source:
  type: regulation
  id: gnma-mbs-ch23
  authority: "Ginnie Mae MBS Guide Chapter 23 — Conditions for Default: Ginnie Mae Remedies"
  description: "GNMA MBS Guide Chapter 23 — events of default available to Ginnie Mae\n(failure to remit / fund central P&I custodial account, application\nfor advance, insolvency, FHA / Fannie / Freddie approval loss,\nunauthorized custodial-fund use, false reports, breach of warranty);\nremedies upon default (Issuer-status termination, extinguishment of\nIssuer interest in pooled mortgages, recovery of custodial-account\nshortfalls, cross-default, civil money penalties per 24 CFR Part 30,\nadministrative proceedings, denial of reentry). Each submission to\nGinnie Mae is a certification of truth to the United States.\n"
obligations:
- id: gnma-mbs-ch23-no-false-statement
  canonical_id: gnma-mbs-ch23-no-false-statement
  section: "Ginnie Mae MBS Guide Ch. 23, Part 6 — False Statements"
  description: 'Each statement, report, and compilation of data or information

    submitted in connection with a Ginnie Mae MBS Program by [ISSUER],

    funds custodian, document custodian, subcontract servicer, or other

    person or entity, directly or indirectly, to Ginnie Mae, its

    employees, its agents or its contractors (including the Ginnie Mae

    Reports Group) is deemed a submission to the United States that is

    relied upon by Ginnie Mae in the operation of a Ginnie Mae MBS

    Program. Submission is deemed a certification that each matter

    stated therein is true, correct, complete, and in accordance with

    the instructions issued by Ginnie Mae.

    '
  type: dont
  audit_question: Can [ISSUER] evidence that no false or misleading statement, report, or item of data or information was submitted, directly or indirectly, to Ginnie Mae, its employees, agents, or contractors (including the Ginnie Mae Reports Group) in connection with a Ginnie Mae MBS Program during the reporting period?
  workflow_phase: governance
  owner_role: compliance_officer
  secondary_owner_role: executive
  cadence: continuous
  consequence: ''
  tags:
  - round-b
  - regulator-direct
  - gnma
  - mbs-guide
  - ch23
  - no-false-statement
  - false-claims-exposure
  - promoted
  primary_source:
    tier: 1
    authority: "Ginnie Mae MBS Guide Chapter 23, Part 6 — False Statements"
    source_class: gnma-mbs-guide
    source_url: https://www.ginniemae.gov/issuers/program_guidelines/MBSGuideLib/Chapter_23.pdf
    snapshot_id: 27ea1f7930e83e9a
    fetched_at: '2026-05-23T00:30:00Z'
    content_hash: sha256:6cb1cdc40681b0401020698e4ab8cfb75ddf5c256463a94c7e9a9ad2d3702a49
    paragraph_quote: 'Each statement, report, and compilation of data or information submitted in connection with a '
    drafter_attestation: Copied verbatim from GNMA MBS Guide Chapter 23 snapshot 27ea1f7930e83e9a at 2026-05-23.
  promoted_at: '2026-05-23T01:32:26+00:00'
  promoted_from: gnma-mbs-ch23-roundb-v1.yaml
  program_review: Does the program facilitate controls (verification, sign-off, QC) so no false/misleading statement, report, or data is submitted, directly or indirectly, to Ginnie Mae or its agents/contractors — given every submission is a certification to the United States that each matter is true, correct, complete, and per Ginnie Mae instructions?
  file_review: Sample submissions to Ginnie Mae; trace to source and confirm accuracy. The compliance person judges whether any submission was false or misleading.
  judgment: true
- id: gnma-mbs-ch23-attribution-of-subservicer-acts
  canonical_id: gnma-mbs-ch23-attribution-of-subservicer-acts
  section: "Ginnie Mae MBS Guide Ch. 23, Part 2, Section B — Acts of Subcontract Servicer or Agent"
  description: 'Ginnie Mae may attribute to [ISSUER] any act by [ISSUER]''s

    subcontract servicer or any agent of [ISSUER]. Operational

    consequence: [ISSUER] must oversee subservicer and agent conduct

    such that any event of default by them does not flow to [ISSUER].

