Form HUD-11738, Deposit Agreement

Form HUD-11738, Deposit Agreement, is the Government National Mortgage Association (Ginnie Mae) form that a Bank and a Mortgagee execute to document a Certificate of Deposit payable to Ginnie Mae, together with any renewals of that certificate.

The form is a short contract made in triplicate originals. It identifies the Bank and the Mortgagee, the amount of the Certificate of Deposit, its date (the issue date of securities) and its maturity date. A reproduced copy of that certificate, called the "Original CD," is affixed to the agreement for identification. If the maturity date of the Original CD is less than three years from the date of the agreement, the Bank issues additional certificates, each called a "Renewal CD."

Its six numbered paragraphs provide that:

• Ginnie Mae owns all right, title and interest in the Original CD and each Renewal CD, and the principal of the proceeds is payable solely to Ginnie Mae or its endorsee.
• The Bank holds each certificate in safekeeping for Ginnie Mae's account, gives Ginnie Mae a receipt, and surrenders a certificate on Ginnie Mae's written request.
• Each Renewal CD is for the amount of the Original CD, is dated the day after the previous certificate matures, and has the same terms except that interest is the Bank's posted rate on its date.
• The Bank sends reproduced copies of each Renewal CD to Ginnie Mae and the Mortgagee and cancels the prior certificate.
• The agreement ends when a certificate is surrendered and relinquished to Ginnie Mae.
• Interest on the Original CD and any Renewal CD accrues and is paid to the Mortgagee.

The form refers to Ginnie Mae Handbook 5500.3, Rev. 1, and states that previous editions are obsolete.

The two parties named in the agreement complete and sign it: the Bank that has issued the Certificate of Deposit, and the Mortgagee. Each signs on its own line, marked "By" with a space for the signer's title.

The form places itself within Ginnie Mae's issuer program materials: it has spaces for the Issuer ID Number and the Ginnie Mae Pool or Loan Package Number, and it cites Ginnie Mae Handbook 5500.3, Rev. 1. Check that handbook for the circumstances in which your pool or loan package calls for this agreement.

Ginnie Mae is the owner of the certificates and the payee, but it is not one of the two signing parties. The form does not describe who may sign on behalf of the Bank or the Mortgagee beyond the signer's title, and it prints no exclusions.

Complete the agreement once the Bank has issued the Certificate of Deposit, because the form recites that the Bank has already issued it and asks for its amount, its date (the issue date of securities) and its maturity date. The form prints no separate due date.

The date written on the agreement matters. Renewal CDs are issued when the maturity date of the Original CD is less than three years from the date of the agreement.

The agreement stays in force until the Original CD or any Renewal CD is surrendered and relinquished to Ginnie Mae. Under paragraph 2 the Bank surrenders a certificate on Ginnie Mae's written request, and under paragraph 5 the agreement then ends.

The form names no mailing address, portal or appointment process. It requires execution in triplicate originals by the Bank and the Mortgagee, and it refers to Ginnie Mae Handbook 5500.3, Rev. 1.

• Execution: the Bank and the Mortgagee each sign all three originals, with the reproduced copy of the Original CD affixed for identification.
• After execution: the Bank furnishes reproduced copies of each Renewal CD to Ginnie Mae and the Mortgagee, showing the cancellation of the prior certificate.
• Where to get the form: Ginnie Mae publishes the PDF at https://ginniemae.gov/issuers/program_guidelines/FormsLibrary/HUD-11738.pdf.

Confirm delivery instructions for the signed originals in the handbook or with Ginnie Mae. FillingPDF lets you fill out and download the PDF; submission follows the agency's channels.