Fillable Form Hud-11715 - Master Custodial Agreement printable pdf download

U.S. Department of Housing

Master Custodial Agreement

OMB Approval No. 2503-0017 (Exp. 9/30/2002)

and Urban Development

Government National Mortgage Association

Initial

Renewal

Public reporting burden for this collection of information is estimated to average 15 minutes per response, including the time for reviewing instructions, searching

existing data sources, gathering and maintaining the data needed, and completing and reviewing the collection of information. This agency may not conduct

or sponsor, and a person is not required to respond to, a collection information unless that collecton displays a valid OMB control number.

The information is required by Sec. 306(g) of the National Housing Act or by Ginnie Mae Handbook 5500.3.

The attached list of Pools and Loan Packages is covered by this Agreement

This Master Agreement dated this ______________________ day of ____________________________ , 20 _____ by and between

____________________________________________________ (Issuer), ________________________ (Issuer ID Number) and

____________________________________________________________(Custodian), __________________ (Custodian Number).

Whereas, the Issuer proposes to issue mortgage-backed securities

b. For Final Certification:

guaranteed by the Government National Mortgage Association

For SF, BD, AR, AQ, GP, GT, GA, GD, and SN pools:

(Ginnie Mae) pursuant to Section 306(g) of the National Housing

Section 13-4(B) of the Ginnie Mae MBS Guide.

Act; and

For MH pools: Sections 13-4(B) and 30-4(A)(2) of the

Whereas, these securities will be based on and backed by all pools

Ginnie Mae MBS Guide.

and/or loan packages of mortgages to be identified in the records of

Ginnie Mae by the Issuer's I. D. Number _____________________.

For PL, PN, LM, RX and LS pools: Sections 13-4(B) and

Whereas, the Custodian is a financial institution regulated by

31-10 of the Ginnie Mae MBS Guide. (Final Certification

____________________________________________________

only)

(must be regulated by the Federal Deposit Insurance Corporation

For CL and CS pools: Sections 13-4(B) and 32-8 of the

(FDIC), the Federal Reserve System (FRS), the Office of the

Ginnie Mae MBS Guide. (Final Certification only)

Comptroller of the Currency of the U. S. (OCC), the Office of

Thrift Supervision (OTS), the National Credit Union Adminis-

If documents with respect to any mortgage in the pools or loan

tration (NCUA), or a Federal Home Loan Bank (FHLB)).

packages are found to be defective, the Issuer shall replace the

defective documents or repurchase the mortgage at par, pur-

Whereas, the parties to this Agreement desire to set forth the

suant to applicable requirements of the Ginnie Mae Mort-

terms and conditions for the deposit and custodianship of the

gage-Backed Securities Guide.

documents evidencing and relating to mortgages to be pooled

under the Ginnie Mae Mortgage-Backed Securities Program.

For all mortgage documents deposited with the Custodian,

Therefore, in consideration of the mutual undertakings ex-

the Issuer shall submit to the Custodian a Schedule of Pooled

pressed in this Agreement, the parties agree as follows:

Mortgages using the HUD form prescribed by Ginnie Mae.

The Issuer shall originate or acquire mortgages that will

5. The Custodian shall review each mortgage file in accor-

provide the base and backing for the mortgage-backed

dance with instructions in the Ginnie Mae Mortgage-Backed

securities; all of these mortgages shall be insured or guaran-

Securities Guide, including the Document Custodian Manual

teed by the Federal Housing Administration (FHA), the

(Appendix V-1). The Custodian shall notify the Issuer imme-

Department of Veterans Affairs (VA), the Department of

diately of any missing, incomplete, or inconsistent docu-

Agriculture, Rural Housing Services Program (RHS) or by the

ments, and the Issuer shall deposit such missing documents or

Secretary of Housing and Urban Development.

complete or correct the documents.

For each eligible mortgage, the Issuer shall deposit with the

When documents described in paragraph 2a. above have been

Custodian the documents referenced by the following Sec-

received, the Custodian shall make its initial certification on

tions of the Ginnie Mae Mortgage-Backed Securities Guide:

the Schedule of Pooled Mortgages, shall forward that docu-

ment to Ginnie Mae or its agent either itself or through the

a. For Initial Certification:

Issuer, and shall sign a copy and deliver it to the Issuer. For

For SF, BD, AR, AQ, GP, GT, GA, GD, and SN pools:

multifamily pools, i.e., PL, PN, LM, RX, LS, CL, and CS, there

Section 13-4(A) of the Ginnie Mae MBS Guide.

is only one certification, which is the final certification. (It

is the Issuer's responsibility to provide the documents to the

For MH pools: Sections 13-4(A) and 30-4(A)(1) of the

custodian in a timely manner.)

Ginnie Mae MBS Guide.

form HUD-11715 (10/2000)

Page 1 of 2

Previous editions are obsolete; replaces HUD-11715-M

ref Ginnie Mae Handbook 5500.3

Form Hud-11715 - Master Custodial Agreement

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