Offering Circular Supplement(To Multifamily Base Offering Circular datedOctober 1, 2011)

$748,506,461Government National Mortgage Association

GINNIE MAEÈ

Guaranteed Multifamily REMIC Pass-Through Securitiesand MX Securities

Ginnie Mae REMIC Trust 2013-141

The Securities

The Trust will issue the Classes ofSecurities listed on the front cover ofthis offering circular supplement.

The Ginnie Mae Guaranty

Ginnie Mae will guarantee the timelypayment of principal and interest onthe securities. The Ginnie Mae Guar-anty is backed by the full faith andcredit of the United States of America.Ginnie Mae does not guarantee thepayment of any Prepayment Penalties.

The Trust and its Assets

The Trust will own the Ginnie MaeMultifamily Certificates described onExhibit A.

Class ofREMIC Securities

OriginalPrincipal

Balance(2)Interest

RatePrincipalType(3)

InterestType(3)

CUSIPNumber

FinalDistribution

Date(4)

A(1) . . . . . . . . . . . . . $500,820,000 2.023% SEQ FIX 38378K3L1 June 2040B(1) . . . . . . . . . . . . . 71,439,000 2.286 SEQ FIX 38378K3M9 April 2043C(1) . . . . . . . . . . . . . 31,064,000 (5) SEQ WAC/DLY 38378K3N7 July 2044D(1) . . . . . . . . . . . . . 28,170,000 (5) SEQ WAC/DLY 38378K3P2 September 2045E(1) . . . . . . . . . . . . . 25,463,000 (5) SEQ WAC/DLY 38378K3Q0 September 2046G(1) . . . . . . . . . . . . . 22,919,000 (5) SEQ WAC/DLY 38378K3R8 September 2047H(1) . . . . . . . . . . . . . 20,495,000 (5) SEQ WAC/DLY 38378K3S6 July 2048J(1) . . . . . . . . . . . . . . 33,166,000 (5) SEQ WAC/DLY 38378K3T4 February 2052Z . . . . . . . . . . . . . . . 14,970,461 (5) SEQ WAC/Z/DLY 38378K3U1 August 2053IA(1) . . . . . . . . . . . . 500,820,000 0.263 NTL(SEQ) FIX/IO 38378K3V9 June 2040IB(1) . . . . . . . . . . . . 500,820,000 (5) NTL(SEQ) WAC/IO/DLY 38378K3W7 June 2040IC(1) . . . . . . . . . . . . 71,439,000 (5) NTL(SEQ) WAC/IO/DLY 38378K3X5 April 2043ID(1) . . . . . . . . . . . . 733,536,000 (5) NTL(SEQ) WAC/IO/DLY 38378K3Y3 February 2052

ResidualRR . . . . . . . . . . . . . . 0 0.000 NPR NPR 38378K3Z0 August 2053

(1) These Securities may be exchanged for MX Securities described in Schedule I to this Supplement.(2) Subject to increase as described under “Increase in Size” in this Supplement. The amount shown for each Notional

Class (indicated by “NTL” under Principal Type) is its original Class Notional Balance and does not represent princi-pal that will be paid.

(3) As defined under “Class Types” in Appendix I to the Multifamily Base Offering Circular. The type of Class withwhich the Class Notional Balance of each Notional Class will be reduced is indicated in parentheses.

(4) See “Yield, Maturity and Prepayment Considerations — Final Distribution Date” in this Supplement.(5) See “Terms Sheet — Interest Rates” in this Supplement.

The securities may not be suitable investments for you. You should consider carefully the risks of invest-ing in them.

See “Risk Factors” beginning on page S-8 which highlights some of these risks.

The Sponsor and the Co-Sponsor will offer the securities from time to time in negotiated transactions at varyingprices. We expect the closing date to be September 30, 2013.

You should read the Base Offering Circular for Guaranteed Multifamily REMIC Pass-Through Securities, Chapter 31and Chapter 32 of the Ginnie Mae Mortgage-Backed Securities Guide 5500.3, as amended, and this Supplement.

The securities are exempt from registration under the Securities Act of 1933 and are “exempted securities” underthe Securities Exchange Act of 1934.

CREDIT SUISSE MISCHLER FINANCIAL GROUP, INC.

The date of this Offering Circular Supplement is September 23, 2013.

AVAILABLE INFORMATION

You should purchase the securities only if you have read and understood the following documents:

• this Offering Circular Supplement (this “Supplement”),

• the Base Offering Circular for Guaranteed Multifamily REMIC Pass-Through Securities dated as ofOctober 1, 2011 (hereinafter referred to as the “Multifamily Base Offering Circular”) and

• Chapter 31 and Chapter 32 of the Ginnie Mae Mortgage-Backed Securities Guide 5500.3, asamended (the “MBS Guide”).

The Multifamily Base Offering Circular and the MBS Guide are available on Ginnie Mae’s websitelocated at http://www.ginniemae.gov.

If you do not have access to the internet, call BNY Mellon, which will act as information agent forthe Trust, at (800) 234-GNMA, to order copies of the Multifamily Base Offering Circular and the MBSGuide.

In addition, you can obtain copies of the disclosure documents related to the Ginnie Mae Multi-family Certificates by contacting BNY Mellon at the telephone number listed above.

Please consult the standard abbreviations of Class Types included in the Multifamily Base OfferingCircular as Appendix I and the glossary included in the Multifamily Base Offering Circular as Appen-dix II for definitions of capitalized terms.

TABLE OF CONTENTS

Page

Terms Sheet . . . . . . . . . . . . . . . . . . . . . . . . . S-3Risk Factors . . . . . . . . . . . . . . . . . . . . . . . . . S-8The Ginnie Mae Multifamily Certificates . . . S-12Ginnie Mae Guaranty . . . . . . . . . . . . . . . . . S-19Description of the Securities . . . . . . . . . . . . S-19Yield, Maturity and Prepayment

Considerations . . . . . . . . . . . . . . . . . . . . . S-24Certain United States Federal Income Tax

Consequences . . . . . . . . . . . . . . . . . . . . . S-42

Page

ERISA Matters . . . . . . . . . . . . . . . . . . . . . . . S-44Legal Investment Considerations . . . . . . . . S-44Plan of Distribution . . . . . . . . . . . . . . . . . . . S-45Increase in Size . . . . . . . . . . . . . . . . . . . . . . S-45Legal Matters . . . . . . . . . . . . . . . . . . . . . . . . S-45Schedule I: Available Combinations . . . . . . S-I-1Exhibit A . . . . . . . . . . . . . . . . . . . . . . . . . . . A-1

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TERMS SHEET

This terms sheet contains selected information for quick reference only. You should read this Sup-plement, particularly “Risk Factors,” and each of the other documents listed under “AvailableInformation.”

Sponsor: Credit Suisse Securities (USA) LLC

Co-Sponsor: Mischler Financial Group, Inc.

Trustee: Wells Fargo Bank, N.A.

Tax Administrator: The Trustee

Closing Date: September 30, 2013

Distribution Date: The 16th day of each month or, if the 16th day is not a Business Day, the firstBusiness Day thereafter, commencing in October 2013.

Composition of the Trust Assets:

The Ginnie Mae Multifamily Certificates will consist of:

(i) 147 fixed rate Ginnie Mae Project Loan Certificates, which have an aggregate balance of approx-imately $697,121,294 as of the Cut-off Date.

(ii) 3 fixed rate Ginnie Mae Construction Loan Certificates, which have an aggregate balance ofapproximately $51,414,667 as of the Cut-Off Date.

Certain Characteristics of the Ginnie Mae Multifamily Certificates and the Related MortgageLoans Underlying the Trust Assets(1):

The Ginnie Mae Multifamily Certificates and the related Mortgage Loans will have the following character-istics, aggregated on the basis of the applicable FHA insurance program or Section 538 Guarantee Program:

FHA Insurance Program/Section 538 Guarantee

ProgramPrincipalBalance

Numberof

TrustAssets

Percentof

TotalBalance

WeightedAverage

MortgageInterest

Rate

WeightedAverage

CertificateRate

WeightedAverageOriginalTerm to

Maturity(2)(3)(in months)

WeightedAverage

RemainingTerm to

Maturity(3)(in months)

WeightedAverage

Period FromIssuance (2)(in months)

WeightedAverage

RemainingLockoutPeriod

(in months)

WeightedAverage

TotalRemaining

Lockoutand

PrepaymentPenaltyPeriod

(in months)

207/223(f) . . . . . . . . . . . . $ 242,131,290 26 32.35% 2.935% 2.679% 414 410 4 0 116232/223(a)(7) . . . . . . . . . 107,924,078 19 14.42 3.417 3.140 356 353 3 4 114221(d)(4)/223(a)(7) . . . . 96,724,348 20 12.92 3.462 3.195 437 435 2 4 112221(d)(4) . . . . . . . . . . . . 63,008,834 26 8.42 4.320 4.015 474 467 7 11 113223(f) . . . . . . . . . . . . . . . 58,592,842 12 7.83 3.137 2.869 398 396 2 2 118223(f)/223(a)(7) . . . . . . . 46,758,348 19 6.25 3.735 3.444 390 386 4 2 112232 . . . . . . . . . . . . . . . . . 30,677,168 4 4.10 4.735 4.481 461 453 8 16 112220 . . . . . . . . . . . . . . . . . 30,041,839 2 4.01 5.510 5.260 510 476 35 18 115232/223(f) . . . . . . . . . . . . 29,579,572 5 3.95 3.701 3.445 377 375 2 1 118207/223(a)(7) . . . . . . . . . 13,573,792 5 1.81 3.714 3.399 434 430 3 0 117231 . . . . . . . . . . . . . . . . . 11,836,631 1 1.58 2.900 2.650 458 456 2 0 118207/223(f)/223(a)(7) . . . 6,745,108 4 0.90 3.488 3.230 420 417 3 1 116241(a) . . . . . . . . . . . . . . . 4,375,727 2 0.58 4.591 4.207 380 378 2 18 114220/223(a)(7) . . . . . . . . . 2,921,231 1 0.39 3.250 3.000 474 471 3 0 117241(a)/223(a)(7) . . . . . . . 2,106,179 1 0.28 4.550 4.300 324 323 1 11 119538/515 . . . . . . . . . . . . . . 790,219 2 0.11 4.177 3.395 479 477 2 3 117538 . . . . . . . . . . . . . . . . . 748,754 1 0.10 4.080 3.440 479 477 2 9 117

Total/WeightedAverage: $748,535,961 150 100.00% 3.499% 3.229% 416 411 5 4 115

(1) As of September 1, 2013 (the ‘‘Cut-off Date’’); includes Ginnie Mae Multifamily Certificates added topay the Trustee Fee. Some of the columns may not foot due to rounding.

(2) Based on the issue date of the related Ginnie Mae Multifamily Certificate.(3) Based on the assumption that each Ginnie Mae Construction Loan will convert to a Ginnie Mae

Project Loan Certificate.

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The information contained in this chart has been collected and summarized by the Sponsor basedon publicly available information, including the disclosure documents for the Ginnie Mae MultifamilyCertificates. See “The Ginnie Mae Multifamily Certificates — The Mortgage Loans” and Exhibit A to thisSupplement.

Lockout Periods and Prepayment Penalties: Certain of the Mortgage Loans prohibit voluntaryprepayments during specified lockout periods with remaining terms that range from 0 to 22 months.The Mortgage Loans have a weighted average remaining lockout period of approximately 4 months.Certain of the Mortgage Loans are insured under FHA insurance program Section 223(f), which, withrespect to certain mortgage loans insured thereunder, prohibits prepayments for a period of five(5) years from the date of endorsement, regardless of any applicable lockout periods associated withsuch mortgage loans. The Mortgage Loans provide for payment of Prepayment Penalties during speci-fied periods beginning on the applicable lockout period end date or, if no lockout period applies, theapplicable Issue Date. In some circumstances FHA may permit an FHA-insured Mortgage Loan to berefinanced or prepaid without regard to any lockout, statutory prepayment prohibition or PrepaymentPenalty provisions. See “The Ginnie Mae Multifamily Certificates — Certain Additional Characteristics ofthe Mortgage Loans” and “Characteristics of the Ginnie Mae Multifamily Certificates and the RelatedMortgage Loans” in Exhibit A to this Supplement. Prepayment Penalties received by the Trust will beallocated as described in this Supplement.

Issuance of Securities: The Securities, other than the Residual Securities, will initially be issued inbook-entry form through the book-entry system of the U.S. Federal Reserve Banks (the “Fedwire Book-Entry System”). The Residual Securities will be issued in fully registered, certificated form. See“Description of the Securities — Form of Securities” in this Supplement.

Modification and Exchange: If you own exchangeable Securities, you will be able, upon notice andpayment of an exchange fee, to exchange them for a proportionate interest in the related Securitiesshown on Schedule I to this Supplement. Under certain circumstances, each of Classes AN, AQ, AT, AU,AV, AW, AY, IH and IJ will be subject to mandatory exchange, with no exchange fee, for its relatedREMIC Securities. See “Description of the Securities — Modification and Exchange” in this Supplement.

Increased Minimum Denomination Classes: Each Class that constitutes an Interest Only Class andClasses AN, AQ, AT, AU, AV, AW and AY. See “Description of the Securities — Form of Securities” in thisSupplement.