    '
  type: do
  audit_question: Can [ISSUER] evidence (i) an oversight program over each subcontract servicer and agent calibrated to the events-of-default catalogue in Chapter 23 Part 2 Section A, and (ii) corrective action against any subservicer or agent conduct that would, if attributed to [ISSUER], constitute an event of default?
  workflow_phase: servicing
  owner_role: compliance_officer
  secondary_owner_role: default_servicing_analyst
  cadence: continuous
  consequence: ''
  tags:
  - round-b
  - regulator-direct
  - gnma
  - mbs-guide
  - ch23
  - subservicer-attribution
  - oversight
  - promoted
  primary_source:
    tier: 1
    authority: "Ginnie Mae MBS Guide Chapter 23, Part 2, Section B — Acts of Subcontract Servicer or Agent"
    source_class: gnma-mbs-guide
    source_url: https://www.ginniemae.gov/issuers/program_guidelines/MBSGuideLib/Chapter_23.pdf
    snapshot_id: 27ea1f7930e83e9a
    fetched_at: '2026-05-23T00:30:00Z'
    content_hash: sha256:6cb1cdc40681b0401020698e4ab8cfb75ddf5c256463a94c7e9a9ad2d3702a49
    paragraph_quote: "Ginnie Mae may attribute to the Issuer any act by the Issuer’s subcontract servicer or any agent "
    drafter_attestation: Copied verbatim from GNMA MBS Guide Chapter 23 snapshot 27ea1f7930e83e9a at 2026-05-23.
  promoted_at: '2026-05-23T01:32:26+00:00'
  promoted_from: gnma-mbs-ch23-roundb-v1.yaml
  program_review: Does the program operate a subservicer/agent oversight program calibrated to the Chapter 23 events-of-default catalogue (since Ginnie Mae may attribute their acts to the Issuer), with corrective action against conduct that would constitute an event of default?
  file_review: Review the subservicer/agent oversight program and corrective actions; the compliance person judges whether oversight is calibrated to the attributable events-of-default.
  judgment: true
- id: gnma-mbs-ch23-fund-central-pi-by-due-date
  canonical_id: gnma-mbs-ch23-fund-central-pi-by-due-date
  section: "Ginnie Mae MBS Guide Ch. 23, Part 2, Section A(2) — Events of Default (Ginnie Mae II)"
  description: 'Any failure by [ISSUER] (as Ginnie Mae II MBS Issuer) to have funds

    in the central P&I custodial account at the time and in the amount

    required pursuant to MBS Guide, Ch. 15, Part 3 is an event of

    default. An event of default under this provision will be deemed to

    have occurred as of the scheduled date of a monthly ACH debit that

    fails because the deposit of such funds is untimely, insufficient

    or both.

    '
  type: do
  audit_question: For every Ginnie Mae II MBS ACH debit date, can [ISSUER] evidence that the central P&I custodial account held funds in the amount and at the time required by MBS Guide Ch. 15 Part 3, and that no ACH debit failed because of untimely or insufficient deposit during the reporting period?
  workflow_phase: servicing
  owner_role: default_servicing_analyst
  secondary_owner_role: compliance_officer
  cadence: monthly
  consequence: ''
  tags:
  - round-b
  - regulator-direct
  - gnma
  - mbs-guide
  - ch23
  - central-pi-funding
  - ginnie-mae-ii-default
  - promoted
  primary_source:
    tier: 1
    authority: "Ginnie Mae MBS Guide Chapter 23, Part 2, Section A(2) — Events of Default"
    source_class: gnma-mbs-guide
    source_url: https://www.ginniemae.gov/issuers/program_guidelines/MBSGuideLib/Chapter_23.pdf
    snapshot_id: 27ea1f7930e83e9a
    fetched_at: '2026-05-23T00:30:00Z'
    content_hash: sha256:6cb1cdc40681b0401020698e4ab8cfb75ddf5c256463a94c7e9a9ad2d3702a49
    paragraph_quote: 'any failure by a Ginnie Mae II MBS Issuer to have funds in the central P&I custodial '
    drafter_attestation: Copied verbatim from GNMA MBS Guide Chapter 23 snapshot 27ea1f7930e83e9a at 2026-05-23.
  promoted_at: '2026-05-23T01:32:26+00:00'
  promoted_from: gnma-mbs-ch23-roundb-v1.yaml
  program_review: Does the program ensure the GM II central P&I custodial account holds funds in the amount and at the time required by Ch. 15 Part 3, so no monthly ACH debit fails for untimely/insufficient deposit (which is an event of default)?
  file_review: For each GM II ACH debit date, confirm the central P&I account held the required funds on time, with no failed debit from untimely/insufficient deposit.
  judgment: false
_promotion_history:
- promoted_at: '2026-05-23T01:31:41+00:00'
  candidate_path: obligations\_remediation\_round_b_drafts\gnma-mbs-ch23-roundb-v1.yaml
  candidates_promoted: 0
  candidates_skipped_existing: 0
- promoted_at: '2026-05-23T01:32:26+00:00'
  candidate_path: obligations\_remediation\_round_b_drafts\gnma-mbs-ch23-roundb-v1.yaml
  candidates_promoted: 3
  candidates_skipped_existing: 0
