Ginnie Mae Extends Relief from Delinquency Threshold Requirements

Ginnie Mae (Ginnie) extended the exemption announced in APM 20-06 (which was extended in APM 20-17 and again in APM 21-01) that provides for relief from the acceptable delinquency threshold requirements.  Pursuant to this announcement, Ginnie is extending the exclusion of delinquencies that occurred on or after April 2020 from Ginnie’s acceptable delinquency threshold requirements.  This extension runs through July 31, 2022, for Ginnie issuers that complied with Ginnie’s delinquency rate thresholds as demonstrated by their April 2020 investor accounting reports (which reflected March 2020 servicing data).

Issuers should note that APM 20-06 and its extensions do not change the computation of delinquency ratios in Ginnie’s Reporting and Feedback System and in Issuer Operational Performance Profile.