Hud Form 11708 PDF Details

The HUD 11708 form, officially known as the Request for Release of Documents, plays a crucial role in the administration of mortgage-backed securities under the Ginnie Mae I and Ginnie Mae II MBS Programs. This form is employed when issuers, typically financial institutions or mortgage lenders, need to retrieve original mortgage documents from the custody of document custodians. Notably, this process is an option for those who do not utilize GinnieNET for electronic submissions, requiring manual completion and submission of the form. The form outlines specific details such as the document custodian and issuer’s information, the mortgagor's details, the pool number, and the reasons for the document release request. Completion of this form triggers the custodian to release the necessary documents, which the issuer must hold in trust for the benefit of Ginnie Mae and the securities holders. Whether it's for removing a loan from a pool due to reasons like mortgage payoff, delinquency repurchase, or substitution of loans, this form underscores a critical checkpoint in ensuring the securities' integrity and the underlying mortgage loans' proper administration. Furthermore, the form dictates a process for documentation, including acknowledgment from the custodian, thereby maintaining a clear record of document movements and their basis, ultimately aimed at transparency and accountability in mortgage-backed securities management.

QuestionAnswer
Form NameHud Form 11708
Form Length3 pages
Fillable?No
Fillable fields0
Avg. time to fill out45 sec
Other namesginnie mae form 11708, blank 11708, ginnie mae 11708 form, form hud 11708

Form Preview Example

GINNIE MAE 5500.3, REV. 1

APPENDIX V-5

FORM HUD 11708 - REQUEST FOR RELEASE OF DOCUMENTS

Applicability: Ginnie Mae I MBS Program and Ginnie Mae II MBS Program.

Purpose: For issuers who do not file Requests for Release of Document electronically using GinnieNET, to be used to request release of mortgage documents held by the document custodian. Issuers using GinnieNET to submit requests for document releases must follow the instructions set forth in the GinnieNET Issuer Guide. If issuers submit release requests using GinnieNET, document custodians must follow the instructions set forth in the GinnieNET Custodian Guide.

Prepared by: Issuer initially. The document custodian must fill in some of the blanks.

Prepared in: Original. (Document custodian will provide the issuer with one signed and dated copy.)

Distribution: The original is delivered to the document custodian. The document custodian will date and retain the original form and provide one copy, after acknowledgment, to the issuer. If the documents are requested for any reason other than to remove a loan from a pool or loan package, on the return of the documents, the document custodian must sign the bottom of the form used to request document release. The document custodian must give the issuer one copy of the signed and dated form and retain the original for its files.

Completion

Instructions:

1.Enter the name of the document custodian.

2.Enter the date the issuer prepares the form HUD 11708.

3.Enter the mortgagor’s name and full address, including zip code.

4.Enter the appropriate pool number.

5.Enter the number assigned to the affected loan by the insuring or guaranteeing agency.

6.Enter the number assigned to the loan by the issuer.

7.Indicate the reason for requesting the release, using the appropriate number from the list of reasons set forth below this blank.

8.Enter in the blank to the right of the appropriate reason for the request the date the issuer expects to return the released documents to the document custodian.

9.Signature of authorized officer of the issuer whose name appears on Resolution of Board of Directors and Certificate of Authorized Signatures, form HUD 11702.

Date: 01/01/06

1

Appendix V-5

GINNIE MAE 5500.3, REV. 1

10.Enter full name of issuer.

11.Enter the issuer ID number assigned by Ginnie Mae.

12.Signature of authorized officer of document custodian.

13.Enter the issuer’s document custodian ID number assigned by Ginnie Mae.

14.Enter the date the requested document is released to the issuer.

15.Signature of authorized officer of document custodian, indicating return of released document.

16.Enter date issuer returns released document.

Date: 01/01/06

2

Appendix V-5

Request for Release of Documents

U.S. Department of Housing

OMB Approval No. 2503-0033(Exp12/31/2013)

and Urban Development

 

Government National Mortgage Association

 

Public reporting burden for this information collection is estimated to average 3 minutes per response, including the time for reviewing instructions, searching existing data sources, gathering and maintaining the data needed, and completing and reviewing the collection of information. Ginnie Mae may not collect this information, and you are not required to complete this form, unless it displays a currently valid OMB control number. The information is required by Sec. 306(g) of the National Housing Act or by Ginnie Mae Handbook 5500.3, Rev. 1. The purpose of this document is to provide issuers the opportunity to request the release of mortgage documents held by the document custodian. The information collected will not be disclosed outside the Department without consent, except as required by law.

To Document Custodian

1

Date Prepared by Issuer

2

In connection with the administration of the pool or loan package of mortgages held by you in custody for the Government National Mortgage Association, the undersigned Issuer requests the release of the mortgage documents described below for the reason indicated. All documents to be released to the Issuer shall be held in trust by the Issuer for the benefit of Ginnie Mae and the applicable securities holders, and the Issuer's possession of such documents shall be at the will of Ginnie Mae and such securities holders solely for the purpose indicated below. The Issuer shall return the documents to the document custodian when the Issuer's need thereof no longer exists, except where the mortgage is paid in full or otherwise disposed of in accordance with the Ginnie Mae Mortgage-Backed Securities Guide, Rev. 1.

Mortgagor’s Name, Address and Zip Code

Pool Number

4

 

 

 

 

3

 

 

 

FHA/VA/RHS/§184 Number

 

5

 

 

 

 

 

 

 

 

 

 

Issuer Loan Number

6

 

 

 

 

 

 

 

 

Reason For Requesting Documents:

 

 

 

7

 

 

8

Enter Reason Number _______________

Settlement/Expected Return Date

 

1.Mortgage Paid in Full

2.Repurchase of Delinquent Loan

3.Foreclosure with Claim Payment

4.Loss Mitigation

5.Substitution

6.Other

Issuer Signature

Issuer Name

 

Issuer ID Number

 

9

10

11

To Document Custodian: Please acknowledge by your signature the execution of the above request. You must retain this form for your file in accordance with the terms of the Master Custodial Agreement. A copy of this form, signed and dated by you, shall be given to the Issuer.

Authorized Signature of Document Custodian

12

Document Custodian Number

13

Document Release Date

14

Return of Released Document(s)

All Documents Released have been Returned.

Authorized signature of Document Custodian

Date Document was Returned

15

16

 

 

 

 

form HUD-11708 (01/2006)

Previous editions are obsolete

Page 1 of 1

ref. Ginnie Mae Handbook 5500.3, Rev. 1

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