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Ginnie Mae introduces liquidation‑event reporting; testing begins and mandatory rule expected in Q2
Summary
Ginnie Mae told issuers it will require real‑time liquidation event reporting (LER) via a new L record per APM 25‑7; issuer testing is ongoing, reporting may begin Feb. 3 after successful testing, testing closes Feb. 26, and the agency aims to make LER mandatory in the second quarter.
Ginnie Mae outlined a new liquidation event reporting (LER) requirement and the testing and implementation timeline.
Norma Freshard (senior IT project manager) said LER, described in APM 25‑7 and tied to MBS Guide chapter 17 and Appendix 6‑24, requires single‑family issuers to submit data using an L record that contains only fields relevant to a…
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