Ginnie Mae Issues APM 20-05 on the Availability of Its Pass Through Assistance Program

In response to the COVID-19 crisis, Ginnie Mae issued All Points Memorandum 20-05, detailing the availability of its Pass Through Assistance Program for issuers under the Multifamily MBS program, effective immediately.

Multifamily issuers can only request assistance once a month to cover shortfalls on the principal and interest due (from loans that are in forbearance) for the month the request is made and may not be used to cover other operational or servicing costs.

As discussed in a prior WBK article, Ginnie Mae had previously issued APM 20-03, which detailed the availability of Ginnie Mae’s Pass Through Assistance Program for issuers under the Single Family MBS program.