source:
  type: regulation
  id: gnma-mbs-ch09
  authority: "Ginnie Mae MBS Guide Chapter 9 — Eligible Mortgages, Pools and Loan Packages"
  description: "GNMA MBS Guide Chapter 9 — mortgage and pool / loan-package eligibility\n(federal insurance / guaranty, High Balance Loan limits, first-payment\nand amortization windows, loan-status-at-pooling delinquency cap,\nencumbrance prohibition, planned-refinance and premium-loan pooling\nprohibitions, MERS registration mechanics).\n"
obligations:
- id: gnma-mbs-ch09-insurance-guaranty-each-mortgage
  canonical_id: gnma-mbs-ch09-insurance-guaranty-each-mortgage
  section: "Ginnie Mae MBS Guide Ch. 9, Part 2, Section A — Insurance / Guaranty"
  description: 'Each mortgage that [ISSUER] pools must be, and must remain, insured

    or guaranteed under the National Housing Act, Title V of the Housing

    Act of 1949, the Servicemen''s Readjustment Act of 1944, chapter 37

    of Title 38, United States Code, or section 184 of the Housing and

    Community Development Act of 1992, and must at all times comply with

    the requirements for obtaining and maintaining such insurance or

    guaranty.

    '
  type: do
  audit_question: For every pooled mortgage, can [ISSUER] evidence that the mortgage is, and remains, insured or guaranteed under a Chapter 9 Part 2 Section A named federal program and complies with the requirements for obtaining and maintaining such insurance or guaranty?
  workflow_phase: secondary-marketing
  owner_role: secondary_marketing
  secondary_owner_role: compliance_officer
  cadence: per-pool
  consequence: ''
  tags:
  - round-b
  - regulator-direct
  - gnma
  - mbs-guide
  - ch09
  - insurance-guaranty
  - mortgage-eligibility
  - promoted
  primary_source:
    tier: 1
    authority: "Ginnie Mae MBS Guide Chapter 9, Part 2, Section A — Insurance / Guaranty"
    source_class: gnma-mbs-guide
    source_url: https://www.ginniemae.gov/issuers/program_guidelines/MBSGuideLib/Chapter_09.pdf
    snapshot_id: 29eef0630ea24e80
    fetched_at: '2026-05-23T00:30:00Z'
    content_hash: sha256:2224fab7b30b26a4aa66d59b2fad2dade240a4fa551b83aebbd9bddacca642ac
    paragraph_quote: 'Each mortgage must be, and must remain, insured or guaranteed under the National Housing '
    drafter_attestation: Copied verbatim from GNMA MBS Guide Chapter 9 snapshot 29eef0630ea24e80 at 2026-05-23.
  promoted_at: '2026-05-23T01:32:22+00:00'
  promoted_from: gnma-mbs-ch09-roundb-v1.yaml
  program_review: Does the program ensure each pooled mortgage is, and remains, insured/guaranteed under a Section A named federal program (National Housing Act; Title V of Housing Act of 1949; Servicemen's Readjustment Act; 38 USC ch.37; section 184), complying with the insurance/guaranty requirements at all times?
  file_review: For pooled mortgages, confirm continuing insurance/guaranty under a named program and compliance with maintenance requirements.
  judgment: false
- id: gnma-mbs-ch09-no-encumbrance-on-pooled-mortgages
  canonical_id: gnma-mbs-ch09-no-encumbrance-on-pooled-mortgages
  section: "Ginnie Mae MBS Guide Ch. 9, Part 2, Section F — Limitation against Encumbrances"
  description: 'At the time the assignments to Ginnie Mae become effective (i.e.,

    when the securities are issued to the subscribers designated on the

    Schedule of Subscribers and Ginnie Mae Guaranty Agreement, form

    HUD 11705), the pooled mortgages must not be subject to any security

    interest, beneficial interest, or other encumbrance arising from any

    previous or future assignment, pledge, hypothecation or transfer of

    [ISSUER]''s right, title, and interest in and to the mortgages.

