01_MH__Reports_Requirement_ATTACHMENT___A.doc

ATTACHMENT A 01/01/2007

Ginnie Mae Manufactured Housing Reporting Instructions -

Requirements for Accounting Report Forms

Purpose of the MHAP -1 Report: This report is to identify all Ginnie Mae manufactured housing acquired properties (Real Estate Owned) presently managed by the subservicer. The subservicer should report a property on the manufactured housing acquired properties (MHAP) reports when Ginnie Mae acquires a property through either a (1) Repossession, (2) Abandoned, or (3) when a whole loan. In situations (1) and (2), the subservicer should transfer the loan (property) from the Manufactured housing Holding Loans (MHHR-2) reports to the MHAP-2 and MHAP-1 reports. In situation (3), the subservicer should transfer the loan (property) from the Manufactured housing Whole Loan (MHWL-2) reports to the MHAP-2 and MHAP-1 reports. Transactions involving receipt or disbursement of funds should be reported in the month that the funds were actually wired to or from the subservicer.

Preparation Instructions:

1.

Ginnie Mae Pool Number - enter the Ginnie Mae pool number assigned to the loan

2. Subservicer Loan Number - enter the loan number assigned by subservicer.

3. Loan Type - enter the loan type whether the loan is a VA, FHA or a RHS loan.

4.

State Location of Property - enter the state in which the property is located. Use the two letter state abbreviation, e.g. OK = Oklahoma, TX = Texas, etc.

5. Date of Acquisition - enter the date property became a Real Estate Owned property.

6. Purchase Price - enter the amount of principal and interest paid by Ginnie Mae to security holders to purchase the loan out of the Ginnie Mae MBS servicing pool. The purchase price should include all unreimbursed principal and interest payments made by Ginnie Mae to the security holders while the loan was delinquent.

7. Collections – enter the amount of collections received from mortgagors (whose loans are still on the MHAP reports) to clear their credit report of outstanding debt. (Once the loan is removed from the MHAP reports, these collections appear on the MHPR-7 wire report only.)

8. Charge-offs – enter the amount of principal and interest charge-off for the loan. Some reasons for charge-offs are (1) a loan was incorrectly amortized, (2) a judge may forgive part of the note, (3) the home may have been abandoned.

9. Write-offs – enter the dollar amount necessary to reduce the property’s balance to zero. The following month this loan should be removed from the MHAP-1 report. This amount will equal the MHAP-2, line 7, column 1b.

10. Total – enter the property’s net balance at the reporting month’s end. This amount is the purchase price less any collections, charge-off and/or write-off amounts. This amount should agree with the MHAP-2, line 8, column 1b.

Purpose of the MHAP-2 Report: This report summarizes all activity on Ginnie Mae’s acquired manufactured housing properties (real estate owned) by defaulted issuer.

Preparation Instructions:

Line 1 - Beginning Inventory - enter the number and dollar amount of manufactured housing properties owned by Ginnie Mae at the beginning of the reporting period. The number and dollar amount should agree with the prior month’s ending balance. Note: The government’s fiscal year end is September 30 and the beginning fiscal inventory balance should be as of October 1st. The cumulative to date column is the beginning at the time of the portfolio’s transfer to the subservicer.

Line 2 -Purchases - enter the number and amount of principal and interest paid by Ginnie Mae to the security holder to purchase the properties out of the Ginnie Mae MBS pool. The purchase price should include all unreimbursed principal and interest payments made by Ginnie Mae to the security holder while the loan was delinquent. This amount should equal the MHAP-3, column 6 and the MHPR-1 or 2, line 8. Update the fiscal year to date and cumulative columns to reflect the monthly purchases.

Line 3- Transfers-In - enter the number of loans and principal and interest dollar amount of manufactured housing properties transferred in from holding reports (MHHR-2) or the whole loan (MHWL-2) reports. Update the fiscal year to date and cumulative columns to reflect monthly transfers in from the MHHR or MHWL reports.

Line 4 - Sales (Gross Proceeds) (-) enter the number and dollar amount of manufactured housing properties sold by the subservicer during the reporting month. This amount will equal the total of MHAP-4, column 6. Update the fiscal year to date and cumulative columns to reflect any proceeds received.

Line 5 – Collections - enter the amount of collections received from mortgagors (whose loans are still on the MHAP reports) to clear their credit report of outstanding debt. (Once the loan is removed from the MHAP reports, these collections appear on the MHPR-7 wire report only.)

Line 6 - Charge-Offs - enter the amount of principal and interest charge-off for the loan. Some reasons for charge-offs are (1) a loan was incorrectly amortized, (2) a judge may forgive part of the note, (3) the home may have been abandoned.

Line 7 - Write-offs (-) enter the dollar amount necessary to reduce the property’s balance to zero. The following month this loan should be removed from the MHAP-1 report. This amount will equal the MHAP-1, column 9 or the MHAP-4, column 6.

Line 8 - Ending Inventory - enter the number and dollar amount of manufactured housing acquired properties held at the end of the month. Update the fiscal year to date and cumulative columns to reflect any changes. The Ending Inventory should agree to the MHAP-1, column 10.

Purpose of the MHAP-3 Report: This report is used to collect detailed information, by defaulted issuer, on the purchase of manufactured housing acquired properties by Ginnie Mae out of the MBS servicing portfolio serviced by the subservicer. This should match the MHPR-1 or 2, line 8.

Preparation Instructions:

1.

Ginnie Mae Pool Number - enter the Ginnie Mae pool number assigned to the loan.

2.

Subservicer Loan Number - enter the loan number of mortgage assigned by subservicer and related Ginnie Mae pool number.

