Ginnie Mae mortgage-backed securities issuers will begin to require loan-level data for single family loan pools beginning in September.
The new guidance does not include HMBS pools, a Ginnie Mae spokeswoman told RMD. It will apply to all other Ginnie Mae MBS pools.
Through an All Participants Memorandum issued this week, GNMA said it will require new information about the loans in its pools, including whether the loan was originated by a mortgage broker or correspondent lender. It will also require notification as to whether the loan is a first time homebuyer and for FHA loans, issuers will be required to disclose the annual and upfront insurance premium amounts.
The new reporting requirements go into effect in September and beginning January, Ginnie Mae will begin to reject pools from being issued if they do not include the new data components, according to the APM.
Written by Elizabeth Ecker