    '
  type: dont
  audit_question: "Can [ISSUER] evidence that, at the time the assignments to Ginnie Mae became effective for each pool, the pooled mortgages were not subject to any security interest, beneficial interest, or other encumbrance arising from any previous or future assignment, pledge, hypothecation, or transfer of the Issuer’s right, title, and interest?"
  workflow_phase: secondary-marketing
  owner_role: secondary_marketing
  secondary_owner_role: compliance_officer
  cadence: per-pool
  consequence: ''
  tags:
  - round-b
  - regulator-direct
  - gnma
  - mbs-guide
  - ch09
  - no-encumbrance
  - pool-eligibility
  - promoted
  primary_source:
    tier: 1
    authority: "Ginnie Mae MBS Guide Chapter 9, Part 2, Section F — Limitation against Encumbrances"
    source_class: gnma-mbs-guide
    source_url: https://www.ginniemae.gov/issuers/program_guidelines/MBSGuideLib/Chapter_09.pdf
    snapshot_id: 29eef0630ea24e80
    fetched_at: '2026-05-23T00:30:00Z'
    content_hash: sha256:2224fab7b30b26a4aa66d59b2fad2dade240a4fa551b83aebbd9bddacca642ac
    paragraph_quote: At the time the assignments to Ginnie Mae become effective (i.e., when the securities are
    drafter_attestation: Copied verbatim from GNMA MBS Guide Chapter 9 snapshot 29eef0630ea24e80 at 2026-05-23.
  promoted_at: '2026-05-23T01:32:22+00:00'
  promoted_from: gnma-mbs-ch09-roundb-v1.yaml
  program_review: Does the program ensure that when assignments to Ginnie Mae become effective (securities issued per HUD 11705), pooled mortgages are free of any security/beneficial interest or other encumbrance from any prior or future assignment/pledge/hypothecation/transfer of the Issuer's interest?
  file_review: For each pool, confirm the pooled mortgages were unencumbered when the assignments to Ginnie Mae became effective.
  judgment: false
- id: gnma-mbs-ch09-no-planned-refinance-or-premium-pooling
  canonical_id: gnma-mbs-ch09-no-planned-refinance-or-premium-pooling
  section: "Ginnie Mae MBS Guide Ch. 9, Part 2, Section G — Prohibition on Pooling of Planned Refinance and Certain Premium Loans"
  description: '[ISSUER] must not pool planned refinance loans or certain premium

    interest rate loans (as defined in Chapter 9 Part 2 Section G).

    The chapter defines a planned refinance loan as a premium loan the

    lender and borrower have agreed to refinance at a later date at a

    lower rate, and a premium loan as a pooled mortgage on a 1- to 4-

    family dwelling originated or refinanced at least 1.5 percentage

    points (150 basis points) higher than the rate on new Ginnie Mae

    securities valued closest to par on the rate-set date.

    '
  type: dont
  audit_question: Can [ISSUER] evidence that no planned refinance loan, and no premium interest rate loan that does not satisfy the Chapter 9 Part 2 Section G excess-proceeds and refinance-spread tests, was pooled in any of its Ginnie Mae MBS pools or loan packages?
  workflow_phase: secondary-marketing
  owner_role: secondary_marketing
  secondary_owner_role: compliance_officer
  cadence: per-pool
  consequence: ''
  tags:
  - round-b
  - regulator-direct
  - gnma
  - mbs-guide
  - ch09
  - planned-refinance-prohibition
  - premium-loan-prohibition
  - promoted
  primary_source:
    tier: 1
    authority: "Ginnie Mae MBS Guide Chapter 9, Part 2, Section G — Prohibition on Pooling of Planned Refinance and Certain Premium Loans"
    source_class: gnma-mbs-guide
    source_url: https://www.ginniemae.gov/issuers/program_guidelines/MBSGuideLib/Chapter_09.pdf
    snapshot_id: 29eef0630ea24e80
    fetched_at: '2026-05-23T00:30:00Z'
    content_hash: sha256:2224fab7b30b26a4aa66d59b2fad2dade240a4fa551b83aebbd9bddacca642ac
    paragraph_quote: "It is Ginnie Mae’s policy to prohibit the pooling of planned refinance loans and certain premium "
    drafter_attestation: Copied verbatim from GNMA MBS Guide Chapter 9 snapshot 29eef0630ea24e80 at 2026-05-23.
  promoted_at: '2026-05-23T01:32:22+00:00'
  promoted_from: gnma-mbs-ch09-roundb-v1.yaml
  program_review: Does the program ensure no planned refinance loan, and no premium-rate loan failing the Section G excess-proceeds/refinance-spread (≥150 bps over par-closest new-security rate) tests, is pooled?
  file_review: Spot-check pooled loans for any planned-refinance or non-conforming premium loan; confirm none was pooled.
  judgment: false
_promotion_history:
- promoted_at: '2026-05-23T01:31:38+00:00'
  candidate_path: obligations\_remediation\_round_b_drafts\gnma-mbs-ch09-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-ch09-roundb-v1.yaml
  candidates_promoted: 3
  candidates_skipped_existing: 0