3. Number of Loans - number of properties purchased. This should agree with the MHAP-2, line 2, column 1a.

4. Payments to Security Holders - enter the amount of principal and interest passed through to security holders to purchase manufactured housing acquired properties out of the MBS pools.

Column 4a plus 4b should match the MHPR-1 or 2, line 8.

4a.

Principal - enter the principal portion of pass-through payment to security holders to purchase the property.

4b.

Interest - enter the interest portion of pass-through payment to security holders to purchase the property.

5.

Prior Advance Payments by Ginnie Mae - enter the amount of principal and interest payments to security holders made by Ginnie Mae on the delinquent loan prior to the purchase of the property by Ginnie Mae from the security holder pool.

5a.

Prior Advance Payments by Ginnie Mae - Principal - enter the principal portion of payments to security holders made by Ginnie Mae on the delinquent loan prior to the purchase of the property by Ginnie Mae from the security holder pool.

5b.

Prior Advance Payments by Ginnie Mae - Interest - enter the interest portion of payments to security holders made by Ginnie Mae on the delinquent loan prior to the purchase of the property by Ginnie Mae from the security holder pool.

6.

Total Purchase Price - enter the calculated amount by summing the above items (4a +4b+5a+5b). The total purchase price amount should match the MHAP-2, line 2, column 1b.

Purpose of the MHAP-4 Report: This report is used to collect detailed sales information, by defaulted issuer, on the sales of Ginnie Mae acquired properties (real estate owned) being managed by the subservicer.

Preparation Instructions:

1.

Ginnie Mae Pool Number - enter the Ginnie Mae pool number assigned to the loan.

2.

Subservicer Loan Number - enter the loan number assigned by subservicer.

3.

Purchase Price - enter the amount of principal and interest paid by Ginnie Mae to the security holders to purchase the acquired property out of the Ginnie Mae MBS pool. The amount should also include all unreimbursed principal and interest payments made by Ginnie Mae to the security holders when the loan was in delinquency status. The purchase price should not include service fees.

4. Expenses Paid By Ginnie Mae - enter the dollar amount of expenses paid by Ginnie Mae, taxes and insurance from the Escrow Shortfalls Report, MHAP-7 and the MHPR-6 billing for the Extraordinary Expenses.

5. Gross Sales Proceeds - enter the gross sales proceeds received on the sale of the manufactured homes REO. This amount should agree with MHAP-2, line 4.

6. Write-offs/Net Gain/(Loss) - Columns (3 – 5 = 6). The total of this column should equal MHAP-2, line 7.

Purpose of the MHAP-5 Report: This report is to provide summary information by defaulted issuer to Ginnie Mae on the activities related to the collection of escrow funds and the disbursement of those funds for the payment of taxes and insurance on Ginnie Mae Real Estate Owned Properties loans. The report will also reflect any reimbursement requests by the subservicer for escrow (number 4 below) or the repayment of escrow monies to Ginnie Mae (number 6 below) during the reporting month.

Preparation Instructions:

1. Escrow Beginning Balance - enter the amount of monies on deposit at the beginning of the reporting period to pay taxes and insurance due on Ginnie Mae REO loans. The beginning balance should agree to the prior month’s ending balance. Update the fiscal year to date and cumulative columns.

2. Transfer-In – enter the amount of any escrow balance from the mortgagee’s loan history report. The mortgagee has abandoned the property and the loan has been purchased out of the pool.

3. Transfer-In - enter the escrow balance transferred in from the MHHR-5, Holding Report and MHWL-5, Whole Loan report. Update the fiscal year to date and cumulative columns to reflect the total of escrow amount.

4. Funding By Ginnie Mae - enter the funds provided by Ginnie Mae to make up shortfall in the escrow accounts needed to pay taxes and insurance on Ginnie Mae REO’s. Update the fiscal year to date and cumulative columns.

5. Disbursements - enter the amount of escrow monies paid out during the reporting month for the payment of taxes and insurance. Update the fiscal year to date and cumulative columns.

6. Write-offs - enter the escrow balance amount needed to zero out the account balance. Once a loan is sold the remaining escrow balance is removed from the T&I account. Update the fiscal year to date and cumulative columns to reflect the total of T&I funds removed.

7. Escrow Ending Balance - enter the amount of monies on deposit at the end of the reporting period for taxes and insurance due on Ginnie Mae REO loans. Update the fiscal year to date and cumulative columns.

Purpose of the MHAP-6 Report: This report is to request information on outstanding FHA, VA and RHS claims receivable due Ginnie Mae on a loan level detail. As a general rule, this report will reflect only the principal, interest, taxes and insurance portion of FHA/VA/RHS claims receivable outstanding on acquired properties (real estate owned) due to Ginnie Mae.

Preparation Instructions:

1.

Ginnie Mae Pool Number - enter the Ginnie Mae pool number assigned to the loan.

2.

Subservicer Loan Number - enter the loan number assigned by subservicer.

3. Claim Type - enter the claims field with either the Federal Housing Administration (FHA), the Veterans Administration (VA), or the Rural Housing Service (RHS) by type.

4.

Date Filed - enter the date the claim was filed.

5. Total Debt - enter the dollar amount of claims filed to FHA, VA and RHS during the current month. This column must be filled in if there are any collections.

6. Claims Collected - enter the dollar amount of claims received during the reporting month.

6a. Claims Collections - enter the amount of claims collected for the month.

6b. Date Funds Received - enter the date claims funds were received.

7.

Claim Write-offs and Adjustments - enter the write-offs and adjustments on Ginnie Mae, FHA, VA and RHS claims receivable during the reporting month. After all claims proceeds have been received for a given loan, the remaining receivable should be written off.