Interest Rates: The Interest Rates for the Fixed Rate Classes are shown on the front cover of thisSupplement or on Schedule I to this Supplement.

The Weighted Average Coupon Classes will bear interest during each Accrual Period at per annumInterest Rates based on the Weighted Average Certificate Rate of the Ginnie Mae Multifamily Certificates(“WACR”) as follows:

Each of Classes AD, AE, AG, AH, AJ, AK, AL, AM, AN, AQ, AT, AU, AV, AW, AY, IE, IG, IH, IJ, MA,MB, MC, MD, ME, MG, MH, MJ, MK, ML, MN, MQ, MT, MU, MV, MW, MY, NA, NB, NC and ND isa Weighted Average Coupon Class that will bear interest during each Accrual Period at an equiv-alent annualized rate derived by aggregating the accrued interest on its related REMIC Classes forthat Accrual Period expressed as a percentage of its outstanding principal or notional balance forthat Accrual Period, subject to certain limitations as set forth under “Description of the Securities —Modification and Exchange” in this Supplement.

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Each of Classes C, D, E, G, H and J will bear interest during each Accrual Period at a per annumrate equal to the lesser of WACR and 2.90000%.

Each of Classes IB and IC will bear interest during each Accrual Period at a per annum rate equalto (a) the lesser of WACR and 2.90000% minus (b) 2.28600%.

Class ID will bear interest during each Accrual Period at a per annum rate equal to WACR less theweighted average of the applicable Interest Rates for Classes A, B, C, D, E, G, H and J for thatAccrual Period (assuming, only for purposes of this calculation, Classes A and B have an InterestRate equal to the lesser of WACR and 2.90000%), weighted based on the Class Principal Balance ofeach such Class for the related Distribution Date (before giving effect to any payments on suchDistribution Date).

Class Z will bear interest during each Accrual Period at a per annum rate equal to WACR.

The Weighted Average Coupon Classes will bear interest during the initial Accrual Period at thefollowing approximate Interest Rates:

Class

ApproximateInitial

Interest Rate

AD . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2.90000%AE . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2.90000AG . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2.90000AH . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2.90000AJ . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2.90000AK . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2.90000AL . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2.90000AM . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2.90000AN . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3.32127AQ . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3.29958AT . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3.28175AU . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3.26696AV . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3.25459AW . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3.24421AY . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3.22865C . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2.90000D . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2.90000E . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2.90000G . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2.90000H . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2.90000IB . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.61400IC . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.61400ID . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.32865IE . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.87700IG . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.84417IH . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.98721IJ . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.80765J . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2.90000MA . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2.90000

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Class

ApproximateInitial

Interest Rate

MB . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2.90000%MC . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2.90000MD . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2.90000ME . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2.90000MG . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2.90000MH . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2.90000MJ . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2.90000MK . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2.90000ML . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2.90000MN . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2.90000MQ . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2.90000MT . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2.90000MU . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2.90000MV . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2.90000MW . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2.90000MY . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2.90000NA . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2.90000NB . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2.90000NC . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2.90000ND . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2.90000Z . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3.22865

Allocation of Principal: On each Distribution Date, a percentage of the Principal DistributionAmount will be applied to the Trustee Fee, and the remainder of the Principal Distribution Amount (the“Adjusted Principal Distribution Amount”) and the Accrual Amount will be allocated, sequentially, to A,B, C, D, E, G, H, J and Z, in that order, until retired.

Allocation of Prepayment Penalties: On each Distribution Date, the Trustee will pay 100% of anyPrepayment Penalties that are collected and passed through to the Trust to Class ID.

Accrual Class: Interest will accrue on the Accrual Class identified on the front cover of this Supple-ment at the per annum rate set forth in this Terms Sheet under “Interest Rates.” However, no interestwill be distributed to the Accrual Class as interest. Interest so accrued on the Accrual Class on each Dis-tribution Date will constitute the Accrual Amount, which will be added to the Class Principal Balance ofthe Accrual Class on each Distribution Date and will be distributable as principal as set forth in thisTerms Sheet under “Allocation of Principal.”

Notional Classes: The Notional Classes will not receive distributions of principal but haveClass Notional Balances for convenience in describing their entitlements to interest. The Class Notional

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Balance of each Notional Class represents the percentage indicated below of, and reduces to that extentwith, the Class Principal Balances indicated:

ClassOriginal Class

Notional Balance Represents

IA . . . . . . . . . . . . . $500,820,000 100% of A (SEQ Class)IB . . . . . . . . . . . . . 500,820,000 100% of A (SEQ Class)IC . . . . . . . . . . . . . 71,439,000 100% of B (SEQ Class)ID . . . . . . . . . . . . . 733,536,000 100% of A, B, C, D, E, G, H and J (in the aggregate) (SEQ Classes)IE . . . . . . . . . . . . . 500,820,000 100% of A (SEQ Class)IG . . . . . . . . . . . . . 572,259,000 100% of A and B (in the aggregate) (SEQ Classes)IH . . . . . . . . . . . . . 733,536,000 100% of A, B, C, D, E, G, H and J (in the aggregate) (SEQ Classes)IJ . . . . . . . . . . . . . . 733,536,000 100% of A, B, C, D, E, G, H and J (in the aggregate) (SEQ Classes)

Tax Status: Double REMIC Series. See “Certain United States Federal Income Tax Consequences” inthis Supplement and in the Multifamily Base Offering Circular.

Regular and Residual Classes: Class RR is a Residual Class and represents the Residual Interest of theIssuing REMIC and the Pooling REMIC. All other Classes of REMIC Securities are Regular Classes.

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RISK FACTORS

You should purchase securities only if you understand and are able to bear the associated risks. Therisks applicable to your investment depend on the principal and interest type of your securities. This sec-tion highlights certain of these risks.

The rate of principal payments on theunderlying mortgage loans will affect therate of principal payments on your secu-rities. The rate at which you will receive princi-pal payments will depend largely on the rate ofprincipal payments, including prepayments, onthe mortgage loans underlying the related trustassets. Any historical data regarding mortgageloan prepayment rates may not be indicative ofthe rate of future prepayments on the underlyingmortgage loans, and no assurances can be givenabout the rates at which the underlying mortgageloans will prepay. We expect the rate of principalpayments on the underlying mortgage loans willvary. Generally, following any lockout period,and upon payment of any applicable prepay-ment penalty, borrowers may prepay their mort-gage loans at any time. However, borrowerscannot prepay certain mortgage loans insuredunder FHA insurance program Section 223(f) fora period of five (5) years from the date ofendorsement, regardless of any applicable lock-out periods associated with such mortgage loans.In addition, in the case of FHA-insured mortgageloans, borrowers may prepay their mortgageloans during a lockout period, or during anystatutory prepayment prohibition period orwithout paying any applicable prepaymentpenalty with the approval of FHA.

In addition to voluntary prepayments, mortgageloans can be prepaid as a result of governmentalmortgage insurance claim payments, loss miti-gation arrangements, repurchases or liquidationsof defaulted mortgage loans. Although undercertain circumstances Ginnie Mae issuers havethe option to repurchase defaulted mortgageloans from the related pool underlying a GinnieMae MBS certificate, they are not obligated to doso. Defaulted mortgage loans that remain inpools backing Ginnie Mae MBS certificates maybe subject to governmental mortgage insuranceclaim payments, loss mitigation arrangements orforeclosure, which could have the same effect asvoluntary prepayments on the cash flow avail-

able to pay the securities. No assurances can begiven as to the timing or frequency of any gov-ernmental mortgage insurance claim payments,issuer repurchases, loss mitigation arrangementsor foreclosure proceedings with respect todefaulted mortgage loans and the resulting effecton the timing or rate of principal payments onyour securities.

Rates of principal payments can reduceyour yield. The yield on your securities prob-ably will be lower than you expect if:

• you purchased your securities at a premium(interest only securities, for example) andprincipal payments are faster than youexpected, or

• you purchased your securities at a discountand principal payments are slower than youexpected.

In addition, if your securities are interest onlysecurities or securities purchased at a significantpremium, you could lose money on yourinvestment if prepayments occur at a rapid rate.

Under certain circumstances, a Ginnie Maeissuer has the right to repurchase adefaulted mortgage loan from the relatedpool of mortgage loans underlying aparticular Ginnie Mae MBS certificate, theeffect of which would be comparable to aprepayment of such mortgage loan. At itsoption and without Ginnie Mae’s prior consent, aGinnie Mae issuer may repurchase any mortgageloan at an amount equal to par less any amountspreviously advanced by such issuer in con-nection with its responsibilities as servicer ofsuch mortgage loan to the extent that (i) in thecase of a mortgage loan included in a pool ofmortgage loans underlying a Ginnie Mae MBScertificate issued on or before December 1, 2002,such mortgage loan has been delinquent for fourconsecutive months, and at least one delinquentpayment remains uncured or (ii) in the case of a

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mortgage loan included in a pool of mortgageloans underlying a Ginnie Mae MBS certificateissued on or after January 1, 2003, no paymenthas been made on such mortgage loan for threeconsecutive months. Any such repurchase willresult in prepayment of the principal balance orreduction in the notional balance of the securitiesultimately backed by such mortgage loan. Noassurances can be given as to the timing or fre-quency of any such repurchases.

An investment in the securities is subject tosignificant reinvestment and extension risk.The rate of principal payments on your securitiesis uncertain. You may be unable to reinvest thepayments on your securities at the same returnsprovided by the securities. Lower prevailinginterest rates may result in an unexpected returnof principal. In that interest rate climate, higheryielding reinvestment opportunities may be lim-ited. Conversely, higher prevailing interest ratesmay result in slower returns of principal, and youmay not be able to take advantage of higheryielding investment opportunities. The finalpayment on your security may occur much ear-lier than the final distribution date.

Defaults will increase the rate of prepay-ment. Lending on multifamily properties andnursing facilities is generally viewed as exposingthe lender to a greater risk of loss than single-family lending. If a mortgagor defaults on amortgage loan and the loan is subsequentlyforeclosed upon or assigned to FHA for FHAinsurance benefits, or Rural Development forSection 538 guarantee benefits, or otherwiseliquidated, the effect would be comparable to aprepayment of the mortgage loan; however, noprepayment penalty would be received. Sim-ilarly, mortgage loans as to which there is amaterial breach of a representation may be pur-chased out of the trust without the payment of aprepayment penalty.

Extensions of the term to maturity of theGinnie Mae construction loan certificatesdelay the payment of principal to the trustand will affect the yield to maturity on yoursecurities. The extension of the term to maturityof any Ginnie Mae construction loan certificate

will require the related Ginnie Mae issuer toobtain the consent of the contracted securitypurchaser, the entity bound under contract withthe Ginnie Mae issuer to purchase all the GinnieMae construction loan certificates related to aparticular multifamily project. However, thesponsor, as contracted security purchaser, onbehalf of itself and all future holders of eachGinnie Mae construction loan certificate to bedeposited into the trust and all related GinnieMae construction loan certificates (whether ornot currently outstanding), has waived the rightto withhold consent to any requests of therelated Ginnie Mae issuer to extend the term tomaturity of those Ginnie Mae construction loancertificates (provided that any such extension,when combined with previously grantedextensions in respect of such Ginnie Mae con-struction loan certificates, would not extend theterm to maturity beyond the term of the under-lying mortgage loan insured by FHA). Thiswaiver effectively permits the related Ginnie Maeissuer to extend the maturity of the Ginnie Maeconstruction loan certificates in its sole discretion,subject only to the prior written approval ofGinnie Mae. A holder of a Ginnie Mae con-struction loan certificate is entitled only to inter-est at the specified interest rate on theoutstanding principal balance of the Ginnie Maeconstruction loan certificate until the earliest of(1) the liquidation of the mortgage loan, (2) atthe related Ginnie Mae issuer’s option, either(a) the first Ginnie Mae certificate payment dateof the Ginnie Mae project loan certificate follow-ing the conversion of the Ginnie Mae con-struction loan certificate or (b) the date ofconversion of the Ginnie Mae construction loancertificate to a Ginnie Mae project loan certificate,and (3) the maturity date (as adjusted for anypreviously granted extensions) of the Ginnie Maeconstruction loan certificate. Any extension of theterm to maturity may delay the commencementof principal payments to the trust and affect theyield on your securities.

The failure of a Ginnie Mae constructionloan certificate to convert into a Ginnie Maeproject loan certificate prior to its maturitydate (as adjusted for any previouslygranted extensions), for any reason, will

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result in the full payment of the principalbalance of the Ginnie Mae construction loancertificate on its maturity date and, accord-ingly, will affect the rate of prepayment. TheGinnie Mae construction loan certificate may failto convert if the prerequisites for conversion out-lined in Chapter 32 of the MBS Guide are notsatisfied, including, but not limited to, (1) finalendorsement by FHA of the underlying mortgageloan, (2) completion of the cost certificationprocess, and (3) the delivery of supportingdocumentation including, among other things,the note or other evidence of indebtedness andassignments endorsed to Ginnie Mae. Uponmaturity of the Ginnie Mae construction loancertificates, absent any extensions, the relatedGinnie Mae issuer is obligated to pay to theholders of the Ginnie Mae construction loan cer-tificates the outstanding principal amount. Thepayment of any Ginnie Mae construction loancertificate on the maturity date may affect theyield on your securities.

