Ginnie Mae Systems Overview

Ginnie Mae Systems Overview

Integrated Pool Management
Concept of Operations Ginnie Mae Website Issuer Custodian Other Ginnie Mae Systems Master Agreement Database Multifamily Database GinnieNET Network New Issuer Module Ginnie Mae Proprietary Systems Ginnie Mae Website Unclaimed Funds System REMIC Database Maintained by other contractors IPMS – Central Registry Module IPMS – New Pool Processing Module Platinum Database Pool Transfer Module IPA MBSIS Letter of Credit Module IPMS – Pool Reporting Module GMEC Bank of New York Proprietary Systems Fed Interface Automated Clearing House

Ginnie Mae Proprietary Systems IPMS Interfacing Modules
New Issuer Module New Pool Processing Module Pool Reporting Module Central Registry Module MBS Factor and Tax Reporting Module REMIC Database Module Multifamily Database Module Pool Transfer Module Master Agreement Module Letter of Credit Module

Other Ginnie Mae Proprietary Systems
GinnieNET Unclaimed Funds System Ginnie Mae Web Site Ginnie Mae Enterprise Contact System, (“GMECS”) REMIC and Platinum Securities Search Pages

Bank of New York Proprietary Systems
Interfacing Modules Automated Clearing House (“ACH”) Fedwire Interface

New Issuer Module PC based tracking, review, and approval module for Ginnie Mae Issuer applications Used by Ginnie Mae staff Interface to IPMS is batch via Connect Direct* Maintenance and Upgrade *Connect Direct is a software product from Sterling Commerce which facilitates file transfers

IPMS – New Pool Processing Module
Mainframe (batch and online) application that: Processes pools from GinnieNET Re-edits pools from GinnieNET Allows data entry of manual pools Checks Master Agreements Checks Commitment Authority, Status, and Pool Numbers Allows automatic and manual approval of pools Generates Multiple Issuer Pools Releases New Issue files to Federal Reserve Updates Bank’s Fed Delivery System with Pool Delivery Instructions Adds pools to Pool Reporting Module Creates investor position on Central Registry Maintenance and Upgrade

GinnieNET A web based application with a dedicated network communications facility to provide Ginnie Mae Issuers and Custodians with a timely, accurate, reliable and paperless method for: New Pool Processing Investor Reporting Certifications Transmissions are sent to the Pool Processing Agent (PPA), and Central Paying and Transfer Agent (CPTA) and the Mortgage-Backed Securities Administration Agent Interface is batch via Connect Direct* Maintenance and Upgrade Ginnie Mae Website *Connect Direct is a software product from Sterling Commerce which facilitates file transfers

Master Agreement Module
A PC based application that: Maintains and tracks the following Master Agreement forms: Master Servicing Agreement Servicer’s P&I Custodial Account Custodial Agreement Servicer’s T&I Custodial Account Corporate Resolution Creates confirmation letters and reports Recertifications and Document Custodian Transfers are updated from GinnieNET Interface is batch via Connect Direct* Maintenance and Upgrade *Connect Direct is a software product from Sterling Commerce which facilitates file transfers

Multifamily Database Module
Consists of two methods of access: A PC module which is updated by IPMS and shares common data with the Web application. Interface is via Connect Direct* from the mainframe Web application that allows brokers and the public to view and query Multifamily Mortgage Backed Securities pool information Maintenance and Upgrade *Connect Direct is a software product from Sterling Commerce which facilitates file transfers

IPMS – Pool Reporting Module
Mainframe (batch and online) application that: Processes Remaining Principal Balances (RPB) Allows for the manual data entry of RPBs Edits RPBs Calculates and disseminates Factors for Ginnie Mae I, Ginnie Mae II, and Platinum Pools Calculates and generates Ginnie Mae I and Ginnie Mae II Guaranty Fee ACH collections Calculates Certification Due Dates Tracks Issuer Reassignments and Mergers Tracks Custodian changes Calculates Ginnie Mae II P&I collection Calculates ARM rate changes Maintains MBS and Multiclass pool detail Updates Multifamily database Maintenance and Upgrade

