| Title: | Ginnie Mae Modifies GinnieNet for High-Balance “JM” Pool Types (APM 08-15) | | Source: | Ginnie Mae | | Date: | 8/27/2008 |
|  Related Document(s): | | | | |
Summary:
Effective with security issuances on and after September 1, 2008, Ginnie Mae’s electronic pooling system, GinnieNET, will
apply new edits to ensure that higher balance loans are being properly placed in Ginnie Mae pools. For all Single-Family fixed
rate pool types, excluding the “JM” pool type and all Adjustable Rate Mortgage (ARM) pool types, a warning error message will
be displayed when an FHA loan is transmitted for pooling and exceeds the Original Principal Balance of $370,953.00 (inclusive
of the mortgage insurance premium), and $556,429.00 for special locations (Hawaii, Alaska, Guam, and Puerto Rico).
See Related Documents to view APM 08-15.
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