Master Agreement for Participation Accounting

• Legal Form Number: HUD-11703-II
• Issuer: Ginnie Mae
• Section: Ginnie Mae

Initial Renewal

Issuer ID Number

The Issuer:

The Issuer shall perform the monitoring and accounting of pooled Participations designated in a

Schedule of Pooled Participations and Mortgages, (form HUD-11706H) for each issue of

Ginnie Mae-guaranteed mortgage-backed securities (HMBS).

The Issuer shall contract with only one third party (a Participation Agent) to perform all

monitoring and accounting activities related to pooled Participations as designated in a form

HUD-11706H. Issuer’s contract with the Participation Agent is set forth below. The Issuer

agrees to monitor and evaluate the work of the Participation Agent and correct any findings or

results from any reviews.

The Issuer agrees that the Participations designated on each form HUD -11706H are to be

monitored and accounted for, whether by the Issuer or by its Participation Agent, in accordance

with the requirements set forth in the Ginnie Mae Mortgage-Backed Securities Guide. The Issuer

agrees to be responsible and liable for the monitoring and accounting for the Participation s,

including any acts or omissions of its Participation Agent in connection therewith. The Issuer has

in place a quality control plan for monitoring and accounting for the Participations.





By

GINNIE MAE 5500.3, REV. 1

Master Agreement for

Participation Accounting

U.S. Department of Housing

and Urban Development

Government National Mortgage Association

Name of Issuer

Date Ti tle

The Issuer and the Participation Agent: (if applicable)

The Agreement, dated this _________ day of __________ , 20____, is by and between the Issuer and

_______________ , a _________________________ duly formed pursuant to the laws of the State or

Commonwealth of _______________ , having a principal office at _________________ (Participation

Agent).

Whereas, the Issuer proposes to issue mortgage-backed securities guaranteed by the Government

National Mortgage Association (Ginnie Mae) pursuant to Section 306(g) of the National Housing Act;

Whereas, these securities will be based on and backed by all pools of Participations identified in the

records of Ginnie Mae by the Issuer’s ID Number and related to home equity conversion mortgages

(HECMs);

Whereas, the parties to this Agreement desire to set forth the terms and conditions for the monitoring

Date: 12/16/2013 1 Appendix I-7