Testing GNMA’s New Payment Default Status Loan Level Reporting Dataset

Testing GNMA’s New Payment Default Status Loan Level Reporting Dataset

Ginnie Mae (GNMA) APM 24-06 and Modernization Bulletin 41 announced implementation details for a Single Family Monthly Payment Default Status Loan Level Reporting (PDS) dataset. PDS includes information on why a loan may be in default, any mitigation actions that may have been taken, and the timing of those actions. PDS submissions are required beginning December 1, 2024, for the November reporting period, or sooner for servicers who have successfully completed testing.

Testing Phase

The testing phase for PDS began in the second calendar quarter 2024. Servicers are required to register with Ginnie Mae and submit a test plan prior to testing their files. Detailed information regarding testing procedures, implementation schedules, and training materials is available on the GNMA Modernization Initiatives web page. Servicers are required to complete testing of the PDS file in any one of the three testing cycles available, by October 31, 2024. Fusion Servicing Director has developed a BETA package to generate test PDS files to participate in GNMA testing cycles.  

How to participate in testing

The “GNMA PDS BETA package” is available as of July 17, 2024, for clients who would like to test the GNMA PDS file. Create a case to request the GNMA PDS BETA package for testing and we will reach out to you with further instructions.  

Note: You do not need to create a new case if you have already raised a case to notify us of your interest in testing the GNMA updates.
  • For any additional information or questions related to the testing environment, or tools available on the GNMA website, email askGinnieMae@hud.gov .
  • If you have questions or find issues with the data reported on the GNMA RFS Issuers Monthly Reporting Export file, create a case with details of the issue, and attach a copy of your GNMA RFS export file.

This Product Bulletin is posted to make you aware of the issue it describes so you can determine the steps or changes necessary to mitigate or avoid risk, ensure document compliance, or otherwise address the issue. This bulletin does not constitute legal advice. Any legal questions that your financial institution has should be directed to your compliance officer and legal counsel.

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