8.

Ending Claims Receivable Balance - enter the outstanding claims receivable balance due to Ginnie Mae at the end of the reporting month. The ending balance should reflect claims filed, claim receipts and write-offs during the reporting period.

Aging of Outstanding Claims

Complete the aging schedule of claims by recording the number and dollar amount of FHA, VA, and claims outstanding, by the appropriate days outstanding category.

Purpose of the MHAP-7 Report: This report is to request cumulative information at a summary level from the MHAP-6 report on outstanding FHA and VA claims receivable due to Ginnie Mae.

Preparation Instructions:

Line 1 - Beginning Balance - record the beginning claims receivable balance. This amount should be the prior month’s ending receivable balance. Note: The government’s fiscal year end is September 30th and the beginning fiscal inventory balance should be as of October 1st.

This should equal the MHAP-6, column 4.

Line 2 - Claims Filed - enter the total claims filed during the reporting period. This amount should agree with MHAP-6, column 5. Update the fiscal year to date and cumulative amount columns for current month activity.

Line 3 - Claims Collected - enter the dollar amount of claim receipts during the reporting month. This amount should equal claim receipts reported on MHAP-2, line 5 and the MHAP 6, column 6. Update the fiscal year to date and cumulative amount columns for current month activity.

Line 4 - Claims Written Off - enter the dollar amount of claim write-offs during the reporting month. This amount should equal claim write-offs reported on MHAP 6, column 7. Update the fiscal year to date and cumulative amount columns for current month activity.

Line 5 - Ending Balance - enter the dollar amount of claims due Ginnie Mae outstanding at the end of the reporting period. This amount should agree with the MHAP-6, column 8.

Purpose of the MHWL-1 Report: This report is to identify all Ginnie Mae manufactured housings whole loans presently being serviced by the subservicers. A loan is a whole loan when (1) the loan is not insured by FHA, VA and/or RHS and then must be purchased out of the MBS pools on the MHPR-1, line 7 or (2) a loan was on the MHHR-2 report and the mortgagee started to make payments again after the security holder was paid in full. The loan would be transferred to MHWL. Any collections received during the reporting month should be wired to Ginnie Mae on the third business day of the month following receipt.

Preparation Instructions 1.

Ginnie Mae Pool Number - enter the Ginnie Mae pool number assigned to the loan.

2. Subservicer Loan Number - enter the loan number assigned by subservicer.

3. Date Acquired - enter the date the loan was transferred to whole loans or purchased out of the MBS pool.

4a.

Ginnie Mae I or II - enter the loan portfolio type.

4b. Mancode – subservicer code for bankruptcy or work-out.

5.

Loan Type - enter FHA or VA.

6.

State Location of Property - state in which property is located. Use the letter state abbreviation, e.g. OK = Oklahoma, TX = Texas, etc.

7. Interest Rate - enter the rate of interest charged borrower on the outstanding loan amount.

8a. Remaining Term - enter the number of months remaining on loan term.

8b. Last Payment Date – enter the last payment date (month/year) made by the mortgagee.

10. Unpaid Principal Balance - enter the amount of principal balance remaining on the loan. This amount should agree with MHWL-2, Section I, line 9 columns 1b, 2b, and 3b. Also, total number of loans should agree with line 9 columns 1a, 2a, and 3a of MHWL-2 report.

11. Current Accrued Interest - calculate 30 days of accrued interest on loans that are current or less than one month delinquent in this column. This amount should agree with Section II on the MHWL-2 item 9.

11. Delinquent Accrued Interest - enter the accrued interest on loans that are more than 60 days delinquent (two or more payments delinquent) in this column.

Purpose of the MHWL-2 Report: This report is to identify all Ginnie Mae manufactured housings whole loans by defaulted issuer. A loan is a whole loan when (1) the loan is not insured by FHA, VA and/or RHS and must be purchased out of the MBS pools on the MHPR-1, line 7 or (2) a loan was on the MHHR-2 report and the mortgagee started to make payments again, after the security holder was paid in full. The loan would be transferred to MHWL-2. Any collections received during the month should be wired to Ginnie Mae on the third business day of the month following receipt.

Preparation Instructions:

SECTION I -

Line 1 - Beginning Inventory - enter the number and dollar amount of manufactured housings whole loans held by Ginnie Mae at the beginning of the reporting period. The number and dollar amount should agree with the prior month’s ending balance. Note: The government’s fiscal year end is September 30 and the beginning fiscal year to date inventory balance should be as of October 1st. The cumulative to date column is the beginning balance at the time of the portfolio’s transfer to the subservicer.

Line 2 - Purchases (+) - enter the number and dollar amount of manufactured housings whole loans purchased from Ginnie Mae MBS pools because these loans are not insured by FHA, VA and/or RHS. This should agree with the MHWL-3, columns 5a + 6a. Update the fiscal year to date and cumulative columns to reflect monthly transfers from the MHHR reports.

Line 3 - Transfer In/Out - enter the number and dollar amount of whole loans being transferred into the MHWL-2 from the MHHR-2 where the loan was on the MHHR-2 and the mortgagee started making payments again after the security holder was paid in full by Ginnie Mae. A whole loan is a transfer out when a FHA, VA and/or RHS mortgagee defaults on the loan, and Ginnie Mae acquires title and possession of the property. Then the loan can be transferred out of whole loans (MHWL-2) to real estate owned acquired properties (REO’s) (MHAP-2). Update the fiscal year to date and cumulative columns to reflect monthly transfers from the MHHR reports. If the subservicer discovers that a mortgagee has filed for bankruptcy, the loan should be moved back to the MHHR-2 report.

