source:
  type: regulation
  id: gnma-mbs-ch26
  authority: Ginnie Mae MBS Guide (5500.3, Rev. 1) Chapter 26 — Adjustable Rate Mortgage Pools And Loan Packages
  description: "Ginnie Mae MBS Guide Chapter 26 (Adjustable Rate Mortgage Pools And Loan Packages). New-source fetch\
    \ + gap-fill (verbatim). \n"
obligations:
- id: gnma-mbs-ch26-0
  canonical_id: gnma-mbs-ch26-0
  section: Ginnie Mae MBS Guide Chapter 26 — Adjustable Rate Mortgage Pools And Loan Packages
  description: 'Ch.26 Adjustable Rate Mortgage Pools And Loan Packages: : 2026-02-26 This chapter describes special
    requirements that apply to a pool or loan package of adjustable rate mortgages (“ARMs”). The requirements described
    in this chapter may modify, supplement or in some cases repeat, for the purpose of emphasis, those set forth
    in previous…'
  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 26 — Adjustable Rate Mortgage Pools And Loan Packages
    source_class: gnma-mbs-guide
    source_url: https://www.ginniemae.gov/issuers/program_guidelines/MBSGuideLib/Chapter_26.pdf
    snapshot_id: cfe2045410bda0a1
    fetched_at: '2026-06-18T00:00:00+00:00'
    content_hash: sha256:70730a1a7caf013f874ac88a52a76a9a75725122a5edffc93a6b64013ae554df
    paragraph_quote: ': 2026-02-26 This chapter describes special requirements that apply to a pool or loan package
      of adjustable rate mortgages (“ARMs”). The requirements described in this chapter may modify, supplement or
      in some cases repeat, for the purpose of emphasis, those set forth in previous chapters. Included among these
      changes are the following: mortgage eligibility, pool and loan package requirements, required pool and loan
      package submission documents, securities marketing disclosures, mortgage and security interest rates, and
      the administration of pools and loan packages. Applicable pooling requirements for adjustable rate Home Equity
      Conversion Mortgage loans can be found in MBS Guide, Ch. 35. Ginnie Mae will securitize eligible 1-Year ARMs
      and hybrid ARMs with initial interest rate periods of 3, 5, 7, and 10 years and based upon the Constant Maturity
      Treasury (CMT) index. The custom pool suffix options for use with the CMT index may be either “C AR”. “C AT”,
      “C AF”, “C FT”, “C AS”, or “C AX”, while the multiple Issuer pool suffix may be “M AR”, “M AQ”, “M AT”, “M
      AF”, “M FT”, “M AS”, or “M AX”. These pool and loan package types may be collectively referred to as “ARM”
      pools or loan packages. Ginnie Mae stopped accepting the delivery of LIBOR-based single-family forward Adjustable
      Rate Mortgages (ARM) January 1, 2021. This also included LIBOR-based ARM-to-ARM loan modifications and re-performing
      LIBOR-based ARMs for securitization into any pool type that relied on LIBOR. Forward ARMs that rely on the
      Constant Maturity Treasury (CMT) index will not be affected by this restriction. Single-family forward ARMs
      in existing legacy LIBOR based pools will convert to the London Stock Exchange Group (LSEG) USD LIBOR Cash
      Fallback based on the Chicago Mercantile Exchange (CME) Group’s Term SOFR rate plus the applicable spread
      adjustment, effective with their first index determination date after June 30, 2023. As the ARM loans can
      have different periodic adjustment dates, the existing pools will not be fully transitioned to the SOFR index
      until July 1, 2024. References to LIBOR based pools and ARMs are retained in this chapter to communicate relevant
      requirements for the existing legacy LIBOR based pools, such as pool types and lookback requirements, ARM
      pools and loan packages may be formed only under the Ginnie Mae II MBS Program, but as indicated above, may
      be issued as either multiple Issuer or custom pools. An adjustable-rate mortgage is a mortgage with an amortization
      schedule that provides for changes in monthly payments based on adjustments to the interest rate of the mortgage.
