - regulator-direct
  - gap-fill
  - gnma-mbs-guide
  - section-complete
  primary_source:
    tier: 1
    authority: Ginnie Mae MBS Guide (5500.3, Rev. 1) Chapter 1 — General Features Of The Program
    source_class: gnma-mbs-guide
    source_url: https://www.ginniemae.gov/issuers/program_guidelines/MBSGuideLib/Chapter_01.pdf
    snapshot_id: 35c41a187e7eae35
    fetched_at: '2026-06-18T00:00:00+00:00'
    content_hash: sha256:44ce7cf58d44f57fb1556c5269eb69c2e3ddc868193f4a0ebf765d0734739bf3
    paragraph_quote: ': 2013-08-01 Each MBS guaranteed by Ginnie Mae provides for the timely payment to the security
      holder, whether or not those funds have been collected by the Issuer, of scheduled principal installments
      due on the pooled mortgages as well as prepayments or other unscheduled recoveries of principal due or received
      on the mortgages. Each security also provides for payment to the security holder of interest on the unpaid
      principal balance of the security at the prescribed rate on the security. In the case of delinquent mortgages,
      the Issuer is required to make advances from its own funds, if necessary, in order to ensure that required
      interest and principal are paid to security holders. Ginnie Mae MBS, other than serial notes, are issued in
      minimum denominations of $1,000 and multiples of $1 in excess of $1,000. Serial notes, which are issued only
      under the Ginnie Mae I MBS Program, are issued in denominations divisible by $25,000, except that one unit
      in each issue may be issued in a denomination greater than $25,000 but less than $50,000. Ginnie Mae I MBS
      mature on the 15th day of the month in which the mortgage with the latest maturity in the related pool matures.
      Ginnie Mae II MBS mature on the 20th day of the month in which the mortgage with the latest maturity in the
      related pool matures.'
    drafter_attestation: Verbatim paragraph from Ginnie Mae MBS Guide Chapter 1 PDF, snapshot 35c41a187e7eae35;
      substring-verified. New-source fetch.
  judgment: false
