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Ginnie Mae Discloses Loan Data, Begins Modern Securitization Initiative

Effective immediately, ""Ginnie Mae"":http://www.ginniemae.gov/pages/default.aspx will release monthly loan-level data for existing, active single-family mortgage-backed securities (MBS), the company announced.


The data will include both new issuances and existing loans and pools and will be disclosed in two files--one for Ginnie Mae I data and one for Ginnie Mae II data. Both disclosure files will include information regarding borrowers' original credit score and debt-to-income ratios as well as current delinquency status.

The announcement marks a continued push by the company to provide comprehensive, transparent data on the loans backing its securities.

""The release of loan-level data for existing single-family MBS is an important step toward improving our transparency,"" said Ginnie Mae president Ted Tozer. ""Enhancing MBS disclosures assists Ginnie Mae in attracting global capital by meeting the needs of investors more effectively and enabling them to make better-informed investment decisions.""

The first release, put out Friday, includes both October and November disclosure information. Beginning in January


2014, the file will be released on the 10th basis day of each month.

The government agency, whose focus is on ensuring liquidity to support mortgage lending, also announced the start of the first phase of an initiative to modernize its securitization platform.

The plan kicked off with the release of four new systems applications for issuers: Request for Pool Numbers, Request for Commitment Authority, Submission of Master Agreements for Certification and Recertification, and Request Transfer of Issuer Responsibility.

The new applications are part of Ginnie Mae's ""Integrated Pool Management System (IPMS) modernization initiative,"" the company said in a release.

""IPMS is the foundation of our securitization platform, since it is used for Securities Issuance, Bond Administration, Data Validation, and Master Servicing,"" said Ginnie Mae president Ted Tozer. ""So, enhancing the functionality of this system is critical toward increasing the efficiency, effectiveness, and transparency of our securitization platform.""

The new initiative is the latest in Ginnie Mae's efforts to upgrade its securitization platform. Future phases of the IPMS modernization initiative will include moving the GinnieNET information system within the Ginnie Mae Enterprise Portal (GMEP) and developing common user experiences across all interfaces, Ginnie Mae said.

The new applications will be available to issuers via GMEP and--with the exception of pool number assignments--will be accessed through a security token, which the corporation says is better than the older, ""inefficient process"" used for verification.

About Author: Tory Barringer

Tory Barringer began his journalism career in early 2011, working as a writer for the University of Texas at Arlington's student newspaper before joining the DS News team in 2012. In addition to contributing to DSNews.com, he is also the online editor for DS News' sister publication, MReport, which focuses on mortgage banking news.

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