Any delay in the conversion of a Ginnie Maeconstruction loan certificate to a Ginnie Maeproject loan certificate will delay the pay-ment of principal on your securities. Theconversion of a Ginnie Mae construction loancertificate to a Ginnie Mae project loan certificatecan be delayed for a wide variety of reasons,including work stoppages, construction defects,inclement weather, completion of or delays inthe cost certification process and changes incontractors, owners and architects related to themultifamily project. During any such delay, thetrust will not be entitled to any principal pay-ments that may have been made by the bor-rower on the related underlying mortgage loan.The distribution of any such principal paymentswill not occur until the earliest of (1) the liqui-dation of the mortgage loan, (2) at the relatedGinnie Mae issuer’s option, either (a) the firstGinnie Mae certificate payment date of the Gin-nie Mae project loan certificate following theconversion of the Ginnie Mae construction loancertificate or (b) the date of conversion of theGinnie Mae construction loan certificate to aGinnie Mae project loan certificate, and (3) thematurity date (as adjusted for any previouslygranted extensions) of the Ginnie Mae con-

struction loan certificate. However, the holders ofthe securities will not receive any such amountsuntil the next distribution date on the securitiesand will not be entitled to receive any interest onsuch amount.

The yield on securities that would benefitfrom a faster than expected payment ofprincipal (such as securities purchased ata discount) may be adversely affected if theunderlying mortgage loan begins to amor-tize prior to the conversion of a Ginnie Maeconstruction loan certificate to a Ginnie Maeproject loan certificate. As holders of GinnieMae construction loan certificates are entitledonly to interest, any scheduled payments ofprincipal received with respect to the mortgageloans underlying the Ginnie Mae constructionloan certificate will not be passed through to thetrust. Any such amounts will be deposited into anon-interest bearing, custodial account main-tained by the related Ginnie Mae issuer and willbe distributed to the trust (unless otherwisenegotiated between the Ginnie Mae issuer andthe contracted security purchaser) on the earliestof (1) the liquidation of the mortgage loan, (2) atthe related Ginnie Mae issuer’s option, either(a) the first Ginnie Mae certificate payment dateof the Ginnie Mae project loan certificate follow-ing the conversion of the Ginnie Mae con-struction loan certificate or (b) the date ofconversion of the Ginnie Mae construction loancertificate to a Ginnie Mae project loan certificate,and (3) the maturity date (as adjusted for anypreviously granted extensions) of the Ginnie Maeconstruction loan certificate. However, the hold-ers of the securities will not receive any suchamounts until the next distribution date on thesecurities and will not be entitled to receive anyinterest on such amount. The delay in paymentof the scheduled principal may affect, perhapssignificantly, the yield on those securities thatwould benefit from a higher than anticipated rateof prepayment of principal.

If the amount of the underlying mortgageloan at final endorsement by FHA is lessthan the aggregate principal amount of theGinnie Mae construction loan certificatesupon completion of the particular multi-

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family project, the Ginnie Mae constructionloan certificates must be prepaid in theamount equal to the difference between theaggregate principal balance of the GinnieMae construction loan certificates and theprincipal balance of the Ginnie Mae projectloan certificates issued upon conversion.The reduction in the underlying mortgage loanamount could occur as a result of the costcertification process that takes place prior to theconversion to a Ginnie Mae project loan certifi-cate. In such a case, the rate of prepayment onyour securities may be higher than expected.

Available information about the mortgageloans is limited. Generally, neither auditedfinancial statements nor recent appraisals areavailable with respect to the mortgage loans, themortgaged properties, or the operating revenues,expenses and values of the mortgaged proper-ties. Certain default, delinquency and otherinformation relevant to the likelihood ofprepayment of the multifamily mortgage loansunderlying the Ginnie Mae multifamily certifi-cates is made generally available to the publicand holders of the securities should consult suchinformation. The scope of such information islimited, however, and accordingly, at a timewhen you might be buying or selling your secu-rities, you may not be aware of matters that, ifknown, would affect the value of your securities.

FHA has authority to override lockouts andprepayment limitations. FHA insurance andcertain mortgage loan and trust provisions mayaffect lockouts and the right to receive prepay-ment penalties. FHA may override any lockout,statutory prepayment prohibition or prepaymentpenalty provision with respect to the FHA-insured mortgage loans if it determines that it isin the best interest of the federal government toallow the mortgagor to refinance or to prepay inpart its mortgage loan.

With respect to certain mortgage loansinsured under Section 223(f) of the HousingAct, under certain circumstances FHA lock-out and prepayment limitations may bemore stringent than otherwise provided forin the related note or other evidence of

indebtedness. In addition to FHA’s ability tooverride lockout or prepayment penalty provi-sions with respect to the FHA-insured mortgageloans as described above, investors should notethat with respect to certain mortgage loansinsured under Section 223(f) of the Housing Act,Section 223(f) provides, in relevant part, that therelated note or other evidence of indebtednesscannot be prepaid for a period of five (5) yearsfrom the date of endorsement, unless prior writ-ten approval from FHA is obtained. In manyinstances with respect to such mortgage loansinsured under Section 223(f), the related lendermay have provided for a lockout period lastingfor a term shorter than five (5) years. Therefore,investors should consider that any prepaymentprovisions following a lockout period that isshorter than five (5) years may not be effective ifFHA approval is not obtained.

Holders entitled to prepayment penaltiesmay not receive them. Prepayment penaltiesreceived by the trustee will be distributed toClass ID as further described in this Supplement.Ginnie Mae, however, does not guarantee thatmortgagors will in fact pay any prepaymentpenalties or that such prepayment penalties willbe received by the trustee. Accordingly, holdersof the class entitled to receive prepayment penal-ties will receive them only to the extent that thetrustee receives them. Moreover, even if thetrustee distributes prepayment penalties to theholders of that class, the additional amounts maynot offset the reduction in yield caused by thecorresponding prepayments.

The securities may not be a suitable invest-ment for you. The securities, in particular,Classes AN, AQ, AT, AU, AV, AW and AY, theinterest only, accrual and residual classes, are notsuitable investments for all investors. Only“accredited investors,” as defined in Rule 501(a)of Regulation D of the Securities Act of 1933,who have substantial experience in mortgage-backed securities and are capable of under-standing the risks should invest in the securities.

In addition, although the sponsor intends tomake a market for the purchase and sale of thesecurities after their initial issuance, it has noobligation to do so. There is no assurance that a

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secondary market will develop, that any secon-dary market will continue, or that the price atwhich you can sell an investment in any classwill enable you to realize a desired yield on thatinvestment.

You will bear the market risks of your invest-ment. The market values of the classes are likelyto fluctuate. These fluctuations may be significantand could result in significant losses to you.

The secondary markets for mortgage-relatedsecurities have experienced periods of illiquidityand can be expected to do so in the future. Illi-quidity can have a severely adverse effect on theprices of classes that are especially sensitive toprepayment or interest rate risk or that havebeen structured to meet the investment require-ments of limited categories of investors.

The residual securities may experience significantadverse tax timing consequences. Accordingly,you are urged to consult tax advisors and toconsider the after-tax effect of ownership of aresidual security and the suitability of the residual

securities to your investment objectives. See“Certain United States Federal Income Tax Con-sequences” in this Supplement and in the Multi-family Base Offering Circular.

You are encouraged to consult advisors regard-ing the financial, legal, tax and other aspects ofan investment in the securities. You should notpurchase the securities of any class unless youunderstand and are able to bear the prepayment,yield, liquidity and market risks associated withthat class.

The actual prepayment rates of the under-lying mortgage loans will affect theweighted average lives and yields of yoursecurities. The yield and decrement tables inthis supplement are based on assumed prepay-ment rates. It is highly unlikely that the under-lying mortgage loans will prepay at any of theprepayment rates assumed in this supplement, orat any constant prepayment rate. As a result, theyields on your securities could be lower thanyou expected.

THE GINNIE MAE MULTIFAMILY CERTIFICATES

General

The Sponsor intends to acquire the Ginnie Mae Multifamily Certificates in privately negotiated trans-actions prior to the Closing Date and to sell them to the Trust according to the terms of aTrust Agreement between the Sponsor and the Trustee. The Sponsor will make certain representationsand warranties with respect to the Ginnie Mae Multifamily Certificates.

The Ginnie Mae Multifamily Certificates

The Ginnie Mae Multifamily Certificates are guaranteed by Ginnie Mae pursuant to its Ginnie Mae IProgram. Each Mortgage Loan underlying a Ginnie Mae Multifamily Certificate bears interest at a Mort-gage Rate that is greater than the related Certificate Rate.

For each Mortgage Loan underlying a Ginnie Mae Multifamily Certificate, the difference between(a) the Mortgage Rate and (b) the related Certificate Rate is used to pay the servicer of the MortgageLoan a monthly fee for servicing the Mortgage Loan and to pay Ginnie Mae a fee for its guarantee of therelated Ginnie Mae Multifamily Certificate (together, the “Servicing and Guaranty Fee Rate”). The perannum rate used to calculate these fees for the Mortgage Loans in the Trust is shown on Exhibit A tothis Supplement.

The Ginnie Mae Multifamily Certificates included in the Trust consist of (i) Ginnie Mae ConstructionLoan Certificates issued during the construction phase of a multifamily project, which are redeemablefor Ginnie Mae Project Loan Certificates (the “Trust CLCs”) and (ii) Ginnie Mae Project Loan Certificates

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deposited into the Trust on the Closing Date or issued upon conversion of a Trust CLC (collectively, the“Trust PLCs”).

The Trust CLCs

Each Trust CLC is based on and backed by a single Mortgage Loan secured by a multifamily projectunder construction and insured by FHA pursuant to an FHA Insurance Program described under “FHAInsurance Programs” in this Supplement. Ginnie Mae Construction Loan Certificates are generally issuedmonthly by the related Ginnie Mae Issuer as construction progresses on the related multifamily projectand as advances are insured by FHA. Prior to the issuance of Ginnie Mae Construction Loan Certificates,the Ginnie Mae Issuer must provide Ginnie Mae with supporting documentation regarding advancesand disbursements on the Mortgage Loan and must satisfy the prerequisites for issuance as described inChapter 32 of the MBS Guide. Each Ginnie Mae Construction Loan Certificate may be redeemed for apro rata share of a Ginnie Mae Project Loan Certificate that bears the same interest rate as the GinnieMae Construction Loan Certificate.

The original maturity of a Ginnie Mae Construction Loan Certificate is at least 200% of the con-struction period anticipated by FHA for the multifamily project. The stated maturity of the Ginnie MaeConstruction Loan Certificates may be extended after issuance at the request of the related Ginnie MaeIssuer with the prior written approval of Ginnie Mae. Prior to approving any extension request, GinnieMae requires that the Contracted Security Purchaser, the entity bound under contract with the relatedGinnie Mae Issuer to purchase all of the Ginnie Mae Construction Loan Certificates related to a particularmultifamily project, consent to the extension of the term to maturity. The Sponsor, as the ContractedSecurity Purchaser of the Trust CLCs and of any previously issued or hereafter existing Ginnie MaeConstruction Loan Certificates relating to the Trust CLCs identified in Exhibit A to this Supplement (the“Sponsor CLCs”), has waived its right and the right of all future holders of the Sponsor CLCs, includingthe Trustee, as the assignee of the Sponsor’s rights in the Trust CLCs, to withhold consent to anyextension requests, provided that the length of the extension does not, in combination with any pre-viously granted extensions related thereto, exceed the term of the underlying Mortgage Loan insured byFHA. The waiver effected by the Sponsor, will effectively permit the related Ginnie Mae Issuer to extendthe maturity of the Ginnie Mae CLCs in its sole discretion, subject only to the prior written approval ofGinnie Mae.

Each Trust CLC will provide for the payment to the Trust of monthly payments of interest equal toa pro rata share of the interest payments on the underlying Mortgage Loan, less applicable servicing andguaranty fees. The Trust will not be entitled to receive any payments of principal collected on therelated Mortgage Loan as long as the Trust CLC is outstanding. During such period any prepaymentsand other recoveries of principal (other than proceeds from the liquidation of the Mortgage Loan) orany Prepayment Penalties on the underlying Mortgage Loan received by the Ginnie Mae Issuer will bedeposited into a non-interest bearing escrow account (the “P&I Custodial Account”). Any such amountswill be held for distribution to the Trust (unless otherwise negotiated between the Ginnie Mae Issuerand the Contracted Security Purchaser) on the earliest of (i) the liquidation of the Mortgage Loan, (ii) atthe related Ginnie Mae Issuer’s option, either (a) the first Ginnie Mae Certificate Payment Date of theGinnie Mae Project Loan Certificate following the conversion of the Ginnie Mae Construction LoanCertificate or (b) the date of conversion of the Ginnie Mae Construction Loan Certificate to a Ginnie MaeProject Loan Certificate, and (iii) the applicable Maturity Date. However, the Holders of the Securitieswill not receive any such amounts until the next Distribution Date and will not be entitled to receiveany interest on such amounts.