      There is a standard 1-Year ARM in which the interest rate is adjusted annually. In addition, “hybrid” ARMs
      include loans whose interest rates are contractually fixed for a pre- determined period, i.e., 3, 5, 7 or
      10 years, and adjust annually thereafter. The interest rate on an ARM loan is adjusted periodically, based
      on an index that is tied to the weekly average yield of U. S. Treasury securities, adjusted to a constant
      maturity of one year, and is commonly referred to as the Constant Maturity Treasury (“CMT”) index. Adjustable
      rate mortgage pool type designations to be used with the CMT index include the following:'
    drafter_attestation: Verbatim paragraph from Ginnie Mae MBS Guide Chapter 26 PDF, snapshot cfe2045410bda0a1;
      substring-verified. New-source fetch.
  judgment: false
- id: gnma-mbs-ch26-1
  canonical_id: gnma-mbs-ch26-1
  section: Ginnie Mae MBS Guide Chapter 26 — Adjustable Rate Mortgage Pools And Loan Packages
  description: 'Ch.26 Adjustable Rate Mortgage Pools And Loan Packages: , Rev. 1 26-1 ginniemae.gov “C AR” identifies
    a 1-Year ARM custom pool. The first interest adjustment date for each mortgage must occur at least 12 months,
    but not more than 18 months, after the first'
  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 26 — Adjustable Rate Mortgage Pools And Loan Packages
    source_class: gnma-mbs-guide
    source_url: https://www.ginniemae.gov/issuers/program_guidelines/MBSGuideLib/Chapter_26.pdf
    snapshot_id: cfe2045410bda0a1
    fetched_at: '2026-06-18T00:00:00+00:00'
    content_hash: sha256:70730a1a7caf013f874ac88a52a76a9a75725122a5edffc93a6b64013ae554df
    paragraph_quote: ', Rev. 1 26-1 ginniemae.gov “C AR” identifies a 1-Year ARM custom pool. The first interest
      adjustment date for each mortgage must occur at least 12 months, but not more than 18 months, after the first'
    drafter_attestation: Verbatim paragraph from Ginnie Mae MBS Guide Chapter 26 PDF, snapshot cfe2045410bda0a1;
      substring-verified. New-source fetch.
  judgment: false
- id: gnma-mbs-ch26-2
  canonical_id: gnma-mbs-ch26-2
  section: Ginnie Mae MBS Guide Chapter 26 — Adjustable Rate Mortgage Pools And Loan Packages
  description: 'Ch.26 Adjustable Rate Mortgage Pools And Loan Packages: payment date on the mortgage. The first
    interest adjustment date for the securities must occur from one to 15 months after the issue date;'
  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 26 — Adjustable Rate Mortgage Pools And Loan Packages
    source_class: gnma-mbs-guide
    source_url: https://www.ginniemae.gov/issuers/program_guidelines/MBSGuideLib/Chapter_26.pdf
    snapshot_id: cfe2045410bda0a1
    fetched_at: '2026-06-18T00:00:00+00:00'
    content_hash: sha256:70730a1a7caf013f874ac88a52a76a9a75725122a5edffc93a6b64013ae554df
    paragraph_quote: payment date on the mortgage. The first interest adjustment date for the securities must occur
      from one to 15 months after the issue date;
    drafter_attestation: Verbatim paragraph from Ginnie Mae MBS Guide Chapter 26 PDF, snapshot cfe2045410bda0a1;
      substring-verified. New-source fetch.
  judgment: false
- id: gnma-mbs-ch26-3
  canonical_id: gnma-mbs-ch26-3
  section: Ginnie Mae MBS Guide Chapter 26 — Adjustable Rate Mortgage Pools And Loan Packages
  description: 'Ch.26 Adjustable Rate Mortgage Pools And Loan Packages: , Rev. 1 26-2 ginniemae.gov “M AR” identifies
    a 1-Year ARM multiple Issuer pool or loan package. The first interest adjustment date for each mortgage must
    occur at least 12 months, but not more than 18 months, after the first payment date on the mortgage. The first
    interest adjus…'
  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 26 — Adjustable Rate Mortgage Pools And Loan Packages
    source_class: gnma-mbs-guide
    source_url: https://www.ginniemae.gov/issuers/program_guidelines/MBSGuideLib/Chapter_26.pdf
    snapshot_id: cfe2045410bda0a1
    fetched_at: '2026-06-18T00:00:00+00:00'
    content_hash: sha256:70730a1a7caf013f874ac88a52a76a9a75725122a5edffc93a6b64013ae554df
    paragraph_quote: ', Rev. 1 26-2 ginniemae.gov “M AR” identifies a 1-Year ARM multiple Issuer pool or loan package.
      The first interest adjustment date for each mortgage must occur at least 12 months, but not more than 18 months,
      after the first payment date on the mortgage. The first interest adjustment date for the securities must occur
      from 13 to 15 months after the issue date; “M AQ” identifies a 1-Year ARM multiple Issuer pool or loan package.
