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HUD Federal Register Notice-New Ginnie Mae Record System for MBSs

HUD published “Privacy Act of 1974; Notice of a New System of Records, Enterprise Wide Operations Data Store” (December 5, 2012, Docket No. FR–5613–N–11) in the Federal Register.

The intent of the notice is to a new system of records, the Enterprise Wide Operations Data Store (EWODS) for the Government Mortgage National Associate (Ginnie Mae), Office of Mortgage-Back Securities (MBS), which focuses on guaranteeing Ginnie Mae investors a timely payment of principal and interest on MBS backed by federally insured or guaranteed loans.

The EWODS is to serve as a central back-end repository to manage various reporting, pooling, and risk management activities associated with the mortgage-backed securities process. The EWODS production activities will typically maintain data submitted to Ginnie Mae by Issuers who issue securities backed by insured or guaranteed mortgage loans, mainly those administered for HUD’s Federal Housing Administration or the U.S. Department of Veterans Affairs. The EWODS system is expected to standardize the mortgage-backed securities activities and improve significantly the efficiency of Ginnie Mae’s production activities, pooling, reporting and risk management efforts.

This proposal shall become effective, without further notice, January 4, 2013, unless comments are received during or before this period which would result in a contrary determination.

A copy of the notice is available here: http://www.gpo.gov/fdsys/pkg/FR-2012-12-05/pdf/2012-29356.pdf

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