source:
  type: regulation
  id: gnma-mbs-ch02
  authority: "Ginnie Mae MBS Guide Chapter 2 — Eligibility Requirements: Approval as a Ginnie Mae Issuer"
  description: "GNMA MBS Guide (HUD Handbook 5500.3, Rev-1) Chapter 2 — Issuer-approval\neligibility (FHA mortgagee good standing, principal element of business,\nmanagement capability, fidelity bond and E&O insurance, financial\nstatements, adjusted net worth tiers).\n"
obligations:
- id: gnma-mbs-ch02-notify-material-change
  canonical_id: gnma-mbs-ch02-notify-material-change
  section: "Ginnie Mae MBS Guide Ch. 2, Part 2 — Eligibility Requirements: Approval as a Ginnie Mae Issuer"
  description: 'Each applicant for Ginnie Mae Issuer status must notify Ginnie Mae

    immediately of any material change with regard to its ability to

    meet the Chapter 2 eligibility requirements while the application

    is pending and at any time thereafter. [ISSUER] applicants must

    operationalize a material-change escalation path that reaches Ginnie

    Mae without delay.

    '
  type: do
  audit_question: Can [ISSUER] evidence that every material change with regard to its ability to meet Chapter 2 eligibility requirements (while the application was pending and after) was notified to Ginnie Mae immediately?
  workflow_phase: governance
  owner_role: compliance_officer
  secondary_owner_role: executive
  cadence: continuous
  consequence: ''
  tags:
  - round-b
  - regulator-direct
  - gnma
  - mbs-guide
  - ch02
  - issuer-approval
  - material-change-notification
  - promoted
  primary_source:
    tier: 1
    authority: "Ginnie Mae MBS Guide Chapter 2 — Eligibility Requirements: Approval as a Ginnie Mae Issuer"
    source_class: gnma-mbs-guide
    source_url: https://www.ginniemae.gov/issuers/program_guidelines/MBSGuideLib/Chapter_02.pdf
    snapshot_id: 654648b92b8c65ec
    fetched_at: '2026-05-23T00:30:00Z'
    content_hash: sha256:6a42c5fc6a5d8c8b5ba4edc35d941d0e2ca1664ca546e32ee7faeb3a485050ab
    paragraph_quote: 'Each applicant must notify Ginnie Mae immediately of any material change with regard to its '
    drafter_attestation: Copied verbatim from GNMA MBS Guide Chapter 2 snapshot 654648b92b8c65ec at 2026-05-23.
  promoted_at: '2026-05-23T01:32:21+00:00'
  promoted_from: gnma-mbs-ch02-roundb-v1.yaml
  program_review: Does the program operationalize a material-change escalation path so any material change to the applicant's ability to meet Chapter 2 eligibility is notified to Ginnie Mae immediately, while the application is pending and thereafter?
  file_review: For any material change, confirm immediate notification to Ginnie Mae. The compliance person judges whether a change was material enough to trigger notice.
  judgment: true
- id: gnma-mbs-ch02-fha-approval-three-years
  canonical_id: gnma-mbs-ch02-fha-approval-three-years
  section: "Ginnie Mae MBS Guide Ch. 2, Part 3 — FHA Approval"
  description: 'At the time the application to Ginnie Mae is filed, [ISSUER]

    applicant must certify that it is an FHA-approved mortgagee in good

    standing, provide its FHA mortgagee identification number, and must

    have held its FHA approval for at least three years (subject to the

    Multifamily Part 6(3)(b) experience requirements).