At any time following the final endorsement of the underlying Mortgage Loan by FHA, prior to theMaturity Date and upon satisfaction of the prerequisites for conversion outlined in Chapter 32 of the

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MBS Guide, Ginnie Mae Construction Loan Certificates will be redeemed for Ginnie Mae Project LoanCertificates. The Ginnie Mae Project Loan Certificates will be issued at the identical interest rate as theGinnie Mae Construction Loan Certificates. The aggregate principal amount of the Ginnie Mae ProjectLoan Certificates may be less than or equal to the aggregate amount of advances that has been dis-bursed and insured on the Mortgage Loan underlying the related Ginnie Mae Construction Loan Certifi-cates. Any difference between the principal balance of the Ginnie Mae Construction Loan Certificatesand the principal balance of the Ginnie Mae Project Loan Certificates issued at conversion will be dis-bursed to the holders of the Ginnie Mae Construction Loan Certificates as principal upon conversion.

The Trust PLCs

Each Trust PLC will be based on and backed by one or more multifamily Mortgage Loans with anoriginal term to maturity of generally no more than 40 years.

Each Trust PLC will provide for the payment to the registered holder of that Trust PLC of monthlypayments of principal and interest equal to the aggregate amount of the scheduled monthly principaland interest payments on the Mortgage Loans underlying that Trust PLC, less applicable servicing andguaranty fees. In addition, each such payment will include any prepayments and other unscheduledrecoveries of principal of, and any Prepayment Penalties on, the underlying Mortgage Loans to theextent received by the Ginnie Mae Issuer during the month preceding the month of the payment.

The Mortgage Loans

Each Ginnie Mae Multifamily Certificate represents a beneficial interest in one or more MortgageLoans.

One hundred fifty (150) Mortgage Loans will underlie the Ginnie Mae Multifamily Certificates,which as of the Cut-off Date, consist of one hundred forty-seven (147) Mortgage Loans that underlie theTrust PLCs (the “Trust PLC Mortgage Loans”) and three (3) Mortgage Loans that underlie the Trust CLCs(the “Trust CLC Mortgage Loans”).

These Mortgage Loans have an aggregate balance of approximately $748,535,961 as of the Cut-offDate, after giving effect to all payments of principal due on or before that date, which consist ofapproximately $697,121,294 Trust PLC Mortgage Loans and approximately $51,414,667 Trust CLC Mort-gage Loans.

The Mortgage Loans have, on a weighted average basis, the other characteristics set forth in theTerms Sheet under “Certain Characteristics of the Ginnie Mae Multifamily Certificates and the RelatedMortgage Loans Underlying the Trust Assets” and, on an individual basis, the characteristics described inExhibit A to this Supplement. They also have the general characteristics described below. The MortgageLoans consist of first lien and second lien, multifamily, fixed rate mortgage loans that are secured by alien on the borrower’s fee simple estate in a multifamily property consisting of five or more dwellingunits or nursing facilities and guaranteed by Section 538 or insured by FHA or coinsured by FHA andthe related mortgage lender. See “The Ginnie Mae Multifamily Certificates — General” in the MultifamilyBase Offering Circular.

FHA Insurance Programs

FHA multifamily insurance programs generally are designed to assist private and public mortgagorsin obtaining financing for the construction, purchase or rehabilitation of multifamily housing pursuant tothe National Housing Act of 1934 (the “Housing Act”). Mortgage Loans are provided by FHA-approved

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institutions, which include mortgage banks, commercial banks, savings and loan associations, trustcompanies, insurance companies, pension funds, state and local housing finance agencies and certainother approved entities. Mortgage Loans insured under the programs described below will have suchmaturities and amortization features as FHA may approve, provided that generally the minimum mort-gage loan term will be at least ten years and the maximum mortgage loan term will not exceed thelesser of 40 years and 75 percent of the estimated remaining economic life of the improvements on themortgaged property. Tenant eligibility for FHA-insured projects generally is not restricted by income,except for projects as to which rental subsidies are made available with respect to some or all the unitstherein or to specified tenants.

The following is a summary of the various FHA insurance programs under which certain of theMortgage Loans are insured. To the extent a Mortgage Loan is insured under multiple FHA insuranceprograms, you should read each applicable FHA insurance program description.

Section 207 (Mortgage Insurance for Multifamily Housing). Section 207 of the Housing Act pro-vides for federal insurance of mortgage loans originated by FHA-approved lenders in connection withthe construction or substantial rehabilitation of multifamily housing projects, which includes manufac-tured home parks.

Section 220 (Urban Renewal Mortgage Insurance). Section 220 of the Housing Act provides forfederal insurance of mortgage loans on multifamily rental projects located in federally aided urbanrenewal areas or in areas having a local redevelopment or urban renewal plan certified by FHA. Themortgage loans may finance the rehabilitation of existing salvable housing (including the refinancing ofexisting loans) or new construction in targeted areas. The purpose of Section 220 is to encourage qualityrental housing in urban areas targeted for overall revitalization.

Section 221(d) (Housing for Moderate Income and Displaced Families). Section 221(d)(4) of theHousing Act provides for mortgage insurance to assist private industry in the construction or substantialrehabilitation of rental and cooperative housing for low- and moderate-income families and families thathave been displaced as a result of urban renewal, governmental actions or disaster.

Section 223(a)(7) (Refinancing of FHA-Insured Mortgages). Section 223(a)(7) of the Housing Actpermits FHA to refinance existing insured mortgage loans under any section or title of the Housing Act.Such refinancing results in prepayment of the existing insured mortgage. The new, refinanced mortgageloan is limited to the original principal amount of the existing mortgage loan and the unexpired term ofthe existing mortgage loan plus 12 years.

Section 223(f) (Purchase or Refinancing of Existing Projects). Section 223(f) of the Housing Actprovides for federal insurance of mortgage loans originated by FHA-approved lenders in connectionwith the purchase or refinancing of existing multifamily housing complexes, hospitals and nursinghomes that do not require substantial rehabilitation. The principal objective of the Section 223(f) pro-gram is to permit the refinancing of mortgage loans to provide for a lower debt service or the purchaseof existing properties in order to preserve an adequate supply of affordable rental housing. Such proj-ects may have been financed originally with conventional or FHA-insured mortgage loans.

Section 231 (Mortgage Insurance for Rental Housing for the Elderly). Section 231 of the Housing Actprovides for insurance of mortgage loans to facilitate the construction and substantial rehabilitation ofmultifamily rental housing for elderly (62 or older) or disabled persons. The mortgage insurance may beused to finance the construction and substantial rehabilitation of detached, semi-detached, walk-up orelevator type rental housing designed specifically for elderly or disabled individuals consisting of 8 or

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more dwelling units. Section 231 was designed to increase the supply of rental housing specifically forthe use and occupancy of elderly and/or disabled persons.

Section 232 (Mortgage Insurance for Nursing Homes, Immediate Care Facilities and Board andCare Homes). Section 232 of the Housing Act provides for FHA insurance of private constructionmortgage loans to finance new or rehabilitated nursing homes, intermediate care facilities, board andcare homes, assisted living for the frail or elderly or allowable combinations thereof, including equip-ment to be used in their operation. Section 232 also provides for supplemental loans to finance thepurchase and installation of fire safety equipment in these facilities.

Section 241 (Supplemental Loans for Multifamily Projects). Section 241(a) of the Housing Act pro-vides for FHA insurance to finance property improvements, energy-conserving improvements orsupplemental increases to any FHA-insured multifamily loan. The overall purpose of the Section 241loan program is to provide a project with a means to remain competitive, to extend its economic lifeand to finance the replacement of obsolete equipment without the refinancing of the existing mortgage.

Section 538 Guarantee Program

The Section 538 Guaranteed Rural Rental Housing Program (“Section 538”) is under the UnitedStates Department of Agriculture Rural Development (“Rural Development”). See “The Ginnie MaeMultifamily Certificates — Section 538 Guarantee Program” in the Multifamily Base Offering Circular.

The following is a summary of Section 538 under which certain of the Mortgage Loans are guaran-teed.

Section 538. Section 538 was established pursuant to Title V of the Housing Act. Section 538 isdesigned to increase the supply of affordable rural rental housing, through the use of loan guaranteesthat encourage partnerships between Rural Development, private lenders and public agencies.

Under Section 515 of Title V of the Housing Act, Rural Development is authorized to make directloans secured by multifamily properties with respect to which the tenants may include very low-, low-and moderate-income families, elderly persons and persons with handicaps and disabilities. Under Sec-tion 538, Rural Development subsequently may guarantee new loans, secured by the same properties,made to revitalize the properties.

Certain Additional Characteristics of the Mortgage Loans

Mortgage Rates; Calculations of Interest. The Mortgage Loans bear interest at Mortgage Rates thatwill remain fixed for their remaining terms. All of the Mortgage Loans accrue interest on the basis of a360-day year consisting of twelve 30-day months. See “Characteristics of the Ginnie Mae MultifamilyCertificates and the Related Mortgage Loans” in Exhibit A to this Supplement.

Due Dates. Monthly payments on the Mortgage Loans are due on the first day of each month.

Amortization. The Trust PLC Mortgage Loans are generally fully-amortizing over their remainingterms to stated maturity. However, certain of the Trust PLC Mortgage Loans may amortize based on theircontractual payments to stated maturity, at which time the unpaid principal balance plus accrued inter-est thereon is due.

Three of the Trust CLC Mortgage Loans have begun to amortize as of the Cut-off Date. However,regardless of the scheduled amortization of Trust CLC Mortgage Loans, the Trust will not be entitled toreceive any principal payments with respect to any Trust CLC Mortgage Loans until the earliest of (i) theliquidation of the Mortgage Loan, (ii) at the related Ginnie Mae Issuer’s option, either (a) the first Ginnie

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Mae Certificate Payment Date of the Ginnie Mae Project Loan Certificate following the conversion of theGinnie Mae Construction Loan Certificate or (b) the date of conversion of the Ginnie Mae ConstructionLoan Certificate to a Ginnie Mae Project Loan Certificate, and (iii) the applicable Maturity Date. TheGinnie Mae Issuer will deposit any principal payments that it receives in connection with any Trust CLCinto the related P&I Custodial Account. The Trust will not be entitled to recover any interest thereon.

Certain of the Mortgage Loans may provide that, if the related borrower makes a partial principalprepayment, such borrower will not be in default if it fails to make any subsequent scheduled paymentof principal provided that such borrower continues to pay interest in a timely manner and the unpaidprincipal balance of such Mortgage Loan at the time of such failure is at or below what it would other-wise be in accordance with its amortization schedule if such partial principal prepayment had not beenmade. Under certain circumstances, the Mortgage Loans also permit the reamortization thereof ifprepayments are received as a result of condemnation or insurance payments with respect to the relatedMortgaged Property.

Level Payments. Although the Mortgage Loans (other than the Mortgage Loans designated by PoolNumbers AB1211, 728775 and 768204) currently have amortization schedules that provide for levelmonthly payments, the amortization schedules of substantially all of the FHA-insured Mortgage Loansare subject to change upon the approval of FHA that may result in non-level payments.

In the case of Pool Number AB1211, the principal and interest payment scheduled to be made onthe first business day of each month is as follows:

From October 2013 through, and including, March 2015 . . . . . . . . . . . . . . . . . $188,793.20From April 2015 through, and including, November 2016 . . . . . . . . . . . . . . $179,769.66From December 2016 through, and including, February 2017 . . . . . . . . . . . . . $178,831.02From March 2017 through, and including, November 2017 . . . . . . . . . . . . . . . $177,784.06From December 2017 through, and including, June 2021 . . . . . . . . . . . . . . . . $176,078.20From July 2021 through, and including, January 2023 . . . . . . . . . . . . . . . . . . . $174,849.62From February 2023 through, and including, November 2047 . . . . . . . . . . . . $174,287.91In December 2047 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . The remaining balance of

all unpaid principal plusaccrued interest thereon.

In the case of Pool Number 728775, the principal and interest payment scheduled to be made onthe first business day of each month is as follows:

From October 2013 through, and including, July 2024 . . . . . . . . . . . . . . . . . . $4,767.76From August 2024 through, and including, June 2052 . . . . . . . . . . . . . . . . . . . $3,811.37In July 2052 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . The remaining balance of

all unpaid principal plusaccrued interest thereon.

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In the case of Pool Number 768204, the principal and interest payment scheduled to be made onthe first business day of each month is as follows:

From October 2013 through, and including, February 2018 . . . . . . . . . . . . $11,168.79From March 2018 through, and including, February 2019 . . . . . . . . . . . . . $11,112.19From March 2019 through, and including, February 2020 . . . . . . . . . . . . . $11,055.07From March 2020 through, and including, February 2021 . . . . . . . . . . . . . $10,998.12From March 2021 through, and including, February 2022 . . . . . . . . . . . . . $10,941.36From March 2022 through, and including, February 2023 . . . . . . . . . . . . . $10,884.76From March 2023 through, and including, January 2053 . . . . . . . . . . . . . . $9,398.01In February 2053 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . The remaining balance of

all unpaid principal plusaccrued interest thereon.

Furthermore, in the absence of a change in the amortization schedule of the Mortgage Loans, Mort-gage Loans that provide for level monthly payments may still receive non-level payments as a result ofthe fact that, at any time:

• FHA may permit any FHA-insured Mortgage Loan to be refinanced or prepaid without regard toany lockout period, statutory prepayment prohibition period or Prepayment Penalty; and

• condemnation of, or occurrence of a casualty loss on, the Mortgaged Property securing anyMortgage Loan or the acceleration of payments due under any Mortgage Loan by reason of adefault may result in prepayment.