Line 4 - Sales (Gross Proceeds) (-) - enter the number and dollar amount of manufactured housings whole loan sales by Ginnie Mae during the reporting month. This amount will equal the MHWL-4, column 5. Update the fiscal year to date and cumulative columns to reflect any proceeds received.

Line 5 - Principal Repayments (-) enter the number and dollar amount of manufactured housings whole loans principal repayments during the reporting month. The mortgagee payment will lower the unpaid principal balance on the MHWL-1, column 9. These collections should be wire transferred to Ginnie Mae on the third business day of the month following receipt. Update the fiscal year to date and cumulative columns to reflect any principal repayments received.

Line 6 - Paid in Full (-) - enter the dollar amount of principal repayments collected on manufactured housings whole loans paid in full during the reporting month. The mortgagee due to paying off the loan balance pays these loans in full. These collections should be wire transferred to Ginnie Mae by the third business day of the month following receipt. Update the fiscal year to date and cumulative columns to reflect any changes.

Lines 7 - Write-offs (-) enter the number and dollar amount of manufactured housings whole loan write-offs from Ginnie Mae’s sale of the loans and/or servicing rights during the reporting month. This should agree with the MHWL-4, column 6. Update the fiscal year to date and cumulative columns to reflect any changes.

Line 8 – Charge-Offs – enter the number and dollar amount of manufactured housings whole loan charge-offs during the reporting month. Some reasons for charge offs are: a loan was incorrectly amortized, a judge may forgive part of a note, or the manufactured home may have been abandoned. Update the fiscal year to date and cumulative columns to reflect any changes.

Line 9 - Ending Inventory - enter the number and dollar amount of manufactured housings whole loans at the end of the month. This amount should agree with the MHWL-1, column 9. Update the fiscal year to date and cumulative columns to reflect any changes.

SECTION II – BREAKOUT OF COLLECTIONS RECEIVED

1. Principal Payments – enter the total payments applied to reduce the unpaid principal balance of the loan (Principal Repayments and Paid-in-Full).

2. Interest Payments – enter the interest collected on Ginnie Mae whole loans.

3. Escrow Payments – enter the monies collected and held on deposit to pay taxes, insurance, etc. This amount should agree with the MHWL-5, line 2.

4. Delinquent Interest – enter the collection of interest on delinquent loans.

5. Late Fee Payments – enter the collection of late fees charged on the delinquent loans.

6. Total Collections – enter the total collections on whole loans during the reporting month.

Purpose of the MHWL-3 Report: This report is used to collect detailed information, by defaulted issuer, on loans purchased by Ginnie Mae on the MHPR-1 or 2, line 7, out of the MBS pools due to whole loans which are not insured by FHA or VA.

Preparation Instructions:

1.

Ginnie Mae Pool Number - enter the Ginnie Mae pool number assigned to the loan.

2.

Subservicer Loan Number - enter the loan number assigned by subservicer.

3.

GNMA I or II - enter the loan’s portfolio type, GNMA I or GNMA II.

4.

Loan Type - enter the loan’s type, FHA or VA.

5. Payments to Security Holders - enter the amount of principal and interest passed through to the security holder to purchase manufactured home whole loans out of Ginnie Mae’s defaulted issuer portfolio. Lines 5a + 5b should agree with the MHPR-1 or 2, line 7.

5a.

Principal - enter the principal portion of pass-through payment to security holders to purchase the whole loan out of the pool.

5b.

Interest - enter the interest portion of pass-through payment to security holders to purchase the whole loan out of the pool.

6.

Prior Advance Payments by Ginnie Mae - enter the amount of principal and interest payments to security holders made by Ginnie Mae on the delinquent loan prior to the purchase of the whole loan by Ginnie Mae from the security holder pool.

6a.

Prior Advance Payments by Ginnie Mae - Principal - enter the principal portion of payments to security holders made by Ginnie Mae on the delinquent loan prior to the purchase of the whole loan by Ginnie Mae from the security holder pool.

6b.

Prior Advance Payments by Ginnie Mae - Interest - enter the interest portion of payments to security holders made by Ginnie Mae on the delinquent loan prior to the purchase of the whole loan by Ginnie Mae from the security holder pool.

7.

Total Purchase Price - enter the calculated amount by summing the above items (5a+5b+6a+6b).

NOT APPLICABLE AT THIS TIME

Purpose of the MHWL-4 Report: This report is used to collect detailed information, by defaulted issuer, on the sales of Ginnie Mae whole loans being managed by the subservicer. Note: This report should only include sales of loans, not real estate owned acquired properties (REO's). Sales of REO properties should be reported on the Manufactured housings Acquired Properties Detailed Sales Report, MHAP 4.

Preparation Instructions:

1.

Ginnie Mae Pool Number - enter the Ginnie Mae pool number assigned to the loan.

2.

Subservicer Loan Number - enter the loan number assigned by subservicer.

3.

Purchase Price - enter the amount of principal and interest paid by Ginnie Mae to the security holders to purchase the whole loan out of the Ginnie Mae MBS servicing pool. The amount should also include all unreimbursed principal and interest payments made by Ginnie Mae to the security holders when the loan was in delinquency status. The purchase price should not include service fees.

4. Expenses Paid By Ginnie Mae - enter the dollar amount of expenses paid by Ginnie Mae for taxes and insurance from the Detailed Report of Escrow Shortfalls on GNMA Whole Loans Report, MHWL-7 and the Billing for Reimbursement of Extraordinary Expenses by Subservicer, MHPR-6.

5. Gross Sales Proceeds - enter the gross amount of monies received by Ginnie Mae on the sale of the loans. This amount should agree with the MHWL-2, line 4, Section I.