IPMS - Central Registry Module
Mainframe (batch and online) application that: Maintains all of Ginnie Mae MBS certificate/book entry positions and security holders Allows posting of the original issuance certificates/book entry positions and the automatic validation of certificate transfers Contains pool, investor and Issuer information Makes P&I payments based on information in the central registry Reconciled with the Fed nightly Ginnie Mae’s guarantee is based on the central registry Maintenance and Upgrade

Unclaimed Funds System
PC based system that: Tracks all Ginnie Mae I unclaimed P&I funds received from issuers Tracks all Ginnie Mae II unclaimed funds from investor checks Updated to reflect release of funds to investors Maintenance and Upgrade

Pool Transfer Module PC based system that:
Processes requests from issuers for transfer of servicing rights from one Issuer to another Used by Ginnie Mae staff and contractor Interface is batch via Connect Direct* Maintenance and Upgrade *Connect Direct is a software product from Sterling Commerce which facilitates file transfers

Letter of Credit Module
PC based application that: Creates, by Issuer, a report of delinquent pool final certifications and recertifications Calculates tolerance levels based on Ginnie Mae policy Reports are generated and mailed LOC is posted, recorded and tracked IPMS interface is batch via Connect Direct* Maintenance and Upgrade *Connect Direct is a software product from Sterling Commerce which facilitates file transfers

REMIC Database Module Web based application which allows investors to query and view published Ginnie Mae REMIC information Interface is via Connect Direct* to/from IPMS Maintenance and Upgrade *Connect Direct is a software product from Sterling Commerce which facilitates file transfers

Ginnie Mae Web Site Provides an additional method of communication with Ginnie Mae stakeholders Used to launch Multi-family Database, REMIC and Platinum Securities Search Pages Houses a rolling thirteen month pool RPB, principal and interest payment factor, OID and MDF data Maintained by Ginnie Mae’s Mortgage-Backed Securities Administration Agent

Ginnie Mae Enterprise Contact System
(GMECS) Web based application that: Maintains all of Ginnie Mae’s contact information enterprise-wide Is the database of record for all contact data Is accessible via the internet by all systems and entities that require access to contact information Maintained by Ginnie Mae’s Mortgage-Backed Securities Administration Agent

which facilitates mainframe file transfers
Fedwire Interface A Bank of New York Mellon proprietary system that is used to create Fedwire securities transfer messages and sends delivery instructions to the Federal reserve Bank (“Fed”) for free delivery of securities settlement. A method of transmitting bulk data to the Fed Transmission is via NDM* transmissions *NDM (“Network Data Mover”) is a software product from Sterling Commerce which facilitates mainframe file transfers

Automated Clearing House (ACH)
A nationwide funds transfer network which enables participating institutions (Issuers and CPTA) to distribute electronic credit and debit entries to bank accounts and settle such entries IPMS interface is NDM* *NDM (“Network Data Mover”) is a software product from Sterling Commerce which facilitates mainframe file transfers

Process New Issuer Applications
Function 1 Process New Issuer Applications New applicants apply to Ginnie Mae to obtain authority to issue Ginnie Mae Mortgage Backed Securities

Function 1 Process New Issuer Applications New Issuer Module New Pool Processing Module

Function 1 Process New Issuer Applications New Issuer Module Add, update, approve and archive an application

Function 1 Process New Issuer Applications IPMS - New Pool Processing Module Add, update, and view Issuer Issuer status Issuer contact information

Function 1 Process New Issuer Applications Source Applicant Target Office of Mortgage Backed Securities Inputs Application package, resumes, financial data, Data Entry sheet Outputs Approval Letter, Secretary Memo, GinnieNET Enrollment package Frequency Any time throughout the month

Request and Approve Commitment Authority
Function 2 Request and Approve Commitment Authority and Pool Numbers Approved Issuers must apply for commitment authority Ginnie Mae approves commitment authority requests Issuer must request pool numbers in advance

Function 2 Request and Approve Commitment Authority and Pool Numbers IPMS - New Pool Processing Module Request, process, adjust delete, close out commitments Adjust commitment fee Request and release pool numbers