“Due-on-Sale” Provisions. The Mortgage Loans do not contain “due-on-sale” clauses restrictingsale or other transfer of the related Mortgaged Property. Any transfer of the Mortgaged Property is sub-ject to HUD review and approval under the terms of HUD’s Regulatory Agreement with the owner,which is incorporated by reference into the mortgage.

Prepayment Restrictions. Certain of the Mortgage Loans have lockout provisions that prohibitvoluntary prepayment for a number of years following origination. These Mortgage Loans have remain-ing lockout terms that range from 0 to 22 months. The Mortgage Loans have a weighted averageremaining lockout term of approximately 4 months. Certain of the Mortgage Loans are insured underFHA insurance program Section 223(f) which, with respect to certain mortgage loans insured there-under, prohibits prepayments for a period of five (5) years from the date of endorsement, regardless ofany applicable lockout periods associated with such mortgage loans. The enforceability of these lockoutprovisions under certain state laws is unclear.

The Mortgage Loans have a period (a “Prepayment Penalty Period”) during which voluntaryprepayments must be accompanied by a prepayment penalty equal to a specified percentage of theprincipal amount of the Mortgage Loan being prepaid (each, a “Prepayment Penalty”). Each PrepaymentPenalty Period will follow the termination of the applicable lockout period, or, if no lockout periodapplies, the applicable Issue Date. See “Characteristics of the Ginnie Mae Multifamily Certificates and theRelated Mortgage Loans” in Exhibit A to this Supplement.

Exhibit A to this Supplement sets forth, for each Mortgage Loan, as applicable, a description of therelated Prepayment Penalty, the period during which the Prepayment Penalty applies and the firstmonth in which the borrower may prepay the Mortgage Loan.

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Notwithstanding the foregoing, FHA guidelines require all of the FHA-insured Mortgage Loans toinclude a provision that allows FHA to override any lockout and/or Prepayment Penalty provisions ifFHA determines that it is in the best interest of the federal government to allow the mortgagor torefinance or prepay the FHA-insured Mortgage Loan without restrictions or penalties and any suchpayment will avoid or mitigate an FHA insurance claim. Additionally, in some circumstances FHA maypermit an FHA-insured Mortgage Loan to be prepaid without regard to any statutory prepayment pro-hibited period.

Notwithstanding the foregoing, the Trust will not be entitled to receive any principal prepaymentsor any applicable Prepayment Penalties with respect to the Trust CLC Mortgage Loans until the earliestof (i) the liquidation of such Mortgage Loans, (ii) at the related Ginnie Mae Issuer’s option, either (a) thefirst Ginnie Mae Certificate Payment Date of the Ginnie Mae Project Loan Certificate following the con-version of the Ginnie Mae Construction Loan Certificate or (b) the date of conversion of the Ginnie MaeConstruction Loan Certificate to a Ginnie Mae Project Loan Certificate, and (iii) the applicable MaturityDate. However, the Holders of the Securities will not receive any such amounts until the next Dis-tribution Date and will not be entitled to receive any interest on such amount.

Coinsurance. Certain of the Mortgage Loans may be federally insured under FHA coinsuranceprograms that provide for the retention by the mortgage lender of a portion of the mortgage insurancerisk that otherwise would be assumed by FHA under the applicable FHA insurance program. As part ofsuch coinsurance programs, FHA delegates to mortgage lenders approved by FHA for participation insuch coinsurance programs certain underwriting functions generally performed by FHA. Accordingly,there can be no assurance that such mortgage loans were underwritten in conformity with FHA under-writing guidelines applicable to mortgage loans that were solely federally insured or that the default riskwith respect to coinsured mortgage loans is comparable to that of FHA-insured mortgage loans gen-erally. As a result, there can be no assurance that the likelihood of future default or the rate of prepay-ment on coinsured Mortgage Loans will be comparable to that of FHA-insured mortgage loans generally.

The Trustee Fee

On each Distribution Date, the Trustee will retain a fixed percentage of all principal and interestdistributions received on the Trust Assets in payment of the Trustee Fee.

GINNIE MAE GUARANTY

The Government National Mortgage Association (“Ginnie Mae”), a wholly-owned corporateinstrumentality of the United States of America within HUD, guarantees the timely payment of principaland interest on the Securities. The General Counsel of HUD has provided an opinion to the effect thatGinnie Mae has the authority to guarantee multiclass securities and that Ginnie Mae guaranties will con-stitute general obligations of the United States, for which the full faith and credit of the United States ispledged. See “Ginnie Mae Guaranty” in the Multifamily Base Offering Circular. Ginnie Mae does notguarantee the payment of any Prepayment Penalties.

DESCRIPTION OF THE SECURITIES

General

The description of the Securities contained in this Supplement is not complete and is subject to,and is qualified in its entirety by reference to, all of the provisions of the Trust Agreement. See“Description of the Securities” in the Multifamily Base Offering Circular.

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Form of Securities

Each Class of Securities other than the Residual Securities initially will be issued and maintained inbook-entry form and may be transferred only on the Fedwire Book-Entry System. Beneficial Owners ofBook-Entry Securities will ordinarily hold these Securities through one or more financial intermediaries,such as banks, brokerage firms and securities clearing organizations that are eligible to maintain book-entry accounts on the Fedwire Book-Entry System. By request accompanied by the payment of a trans-fer fee of $25,000 per Certificated Security to be issued, a Beneficial Owner may receive a RegularSecurity in certificated form.

The Residual Securities will not be issued in book-entry form but will be issued in fully registered,certificated form and may be transferred or exchanged, subject to the transfer restrictions applicable toResidual Securities set forth in the Trust Agreement, at the Corporate Trust Office of the Trustee locatedat Wells Fargo Bank, N.A., 150 East 42nd Street, 40th floor, New York, NY 10017, Attention: TrustAdministrator Ginnie Mae 2013-141. The Trustee may be contacted by telephone at (917) 260-1522 andby fax at (917) 260-1594. See “Description of the Securities — Forms of Securities; Book-Entry Procedures”in the Multifamily Base Offering Circular.

Each Class (other than the Increased Minimum Denomination Classes) will be issued in minimumdollar denominations of initial principal balance of $1,000 and integral multiples of $1 in excess of$1,000. The Increased Minimum Denomination Classes will be issued in minimum denominations thatequal $100,000 in initial principal or notional balance.

Distributions

Distributions on the Securities will be made on each Distribution Date, as specified under “TermsSheet — Distribution Date” in this Supplement. On each Distribution Date for a Security, or in the caseof the Certificated Securities, on the first Business Day after the related Distribution Date, the Dis-tribution Amount will be distributed to the Holders of record as of the related Record Date. BeneficialOwners of Book-Entry Securities will receive distributions through credits to accounts maintained fortheir benefit on the books and records of the appropriate financial intermediaries. Holders of Certifi-cated Securities will receive distributions by check or, subject to the restrictions set forth in the Multi-family Base Offering Circular, by wire transfer. See “Description of the Securities — Distributions” and“— Method of Distributions” in the Multifamily Base Offering Circular.

Interest Distributions

The Interest Distribution Amount will be distributed on each Distribution Date to the Holders of allClasses of Securities entitled to distributions of interest.

• Interest will be calculated on the basis of a 360-day year consisting of twelve 30-day months.

• Interest distributable on any Class for any Distribution Date will consist of 30 days’ interest on itsClass Principal Balance (or Class Notional Balance) as of the related Record Date.

• Investors can calculate the amount of interest to be distributed (or accrued, in the case of theAccrual Class) on each Class of Securities for any Distribution Date by using the Class Factorspublished in the preceding month. See “— Class Factors” below.

Categories of Classes

For purposes of interest distributions, the Classes will be categorized as shown under “InterestType” on the front cover and on Schedule I of this Supplement. The abbreviations used in this Supple-

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ment to describe the interest entitlements of the Classes are explained under “Class Types” in Appen-dix I to the Multifamily Base Offering Circular.

Accrual Period

The Accrual Period for each Regular and MX Class is the calendar month preceding the relatedDistribution Date.

Fixed Rate Classes

The Fixed Rate Classes will bear interest at the per annum Interest Rates shown on the front coveror on Schedule I of this Supplement.

Weighted Average Coupon Classes

The Weighted Average Coupon Classes will bear interest as shown under “Terms Sheet — InterestRates” in this Supplement.

The Trustee’s calculation of the Interest Rates will be final except in the case of clear error. Invest-ors can obtain Interest Rates for the current and preceding Accrual Periods from Ginnie Mae’s MulticlassSecurities e-Access located on Ginnie Mae’s website (“e-Access”), or by calling the Information Agent at(800) 234-GNMA.

Accrual Class

Class Z is an Accrual Class. Interest will accrue on the Accrual Class and be distributed as describedunder “Terms Sheet — Accrual Class” in this Supplement.

Principal Distributions

The Adjusted Principal Distribution Amount and the Accrual Amount will be distributed to theHolders entitled thereto as described above under “Terms Sheet — Allocation of Principal” in this Sup-plement.

Investors can calculate the amount of principal to be distributed with respect to any DistributionDate by using the Class Factors published in the preceding and current months. See “— Class Factors”below.

Categories of Classes

For purposes of principal distributions, the Classes will be categorized as shown under “PrincipalType” on the front cover and on Schedule I of this Supplement. The abbreviations used in this Supple-ment to describe the principal entitlements of the Classes are explained under “Class Types” in Appen-dix I to the Multifamily Base Offering Circular.

Notional Classes

The Notional Classes will not receive principal distributions. For convenience in describing interestdistributions, the Notional Classes will have the original Class Notional Balances shown on the frontcover and on Schedule I of this Supplement. The Class Notional Balances will be reduced as shownunder “Terms Sheet — Notional Classes” in this Supplement.

Prepayment Penalty Distributions

The Trustee will distribute any Prepayment Penalties that are received by the Trust during therelated interest Accrual Period as described in “Terms Sheet — Allocation of Prepayment Penalties” inthis Supplement.

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Residual Securities

The Class RR Securities will represent the beneficial ownership of the Residual Interest in the Issu-ing REMIC and the beneficial ownership of the Residual Interest in the Pooling REMIC, as described in“Certain United States Federal Income Tax Consequences” in the Multifamily Base Offering Circular. TheClass RR Securities have no Class Principal Balance and do not accrue interest. The Class RR Securitieswill be entitled to receive the proceeds of the disposition of any assets remaining in the Trust REMICsafter the Class Principal Balance or Class Notional Balance of each Class of Regular Securities has beenreduced to zero. However, any remaining proceeds are not likely to be significant. The Residual Secu-rities may not be transferred to a Plan Investor, a Non-U.S. Person or a Disqualified Organization.

Class Factors

The Trustee will calculate and make available for each Class of Securities, no later than the daypreceding the Distribution Date, the factor (carried out to eight decimal places) that when multiplied bythe Original Class Principal Balance (or original Class Notional Balance) of that Class, determines theClass Principal Balance (or Class Notional Balance) after giving effect to the distribution of principal tobe made on the Securities (and any addition to the Class Principal Balance of the Accrual Class) or anyreduction of Class Notional Balance on that Distribution Date (each, a “Class Factor”).

• The Class Factor for any Class of Securities for each month following the issuance of the Secu-rities will reflect its remaining Class Principal Balance (or Class Notional Balance) after givingeffect to any principal distribution (or addition to principal) to be made or any reduction of ClassNotional Balance on the Distribution Date occurring in that month.

• The Class Factor for each Class for the month of issuance is 1.00000000.

• The Class Factors for the MX Classes and the Classes of REMIC Securities that are exchangeablefor the MX Classes will be calculated assuming that the maximum possible amount of each Classis outstanding at all times, regardless of any exchanges that may occur.

• Based on the Class Factors published in the preceding and current months (and Interest Rates),investors in any Class (other than the Accrual Class) can calculate the amount of principal andinterest to be distributed to that Class, and investors in the Accrual Class can calculate the totalamount of principal to be distributed to (or interest to be added to the Class Principal Balanceof) that Class on the Distribution Date in the current month.

• Investors may obtain current Class Factors on e-Access.

See “Description of the Securities — Distributions” in the Multifamily Base Offering Circular.

Termination

The Trustee, at its option, may purchase or cause the sale of the Trust Assets and thereby terminatethe Trust on any Distribution Date on which the aggregate of the Class Principal Balances of the Secu-rities is less than 1% of the aggregate Original Class Principal Balances of the Securities. On any Dis-tribution Date upon the Trustee’s determination that the REMIC status of any Trust REMIC has been lostor that a substantial risk exists that this status will be lost for the then current taxable year, the Trusteewill terminate the Trust and retire the Securities.

Upon any termination of the Trust, the Holder of any outstanding Security (other than a Residual orNotional Class Security) will be entitled to receive that Holder’s allocable share of the Class PrincipalBalance of that Class plus any accrued and unpaid interest thereon at the applicable Interest Rate, andany Holder of any outstanding Notional Class Security will be entitled to receive that Holder’s allocable

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share of any accrued and unpaid interest thereon at the applicable Interest Rate. The Residual Holderswill be entitled to their pro rata share of any assets remaining in the Trust REMICs after payment in fullof the amounts described in the foregoing sentence. However, any remaining assets are not likely to besignificant.