      The first interest adjustment date for each mortgage must occur at least 12 months, but not more than 18 months,
      after the first payment date on the mortgage. The first interest adjustment date for the securities must occur
      exactly 12 months after the issue date, which must be on either January 1, April 1, July 1 or October 1; “C
      AT” identifies a 3-Year hybrid ARM custom pool. The first interest adjustment date for each mortgage must
      occur at least 36 months, but not more than 42 months, after the first payment date on the mortgage. The security
      must be issued no later than 60 days before the first mortgage interest rate adjustment date; “M AT” identifies
      a 3-Year hybrid ARM multiple Issuer pool or loan package. The first interest adjustment date for each mortgage
      must occur at least 36 months, but not more than 42 months, after the first payment date on the mortgage.
      The first interest adjustment date for the securities must occur from 37 to 39 months after the issue date;
      “C AF” identifies a 5-Year hybrid ARM custom pool with a “1/5” interest rate cap structure. The first interest
      adjustment date for each mortgage must occur at least 60 months, but not more than 66 months, after the first
      payment date on the mortgage. The security must be issued no later than 60 days before the first mortgage
      interest rate adjustment date; “M AF” identifies a 5-Year hybrid ARM multiple Issuer pool or loan package
      with a “1/5” interest rate cap structure. The first interest adjustment date for each mortgage must occur
      at least 60 months, but not more than 66 months, after the first payment date on the mortgage. The first interest
      adjustment date for the securities must occur from 61 to 63 months after the issue date; “C FT” identifies
      a 5-Year hybrid ARM custom pool with a “2/6” interest rate cap structure. The first interest adjustment date
      for each mortgage must occur at least 60 months, but not more than 66 months, after the first payment date
      on the mortgage. The security must be issued no later than 60 days before the first mortgage interest rate
      adjustment date; “M FT” identifies a 5-Year hybrid ARM multiple Issuer pool or loan package with a “2/6” interest
      rate cap structure. The first interest adjustment date for each mortgage must occur at least 60 months, but
      not more than 66 months, after the first payment date on the mortgage. The first interest adjustment date
      for the securities must occur from 61 to 63 months after the issue date; “C AS” identifies a 7-Year hybrid
      ARM custom pool. The first interest adjustment date for each mortgage must occur at least 84 months, but not
      more than 90 months, after the first payment date on the mortgage. The security must be issued no later than
      60 days before the first mortgage interest rate adjustment date;'
    drafter_attestation: Verbatim paragraph from Ginnie Mae MBS Guide Chapter 26 PDF, snapshot cfe2045410bda0a1;
      substring-verified. New-source fetch.
  judgment: false
- id: gnma-mbs-ch26-4
  canonical_id: gnma-mbs-ch26-4
  section: Ginnie Mae MBS Guide Chapter 26 — Adjustable Rate Mortgage Pools And Loan Packages
  description: 'Ch.26 Adjustable Rate Mortgage Pools And Loan Packages: “M AS” identifies a 7-Year hybrid ARM multiple
    Issuer pool or loan package. The first interest adjustment date for each mortgage must occur at least 84 months,
    but not more than 90 months, after the first payment date on the mortgage. The first interest adjustment date
    for the se…'
  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 26 — Adjustable Rate Mortgage Pools And Loan Packages
    source_class: gnma-mbs-guide
    source_url: https://www.ginniemae.gov/issuers/program_guidelines/MBSGuideLib/Chapter_26.pdf
    snapshot_id: cfe2045410bda0a1
    fetched_at: '2026-06-18T00:00:00+00:00'
    content_hash: sha256:70730a1a7caf013f874ac88a52a76a9a75725122a5edffc93a6b64013ae554df
    paragraph_quote: “M AS” identifies a 7-Year hybrid ARM multiple Issuer pool or loan package. The first interest
      adjustment date for each mortgage must occur at least 84 months, but not more than 90 months, after the first
      payment date on the mortgage. The first interest adjustment date for the securities must occur from 85 to
      87 months after the issue date; “C AX” identifies a 10-Year hybrid ARM custom pool. The first interest adjustment
      date for each mortgage must occur at least 120 months, but not more than 126 months, after the first payment
      date on the mortgage. The security must be issued no later than 60 days before the first mortgage interest
      rate adjustment date;
    drafter_attestation: Verbatim paragraph from Ginnie Mae MBS Guide Chapter 26 PDF, snapshot cfe2045410bda0a1;
      substring-verified. New-source fetch.
  judgment: false
- id: gnma-mbs-ch26-5
  canonical_id: gnma-mbs-ch26-5
  section: Ginnie Mae MBS Guide Chapter 26 — Adjustable Rate Mortgage Pools And Loan Packages
  description: 'Ch.26 Adjustable Rate Mortgage Pools And Loan Packages: , Rev. 1 26-3 ginniemae.gov “M AX” identifies
    a 10-Year hybrid ARM multiple Issuer pool or loan package. The first interest adjustment date for each mortgage
    must occur at least 120 months, but not more than 126 months, after the first payment date on the mortgage.
