Ginnie Mae MBS Guide Chapter 15 — Payments to Security Holders

gnma-mbs-ch15

GNMA MBS Guide Chapter 15 — monthly P&I pass-through obligation (Ginnie Mae I 15th-day funding cutoff, Ginnie Mae II 19th/20th-day funding cutoffs, remittance advice delivery, advances from corporate funds, RPB-based payment computation, excess funds / Pool Advance Agreements).

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source:
  type: regulation
  id: gnma-mbs-ch15
  authority: Ginnie Mae MBS Guide Chapter 15 — Payments to Security Holders
  description: |
    GNMA MBS Guide Chapter 15 — monthly P&I pass-through obligation
    (Ginnie Mae I 15th-day funding cutoff, Ginnie Mae II 19th/20th-day
    funding cutoffs, remittance advice delivery, advances from corporate
    funds, RPB-based payment computation, excess funds / Pool Advance
    Agreements).
obligations:
  - id: gnma-mbs-ch15-gnma-i-funds-by-15th
    canonical_id: gnma-mbs-ch15-gnma-i-funds-by-15th
    section: Ginnie Mae MBS Guide Ch. 15, Part 2, Section A — Timing of Deposits, Withdrawals and Payments (Ginnie Mae I)
    description: |
      For each Ginnie Mae I pool, [ISSUER] must have, prior to 7:00 a.m.
      Eastern Time on the 15th calendar day of each month (or, if the 15th
      calendar day is not a business day, then the next business day),
      "same day" or "good" funds in the central P&I custodial account in
      the amount described in Chapter 15 Part 4.
    type: do
    audit_question: For every Ginnie Mae I pool month, can [ISSUER] evidence that "same day" or "good" funds in the Chapter 15 Part 4 amount were in the central P&I custodial account prior to 7:00 a.m. Eastern Time on the 15th calendar day (or next business day if the 15th was not a business day)?
    program_review: Does the program ensure, for each GM I pool, 'same day'/'good' funds in the Chapter 15 Part 4 amount are in the central P&I custodial account before 7:00 a.m. ET on the 15th calendar day (or next business day if the 15th is not a business day)?
    file_review: For each GM I pool month, confirm good funds in the required amount were in the central P&I account before the 7:00 a.m. ET 15th-day deadline.
    judgment: false
    feeds: []
    workflow_phase: servicing
    owner_role: default_servicing_analyst
    secondary_owner_role: compliance_officer
    cadence: monthly
    consequence: ''
    tags:
      - round-b
      - regulator-direct
      - gnma
      - mbs-guide
      - ch15
      - ginnie-mae-i
      - p-and-i-funding
      - 15th-day
      - promoted
    primary_source:
      tier: 1
      authority: Ginnie Mae MBS Guide Chapter 15, Part 2, Section A — Timing of Deposits, Withdrawals and Payments (Ginnie Mae I)
      source_class: gnma-mbs-guide
      source_url: https://www.ginniemae.gov/issuers/program_guidelines/MBSGuideLib/Chapter_15.pdf
      snapshot_id: 24308bd5396c32ef
      fetched_at: '2026-05-23T00:30:00Z'
      content_hash: sha256:4e5872fa961efc9087d28a2e3297c42bc37f39366f6b0b2692c4966faf98915d
      paragraph_quote: '(1) ACH Payments. Prior to 7:00 a.m. Eastern Time on the 15th calendar day of each month '
      drafter_attestation: Copied verbatim from GNMA MBS Guide Chapter 15 snapshot 24308bd5396c32ef at 2026-05-23.
    promoted_at: '2026-05-23T01:32:23+00:00'
    promoted_from: gnma-mbs-ch15-roundb-v1.yaml
  - id: gnma-mbs-ch15-advances-from-own-funds
    canonical_id: gnma-mbs-ch15-advances-from-own-funds
    section: Ginnie Mae MBS Guide Ch. 15, Part 2, Section E — Advances (Ginnie Mae I)
    description: |
      If necessary to cover shortfalls in collections, [ISSUER] must
      advance its own funds into P&I custodial accounts in order to effect
      full and timely payment of all amounts due security holders, with
      such advances deposited into the accounts by the time and date
      specified in Chapter 15 Part 2 Section A(1).
    type: do
    audit_question: For every month with a collection shortfall on a Ginnie Mae I pool, can [ISSUER] evidence that [ISSUER]-funded advances were deposited into the P&I custodial account by the time and date specified in Chapter 15 Part 2 Section A(1) to effect full and timely payment of amounts due security holders?
    program_review: Does the program ensure Issuer-funded advances cover collection shortfalls and are deposited into the P&I custodial account by the Section A(1) time/date to effect full and timely security-holder payment?
    file_review: For shortfall months on GM I pools, confirm Issuer-funded advances were deposited by the Section A(1) deadline.
    judgment: false
    feeds: []
    workflow_phase: servicing
    owner_role: default_servicing_analyst
    secondary_owner_role: compliance_officer
    cadence: monthly
    consequence: ''
    tags:
      - round-b
      - regulator-direct
      - gnma
      - mbs-guide
      - ch15
      - advances
      - collection-shortfall
      - promoted
    primary_source:
      tier: 1
      authority: Ginnie Mae MBS Guide Chapter 15, Part 2, Section E — Advances (Ginnie Mae I)
      source_class: gnma-mbs-guide
      source_url: https://www.ginniemae.gov/issuers/program_guidelines/MBSGuideLib/Chapter_15.pdf
      snapshot_id: 24308bd5396c32ef
      fetched_at: '2026-05-23T00:30:00Z'
      content_hash: sha256:4e5872fa961efc9087d28a2e3297c42bc37f39366f6b0b2692c4966faf98915d
      paragraph_quote: 'If necessary to cover shortfalls in collections, the issuer must advance its own funds into P&I '
      drafter_attestation: Copied verbatim from GNMA MBS Guide Chapter 15 snapshot 24308bd5396c32ef at 2026-05-23.
    promoted_at: '2026-05-23T01:32:23+00:00'
    promoted_from: gnma-mbs-ch15-roundb-v1.yaml
  - id: gnma-mbs-ch15-rpb-accurate-reporting
    canonical_id: gnma-mbs-ch15-rpb-accurate-reporting
    section: Ginnie Mae MBS Guide Ch. 15, Part 4, Section D — Payment Based on Remaining Principal Balances
    description: |
      Notwithstanding Chapter 15 Part 4 Sections B and C, [ISSUER]'s
      payments of principal to security holders in each month must be
      based on the RPB reported for the related pool in that month, as
      corrected through the close of business on the fourth business day
      of the month. Inaccurate RPB reporting is considered a failure by
      [ISSUER] to remit timely and accurate payment to security holders.
    type: do
    audit_question: For every monthly principal payment to security holders, can [ISSUER] evidence that the payment amount was based on the RPB reported for the related pool that month, as corrected through the close of business on the fourth business day of the month?
    program_review: Does the program ensure monthly principal payments to security holders are based on the RPB reported for the related pool that month, as corrected through close of business on the 4th business day (inaccurate RPB = failure to remit timely/accurate payment)?
    file_review: For monthly principal payments, confirm the amount was based on the pool's reported RPB as corrected through the 4th business day.
    judgment: false
    feeds: []
    workflow_phase: servicing
    owner_role: default_servicing_analyst
    secondary_owner_role: compliance_officer
    cadence: monthly
    consequence: ''
    tags:
      - round-b
      - regulator-direct
      - gnma
      - mbs-guide
      - ch15
      - rpb-based-payment
      - fourth-business-day
      - promoted
    primary_source:
      tier: 1
      authority: Ginnie Mae MBS Guide Chapter 15, Part 4, Section D — Payment Based on Remaining Principal Balances
      source_class: gnma-mbs-guide
      source_url: https://www.ginniemae.gov/issuers/program_guidelines/MBSGuideLib/Chapter_15.pdf
      snapshot_id: 24308bd5396c32ef
      fetched_at: '2026-05-23T00:30:00Z'
      content_hash: sha256:4e5872fa961efc9087d28a2e3297c42bc37f39366f6b0b2692c4966faf98915d
      paragraph_quote: 'Inaccurate RPB reporting is considered a failure by the issuer to remit timely and accurate '
      drafter_attestation: Copied verbatim from GNMA MBS Guide Chapter 15 snapshot 24308bd5396c32ef at 2026-05-23.
    promoted_at: '2026-05-23T01:32:23+00:00'
    promoted_from: gnma-mbs-ch15-roundb-v1.yaml
_promotion_history:
  - promoted_at: '2026-05-23T01:31:38+00:00'
    candidate_path: obligations\_remediation\_round_b_drafts\gnma-mbs-ch15-roundb-v1.yaml
    candidates_promoted: 0
    candidates_skipped_existing: 0
  - promoted_at: '2026-05-23T01:32:23+00:00'
    candidate_path: obligations\_remediation\_round_b_drafts\gnma-mbs-ch15-roundb-v1.yaml
    candidates_promoted: 3
    candidates_skipped_existing: 0