Modification and Exchange

All or a portion of the Classes of REMIC Securities specified on the front cover may be exchangedfor a proportionate interest in the related MX Class shown on Schedule I to this Supplement. Similarly,all or a portion of the related MX Class may be exchanged for proportionate interests in the relatedClasses of REMIC Securities. This process may occur repeatedly.

Each exchange may be effected only in proportions that result in the principal and interest entitle-ments of the Securities received being equal to the entitlements of the Securities surrendered.

Each MX Class that is a Weighted Average Coupon Class will accrue interest as described under“Terms Sheet — Interest Rates” in this Supplement. In the event that the Interest Rate of Classes AN, AQ,AT, AU, AV or AW will equal or exceed 1,200% per annum for any Accrual Period, the Trustee will,prior to the close of business on the last Business Day of the calendar month immediately preceding therelated Distribution Date, effect a mandatory exchange of such MX Class for its related REMIC Securities.In the event that the Class Principal Balance of Classes AN, AQ, AT, AU, AV, AW or AY or the ClassNotional Balance of Classes IH or IJ, will be reduced to zero on any Distribution Date, the Trustee will,prior to the related Distribution Date on which the Class Principal Balance or Class Notional Balance, asapplicable, of such MX Class would be reduced to zero, effect a mandatory exchange of such MX Classfor its related REMIC Securities. Thereafter, no further exchanges of such REMIC Securities will bepermitted.

A Beneficial Owner proposing to effect an exchange must notify the Trustee through the BeneficialOwner’s Book Entry Depository participant. This notice must be received by the Trustee not later thantwo Business Days before the proposed exchange date. The exchange date can be any Business Dayother than the last Business Day of the month. The notice must contain the outstanding principal bal-ance of the Securities to be included in the exchange and the proposed exchange date. The notice isrequired to be delivered to the Trustee by email to GNMAExchange@wellsfargo.com or in writing at itsCorporate Trust Office at 150 East 42nd Street, 40th Floor, New York, NY 10017, Attention: Trust Admin-istrator Ginnie Mae 2013-141. The Trustee may be contacted by telephone at (917) 260-1522 and by faxat (917) 260-1594.

A fee will be payable to the Trustee in connection with each exchange equal to 1/32 of 1% of theoutstanding principal balance (or notional balance) of the Securities surrendered for exchange (but notless than $2,000 or more than $25,000); provided, however, that no fee will be payable in respect of amandatory exchange described above; and provided further, that no fee will be payable in respect of aninterest only security, unless all securities involved in the exchange are interest only securities. If thenotional balance of the interest only securities surrendered exceeds that of the interest only securitiesreceived; the fee will be based on the latter. The fee must be paid concurrently with the exchange.

The first distribution on a REMIC Security or an MX Security received in an exchange will be madeon the Distribution Date in the month following the month of the exchange. The distribution will bemade to the Holder of record as of the Record Date in the month of exchange.

See “Description of the Securities — Modification and Exchange” in the Multifamily Base OfferingCircular.

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YIELD, MATURITY AND PREPAYMENT CONSIDERATIONS

General

The prepayment experience of the Mortgage Loans will affect the Weighted Average Lives of andthe yields realized by investors in the Securities.

• Mortgage Loan principal payments may be in the form of scheduled or unscheduled amor-tization.

• The terms of each Mortgage Loan provide that, following any applicable lockout period andupon payment of any applicable Prepayment Penalty, the Mortgage Loan may be voluntarilyprepaid in whole or in part.

• In addition, in some circumstances FHA may permit an FHA-insured Mortgage Loan to berefinanced or prepaid without regard to any lockout, statutory prepayment prohibition orPrepayment Penalty provisions. See “Characteristics of the Ginnie Mae Multifamily Certificatesand the Related Mortgage Loans” in Exhibit A to this Supplement.

• The condemnation of, or occurrence of a casualty loss on, the Mortgaged Property securing anyMortgage Loan or the acceleration of payments due under the Mortgage Loan by reason ofdefault may also result in a prepayment at any time.

Mortgage Loan prepayment rates are likely to fluctuate over time. No representation is made as tothe expected Weighted Average Lives of the Securities or the percentage of the original unpaid principalbalance of the Mortgage Loans that will be paid to Holders at any particular time. A number of factorsmay influence the prepayment rate.

• While some prepayments occur randomly, the payment behavior of the Mortgage Loans may beinfluenced by a variety of economic, tax, geographic, demographic, legal and other factors.

• These factors may include the age, geographic distribution and payment terms of the MortgageLoans; remaining depreciable lives of the underlying properties; characteristics of the borrowers;amount of the borrowers’ equity; the availability of mortgage financing; in a fluctuating interestrate environment, the difference between the interest rates on the Mortgage Loans and prevailingmortgage interest rates; the extent to which the Mortgage Loans are assumed or refinanced or theunderlying properties are sold or conveyed; changes in local industry and population as theyaffect vacancy rates; population migration; and the attractiveness of other investment alternatives.

• These factors may also include the application of (or override by FHA of) lockout periods, stat-utory prepayment prohibition periods or the assessment of Prepayment Penalties. For a moredetailed description of the lockout and Prepayment Penalty provisions of the Mortgage Loans, see“Characteristics of the Ginnie Mae Multifamily Certificates and the Related Mortgage Loans” inExhibit A to this Supplement.

No representation is made concerning the particular effect that any of these or other factors mayhave on the prepayment behavior of the Mortgage Loans. The relative contribution of these or otherfactors may vary over time.

Notwithstanding the foregoing, the Trust will not be entitled to receive any principal prepaymentsor any applicable Prepayment Penalties with respect to the Trust CLC Mortgage Loans until the earliestof (i) the liquidation of such Mortgage Loans, (ii) at the related Ginnie Mae Issuer’s option, either (a) thefirst Ginnie Mae Certificate Payment Date of the Ginnie Mae Project Loan Certificate following the con-version of the Ginnie Mae Construction Loan Certificate or (b) the date of conversion of the Ginnie Mae

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Construction Loan Certificate to a Ginnie Mae Project Loan Certificate, and (iii) the applicable MaturityDate. However, the Holders of the Securities will not receive any such amounts until the next Dis-tribution Date and will not be entitled to receive any interest on such amounts.

In addition, following any Mortgage Loan default and the subsequent liquidation of the underlyingMortgaged Property, the principal balance of the Mortgage Loan will be distributed through a combina-tion of liquidation proceeds, advances from the related Ginnie Mae Issuer and, to the extent necessary,proceeds of Ginnie Mae’s guaranty of the Ginnie Mae Multifamily Certificates.

• As a result, defaults experienced on the Mortgage Loans will accelerate the distribution of princi-pal of the Securities.

• Under certain circumstances, the Trustee has the option to purchase the Trust Assets, therebyeffecting early retirement of the Securities. See “Description of the Securities — Termination” inthis Supplement.

Assumability

Each Mortgage Loan may be assumed, subject to HUD review and approval, upon the sale of therelated Mortgaged Property. See “Yield, Maturity and Prepayment Considerations — Assumability ofMortgage Loans” in the Multifamily Base Offering Circular.

Final Distribution Date

The Final Distribution Date for each Class, which is set forth on the front cover of this Supplementor on Schedule I to this Supplement, is the latest date on which the related Class Principal Balance orClass Notional Balance will be reduced to zero.

• The actual retirement of any Class may occur earlier than its Final Distribution Date.

• According to the terms of the Ginnie Mae Guaranty, Ginnie Mae will guarantee payment in fullof the Class Principal Balance of each Class of Securities no later than its Final Distribution Date.

Modeling Assumptions

Unless otherwise indicated, the tables that follow have been prepared on the basis of the followingassumptions (the “Modeling Assumptions”), among others:

1. The Mortgage Loans underlying the Trust Assets have the characteristics shown under“Characteristics of the Ginnie Mae Multifamily Certificates and the Related Mortgage Loans” in Exhibit Ato this Supplement.

2. There are no voluntary prepayments during any lockout period. With respect to MortgageLoans insured under FHA insurance program Section 223(f), FHA approves prepayments made by bor-rowers after any applicable lockout period expires to the extent that any statutory prepayment prohib-ition period applies.

3. There are no prepayments on any Trust CLC.

4. With respect to each Trust PLC, the Mortgage Loans prepay at 100% PLD (as defined under“— Prepayment Assumptions” in this Supplement) and, beginning on the applicable Lockout End Dateor, to the extent that no lockout period applies or the remaining lockout period is 0, the Closing Date, atthe constant percentages of CPR (described below) shown in the related table.

5. The Issue Date, Lockout End Date and Prepayment Penalty End Date of each Ginnie Mae Multi-family Certificate is the first day of the month indicated on Exhibit A.

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6. Distributions on the Securities, including all distributions of prepayments on the MortgageLoans, are always received on the 16th day of the month, whether or not a Business Day, commencingin October 2013.

7. One hundred percent (100%) of the Prepayment Penalties are received by the Trustee and dis-tributed to Class ID.

8. A termination of the Trust does not occur.

9. The Closing Date for the Securities is September 30, 2013.

10. No expenses or fees are paid by the Trust other than the Trustee Fee, which is paid asdescribed under “The Ginnie Mae Multifamily Certificates — The Trustee Fee” in this Supplement.

11. Each Trust CLC converts to a Trust PLC on a date on which amortization payments are sched-uled to begin on the related Mortgage Loan.

12. Each Class is held from the Closing Date and is not exchanged in whole or in part includingthat there is no mandatory exchange of Classes AN, AQ, AT, AU, AV, AW, AY, IH, and IJ.

When reading the tables and the related text, investors should bear in mind that the ModelingAssumptions, like any other stated assumptions, are unlikely to be entirely consistent with actualexperience.

• For example, many Distribution Dates will occur on the first Business Day after the 16th day ofthe month, prepayments may not occur during the Prepayment Penalty Period and the Trusteemay cause a termination of the Trust as described under “Description of the Securities —Termination” in this Supplement.

• In addition, distributions on the Securities are based on Certificate Factors, Corrected CertificateFactors and Calculated Certificate Factors, if applicable, which may not reflect actual receipts onthe Trust Assets.

See “Description of the Securities — Distributions” in the Multifamily Base Offering Circular.

Prepayment Assumptions

Prepayments of mortgage loans are commonly measured by a prepayment standard or model. Oneof the models used in this Supplement is the constant prepayment rate (“CPR”) model, which representsan assumed constant rate of voluntary prepayment each month relative to the then outstanding principalbalance of the Mortgage Loans underlying any Trust PLC to which the model is applied. See “Yield,Maturity and Prepayment Considerations — Prepayment Assumption Models” in the Multifamily BaseOffering Circular.

In addition, this Supplement uses another model to measure involuntary prepayments. This modelis the Project Loan Default or PLD model provided by the Sponsor. The PLD model represents anassumed rate of involuntary prepayments each month as specified in the table below (the “PLD ModelRates”), in each case expressed as a per annum percentage of the then-outstanding principal balance ofeach of the Mortgage Loans underlying any Trust PLC in relation to its loan age. For example, 0% PLDrepresents 0% of such assumed rate of involuntary prepayments; 50% PLD represents 50% of suchassumed rate of involuntary prepayments; 100% PLD represents 100% of such assumed rate ofinvoluntary prepayments; and so forth.

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The following PLD model table was prepared on the basis of 100% PLD. Ginnie Mae had no partin the development of the PLD model and makes no representation as to the accuracy or reliability ofthe PLD model.

Project Loan Default

Mortgage Loan Age(in months)(1)

Involuntary PrepaymentDefault Rate(2)

1-12 1.30%13-24 2.4725-36 2.5137-48 2.2049-60 2.1361-72 1.4673-84 1.2685-96 0.8097-108 0.57109-168 0.50169-240 0.25

241-maturity 0.00

(1) For purposes of the PLD model, Mortgage Loan Age means the number of months elapsed sincethe Issue Date indicated on Exhibit A. In the case of any Trust CLC Mortgage Loans, the MortgageLoan Age is the number of months that have elapsed after the expiration of the Remaining InterestOnly Period indicated on Exhibit A.

(2) Assumes that involuntary prepayments start immediately.

The decrement tables set forth below are based on the assumption that the Trust PLC MortgageLoans prepay at the indicated percentages of CPR (the “CPR Prepayment Assumption Rates”) and 100%PLD and that the Trust CLC Mortgage Loans prepay at 0% CPR and 0% PLD until the Trust CLCs convertto Ginnie Mae Project Loan Certificates, after which they prepay at the CPR Prepayment AssumptionRates and 100% PLD. It is unlikely that the Mortgage Loans will prepay at any of the CPRPrepayment Assumption Rates or PLD Model Rates, and the timing of changes in the rate ofprepayments actually experienced on the Mortgage Loans is unlikely to follow the patterndescribed for the CPR Prepayment Assumption Rates or PLD Model Rates.