    The first inte…'
  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 26 — Adjustable Rate Mortgage Pools And Loan Packages
    source_class: gnma-mbs-guide
    source_url: https://www.ginniemae.gov/issuers/program_guidelines/MBSGuideLib/Chapter_26.pdf
    snapshot_id: cfe2045410bda0a1
    fetched_at: '2026-06-18T00:00:00+00:00'
    content_hash: sha256:70730a1a7caf013f874ac88a52a76a9a75725122a5edffc93a6b64013ae554df
    paragraph_quote: ', Rev. 1 26-3 ginniemae.gov “M AX” identifies a 10-Year hybrid ARM multiple Issuer pool or
      loan package. The first interest adjustment date for each mortgage must occur at least 120 months, but not
      more than 126 months, after the first payment date on the mortgage. The first interest adjustment date for
      the securities must occur from 121 to 123 months after the issue date. Adjustable rate mortgage pool type
      designations that were used with the LIBOR index, and will convert to the SOFR Index include the following:
      “C RL” identifies a 1-Year ARM custom pool. The first interest adjustment date for each mortgage must occur
      at least 12 months, but not more than 18 months, after the first payment date on the mortgage. The first interest
      adjustment date for the securities must occur from one to 15 months after the issue date; “M RL” identifies
      a 1-Year ARM multiple issuer pool or loan package. The first interest adjustment date for each mortgage must
      occur at least 12 months, but not more than 18 months, after the first payment date on the mortgage. The first
      interest adjustment date for the securities must occur from 13 to 15 months after the issue date; “M QL” identifies
      a 1-Year ARM multiple issuer pool or loan package. The first interest adjustment date for each mortgage must
      occur at least 12 months, but not more than 18 months, after the first payment date on the mortgage. The first
      interest adjustment date for the securities must occur exactly 12 months after the issue date, which must
      be on either January 1, April 1, July 1 or October 1; “C TL” identifies a 3-Year hybrid ARM custom pool. The
      first interest adjustment date for each mortgage must occur at least 36 months, but not more than 42 months,
      after the first payment date on the mortgage. The security must be issued no later than 60 days before the
      first mortgage interest rate adjustment date; “M TL” identifies a 3-Year hybrid ARM multiple issuer pool or
      loan package. The first interest adjustment date for each mortgage must occur at least 36 months, but not
      more than 42 months, after the first payment date on the mortgage. The first interest adjustment date for
      the securities must occur from 37 to 39 months after the issue date; “C FL” identifies a 5-Year hybrid ARM
      custom pool with a “1/5” interest rate cap structure. The first interest adjustment date for each mortgage
      must occur at least 60 months, but not more than 66 months, after the first payment date on the mortgage.
      The security must be issued no later than 60 days before the first mortgage interest rate adjustment date;'
    drafter_attestation: Verbatim paragraph from Ginnie Mae MBS Guide Chapter 26 PDF, snapshot cfe2045410bda0a1;
      substring-verified. New-source fetch.
  judgment: false
- id: gnma-mbs-ch26-6
  canonical_id: gnma-mbs-ch26-6
  section: Ginnie Mae MBS Guide Chapter 26 — Adjustable Rate Mortgage Pools And Loan Packages
  description: 'Ch.26 Adjustable Rate Mortgage Pools And Loan Packages: “M FL” identifies a 5-Year hybrid ARM multiple
    issuer pool with a “1/5” interest rate cap structure. The first interest adjustment date for each mortgage must
    occur at least 60 months, but not more than 66 months, after the first payment date on the mortgage. The first
    interest 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 26 — Adjustable Rate Mortgage Pools And Loan Packages
    source_class: gnma-mbs-guide
    source_url: https://www.ginniemae.gov/issuers/program_guidelines/MBSGuideLib/Chapter_26.pdf
    snapshot_id: cfe2045410bda0a1
    fetched_at: '2026-06-18T00:00:00+00:00'
    content_hash: sha256:70730a1a7caf013f874ac88a52a76a9a75725122a5edffc93a6b64013ae554df
    paragraph_quote: “M FL” identifies a 5-Year hybrid ARM multiple issuer pool with a “1/5” interest rate cap structure.