Verbatim regulatory text (3)

Verbatim provisions from Ginnie Mae MBS Guide Chapter 15 — Payments to Security Holders — each quote is a verified substring of the regulator-published source snapshot, not retyped. Quoted for reference; this is not legal advice. The operational layer (P&P updates, prompts) lives in the regulation update kits.

Ginnie Mae MBS Guide Ch. 15, Part 2, Section A — Timing of Deposits, Withdrawals and Payments (Ginnie Mae I)

(1) ACH Payments. Prior to 7:00 a.m. Eastern Time on the 15th calendar day of each month

Source: Ginnie Mae MBS Guide Chapter 15, Part 2, Section A — Timing of Deposits, Withdrawals and Payments (Ginnie Mae I) · source URL · snapshot 24308bd5396c32ef

Ginnie Mae MBS Guide Ch. 15, Part 2, Section E — Advances (Ginnie Mae I)

If necessary to cover shortfalls in collections, the issuer must advance its own funds into P&I

Source: Ginnie Mae MBS Guide Chapter 15, Part 2, Section E — Advances (Ginnie Mae I) · source URL · snapshot 24308bd5396c32ef

Ginnie Mae MBS Guide Ch. 15, Part 4, Section D — Payment Based on Remaining Principal Balances

Inaccurate RPB reporting is considered a failure by the issuer to remit timely and accurate

Source: Ginnie Mae MBS Guide Chapter 15, Part 4, Section D — Payment Based on Remaining Principal Balances · source URL · snapshot 24308bd5396c32ef