Function 2 Request and Approve Commitment Authority and Pool Numbers Source Issuer Target Office of Program Operations and Office of Mortgage Backed Securities Inputs Letter of Transmittal for Commitment Authority and/or Pool Numbers, Commitment to Guarantee MBS, Fees and Cash Receipt Voucher Outputs Confirmation Letter for Commitment Approval, Confirmation Letter for Pool Numbers Assigned Frequency Monthly, Quarterly

IPMS – New Pool Processing
Function 3 IPMS – New Pool Processing Certification, review and approval of loan and pool documents Issuance of securities

Function 3 New Pool Processing
Ginnie Mae Website Ginnie Mae Website Multifamily Module Master Agreement Module New Pool Processing Module Fedwire Securities Service Pool Reporting Module Central Registry Module Fedwire Interface

Function 3 New Pool Processing GinnieNET
Ginnie Mae Website Add, change or delete new pools Manually enter or import loan details Apply Ginnie Mae edits before transmitting to network Must be authorized to submit pools to the network Fingerprint verification Targeted Lending Custodian Certification

Master Agreement Module
Function 3 New Pool Processing Master Agreement Module PC based module that maintains account information for the following Master Agreements: Form HUD 11707 Form HUD 11709 Form HUD 11715 Form HUD 11720 Form HUD 11702

IPMS – New Pool Processing Module
Function 3 New Pool Processing IPMS – New Pool Processing Module Allows data entry of manual pools/Update file of GinnieNET electronic pools Checks Master Agreements Checks commitment authority, issuer status, pool numbers Creates investor position on Central Registry Add new pool to Pool Reporting Module Release pools to Fed for delivery

Function 3 New Pool Processing Fedwire Interface
Batch transmission (bulk data) to the Fed New Pools Creates Fed wires with securities delivery instructions

Function 3 New Pool Processing Federal Reserve Bank
Process new issue bulk data file Update Securities Description Master file with CUSIP information Send broadcast to Fedwire participants advising that new issues have been added

Multifamily Database Module
Function 3 New Pool Processing Multifamily Database Module Search for Multifamily pools by: CUSIP Number FHA Case Number Pool Number Pool type Issuer number Provides Multifamily pool information for Project Loan Pools Updated by IPMS

IPMS – New Pool Processing
Function 3 IPMS – New Pool Processing Source Issuer, Document Custodian Target Pool Processing Agent Inputs Pool Information, Mortgage Details. Document Custodian Certification and Agreement Outputs Targeted Lending Loan Level Detail report, New Issue file and Delivery Instructions to the fed Wire System and updates Multifamily Database, Pool reporting and Central Registry Frequency Daily

Remaining Principal Balance (RPB) Factor Reporting Processing
Function 4 Remaining Principal Balance (RPB) Factor Reporting Processing Issuers report RPB for each pool/loan package

Function 4 Remaining Principal Balance (RPB) Factor Reporting Processing Ginnie Mae Website GinnieNET FTP or NDM Pool Reporting Module

Function 4 Remaining Principal Balance (RPB) Factor Reporting Processing GinnieNET Ginnie Mae Website Investor Reporting Module Initial RPB Reporting All RPB corrections Multifamily prepayment penalties

Function 4 Remaining Principal Balance (RPB)
Factor Reporting Processing IPMS – Pool Reporting Module Update current RPB from transmissions and GinnieNET Manually update RPB Edit RPB Calculate MBS and Platinum Pool factors Create Fed P&I Factor Files Disseminate MBS and Platinum Pool factors

Function 4 Remaining Principal Balance (RPB) Factor Reporting Processing Source Issuer Target Central Paying and Transfer Agent (CPTA) Inputs Monthly RPBs from Issuers Outputs RPBs and factors reported to FRBNY and Investors, Issuer Statistical Reports for Ginnie Mae Frequency Monthly

Function 5 Ginnie Mae I Depository Payment
Calculation, ACH and Pre-Collection Notice Under the Ginnie Mae I MBS Program, Issuers accounts are debited by ACH for the P&I due to the Depository

