WASHINGTON, D.C.-Today, in All Participants Memorandum (APM) 24-06, Ginnie Mae announced revisions to its monthly single-family reporting requirements to include expanded Payment Default Status (PDS) reporting. The expanded PDS dataset will include loan default information, any mitigation actions taken, and the timing of those actions.

Including PDS data in single-family reporting provides essential metrics for enhanced default status monitoring for mortgage-backed securities (MBS) collateral, enabling Ginnie Mae to better understand Servicer liquidity stress and loss mitigation outcomes and improve sampling methodologies. PDS will support Ginnie Mae's modernization of its operational capabilities.

"The PDS revision is an important component toward our ongoing transition to granular loan-level data collection and analysis," said Ginnie Mae Principal Executive Vice President Sam Valverde. "These data will allow us to better evaluate the liquidity strains in the market and inform our understanding of risk management and oversight activities."

PDS submissions will be required beginning December 1, 2024, for Decembe​r reporting of November data and pertain to single-family data only. Testing will begin in the second calendar quarter of 2024. Detailed information regarding testing and implementation schedules, testing procedures, and training materials can be found on the Modernization Initiatives page on Ginnie Mae's website at: https://www.ginniemae.gov/issuers/issuer_training/Pages/modernization.aspx

For more information regarding the transition to the new reporting requirements, see APM 24-06.

If you have any questions regarding the policy changes in this announcement, please contact your account executive in the Office of Issuer and Portfolio Management or email [email protected].

Additional information about Ginnie Mae is available at www.ginniemae.gov and on X (formerly Twitter), YouTube, Facebook and LinkedIn.

About Ginnie Mae

Ginnie Mae is a wholly owned government corporation that attracts global capital into the housing finance system to support homeownership for veterans and millions of homeowners throughout the country. Ginnie Mae MBS programs directly support housing finance programs administered by the Federal Housing Administration, the Department of Veterans Affairs, the Department of Housing and Urban Development's Office of Public and Indian Housing and the Department of Agriculture Rural Housing Service. Ginnie Mae is the only MBS to carry the explicit full faith and credit of the United States government.

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