Decrement Tables

The decrement tables set forth below illustrate the percentage of the Original Class Principal Bal-ance (or, in the case of a Notional Class, the original Class Notional Balance) that would remain out-standing following the distribution made each specified month for each Regular or MX Class, based onthe assumption that the Trust PLC Mortgage Loans prepay at the CPR Prepayment Assumption Rates and100% PLD and the Trust CLC Mortgage Loans prepay at 0% CPR and 0% PLD until the Trust CLCs con-vert to Ginnie Mae Project Loan Certificates, after which they prepay at the CPR Prepayment AssumptionRates and 100% PLD. The percentages set forth in the following decrement tables have been rounded tothe nearest whole percentage (including rounding down to zero).

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The decrement tables also indicate the Weighted Average Life of each Class under each CPR Pre-payment Assumption Rate and the PLD percentage rates indicated above for the Trust PLC MortgageLoans and the Trust CLC Mortgage Loans. The Weighted Average Life of each Class is calculated by:

(a) multiplying the net reduction, if any, of the Class Principal Balance (or the net reduction of theClass Notional Balance, in the case of a Notional Class) from one Distribution Date to the nextDistribution Date by the number of years from the date of issuance thereof to the related Dis-tribution Date,

(b) summing the results, and

(c) dividing the sum by the aggregate amount of the assumed net reductions in principal balanceor notional balance, as applicable, referred to in clause (a).

The Weighted Average Lives are likely to vary, perhaps significantly, from those set forthin the tables below due to the differences between the actual rate of prepayments on the Mort-gage Loans underlying the Ginnie Mae Multifamily Certificates and the Modeling Assumptions.

The information shown for each Notional Class is for illustrative purposes only, as a Notional Classis not entitled to distributions of principal and has no Weighted Average Life. The Weighted AverageLife shown for each Notional Class has been calculated on the assumption that a reduction in theClass Notional Balance thereof is a distribution of principal.

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Percentages of Original Class Principal (or Class Notional) Balancesand Weighted Average Lives

CPR Prepayment Assumption Rates

Classes A, AC, AD, IA, IB and IE Classes AB, AE, AN and IG Classes AG and AQ Classes AH and AT

Distribution Date 0% 5% 15% 25% 40% 0% 5% 15% 25% 40% 0% 5% 15% 25% 40% 0% 5% 15% 25% 40%

Initial Percent . . . . . . . . . 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100September 2014 . . . . . . . 95 90 80 69 53 96 91 82 73 59 96 92 83 74 61 96 92 84 76 63September 2015 . . . . . . . 89 78 57 38 13 90 81 62 45 24 91 82 64 48 27 91 82 66 51 31September 2016 . . . . . . . 83 66 37 13 0 85 70 45 24 0 86 72 48 28 5 87 73 50 31 10September 2017 . . . . . . . 78 56 21 0 0 80 61 31 8 0 81 63 34 13 0 82 65 37 17 0September 2018 . . . . . . . 72 46 8 0 0 76 53 19 0 0 77 56 23 2 0 78 58 27 7 0September 2019 . . . . . . . 68 38 0 0 0 72 46 10 0 0 73 49 15 0 0 75 51 18 0 0September 2020 . . . . . . . 64 31 0 0 0 68 40 3 0 0 70 43 8 0 0 71 45 12 0 0September 2021 . . . . . . . 60 24 0 0 0 65 34 0 0 0 67 37 2 0 0 68 40 6 0 0September 2022 . . . . . . . 57 18 0 0 0 62 28 0 0 0 64 32 0 0 0 66 35 2 0 0September 2023 . . . . . . . 53 13 0 0 0 59 24 0 0 0 61 27 0 0 0 63 31 0 0 0September 2024 . . . . . . . 50 7 0 0 0 56 19 0 0 0 58 23 0 0 0 60 27 0 0 0September 2025 . . . . . . . 46 2 0 0 0 53 15 0 0 0 55 19 0 0 0 57 23 0 0 0September 2026 . . . . . . . 42 0 0 0 0 49 10 0 0 0 52 15 0 0 0 54 19 0 0 0September 2027 . . . . . . . 38 0 0 0 0 46 7 0 0 0 49 11 0 0 0 51 15 0 0 0September 2028 . . . . . . . 35 0 0 0 0 43 3 0 0 0 46 8 0 0 0 48 12 0 0 0September 2029 . . . . . . . 31 0 0 0 0 40 0 0 0 0 43 5 0 0 0 45 9 0 0 0September 2030 . . . . . . . 27 0 0 0 0 36 0 0 0 0 40 2 0 0 0 42 6 0 0 0September 2031 . . . . . . . 23 0 0 0 0 33 0 0 0 0 36 0 0 0 0 39 4 0 0 0September 2032 . . . . . . . 19 0 0 0 0 29 0 0 0 0 33 0 0 0 0 36 1 0 0 0September 2033 . . . . . . . 15 0 0 0 0 26 0 0 0 0 30 0 0 0 0 33 0 0 0 0September 2034 . . . . . . . 12 0 0 0 0 23 0 0 0 0 27 0 0 0 0 30 0 0 0 0September 2035 . . . . . . . 8 0 0 0 0 19 0 0 0 0 23 0 0 0 0 27 0 0 0 0September 2036 . . . . . . . 4 0 0 0 0 16 0 0 0 0 20 0 0 0 0 23 0 0 0 0September 2037 . . . . . . . 0 0 0 0 0 12 0 0 0 0 16 0 0 0 0 20 0 0 0 0September 2038 . . . . . . . 0 0 0 0 0 8 0 0 0 0 13 0 0 0 0 17 0 0 0 0September 2039 . . . . . . . 0 0 0 0 0 4 0 0 0 0 9 0 0 0 0 13 0 0 0 0September 2040 . . . . . . . 0 0 0 0 0 0 0 0 0 0 5 0 0 0 0 10 0 0 0 0September 2041 . . . . . . . 0 0 0 0 0 0 0 0 0 0 2 0 0 0 0 6 0 0 0 0September 2042 . . . . . . . 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 2 0 0 0 0September 2043 . . . . . . . 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0September 2044 . . . . . . . 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0September 2045 . . . . . . . 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0September 2046 . . . . . . . 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0September 2047 . . . . . . . 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0September 2048 . . . . . . . 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0September 2049 . . . . . . . 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0September 2050 . . . . . . . 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0September 2051 . . . . . . . 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0September 2052 . . . . . . . 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0September 2053 . . . . . . . 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0Weighted Average

Life (years) . . . . . . . . . 11.2 5.2 2.5 1.7 1.1 13.0 6.3 3.0 2.0 1.3 13.7 6.9 3.2 2.1 1.4 14.4 7.4 3.5 2.3 1.5

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CPR Prepayment Assumption Rates

Classes AJ and AU Classes AK and AV Classes AL and AW Classes AM, AY, ID, IH and IJ

Distribution Date 0% 5% 15% 25% 40% 0% 5% 15% 25% 40% 0% 5% 15% 25% 40% 0% 5% 15% 25% 40%

Initial Percent . . . . . . . . . 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100September 2014 . . . . . . . 96 92 84 76 64 96 93 85 77 66 97 93 85 78 67 97 93 86 79 68September 2015 . . . . . . . 92 83 67 52 33 92 84 68 54 36 92 84 69 55 38 92 85 70 57 40September 2016 . . . . . . . 87 74 52 34 13 87 75 53 36 16 88 76 55 38 18 88 77 57 41 22September 2017 . . . . . . . 83 66 40 20 1 83 67 42 23 5 84 68 43 25 8 85 70 46 28 12September 2018 . . . . . . . 79 59 30 10 0 80 61 32 13 0 80 62 34 16 1 81 63 37 20 6September 2019 . . . . . . . 76 53 22 3 0 76 55 24 7 0 77 56 26 9 0 78 58 30 14 2September 2020 . . . . . . . 72 47 15 0 0 73 49 18 2 0 74 51 20 5 0 75 53 24 9 0September 2021 . . . . . . . 70 42 10 0 0 71 44 13 0 0 72 46 15 1 0 73 48 19 6 0September 2022 . . . . . . . 67 38 5 0 0 68 40 9 0 0 69 42 11 0 0 70 44 15 3 0September 2023 . . . . . . . 64 33 2 0 0 65 36 5 0 0 66 38 8 0 0 68 40 12 2 0September 2024 . . . . . . . 62 29 0 0 0 63 32 2 0 0 64 34 5 0 0 66 37 9 0 0September 2025 . . . . . . . 59 26 0 0 0 60 28 0 0 0 61 30 3 0 0 63 33 7 0 0September 2026 . . . . . . . 56 22 0 0 0 57 25 0 0 0 59 27 1 0 0 60 30 5 0 0September 2027 . . . . . . . 53 19 0 0 0 55 21 0 0 0 56 24 0 0 0 58 27 3 0 0September 2028 . . . . . . . 50 16 0 0 0 52 18 0 0 0 53 21 0 0 0 55 24 2 0 0September 2029 . . . . . . . 47 13 0 0 0 49 16 0 0 0 51 18 0 0 0 53 22 1 0 0September 2030 . . . . . . . 44 10 0 0 0 46 13 0 0 0 48 16 0 0 0 50 19 0 0 0September 2031 . . . . . . . 42 7 0 0 0 44 11 0 0 0 45 13 0 0 0 48 17 0 0 0September 2032 . . . . . . . 39 5 0 0 0 41 8 0 0 0 42 11 0 0 0 45 15 0 0 0September 2033 . . . . . . . 35 3 0 0 0 38 6 0 0 0 39 9 0 0 0 42 13 0 0 0September 2034 . . . . . . . 33 1 0 0 0 35 4 0 0 0 37 7 0 0 0 40 11 0 0 0September 2035 . . . . . . . 30 0 0 0 0 32 2 0 0 0 34 5 0 0 0 37 9 0 0 0September 2036 . . . . . . . 26 0 0 0 0 29 0 0 0 0 31 3 0 0 0 34 8 0 0 0September 2037 . . . . . . . 23 0 0 0 0 26 0 0 0 0 28 2 0 0 0 31 6 0 0 0September 2038 . . . . . . . 20 0 0 0 0 23 0 0 0 0 25 0 0 0 0 28 5 0 0 0September 2039 . . . . . . . 17 0 0 0 0 19 0 0 0 0 22 0 0 0 0 25 3 0 0 0September 2040 . . . . . . . 13 0 0 0 0 16 0 0 0 0 19 0 0 0 0 22 2 0 0 0September 2041 . . . . . . . 10 0 0 0 0 13 0 0 0 0 15 0 0 0 0 19 1 0 0 0September 2042 . . . . . . . 6 0 0 0 0 9 0 0 0 0 12 0 0 0 0 16 0 0 0 0September 2043 . . . . . . . 3 0 0 0 0 6 0 0 0 0 9 0 0 0 0 13 0 0 0 0September 2044 . . . . . . . 0 0 0 0 0 3 0 0 0 0 6 0 0 0 0 10 0 0 0 0September 2045 . . . . . . . 0 0 0 0 0 0 0 0 0 0 3 0 0 0 0 7 0 0 0 0September 2046 . . . . . . . 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 4 0 0 0 0September 2047 . . . . . . . 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0September 2048 . . . . . . . 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0September 2049 . . . . . . . 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0September 2050 . . . . . . . 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0September 2051 . . . . . . . 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0September 2052 . . . . . . . 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0September 2053 . . . . . . . 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0Weighted Average

Life (years) . . . . . . . . . 15.0 7.9 3.7 2.4 1.6 15.6 8.4 4.0 2.6 1.7 16.1 8.8 4.2 2.8 1.8 16.9 9.6 4.7 3.1 2.0

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CPR Prepayment Assumption Rates

Classes B and IC Class C Class D Class E

Distribution Date 0% 5% 15% 25% 40% 0% 5% 15% 25% 40% 0% 5% 15% 25% 40% 0% 5% 15% 25% 40%