6. Broker Purchase Opinion - enter the BPO value of the loan at the time of the sale.

7. Net Gain/(Loss) - subtract the sales proceeds from the purchase price and calculate Ginnie Mae’s gain or loss. This amount should agree with the MHWL-2, line 7, Write-Offs.

Purpose of the MHWL-5 Report: This report is to provide summary information to Ginnie Mae on the activities related to the collection of escrow funds and the disbursement of those funds for the payment of taxes and insurance (T&I) on Ginnie Mae manufactured housing whole loans during the reporting month.

Preparation Instructions:

1. Escrow Beginning Balance - enter the amount of monies on deposit at the beginning of the reporting period to pay taxes and insurance due on Ginnie Mae whole loans. The beginning balance should agree with the prior month’s ending balance.

2. Collections - enter the amount of escrow monies collected during the reporting month for the payment of taxes and insurance. The amount reported as collected should not be netted against repayments of Ginnie Mae escrow advances or netted against current month disbursements. Collections reported on the MHWL-5 should agree with escrow collections reported on the MHWL-2, Section II, line 3.

3. Transfer-In - enter the escrow balance transferred in from the MHHR loan account. Update the fiscal year to date and cumulative columns to reflect the total escrow amount.

4. Funding By Ginnie Mae - enter the funds provided by Ginnie Mae to make up shortfalls in the escrow accounts needed to pay taxes and insurance on Ginnie Mae whole loans.

5. Disbursements - enter the amount of escrow monies paid out during the reporting month for the payment of taxes and insurance.

6. Transfer-Out - enter the escrow balance for loans being transferred to MHAP/MHHR accounts. Update the fiscal year to date and cumulative columns to reflect the total of T&I funds removed.

7. Repayments to Ginnie Mae - enter the repayment of funds to Ginnie Mae for prior funding of shortfalls in escrow accounts needed to pay taxes and insurance on Ginnie Mae whole loans.

8. Escrow Ending Balance - enter the amount of monies on deposit at the end of the reporting period for taxes and insurance due on Ginnie Mae whole loans.

Purpose of the MHWL-6 Report: This report is used to collect delinquency information on Ginnie Mae’s whole loans serviced by the subservicer. Ginnie Mae uses this report to calculate a loss reserve for financial statement purposes. For loans over 180 days delinquent, the subservicer should note the circumstances in a footnote.

Preparation Instructions:

1.

All Loans - applicable to all Ginnie Mae manufactured housings whole loans serviced by the subservicer.

1a.

Number of Loans - enter the total number of manufactured home whole loans serviced by the subservicer.

1b.

UPB - enter the total unpaid principal balance of all manufactured home whole loans serviced by the subservicer.

2.

Days/Years Delinquent - enter the number of days/years loans(s) is/are delinquent.

3.

Delinquent Loans - enter all whole loans delinquent per terms of the loan contract.

3a.

Number of Loans Delinquent - enter the number of manufactured home whole loans delinquent.

3b.

Unpaid Interest - enter the cumulative amount of interest that is delinquent.

3c.

Unpaid Principal - enter the cumulative amount of principal that is delinquent.

3d.

Delinquent Installments - enter the cumulative amount of delinquent unpaid interest and principal.

3e.

Delinquent UPB - enter the total unpaid principal balance of manufactured home whole loans delinquent.

Purpose of MHWL-7 Report: This report will be used to support any reimbursement requests by the subservicer for escrow advances and to provide loan level accounting for

Ginnie Mae’s advance receivable.

Due to the potentially large volume of advances and repayments occurring in a given month for a particular issuer, Ginnie Mae strongly suggests that the subservicer automate this report. One subservicer prepared this report utilizing the following process:

1. At month end, the subservicer loan servicing system generated a report listing corporate advances by issuer at the loan level. The report, in ASCII format, was converted into a dBASE file.

2. At month end, the subservicer’s loan system generated a report of repayments at the loan level by issuer. This report, in ASCII format, was converted into a dBASE file.

3. Both dBASE files were merged into a larger common file, listing advances and repays. The file was sorted first by loan number and second by the net amount owed to Ginnie Mae. Thus, the sorted file matched prior month advances with current month repays.

4. At a loan level, when the net of advances and repays equaled zero, the loan number (i.e., record) was removed from the common dBASE file. This file was then printed and submitted to Ginnie Mae for payment if the advances exceeded repayments.

Any system generated report must provide loan level detail indicating the issuer number, loan number, nature of the advance, the invoice amount, escrow balance at time of disbursement, the amount advanced and the net needed from Ginnie Mae. Since Ginnie Mae does not require the subservicer to submit copies of all invoices paid during the reporting month, the subservicer must maintain an audit trail for review by Ginnie Mae’s auditors. Whether the subservicer utilizes an automated or manual report, it is imperative that the subservicer maintain the invoice supporting the required advance.

Preparation Instructions:

1. Loan Number – enter the loan number the subservicer has assigned to the mortgage.

2. Borrower Name – enter the name of the mortgagee.

3. Escrow Type – enter “Taxes,” “Insurance,” or “Penalty.” If a request for a penalty such as late tax payment is submitted, maintain evidence in addition to the invoice if due to prior subservicer error. If the mortgagee repays an advance, report escrow type as “Repayment.”

4. Vendor – enter the name of the vendor performing the service.

5. Date Incurred – record the date the expense was incurred or the period of time the service was provided.

6. Invoice Amount – enter the amount the vendor is charging for services provided (invoice amount, not estimated amount). It is Ginnie Mae’s policy not to prepay for any services, except when it is the industry practice (such as hazard insurance) to do so. Note: An invoice amount remains on the MHWL-7 report until it is repaid. If the mortgagee repays a prior advance, show the recovery as a negative invoice. On the following month, remove the loan from the schedule of Ginnie Mae advances.

