Ginnie Mae to Release Updated Manual for Document Custodians

Ginnie Mae has updated the procedures manual used by the custodians of documents involved in mortgage-backed securities.

Custodians will be required to use Ginnie Mae's updated Document Custody Manual on Jan. 1. The updated manual includes new and clarified definitions for key terms, and updated requirements for how document copies must be used in the certification process.

Ginnie Mae said its update of the manual is part of its broader effort to update "program requirements and infrastructure relating to pool collateral."

"The number and complexity of servicing transfers, in particular, has grown substantially in recent years and the revised manual is a critical element in helping Ginnie Mae adapt to these changes," Michael Drayne, senior vice president of issuer and portfolio management, said in a news release.