# Government National Mortgage Association: Excess Yield Securities
> **US Department of Housing and Urban Development** · Final rule. · Published 2006-06-05 · Effective 2006-07-05 · 71 FR 32388
## Document
- **Document number:** E6-8636
- **Category:** hud-other
- **Agency:** US Department of Housing and Urban Development
- **Federal Register citation:** 71 FR 32388
- **CFR reference:** 24 CFR 320
- **Publication date:** 2006-06-05
- **Effective date:** 2006-07-05
- **Docket:** Docket No. FR-4958-F-02
## Abstract

The Government National Mortgage Association (Ginnie Mae) has developed a new program under which Ginnie Mae will guarantee securities backed by the excess servicing income relating to one or more mortgage pools or loan packages underlying previously issued Ginnie Mae mortgage-backed securities (Excess Yield Securities). This final rule clarifies the authority of Ginnie Mae to guarantee this new product and establishes a new regulation that defines Excess Yield Securities and sets out the Ginnie Mae guaranty. This final rule follows publication of a September 14, 2005, proposed rule and public comment period. After Ginnie Mae's careful consideration of the public comment received, the proposed rule is being adopted without change.

## Source
- [Federal Register document](https://www.federalregister.gov/documents/2006/06/05/E6-8636/government-national-mortgage-association-excess-yield-securities)
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