7. Escrow Balance – enter the amount available in the escrow account of the borrower for this expense.

8. Advance Request/Refund – calculate the difference between invoice amount and the escrow balance (Column 6 minus Column 7). Any repayments should be recorded as a negative amount in Column 7. Compare the month end totals of Column 8 with the prior month. If the advance balance increased over the prior month, bill Ginnie Mae for the difference. If the balance fell over the prior month, return this difference to Ginnie Mae. If the subservicer utilizes an automated database, the total advance balance reported on MHWL-7 must agree to the advance balance reported on the Month End Trial Balance.

Purpose of the MHHR-1 Report: This report is to identify all Ginnie Mae manufactured housing loans presently being serviced by the subservicer. Holding loans are purchased out of the MBS pools on the MHPR-1 or 2, line 6. A loan is bought out of the pool when (1) mortgagee is delinquent on his payment and his interest rate is very high (cost savings to Ginnie Mae). When the mortgagee starts to make mortgage payments again, the loan should be transferred out of the MHHR to MHWL-2, line 3, or (2) a loan is in bankruptcy (will stay on the MHHR until the court issues are resolved or the mortgagee starts making payments again, and then the loan will move to MHWL-2, line 3 or the MHAP-2, line 3).

Preparation Instructions:

1.

Ginnie Mae Pool Number - enter the Ginnie Mae pool number assigned to the loan.

2.

Subservicer Loan Number - enter the loan number assigned by the subservicer.

3. Mancode – subservicer code, indicates whether FHA or VA loan and bankruptcy status.

4. Date Acquired - enter the date the property was purchased out of the MBS pool.

5.

State Location of Property - enter the state in which the property is located. Use the two letter state abbreviation, e.g. OK = Oklahoma, TX = Texas, etc.

6.

Interest Rate - enter the rate of interest charged to the borrower on the outstanding loan amount.

7a. Remaining Term - enter the number of months remaining on the loan term.

7b. Last Payment Date – enter the last payment date (month/year) made by the mortgagee.

8. Purchase Price - enter the amount of principal and interest paid by Ginnie Mae to security holders to purchase the loan out of the Ginnie Mae MBS pool. The purchase price should include all unreimbursed principal and interest payments made by Ginnie Mae to the security holders while the loan was delinquent. Must equal the MHHR-3, column 7.

9. Charge-Offs - enter the dollar amount of principal and interest charge-off for manufactured housing loan. Some reasons for charge-offs are (1) a loan incorrectly amortized, (2) a judge may forgive part of the note, (3) home may have been abandoned. (Should match Report #9.)

10. Loan Balance - This is the total of column 8 (purchase price) minus column 9 (charge-offs)

This should match MHHR-2, line 5, ending inventory.

Purpose of the MHHR-2 Report: This report summarizes all activity on Ginnie Mae’s manufactured housing holding report loans by defaulted issuer. This report should be updated for all purchases and transfers of manufactured housing holding report loans during the reporting month.

Preparation Instructions:

Line 1 - Beginning Inventory - enter the number and dollar amount of manufactured housing holding report loans at the beginning of the reporting period. The number and dollar amount should agree with the prior month’s ending balance. Note: The government’s fiscal year end is September 30 and the beginning fiscal inventory balance should be as of October 1st. The cumulative to date column is the beginning balance at the time of the portfolio’s transfer to the subservicer.

Line 2 - Purchases (+) - enter the number and dollar amount of manufactured housing holding report loans purchased during the reporting month. This amount should agree with the MHHR-3, column 7. Update the fiscal year to date and cumulative to date columns to reflect monthly purchases.

Line 3 - Transfers (to Acquired Properties or Whole Loans) (-) enter the number and dollar amount of manufactured housing holding report loans transferred to the Manufactured Housing Acquired Properties (MHAP-2, line 3, transfers) reports or the Manufactured Housing Whole Loan (MHWL-2, line 3, transfers) reports. If a mortgagee starts making payments after Ginnie Mae has paid the security holder in full, the loan is then transferred-in to whole loans on MHWL-2, line 3, column 1b. Once the Master Subservicer has all its paperwork in order to repossess the property, then the loan is transferred to the MHAP-2, line 3, REO’s. Update the fiscal year to date and cumulative to date columns to reflect monthly transfers.

Line 4 – Charge-Offs - enter the dollar amount of principal charge-off for manufactured housing loan. Some of the reasons for charge-offs are (1) a loan incorrectly amortized, (2) a judge may forgive part of the note, or (3) manufactured home may have been abandoned.

Line 5 - Ending Inventory - enter the number and dollar amount of manufactured housing holding report loans held at the end of the month. Update the fiscal year to date and cumulative to date columns to reflect any changes. Note: The Ending Inventory should agree to the MHHR-1, column 10.

Purpose of the MHHR-3 Report: This report is used to collect detailed information, by defaulted issuer, on loans purchased from Ginnie Mae’s MBS servicing portfolio. Ginnie Mae utilizes this report as supporting documentation for the Manufactured Housing Pool Reporting (MHPR) request for holding loans. A loan is bought out of the pool when (1) mortgagee is delinquent on his payment and his interest rate is very high (cost savings to GNMA). When the mortgagee starts to make mortgage payments again the loan should be transferred out of the MHHR to MHWL-2, line 3., or (2) a loan is in bankruptcy (will stay on the MHHR until the court issues are resolved or the mortgagee starts making payments again and then the loan will move to MHWL-2, line 3 or the MHAP-2, line 3).