      The first interest adjustment date for each mortgage must occur at least 60 months, but not more than 66 months,
      after the first payment date on the mortgage. The first interest adjustment date for the securities must occur
      from 61-63 months after the issue date; “C FB” identifies a 5-Year hybrid ARM custom pool with a “2/6” interest
      rate cap structure. The first interest adjustment date for each mortgage must occur at least 60 months, but
      not more than 66 months, after the first payment date on the mortgage. The security must be issued no later
      than 60 days before the first mortgage interest rate adjustment date; “M FB” identifies a 5-Year hybrid ARM
      multiple issuer pool or loan package with a “2/6” interest rate cap structure. The first interest adjustment
      date for each mortgage must occur at least 60 months, but not more than 66 months, after the first payment
      date on the mortgage. The first interest adjustment date for the securities must occur from 61 to 63 months
      after the issue date; “C SL” identifies a 7-Year hybrid ARM custom pool. The first interest adjustment date
      for each mortgage must occur at least 84 months, but not more than 90 months, after the first payment date
      on the mortgage. The security must be issued no later than 60 days before the first mortgage interest rate
      adjustment date; “M SL” identifies a 7-Year hybrid ARM multiple issuer pool or loan package. The first interest
      adjustment date for each mortgage must occur at least 84 months, but not more than 90 months, after the first
      payment date on the mortgage. The first interest adjustment date for the securities must occur from 85 to
      87 months after the issue date; “C XL” identifies a 10-Year hybrid ARM custom pool. The first interest adjustment
      date for each mortgage must occur at least 120 months, but not more than 126 months, after the first payment
      date on the mortgage. The security must be issued no later than 60 days before the first mortgage interest
      rate adjustment date;
    drafter_attestation: Verbatim paragraph from Ginnie Mae MBS Guide Chapter 26 PDF, snapshot cfe2045410bda0a1;
      substring-verified. New-source fetch.
  judgment: false
- id: gnma-mbs-ch26-7
  canonical_id: gnma-mbs-ch26-7
  section: Ginnie Mae MBS Guide Chapter 26 — Adjustable Rate Mortgage Pools And Loan Packages
  description: 'Ch.26 Adjustable Rate Mortgage Pools And Loan Packages: , Rev. 1 26-4 ginniemae.gov “M XL” identifies
    a 10-Year hybrid ARM multiple issuer pool or loan package. The first interest adjustment date for each mortgage
    must occur at least 120 months, but not more than 126 months, after the first payment date on the mortgage.
    The first inte…'
  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 26 — Adjustable Rate Mortgage Pools And Loan Packages
    source_class: gnma-mbs-guide
    source_url: https://www.ginniemae.gov/issuers/program_guidelines/MBSGuideLib/Chapter_26.pdf
    snapshot_id: cfe2045410bda0a1
    fetched_at: '2026-06-18T00:00:00+00:00'
    content_hash: sha256:70730a1a7caf013f874ac88a52a76a9a75725122a5edffc93a6b64013ae554df
    paragraph_quote: ', Rev. 1 26-4 ginniemae.gov “M XL” identifies a 10-Year hybrid ARM multiple issuer pool or
      loan package. The first interest adjustment date for each mortgage must occur at least 120 months, but not
      more than 126 months, after the first payment date on the mortgage. The first interest adjustment date for
      the securities must occur from 121 to 123 months after the issue date.'
    drafter_attestation: Verbatim paragraph from Ginnie Mae MBS Guide Chapter 26 PDF, snapshot cfe2045410bda0a1;
      substring-verified. New-source fetch.
  judgment: false
- id: gnma-mbs-ch26-8
  canonical_id: gnma-mbs-ch26-8
  section: Ginnie Mae MBS Guide Chapter 26 — Adjustable Rate Mortgage Pools And Loan Packages
  description: 'Ch.26 Adjustable Rate Mortgage Pools And Loan Packages: MORTGAGE ELIGIBILITY, POOL AND LOAN PACKAGE
    REQUIREMENTS The mortgage eligibility, pool and loan package requirements that apply, with limited exceptions,
    to all pool types are found in MBS Guide, Ch. 9. The mortgage, pool and loan package eligibility requirements
    for SF pools an…'
  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 26 — Adjustable Rate Mortgage Pools And Loan Packages
    source_class: gnma-mbs-guide
    source_url: https://www.ginniemae.gov/issuers/program_guidelines/MBSGuideLib/Chapter_26.pdf
    snapshot_id: cfe2045410bda0a1
    fetched_at: '2026-06-18T00:00:00+00:00'
    content_hash: sha256:70730a1a7caf013f874ac88a52a76a9a75725122a5edffc93a6b64013ae554df
    paragraph_quote: MORTGAGE ELIGIBILITY, POOL AND LOAN PACKAGE REQUIREMENTS The mortgage eligibility, pool and
      loan package requirements that apply, with limited exceptions, to all pool types are found in MBS Guide, Ch.