Calculation, ACH and Pre-Collection Notice Pool Reporting Module Fedwire Interface Central Registry Module FRB Automated Clearing House Fedwire Securities Service

Calculation, ACH and Pre-Collection Notice IPMS - Pool Reporting Module Calculates pool P&I Creates pre-collection notices based on the depository’s pro-rata share Creates Fed ACH debit file

Calculation, ACH and Pre-Collection Notice IPMS – Central Registry Module Maintains all outstanding MBS securities Nightly position reconciliation with the Depository Calculates Depository’s pro-rata share of the pool Reconciles payment with the Depository

Calculation, ACH and Pre-Collection Notice FRB Automated Clearing House (ACH) ACH file transmitted to the Federal Reserve Bank via bulk data transmission for processing

Calculation, ACH and Pre-Collection Notice Federal Reserve Bank For Ginnie Mae I and Platinum The contractor sends to FRB the P&I factor information for the Ginnie Mae I and Platinum securities with a payment date of the 15th of the month For Ginnie Mae II and Platinum The contractor sends to FRB the P&I factor information for the Ginnie Mae II and Platinum securities with a payment date of the 20th of the month

Calculation, ACH and Pre-Collection Notice Federal Reserve Bank On the business day before payment, contractor transmits via the Federal Reserve System ACH a pre-notification ACH settlement file for the Ginnie Mae I payment date of the 15th of the month FRB verifies the credit amount on the ACH file to the payment amount appearing on the debit P&I notification advice FRB generated after processing the Ginnie Mae I P&I factor file for the payment date of the 15th of the month

Calculation, ACH and Pre-Collection Notice Federal Reserve Bank FRB processes the P&I factor file and faxes an error report of factor and par balance holdings discrepancies to the contractor for their input in resolving discrepancies. Contractor investigates the errors and faxes their response by noon that day. FRB processes the changes and creates a debit reconciliation file (debit P&I notification) which is delivered to the contractor via bulk data. During the same process, the credit P&I notifications are created and delivered to the holder of record of the securities.

Calculation, ACH and Pre-Collection Notice Source Issuer Target Central Paying and Transfer Agent (CPTA) Inputs Monthly RPBs from Issuers Outputs Pre-Collection notice to Issuer and ACH file to FRBNY, Factor error report, Debit P&I notification Frequency Monthly

Ginnie Mae II ACH and Pre-Collection Notice
Function 6 Ginnie Mae II ACH and Pre-Collection Notice Under the Ginnie Mae II MBS Program, Issuers are required to deposit into a custodial account funds sufficient to enable the Central Paying and Transfer Agent (CPTA) to make payments to security holders

Function 6 Ginnie Mae II ACH and Pre-Collection Notice Pool Reporting Module Automated Clearing House

Function 6 Ginnie Mae II ACH and Pre-Collection Notice
IPMS – Pool Reporting Module Calculates the pool P&I Creates pre-collection notices Creates and transmits ACH file

Function 6 Ginnie Mae II ACH and Pre-Collection Notice
Automated Clearing House (ACH) Debit Issuers’ account and credit P&I account at the CPTA

Function 6 Ginnie Mae II ACH and Pre-Collection Notice Source Issuer Target Central Paying and Transfer Agent (CPTA) Inputs Monthly RPBs from Issuers Outputs Pre-Collection notice and debit Issuers account via ACH Frequency Monthly

Collection of Ginnie Mae I and II Guaranty Fee
Function 7 Collection of Ginnie Mae I and II Guaranty Fee Issuers are required: to pay a monthly guaranty fee to Ginnie Mae for each pool maintain accounts for guaranty fee payments

Collection of Ginnie Mae I and II Guaranty Fee
Function 7 Collection of Ginnie Mae I and II Guaranty Fee Pool Reporting Module Automated Clearing House

Function 7 Collection of Ginnie Mae I and II Guaranty Fee
IPMS – Pool Reporting Module Calculates the guaranty fee for both Ginnie Mae I and Ginnie Mae II pools Creates ACH file

Function 7 Collection of Ginnie Mae I and II Guaranty Fee
Automated Clearing House (ACH) Debits issuers’ accounts for the amount of Guaranty Fee for both Ginnie Mae I and Ginnie Mae II pools