    '
  type: do
  audit_question: Can [ISSUER] applicant evidence (i) FHA-approved mortgagee good-standing certification at application time, (ii) FHA mortgagee ID number submission, and (iii) at least three years of held FHA approval?
  workflow_phase: governance
  owner_role: compliance_officer
  secondary_owner_role: executive
  cadence: per-application
  consequence: ''
  tags:
  - round-b
  - regulator-direct
  - gnma
  - mbs-guide
  - ch02
  - fha-approval
  - issuer-eligibility
  - promoted
  primary_source:
    tier: 1
    authority: "Ginnie Mae MBS Guide Chapter 2, Part 3 — FHA Approval"
    source_class: gnma-mbs-guide
    source_url: https://www.ginniemae.gov/issuers/program_guidelines/MBSGuideLib/Chapter_02.pdf
    snapshot_id: 654648b92b8c65ec
    fetched_at: '2026-05-23T00:30:00Z'
    content_hash: sha256:6a42c5fc6a5d8c8b5ba4edc35d941d0e2ca1664ca546e32ee7faeb3a485050ab
    paragraph_quote: The applicant must have held their FHA approval for at least three years,
    drafter_attestation: Copied verbatim from GNMA MBS Guide Chapter 2 snapshot 654648b92b8c65ec at 2026-05-23.
  promoted_at: '2026-05-23T01:32:21+00:00'
  promoted_from: gnma-mbs-ch02-roundb-v1.yaml
  program_review: Does the program ensure the applicant certifies FHA-approved-mortgagee good standing at application, provides its FHA mortgagee ID, and has held FHA approval at least three years (subject to Multifamily Part 6(3)(b) experience)?
  file_review: Confirm the FHA good-standing certification, FHA mortgagee ID, and ≥3-year FHA-approval tenure at application.
  judgment: false
- id: gnma-mbs-ch02-fidelity-bond-eo-insurance
  canonical_id: gnma-mbs-ch02-fidelity-bond-eo-insurance
  section: "Ginnie Mae MBS Guide Ch. 2, Part 7 — Fidelity Bond and Errors and Omissions Insurance"
  description: '[ISSUER] applicant must have, and must keep in effect at all times,

    a fidelity bond and a mortgagee errors and omissions (E&O) policy

    as described in Chapter 2 Part 7 and acceptable to Ginnie Mae.

    '
  type: do
  audit_question: Can [ISSUER] applicant evidence that a fidelity bond and a mortgagee errors and omissions (E&O) policy acceptable to Ginnie Mae were in effect at all times under Chapter 2 Part 7?
  workflow_phase: governance
  owner_role: compliance_officer
  secondary_owner_role: executive
  cadence: continuous
  consequence: ''
  tags:
  - round-b
  - regulator-direct
  - gnma
  - mbs-guide
  - ch02
  - fidelity-bond
  - e-and-o-insurance
  - promoted
  primary_source:
    tier: 1
    authority: "Ginnie Mae MBS Guide Chapter 2, Part 7 — Fidelity Bond and Errors and Omissions Insurance"
    source_class: gnma-mbs-guide
    source_url: https://www.ginniemae.gov/issuers/program_guidelines/MBSGuideLib/Chapter_02.pdf
    snapshot_id: 654648b92b8c65ec
    fetched_at: '2026-05-23T00:30:00Z'
    content_hash: sha256:6a42c5fc6a5d8c8b5ba4edc35d941d0e2ca1664ca546e32ee7faeb3a485050ab
    paragraph_quote: "Each applicant must have a fidelity bond and a mortgagee’s errors and omissions policy (E&O) "
    drafter_attestation: Copied verbatim from GNMA MBS Guide Chapter 2 snapshot 654648b92b8c65ec at 2026-05-23.
  promoted_at: '2026-05-23T01:32:21+00:00'
  promoted_from: gnma-mbs-ch02-roundb-v1.yaml
  program_review: Does the program ensure a fidelity bond and a mortgagee E&O policy meeting Chapter 2 Part 7 and acceptable to Ginnie Mae are kept in effect at all times?
  file_review: Confirm the fidelity bond and E&O policy were in effect at all times and meet Part 7 requirements.
  judgment: false
_promotion_history:
- promoted_at: '2026-05-23T01:31:36+00:00'
  candidate_path: obligations\_remediation\_round_b_drafts\gnma-mbs-ch02-roundb-v1.yaml
  candidates_promoted: 0
  candidates_skipped_existing: 0
- promoted_at: '2026-05-23T01:32:21+00:00'
  candidate_path: obligations\_remediation\_round_b_drafts\gnma-mbs-ch02-roundb-v1.yaml
  candidates_promoted: 3
  candidates_skipped_existing: 0