      9. The mortgage, pool and loan package eligibility requirements for SF pools and loan packages found in MBS
      Guide, Ch. 24 also apply to ARM pools and loan packages, except as modified in this section. Section A. Mortgage
      Eligibility Requirements
    drafter_attestation: Verbatim paragraph from Ginnie Mae MBS Guide Chapter 26 PDF, snapshot cfe2045410bda0a1;
      substring-verified. New-source fetch.
  judgment: false
- id: gnma-mbs-ch26-9
  canonical_id: gnma-mbs-ch26-9
  section: Ginnie Mae MBS Guide Chapter 26 — Adjustable Rate Mortgage Pools And Loan Packages
  description: 'Ch.26 Adjustable Rate Mortgage Pools And Loan Packages: Each mortgage in a pool or loan package
    must provide for full repayment over the life of the loan in accordance with an amortization schedule that provides
    for periodic adjustments to principal and interest payments, based on changes in the interest rate index. Each
    adjusted paym…'
  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 26 — Adjustable Rate Mortgage Pools And Loan Packages
    source_class: gnma-mbs-guide
    source_url: https://www.ginniemae.gov/issuers/program_guidelines/MBSGuideLib/Chapter_26.pdf
    snapshot_id: cfe2045410bda0a1
    fetched_at: '2026-06-18T00:00:00+00:00'
    content_hash: sha256:70730a1a7caf013f874ac88a52a76a9a75725122a5edffc93a6b64013ae554df
    paragraph_quote: 'Each mortgage in a pool or loan package must provide for full repayment over the life of the
      loan in accordance with an amortization schedule that provides for periodic adjustments to principal and interest
      payments, based on changes in the interest rate index. Each adjusted payment must be sufficient to retire
      the remaining principal balance of the loan during the remaining life of the loan on a level monthly payment
      basis. ARM pools typically contain mortgages with 30-year maturities, and the underlying securities also reflect
      30-year maturities. These pools may, however, also contain mortgages with maturities of 15, 20 and 25 year
      terms, so long as the following test of reasonable homogeneity is met: at least 90 percent of the original
      principal balance of each ARM pool or loan package must consist of mortgages with 30-year maturities. An adjustable
      rate mortgage, unlike a fixed rate mortgage, does not require repayment in equal monthly installments throughout
      the term of the loan. Consequently, total payments over the entire amortization of an ARM loan may be higher
      or lower than the total payments of a fixed rate loan. ARMs with buydown provisions are ineligible for pooling
      under the ARM program. Initial mortgage interest rate: Each mortgage in a pool or loan package issued before
      July 1, 2003, must bear an initial rate of interest at least 50 basis points, but not more than 150 basis
      points, higher than the initial rate of interest on the related securities. Each mortgage in a pool or loan
      package issued on or after July 1, 2003, must bear an initial rate of interest at least 25 basis points, but
      not more than 75 basis points, higher than the initial rate of interest on the related securities. Mortgage
      interest rate adjustments: Each mortgage in a pool or loan package must have the same interest rate change
      date and payment adjustment date as every other mortgage in the pool or loan package. In addition, the interest
      rate change dates and payment adjustment dates for a given pool or loan package must satisfy the requirements
      set forth in the following tables: MORTGAGE POOLING ELIGIBILITY REQUIREMENTS: AR & RL Multiple Issuer Pools:'
    drafter_attestation: Verbatim paragraph from Ginnie Mae MBS Guide Chapter 26 PDF, snapshot cfe2045410bda0a1;
      substring-verified. New-source fetch.
  judgment: false
- id: gnma-mbs-ch26-10
  canonical_id: gnma-mbs-ch26-10
  section: Ginnie Mae MBS Guide Chapter 26 — Adjustable Rate Mortgage Pools And Loan Packages
  description: 'Ch.26 Adjustable Rate Mortgage Pools And Loan Packages: , Rev. 1 26-5 ginniemae.gov ARM Type Mortgages
    backing securities issued on the first day of: Shall have an initial interest adjustment at least 12 months,
    but no more than 18 months, after the first payment date on: Shall have annual interest adjustments thereafter
    on: Shall alw…'
  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 26 — Adjustable Rate Mortgage Pools And Loan Packages
    source_class: gnma-mbs-guide
    source_url: https://www.ginniemae.gov/issuers/program_guidelines/MBSGuideLib/Chapter_26.pdf
    snapshot_id: cfe2045410bda0a1
    fetched_at: '2026-06-18T00:00:00+00:00'
    content_hash: sha256:70730a1a7caf013f874ac88a52a76a9a75725122a5edffc93a6b64013ae554df
    paragraph_quote: ', Rev. 1 26-5 ginniemae.gov ARM Type Mortgages backing securities issued on the first day
      of: Shall have an initial interest adjustment at least 12 months, but no more than 18 months, after the first
      payment date on: Shall have annual interest adjustments thereafter on: Shall always have payment adjustments
      one month later than the interest adjustments, on: 1-Year M AR or Jan., Feb. Mar., April 1 April 1 May 1 1-Year
      M RL Apr., May, June July 1 July 1 August 1 July, Aug., Sept., October 1 October 1 November 1 Oct., Nov.,
      Dec. January 1 January 1 February 1'
    drafter_attestation: Verbatim paragraph from Ginnie Mae MBS Guide Chapter 26 PDF, snapshot cfe2045410bda0a1;
      substring-verified. New-source fetch.
