Skip to main content

Ginnie Mae Revises Its Document Custody Manual

Aug 04, 2015
Ginnie Mae Logo

Ginnie Mae has announced revisions to the Document Custody Manual which appears in the Mortgage-Backed Securities Guide. The revised Manual, Appendix V-1, provides the requirements and procedures for Document Custodians as well as the specific requirements relating to the loan documents that serve as collateral for securitized pools of loans. Issuers and Document Custodians will be required to comply with this updated version of the Manual for pools issued on Jan. 1, 2016 and thereafter.

“Ginnie Mae continues to adapt to the needs of today’s marketplace and the unprecedented growth in Ginnie Mae’s business. The number and complexity of servicing transfers, in particular, has grown substantially in recent years and the revised Manual is a critical element in helping Ginnie Mae adapt to these changes,” said Michael Drayne, Ginnie Mae’s senior vice president of Issuer and Portfolio Management.

Key changes to the Manual include: 

►Added definitions of some key terms and clarified others to be consistent with the Glossary in the MBS Guide.

Updated requirements as to how copies of documents are to be treated for initial certification, final certification, and recertificationClarified requirements for transactions that trigger recertification requirements.

The revised Document Custody Manual is part of Ginnie Mae’s recently announced multi-year effort to effectively update program requirements and infrastructure relating to pool collateral. Ginnie Mae plans to engage issuers, document custodians and other stakeholders as the corporation undertakes a comprehensive review and reform of the policies and procedures relating to the management of pool collateral via third-party document custodians, additional information about changes to the Appendix V-1) of Ginnie Mae’s Mortgage Backed Securities Guide 5500.3, Rev. 1, found on

About the author
Aug 04, 2015
Post-Closing Challenges For Mortgage Brokers

How to navigate repurchase and clawback demands

Challenges And Solutions To Home Lending In Native American Communities Presented By NCRC

Bankers from around the nation participate in Redlining the Reservation webinar.

How Burnett v. NAR Will Impact The Mortgage Industry

Decision could make process harder for first-time buyers

First National Bank of Pennsylvania Settles Redlining Charges For $13.5 Million

Justice Department accuses major mortgage lender of discriminating against Black and Latino homebuyers in North Carolina.

FHA Announces New Rule Easing Branch Office Registration

Effective March 4, the Federal Housing Administration's updated regulation promotes broader participation in FHA programs, benefiting smaller loan originators and credit unions.