Function 7 Ginnie Mae II ACH and Pre-Collection Notice Source Issuer Target Central Paying and Transfer Agent (CPTA) and Ginnie Mae Inputs Monthly RPBs from Issuers Outputs Funding of ACH for Guaranty Fee payment Frequency Monthly

Central Registry and Payment Functions
Repository of all Ginnie Mae pool, security and investor data Under Ginnie Mae II Program, Issuers make P&I funds available to the CPTA for payment to security holders by the 20th calendar day Annual tax reporting for Ginnie Mae II Ginnie Mae I emergency payments

Pool Reporting Module Central Registry Module Unclaimed Funds System Automated Clearing House

Central Registry and Payment Functions IPMS - Central Registry
Calculates investor’s pro-rata share of the pool P&I Creates checks and vouchers

Central Registry and Payment Functions Unclaimed Funds System
Tracks payment information of un-cashed checks for both Ginnie Mae I and Ginnie Mae II investors

Source Pool Reporting and Central Registry Target Security Holder Inputs Pool factor, Security holder information, Returned P&I checks Outputs Payment calculation for each security holder in the pool plus payment to security holder Frequency Payment on the 15th and 20th calendar day

Collection and Dissemination of Financial Data
Function 9 Collection and Dissemination of Financial Data RPB Factor dissemination Monthly accounting reports (11710D) are submitted through GinnieNET Quarterly Issuer Certifications are submitted through GinnieNET Weighted average and geographic data is disseminated

Function 9 Collection and Dissemination of Financial Data Ginnie Mae Website GinnieNET MBSIS All other recipients Pool Reporting Module SECTOR Inc

Function 9 Collection and Dissemination of Financial Data GinnieNET Ginnie Mae Website Form HUD 11710D and Quarterly Certifications Form HUD and 11714SN RPB Collection

Function 9 Collection and Dissemination of Financial Data
IPMS – Pool Reporting Module Maintain current and prior RPBs and factors Calculates weighted average and geographic data for new pools

Function 9 Collection and Dissemination of Financial Data Source GinnieNET, MBSIS , Pool Reporting Target FRBNY, Broker/Dealer, Service Bureau, Wall Street Inputs RPB, Factor calculation, data disclosure files, quarterly certifications, form HUD 11710D, form HUD and 11714SN Outputs Factor data, data disclosure files, quarterly certifications, form HUD 11710D, form HUD and 11714SN, Fed P&I Factor Files Frequency Bi-Monthly, monthly, quarterly

Function 10 Transfer of Servicing
Issuers must submit request to Ginnie Mae for transfer of servicing Ginnie Mae approves request and processes transfers

Function 10 Transfer of Servicing New Pool Processing Module
Pool Transfer Module Pool Reporting Module

Function 10 Transfer of Servicing Pool Transfer Module
Input of Issuer request Calculate transfer fee Ginnie Mae approves request Creates approval letter

New Pool Processing Module
Function 10 Transfer of Servicing New Pool Processing Module Check transfer eligibility status of pools and Issuer On the transfer effective date, pools purchased are reassigned to the purchasing Issuer’s portfolio

Function 10 Transfer of Servicing IPMS – Pool Reporting Module Reassign pools Calculates recertification due dates

Function 10 Transfer of Servicing Source Target Inputs Outputs
Issuer Target Central Paying and Transfer Agent, Ginnie Mae Inputs Letter of request, diskette, fee Outputs Letter of Approval, Secretary Memo, List of Pools Transferred Frequency Anytime

Final Certification and Recertification
Function 11 Final Certification and Recertification Letter of Credit Ginnie Mae requires all pools to be certified within 12 months of pool issuance or servicing change Issuer must post Letter of Credit if Issuer fails Ginnie Mae’s pool/loan threshold

Function 11 Final Certification and Recertification Letter of Credit Ginnie Mae Website Pool Reporting Module GinnieNET Letter of Credit Module

Function 11 Final Certification and Recertification Letter of Credit GinnieNET Ginnie Mae Website Process and submits Final Certifications and Recertifications to IPMS electronically