  judgment: false
- id: gnma-mbs-ch26-11
  canonical_id: gnma-mbs-ch26-11
  section: Ginnie Mae MBS Guide Chapter 26 — Adjustable Rate Mortgage Pools And Loan Packages
  description: 'Ch.26 Adjustable Rate Mortgage Pools And Loan Packages: , Rev. 1 26-6 ginniemae.gov ARM Type Mortgages
    backing securities issued on the first day of: Shall have an initial interest adjustment at least 12 months,
    but no more than 18 months, after the first payment date on: Shall have annual interest adjustments thereafter
    on: Shall alw…'
  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 26 — Adjustable Rate Mortgage Pools And Loan Packages
    source_class: gnma-mbs-guide
    source_url: https://www.ginniemae.gov/issuers/program_guidelines/MBSGuideLib/Chapter_26.pdf
    snapshot_id: cfe2045410bda0a1
    fetched_at: '2026-06-18T00:00:00+00:00'
    content_hash: sha256:70730a1a7caf013f874ac88a52a76a9a75725122a5edffc93a6b64013ae554df
    paragraph_quote: ', Rev. 1 26-6 ginniemae.gov ARM Type Mortgages backing securities issued on the first day
      of: Shall have an initial interest adjustment at least 12 months, but no more than 18 months, after the first
      payment date on: Shall have annual interest adjustments thereafter on: Shall always have payment adjustments
      one month later than the interest adjustments, on: 1-Year M AQ or January January 1 January 1 February 1 1-Year
      M QL April April 1 April 1 May 1 July July 1 July 1 August 1 October October 1 October 1 November 1 AT & TL
      Multiple Issuer Pools: ARM Type Mortgages backing securities issued on the first day of: Shall have an initial
      interest adjustment at least 36 months, but no more than 42 months, after the first payment date on: Shall
      have annual interest adjustments thereafter on: Shall always have payment adjustments one month later than
      the interest adjustments, on: 3-Year M AT or Jan., Feb. Mar., April 1 April 1 May 1 3-Year M TL Apr., May,
      June July 1 July 1 August 1 July, Aug., Sept., October 1 October 1 November 1 Oct., Nov., Dec. January 1 January
      1 February 1 AF, FT, FL & FB Multiple Issuer Pools: ARM Type Mortgages backing securities issued on the first
      day of: Shall have an initial interest adjustment at least 60 months, but no more than 66 months, after the
      first payment date on: Shall have annual interest adjustments thereafter on: Shall always have payment adjustments
      one month later than the interest adjustments, on: 5-Year M AF or Jan., Feb. Mar., April 1 April 1 May 1 5-Year
      M FT or Apr., May, June July 1 July 1 August 1 5-Year M FL or July, Aug., Sept., October 1 October 1 November
      1 5-Year M FB Oct., Nov., Dec. January 1 January 1 February 1'
    drafter_attestation: Verbatim paragraph from Ginnie Mae MBS Guide Chapter 26 PDF, snapshot cfe2045410bda0a1;
      substring-verified. New-source fetch.