Preparation Instructions:

1.

Ginnie Mae Pool Number - enter the Ginnie Mae pool number assigned to the loan.

2.

Subservicer Loan Number - enter the loan number assigned by subservicer.

3.

GNMA I or II - enter the loan’s portfolio type, GNMA I or GNMA II.

4.

Mancode – subservicer code, indicates whether FHA or VA loan and bankruptcy status.

5.

Payment to Security Holders - enter the amount of principal and interest passed through to security holders to purchase manufactured housing holding loans out of the pool. Column 5a & 5b should equal the MHPR-1, line 6 or MHPR-2, line 6.

5a.

Principal - enter the principal portion of pass-through payment to security holders to purchase the manufactured housing holding loans.

5b.

Interest - enter the interest portion of pass-through payment to security holders to purchase the manufactured housing holding loans.

6.

Prior Advance Payments by Ginnie Mae - enter the amount of principal and interest payments to security holders made by Ginnie Mae on the delinquent loan prior to the purchase of the property by Ginnie Mae from the security holder pool.

6a.

Prior Advance Payments by Ginnie Mae - Principal - enter the principal portion of payments to security holders made by Ginnie Mae on the delinquent loan prior to the purchase of the property by Ginnie Mae from the security holder pool.

6b.

Prior Advance Payments by Ginnie Mae - Interest - enter the interest portion of payments to security holders made by Ginnie Mae on the delinquent loan prior to the purchase of the property by Ginnie Mae from the security holder pool.

7.

Total Purchase Price - enter the calculated amount by summing the above items (5a+5b+6a+6b). The total purchase price amount should equal Purchases, on the MHHR-2, line 2, column 1b.

NOT Applicable At This Time

Purpose of the MHHR-4 Report: This report is to collect the detailed sales information, by defaulted issuer, on sales of Ginnie Mae loans.

Preparation Instructions:

Purpose of the MHHR-5 Report: This report is to provide summary information by defaulted issuer to Ginnie Mae on the activities related to the collection of escrow funds and the disbursement of those funds for the payment of taxes and insurance on Ginnie Mae Holding Loans.

Preparation Instructions:

1. Escrow Beginning Balance - enter the amount of monies on deposit at the beginning of the reporting period to pay taxes and insurance due on Ginnie Mae holding loans. The beginning balance should agree to the prior month’s ending balance.

2. Transfer-In - enter the escrow balance transferred in to the holding loan account. Update the fiscal year to date and cumulative columns to reflect the total escrow amount.

3. Funding By Ginnie Mae - enter the funds provided by Ginnie Mae to make up shortfalls in the escrow accounts needed to pay taxes and insurance on Ginnie Mae holding loans.

4. Disbursements - enter the amount of escrow monies paid out during the reporting month for the payment of taxes and insurance.

5. Transfer-Out - enter the escrow balance amount transferred out to the Whole Loan/REO account. When a loan is transferred, the T&I account balance should be transfer to the MHWL-5 or MHAP-5. Update the fiscal year to date and cumulative columns to reflect the total of T&I funds transfer.

6. Repayment to Ginnie Mae - enter the repayment of funds to Ginnie Mae for prior funding of shortfalls in escrow accounts needed to pay taxes and insurance on Ginnie Mae holding loans.

7. Escrow Ending Balance - enter the amount of monies on deposit at the end of the reporting period for taxes and insurance due on Ginnie Mae holding loans.

NOT APPLICABLE AT THIS TIME

Purpose of the MHHR-6 Report: This report is to collect delinquency information on Ginnie Mae’s outstanding receivables. Ginnie Mae uses this report to calculate a loss reserve for financial statements purpose. For loans over 180 days delinquent, the subservicers must note the circumstances preventing repossession of the manufactured home.

Preparation Instructions:

Purpose of the MHPR-1 Report: This report is used to request monies from Ginnie Mae to cover anticipated shortfalls in monthly principal and interest payments due to security holders of Ginnie Mae I MBS portfolios. The MHPR-1 is a required form. Even if there is no need for Ginnie Mae to advance funds, the MHPR-1 still provides Ginnie Mae monthly accounting data. The original report must be in Ginnie Mae’s possession no later than the 10th day of the reporting month.

Definition of Terms:

1.

Amount of Principal and Interest on Deposit at the End of the Reporting Month - Enter the balance of principal and interest on deposit at the end of the reporting month in the defaulted issuer’s P&I custodial bank account.

2. Total Amount Collected Between the 1st and the 9th day of the Current Month - enter the total amount of principal and interest payments collected by the subservicer on Ginnie Mae MBS servicing portfolio from the 1st day of the month to the afternoon of the 9th day of the month, minus out the gross service fees wired to Ginnie Mae on the 3rd business day of the current month.

3.

Estimated Collections of the 10th Day through the 15th Day of the Current Month - enter the estimated principal and interest payments to be collected by the subservicer on Ginnie Mae’s MBS servicing portfolio between the 10th and 15th day of the reporting month. Ginnie Mae suggests that the subservicer use the following estimation methodology:

1.

Prepare a worksheet outlining daily collections for the period 10th to 15th for the past six months.

2.

Calculate average daily collections by totaling collections for a five-day period over the past six months and dividing by the number of days. Note: The divisor, the number of days over the past six months, will change each reporting period as weekends and holidays often fall between the 10th and 15th of each month.

3.

Multiply the number of day’s collections will be deposited to issuer’s P&I account times the average daily collection.

4.

From the amount calculated in step 3, subtract $10,000 and record the difference as the estimated collections for the period 10th to the 15th.

