FREQUENTLY ASKED QUESTIONS - Monthly Loan Level Reporting

Q: Why is Ginnie Mae changing from Quarterly to monthly?

A: To better meet the requirements of the investment community Ginnie Mae will begin to provide additional information about Ginnie Mae MBS and the underlying collateral on a monthly basis. This means that Issuers will also need to report information about the underlying loan collateral on a monthly basis.

Q: Has the reporting format changed?

A: No. Only the frequency of reporting has changed from quarterly to monthly.

Q: Have the reporting deadlines changed?

A: The deadlines have not changed. Loan level data must be reported to Ginnie Mae on or before the 15th calendar day of each month. As always, issuers are encouraged to report as early each month as possible to ensure timely processing and prevent late reporting in the event that a file is rejected.

Q: What can we do to reduce or enhance file transmission time?

A: Issuers can transmit loan level files via ISDN, dial-up to the Bulletin Board System or over the Internet using the file transfer function of Web IIS. Issuers who currently use Web EDI can continue to do so.

If you want to talk to a technical representative about the best alternative, call (888) GINNIE4, option 8.

Q: What do I need to do if we use a service bureau?

A: You should check with your service bureau to verify that they are aware of the APM 03-20. Coordinate directly with your service bureau to ensure that you will be compliant with the APM.

Q: What if we operate "off-the-shelf" servicing software on our own systems?

A: You should check with your software vendor, to ensure that they are aware of APM 03-20. Verify whether or not you need to make any changes.