  judgment: false
- id: gnma-mbs-ch26-12
  canonical_id: gnma-mbs-ch26-12
  section: Ginnie Mae MBS Guide Chapter 26 — Adjustable Rate Mortgage Pools And Loan Packages
  description: 'Ch.26 Adjustable Rate Mortgage Pools And Loan Packages: , Rev. 1 26-7 ginniemae.gov ARM Type Mortgages
    backing securities issued on the first day of: Shall have an initial interest adjustment at least 84 months,
    but no more than 90 months, after the first payment date on: Shall have annual interest adjustments thereafter
    on: Shall alw…'
  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 26 — Adjustable Rate Mortgage Pools And Loan Packages
    source_class: gnma-mbs-guide
    source_url: https://www.ginniemae.gov/issuers/program_guidelines/MBSGuideLib/Chapter_26.pdf
    snapshot_id: cfe2045410bda0a1
    fetched_at: '2026-06-18T00:00:00+00:00'
    content_hash: sha256:70730a1a7caf013f874ac88a52a76a9a75725122a5edffc93a6b64013ae554df
    paragraph_quote: ', Rev. 1 26-7 ginniemae.gov ARM Type Mortgages backing securities issued on the first day
      of: Shall have an initial interest adjustment at least 84 months, but no more than 90 months, after the first
      payment date on: Shall have annual interest adjustments thereafter on: Shall always have payment adjustments
      one month later than the interest adjustments, on: 7-Year M AS or Jan., Feb. Mar., April 1 April 1 May 1 7-Year
      M SL Apr., May, June July 1 July 1 August 1 July, Aug., Sept., October 1 October 1 November 1 Oct., Nov.,
      Dec. January 1 January 1 February 1 AX & XL Multiple Issuer Pools: ARM Type Mortgages backing securities issued
      on the first day of: Shall have an initial interest adjustment at least 120 months, but no more than 126 months,
      after the first payment date on: Shall have annual interest adjustments thereafter on: Shall always have payment
      adjustments one month later than the interest adjustments, on: 10-Year M AX or Jan., Feb. Mar., April 1 April
      1 May 1 10-Year M XL Apr., May, June July 1 July 1 August 1 July, Aug., Sept., October 1 October 1 November
      1 Oct., Nov., Dec. January 1 January 1 February 1 AR & RL Custom Pools: ARM Type Mortgages backing securities
      issued on the first day of: Shall have an initial interest adjustment at least 12 months, but no more than
      18 months, after the first payment date on: Shall have annual interest adjustments thereafter on: Shall always
      have payment adjustments one month later than the interest adjustments, on: 1-Year C AR or Any month April
      1 April 1 May 1 1-Year C RL July 1 July 1 August 1 October 1 October 1 November 1 January 1 January 1 February
      1'
    drafter_attestation: Verbatim paragraph from Ginnie Mae MBS Guide Chapter 26 PDF, snapshot cfe2045410bda0a1;
      substring-verified. New-source fetch.
  judgment: false
- id: gnma-mbs-ch26-13
  canonical_id: gnma-mbs-ch26-13
  section: Ginnie Mae MBS Guide Chapter 26 — Adjustable Rate Mortgage Pools And Loan Packages
  description: 'Ch.26 Adjustable Rate Mortgage Pools And Loan Packages: , Rev. 1 26-8 ginniemae.gov ARM Type Mortgages
    backing securities issued on the first day of: Shall have an initial interest adjustment at least 36 months,
    but no more than 42 months, after the first payment date on: Shall have annual interest adjustments thereafter
    on: Shall alw…'
  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 26 — Adjustable Rate Mortgage Pools And Loan Packages
    source_class: gnma-mbs-guide
    source_url: https://www.ginniemae.gov/issuers/program_guidelines/MBSGuideLib/Chapter_26.pdf
    snapshot_id: cfe2045410bda0a1
    fetched_at: '2026-06-18T00:00:00+00:00'
    content_hash: sha256:70730a1a7caf013f874ac88a52a76a9a75725122a5edffc93a6b64013ae554df
    paragraph_quote: ', Rev. 1 26-8 ginniemae.gov ARM Type Mortgages backing securities issued on the first day
      of: Shall have an initial interest adjustment at least 36 months, but no more than 42 months, after the first
      payment date on: Shall have annual interest adjustments thereafter on: Shall always have payment adjustments
      one month later than the interest adjustments, on: 3-Year C AT or Any month April 1 April 1 May 1 3-Year C
      TL July 1 July 1 August 1 October 1 October 1 November 1 January 1 January 1 February 1 AF, FT, FL & FB Custom
      Pools: ARM Type Mortgages backing securities issued on the first day of: Shall have an initial interest adjustment
      at least 60 months, but no more than 66 months, after the first payment date on: Shall have annual interest
      adjustments thereafter on: Shall always have payment adjustments one month later than the interest adjustments,
      on: 5-Year C AF or Any month April 1 April 1 May 1 5-Year C FT or July 1 July 1 August 1 5-Year C FL or October
      1 October 1 November 1 5-Year C FB January 1 January 1 February 1 AS & SL Custom Pools: ARM Type Mortgages
      backing securities issued on the first day of: Shall have an initial interest adjustment at least 84 months,
      but no more than 92 months, after the first payment date on: Shall have annual interest adjustments thereafter
      on: Shall always have payment adjustments one month later than the interest adjustments, on: 7-Year C AS or
      Any month April 1 April 1 May 1 7-Year C SL July 1 July 1 August 1 October 1 October 1 November 1 January
      1 January 1 February 1'
    drafter_attestation: Verbatim paragraph from Ginnie Mae MBS Guide Chapter 26 PDF, snapshot cfe2045410bda0a1;
      substring-verified. New-source fetch.
  judgment: false