The subservicer is encouraged to use the above estimation process; however, the subservicer may deviate if its estimation process is more precise. For example, some subservicer’s loan servicing system provides information on deposits in transit as of the 10th day of the reporting period, thus reducing the period of days necessary to estimate collections.

4. Self explanatory

5. Self explanatory

6. Purchase of Manufactured Housing Holding Loans from MBS Servicing Pools - enter the (outstanding principal due the security holder plus one month interest) needed to pass-through to the security holders on the 15th day of the current month for Ginnie Mae’s purchase of manufactured housing holding loans. (Delinquent and bankruptcy loans will transfer to another category at a later date.)

7.

Purchase of Manufactured Housing Whole Loans from MBS Servicing Pools - enter the (outstanding principal due the security holder plus one month interest) needed to pass-through to the security holders on the 15th day of the current month for Ginnie Mae’s purchase of manufactured housing whole loans.

8.

Purchase of Manufactured Housing Acquired Properties from MBS Servicing Pools - enter the (outstanding principal due the security holder plus one month interest) needed to pass-through to the security holders on the 15th day of the current month for Ginnie Mae’s purchase of manufactured housing real estate owned (REO) loans.

9. Amount to Buydown VA Loans - enter the total amount of principal due security holders during the reporting month on VA loans going into foreclosure that are in Ginnie Mae I MBS servicing pools to avoid the VA no bid policy.

10. Soldiers and Sailors Civil Relief Act (SSCRA)- enter the interest shortfall amount needed to make the SSCRA loans whole. The SSCRA permits a maximum interest rate of six percent on the mortgage debt incurred before entry into military service. The issuer must lower the interest rate to six percent during the borrower’s active duty. Ginnie Mae will reimburse the interest shortfall payment for defaulted portfolios.

11. Amount Due Investors on the 15th of the Month - enter the total amount of principal and interest due security holders during the current month (add lines 5 through 10).

12. Self explanatory

13. Self explanatory

14. Service Fee Collected - enter the gross servicing fee spread between the interest rate on the mortgages and interest rate on the securities. Wire the gross amount of service fees collected along with claim proceeds, sales proceeds and Ginnie Mae whole loan collections to Ginnie Mae on the third business day of the month following receipt in one wire. Be sure to fax the MHPR-7, Detailed Wire Support Form to Ginnie Mae.

Purpose of the MHPR-2 Report: This report is used to request monies from Ginnie Mae to cover anticipated shortfalls in monthly principal and interest payments due to security holders of Ginnie Mae II MBS portfolios. The MHPR-2 is a required form. Even if there is no need for Ginnie Mae to advance funds, the MHPR-2 still provides Ginnie Mae monthly accounting data. The original report must be in Ginnie Mae’s possession no later than the 10th day of the reporting month.

Definition of Terms:

1.

Amount of Principal and Interest on Deposit at the End of the Reporting Month - Enter the balance of principal and interest on deposit at the end of the reporting month in the defaulted issuer’s custodial P&I custodial bank account for Ginnie Mae II securities.

2.

Total amount collected between the 1st and the 9th day of the current month - enter the total amount of principal and interest payments collected by the subservicer on Ginnie Mae MBS servicing portfolio from the 1st day of the month to the afternoon of the 9th day of the month, minus out the gross service fees wired to Ginnie Mae on the 3rd business day of the current month.

3.

Estimated Collections of the 10th Day through the 15th Day of the Current Month - enter the estimated principal and interest payments to be collected by the subservicer on Ginnie Mae’s MBS servicing portfolio between the 10th and 15th day of the reporting month. Ginnie Mae suggests that the subservicer use the following estimation methodology:

1.

Prepare a worksheet outlining daily collections for the period 10th to 15th for the past six months.

2.

Calculate average daily collections by totaling collections for a five-day period over the past six months and dividing by the number of days. Note: The divisor, the number of days over the past six months, will change each reporting period as weekends and holidays often fall between the 10th and 15th of each month.

3.

Multiply the number of day’s collections will be deposited to issuer’s P&I account times the average daily collection.

4.

From the amount calculated in step 3, subtract $10,000 and record the difference as the estimated collections for the period 10th to the 15th.

The subservicer is encouraged to use the above estimation process; however, the subservicer may deviate if its estimation process is more precise. For example, some subservicers’ loan servicing system provides information on deposits in transit as of the 10th day of the reporting period, thus reducing the period of days necessary to estimate collections.

4. Self explanatory

5. Self explanatory

6. Purchase of Manufactured Housing Holding Loans from MBS Servicing Pools - enter the (outstanding principal due the security holder plus one month interest) needed to pass-through to the security holders on the 15th day of the current month for Ginnie Mae’s purchase of manufactured housing holding loans. (Delinquent and bankruptcy loans will transfer to another category at a later date).

7. Purchase of Manufactured Housing Whole Loans from MBS Servicing Pools - enter the (outstanding principal due the security holder plus one month interest) needed to pass-through to the security holders on the 15th day of the current month for Ginnie Mae’s purchase of manufactured housing whole loans.

8. Purchase of Manufactured Housing Acquired Properties from MBS Servicing Pools - enter the (outstanding principal due the security holder plus one month interest) needed to pass-through to the security holders on the 15th day of the current month for Ginnie Mae’s purchase of manufactured housing real estate owned (REO) loans.

9. Amount to Buydown VA Loans – enter the total amount of principal due security holders during the reporting month on VA loans going into foreclosure that are in Ginnie Mae II MBS servicing pools to avoid the VA no bid policy.

10. Soldiers and Sailors Civil Relief Act (SSCRA) - enter the interest shortfall amount needed to make the SSCRA loans whole. The SSCRA permits a maximum interest rate of six percent on the mortgage debt incurred before entry into military service.