Final Certification and Recertification IPMS – Pool Reporting Module
Function 11 Final Certification and Recertification Letter of Credit IPMS – Pool Reporting Module Updates pool certification or recertification information Tracks certification delinquency status

Final Certification and Recertification Letter of Credit Module
Function 11 Final Certification and Recertification Letter of Credit Letter of Credit Module Monitors delinquent pools and loans Generates delinquency letters Calculates LOC requirements

Function 11 Final Certification and Recertification Letter of Credit Source Issuer, Document Custodian Target Pool Processing Agent, Central Paying and Transfer Agent Inputs Schedule of Pooled Mortgages, Pool Reporting Module Outputs Letter of Credit, Certification Confirmation Letters, Monthly Letter of Credit Delinquency Reports Frequency Monthly

Certificate Transfers
Function 12 Certificate Transfers Security holder re-registration of Ginnie Mae certificate due to trade of security or loss or damaged certificate Deposits or withdrawal to/from the Depository

Function 12 Certificate Transfers Central Registry Module Fedwire Securities Service Fedwire Interface

Certificate Transfers IPMS - Central Registry Module
Function 12 Certificate Transfers IPMS - Central Registry Module A repository of all Ginnie Mae security holders Contains all open and cancelled securities

Function 12 Certificate Transfers Source Investors Target Central Paying and Transfer Agent Inputs Security Holder Requests, Lost Instrument Bond, Affidavit of Loss, Fee Outputs Stop Transfer Order, Schedule of Subscribers and Ginnie Mae II Contractual Agreement, New Certificate Frequency Daily

Function 13 Platinum Processing Issue New Platinum
Reconcile MBS collateral Add, change, delete MBS pools Calculate Platinum Factors Update Platinum Search Page on the Web

Function 13 Platinum Processing Ginnie Mae Website Platinum Database
Pool Reporting Module Central Registry Module Fedwire Securities Service Fedwire Interface

Function 13 Platinum Processing IPMS – Pool Reporting Module Contains all Platinum Pools and the underlying MBS pools Interfaces with the Platinum Search Page on the Web

Function 13 Platinum Processing Federal Reserve Bank
Maintains 20 Limited Purpose Accounts (“LPA”) to support Platinum issuance Fax collateral balances in the LPA to the contractor so that Trust Receipts can be created prior to Platinum issuance Credits the paying agent account for the MBS pools and debit that account to pay the Platinum security holders

Function 13 Platinum Processing Source Target Inputs Outputs Frequency
Depositor Target Platinum Trustee, Platinum Administrator Inputs Deposit Agreement, MBS Collateral, MBS Factors Outputs Trust Receipt, PO Bond, Delivery Instructions to the Fed, Updates Central Registry Frequency Daily after “A” factor tape

REMIC Information Agent
Function 14 REMIC Information Agent Receive REMIC files from participants Update REMIC Database Update REMIC Search Page on the Web Reconcile REMIC collateral at the Depository

Function 14 REMIC Information Agent Ginnie Mae Website REMIC Database * Via Connect Direct from mainframe, Web access Pool Reporting Module Fedwire Interface Fedwire Securities Service *Connect Direct is a software product from Sterling Commerce which facilitates file transfers

REMIC Information Agent IPMS – Pool Reporting Module
Function 14 REMIC Information Agent IPMS – Pool Reporting Module Contains data on all REMIC issuances Interfaces with the REMIC Search Page on the Web

Function 14 REMIC Information Agent Federal Reserve Bank Each trustee sends new issue and P&I factor information to the Fed Each trustee is responsible to fund its paying agent account by 9 am ET on payment date Each trustee holds underlying securities in a limited purpose account (LPA)

Function 14 REMIC Information Agent Source Trustees, Financial Printers, Accountants, Operational Financial Advisor Target REMIC Information Agent Inputs Factor Files, Floating Rate Reset Files, Supplemental Statements, relay Files, Offering Circular Supplement, Announcements, Financial Data Statements Outputs REMIC Database and Web page Frequency Monthly

Ginnie Mae Systems Overview

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