Initial Percent . . . . . . . . . 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100September 2014 . . . . . . . 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100September 2015 . . . . . . . 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100September 2016 . . . . . . . 100 100 100 100 2 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100September 2017 . . . . . . . 100 100 100 67 0 100 100 100 100 0 100 100 100 100 0 100 100 100 100 37September 2018 . . . . . . . 100 100 100 0 0 100 100 100 48 0 100 100 100 100 0 100 100 100 100 0September 2019 . . . . . . . 100 100 80 0 0 100 100 100 0 0 100 100 100 0 0 100 100 100 90 0September 2020 . . . . . . . 100 100 20 0 0 100 100 100 0 0 100 100 100 0 0 100 100 100 0 0September 2021 . . . . . . . 100 100 0 0 0 100 100 34 0 0 100 100 100 0 0 100 100 100 0 0September 2022 . . . . . . . 100 100 0 0 0 100 100 0 0 0 100 100 35 0 0 100 100 100 0 0September 2023 . . . . . . . 100 100 0 0 0 100 100 0 0 0 100 100 0 0 0 100 100 45 0 0September 2024 . . . . . . . 100 100 0 0 0 100 100 0 0 0 100 100 0 0 0 100 100 0 0 0September 2025 . . . . . . . 100 100 0 0 0 100 100 0 0 0 100 100 0 0 0 100 100 0 0 0September 2026 . . . . . . . 100 84 0 0 0 100 100 0 0 0 100 100 0 0 0 100 100 0 0 0September 2027 . . . . . . . 100 53 0 0 0 100 100 0 0 0 100 100 0 0 0 100 100 0 0 0September 2028 . . . . . . . 100 25 0 0 0 100 100 0 0 0 100 100 0 0 0 100 100 0 0 0September 2029 . . . . . . . 100 0 0 0 0 100 96 0 0 0 100 100 0 0 0 100 100 0 0 0September 2030 . . . . . . . 100 0 0 0 0 100 39 0 0 0 100 100 0 0 0 100 100 0 0 0September 2031 . . . . . . . 100 0 0 0 0 100 0 0 0 0 100 83 0 0 0 100 100 0 0 0September 2032 . . . . . . . 100 0 0 0 0 100 0 0 0 0 100 27 0 0 0 100 100 0 0 0September 2033 . . . . . . . 100 0 0 0 0 100 0 0 0 0 100 0 0 0 0 100 72 0 0 0September 2034 . . . . . . . 100 0 0 0 0 100 0 0 0 0 100 0 0 0 0 100 19 0 0 0September 2035 . . . . . . . 100 0 0 0 0 100 0 0 0 0 100 0 0 0 0 100 0 0 0 0September 2036 . . . . . . . 100 0 0 0 0 100 0 0 0 0 100 0 0 0 0 100 0 0 0 0September 2037 . . . . . . . 95 0 0 0 0 100 0 0 0 0 100 0 0 0 0 100 0 0 0 0September 2038 . . . . . . . 65 0 0 0 0 100 0 0 0 0 100 0 0 0 0 100 0 0 0 0September 2039 . . . . . . . 34 0 0 0 0 100 0 0 0 0 100 0 0 0 0 100 0 0 0 0September 2040 . . . . . . . 2 0 0 0 0 100 0 0 0 0 100 0 0 0 0 100 0 0 0 0September 2041 . . . . . . . 0 0 0 0 0 33 0 0 0 0 100 0 0 0 0 100 0 0 0 0September 2042 . . . . . . . 0 0 0 0 0 0 0 0 0 0 55 0 0 0 0 100 0 0 0 0September 2043 . . . . . . . 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 71 0 0 0 0September 2044 . . . . . . . 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0September 2045 . . . . . . . 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0September 2046 . . . . . . . 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0September 2047 . . . . . . . 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0September 2048 . . . . . . . 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0September 2049 . . . . . . . 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0September 2050 . . . . . . . 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0September 2051 . . . . . . . 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0September 2052 . . . . . . . 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0September 2053 . . . . . . . 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0Weighted Average

Life (years) . . . . . . . . . 25.5 14.1 6.5 4.2 2.7 27.8 16.8 7.9 5.0 3.2 29.1 18.6 8.9 5.6 3.5 30.2 20.4 9.9 6.3 4.0

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CPR Prepayment Assumption Rates

Class G Class H Class J Class MA

Distribution Date 0% 5% 15% 25% 40% 0% 5% 15% 25% 40% 0% 5% 15% 25% 40% 0% 5% 15% 25% 40%

Initial Percent . . . . . . . . . 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100September 2014 . . . . . . . 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100September 2015 . . . . . . . 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100September 2016 . . . . . . . 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 32September 2017 . . . . . . . 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 77 0September 2018 . . . . . . . 100 100 100 100 0 100 100 100 100 42 100 100 100 100 100 100 100 100 15 0September 2019 . . . . . . . 100 100 100 100 0 100 100 100 100 0 100 100 100 100 48 100 100 86 0 0September 2020 . . . . . . . 100 100 100 56 0 100 100 100 100 0 100 100 100 100 3 100 100 44 0 0September 2021 . . . . . . . 100 100 100 0 0 100 100 100 46 0 100 100 100 100 0 100 100 10 0 0September 2022 . . . . . . . 100 100 100 0 0 100 100 100 0 0 100 100 100 75 0 100 100 0 0 0September 2023 . . . . . . . 100 100 100 0 0 100 100 100 0 0 100 100 100 36 0 100 100 0 0 0September 2024 . . . . . . . 100 100 62 0 0 100 100 100 0 0 100 100 100 7 0 100 100 0 0 0September 2025 . . . . . . . 100 100 0 0 0 100 100 87 0 0 100 100 100 0 0 100 100 0 0 0September 2026 . . . . . . . 100 100 0 0 0 100 100 19 0 0 100 100 100 0 0 100 89 0 0 0September 2027 . . . . . . . 100 100 0 0 0 100 100 0 0 0 100 100 76 0 0 100 67 0 0 0September 2028 . . . . . . . 100 100 0 0 0 100 100 0 0 0 100 100 47 0 0 100 47 0 0 0September 2029 . . . . . . . 100 100 0 0 0 100 100 0 0 0 100 100 22 0 0 100 29 0 0 0September 2030 . . . . . . . 100 100 0 0 0 100 100 0 0 0 100 100 1 0 0 100 12 0 0 0September 2031 . . . . . . . 100 100 0 0 0 100 100 0 0 0 100 100 0 0 0 100 0 0 0 0September 2032 . . . . . . . 100 100 0 0 0 100 100 0 0 0 100 100 0 0 0 100 0 0 0 0September 2033 . . . . . . . 100 100 0 0 0 100 100 0 0 0 100 100 0 0 0 100 0 0 0 0September 2034 . . . . . . . 100 100 0 0 0 100 100 0 0 0 100 100 0 0 0 100 0 0 0 0September 2035 . . . . . . . 100 66 0 0 0 100 100 0 0 0 100 100 0 0 0 100 0 0 0 0September 2036 . . . . . . . 100 13 0 0 0 100 100 0 0 0 100 100 0 0 0 100 0 0 0 0September 2037 . . . . . . . 100 0 0 0 0 100 59 0 0 0 100 100 0 0 0 97 0 0 0 0September 2038 . . . . . . . 100 0 0 0 0 100 6 0 0 0 100 100 0 0 0 76 0 0 0 0September 2039 . . . . . . . 100 0 0 0 0 100 0 0 0 0 100 73 0 0 0 54 0 0 0 0September 2040 . . . . . . . 100 0 0 0 0 100 0 0 0 0 100 44 0 0 0 32 0 0 0 0September 2041 . . . . . . . 100 0 0 0 0 100 0 0 0 0 100 17 0 0 0 10 0 0 0 0September 2042 . . . . . . . 100 0 0 0 0 100 0 0 0 0 100 0 0 0 0 0 0 0 0 0September 2043 . . . . . . . 100 0 0 0 0 100 0 0 0 0 100 0 0 0 0 0 0 0 0 0September 2044 . . . . . . . 84 0 0 0 0 100 0 0 0 0 100 0 0 0 0 0 0 0 0 0September 2045 . . . . . . . 0 0 0 0 0 86 0 0 0 0 100 0 0 0 0 0 0 0 0 0September 2046 . . . . . . . 0 0 0 0 0 0 0 0 0 0 87 0 0 0 0 0 0 0 0 0September 2047 . . . . . . . 0 0 0 0 0 0 0 0 0 0 19 0 0 0 0 0 0 0 0 0September 2048 . . . . . . . 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0September 2049 . . . . . . . 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0September 2050 . . . . . . . 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0September 2051 . . . . . . . 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0September 2052 . . . . . . . 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0September 2053 . . . . . . . 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0Weighted Average

Life (years) . . . . . . . . . 31.4 22.3 11.2 7.1 4.4 32.3 24.2 12.5 8.0 5.0 33.5 26.8 15.0 9.7 6.0 26.2 15.0 6.9 4.4 2.8

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CPR Prepayment Assumption Rates

Class MB Class MC Class MD Class ME

Distribution Date 0% 5% 15% 25% 40% 0% 5% 15% 25% 40% 0% 5% 15% 25% 40% 0% 5% 15% 25% 40%

Initial Percent . . . . . . . . . 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100September 2014 . . . . . . . 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100September 2015 . . . . . . . 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100September 2016 . . . . . . . 100 100 100 100 46 100 100 100 100 55 100 100 100 100 61 100 100 100 100 65September 2017 . . . . . . . 100 100 100 82 0 100 100 100 85 6 100 100 100 87 18 100 100 100 88 26September 2018 . . . . . . . 100 100 100 33 0 100 100 100 44 0 100 100 100 51 0 100 100 100 56 4September 2019 . . . . . . . 100 100 89 0 0 100 100 91 15 0 100 100 92 26 0 100 100 93 33 0September 2020 . . . . . . . 100 100 56 0 0 100 100 63 0 0 100 100 68 7 0 100 100 71 17 0September 2021 . . . . . . . 100 100 30 0 0 100 100 41 0 0 100 100 49 0 0 100 100 54 5 0September 2022 . . . . . . . 100 100 8 0 0 100 100 23 0 0 100 100 33 0 0 100 100 39 0 0September 2023 . . . . . . . 100 100 0 0 0 100 100 7 0 0 100 100 19 0 0 100 100 27 0 0September 2024 . . . . . . . 100 100 0 0 0 100 100 0 0 0 100 100 8 0 0 100 100 17 0 0September 2025 . . . . . . . 100 100 0 0 0 100 100 0 0 0 100 100 0 0 0 100 100 9 0 0September 2026 . . . . . . . 100 91 0 0 0 100 93 0 0 0 100 94 0 0 0 100 94 2 0 0September 2027 . . . . . . . 100 74 0 0 0 100 79 0 0 0 100 81 0 0 0 100 83 0 0 0September 2028 . . . . . . . 100 59 0 0 0 100 66 0 0 0 100 70 0 0 0 100 73 0 0 0September 2029 . . . . . . . 100 44 0 0 0 100 53 0 0 0 100 59 0 0 0 100 64 0 0 0September 2030 . . . . . . . 100 31 0 0 0 100 42 0 0 0 100 49 0 0 0 100 55 0 0 0September 2031 . . . . . . . 100 18 0 0 0 100 31 0 0 0 100 40 0 0 0 100 46 0 0 0September 2032 . . . . . . . 100 6 0 0 0 100 21 0 0 0 100 31 0 0 0 100 38 0 0 0September 2033 . . . . . . . 100 0 0 0 0 100 12 0 0 0 100 23 0 0 0 100 31 0 0 0September 2034 . . . . . . . 100 0 0 0 0 100 3 0 0 0 100 16 0 0 0 100 24 0 0 0September 2035 . . . . . . . 100 0 0 0 0 100 0 0 0 0 100 8 0 0 0 100 18 0 0 0September 2036 . . . . . . . 100 0 0 0 0 100 0 0 0 0 100 2 0 0 0 100 12 0 0 0September 2037 . . . . . . . 97 0 0 0 0 98 0 0 0 0 98 0 0 0 0 98 6 0 0 0September 2038 . . . . . . . 81 0 0 0 0 84 0 0 0 0 86 0 0 0 0 87 1 0 0 0September 2039 . . . . . . . 64 0 0 0 0 70 0 0 0 0 74 0 0 0 0 76 0 0 0 0September 2040 . . . . . . . 47 0 0 0 0 55 0 0 0 0 61 0 0 0 0 65 0 0 0 0September 2041 . . . . . . . 29 0 0 0 0 41 0 0 0 0 49 0 0 0 0 54 0 0 0 0September 2042 . . . . . . . 12 0 0 0 0 26 0 0 0 0 36 0 0 0 0 42 0 0 0 0September 2043 . . . . . . . 0 0 0 0 0 12 0 0 0 0 23 0 0 0 0 31 0 0 0 0September 2044 . . . . . . . 0 0 0 0 0 0 0 0 0 0 11 0 0 0 0 20 0 0 0 0September 2045 . . . . . . . 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 9 0 0 0 0September 2046 . . . . . . . 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0September 2047 . . . . . . . 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0September 2048 . . . . . . . 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0September 2049 . . . . . . . 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0September 2050 . . . . . . . 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0September 2051 . . . . . . . 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0September 2052 . . . . . . . 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0September 2053 . . . . . . . 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0Weighted Average

Life (years) . . . . . . . . . 26.8 15.7 7.3 4.7 3.0 27.4 16.5 7.8 4.9 3.2 27.9 17.2 8.2 5.2 3.3 28.3 18.0 8.6 5.5 3.5

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CPR Prepayment Assumption Rates

Class MG Class MH Class MJ Class MK

Distribution Date 0% 5% 15% 25% 40% 0% 5% 15% 25% 40% 0% 5% 15% 25% 40% 0% 5% 15% 25% 40%

Initial Percent . . . . . . . . . 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100September 2014 . . . . . . . 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100September 2015 . . . . . . . 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100September 2016 . . . . . . . 100 100 100 100 70 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100September 2017 . . . . . . . 100 100 100 90 37 100 100 100 100 0 100 100 100 100 11 100 100 100 100 30September 2018 . . . . . . . 100 100 100 62 18 100 100 100 73 0 100 100 100 81 0 100 100 100 85 0September 2019 . . . . . . . 100 100 94 43 7 100 100 100 0 0 100 100 100 27 0 100 100 100 43 0September 2020 . . . . . . . 100 100 76 29 0 100 100 100 0 0 100 100 100 0 0 100 100 100 12 0September 2021 . . . . . . . 100 100 60 18 0 100 100 65 0 0 100 100 76 0 0 100 100 81 0 0September 2022 . . . . . . . 100 100 48 11 0 100 100 17 0 0 100 100 42 0 0 100 100 54 0 0September 2023 . . . . . . . 100 100 38 5 0 100 100 0 0 0 100 100 13 0 0 100 100 32 0 0September 2024 . . . . . . . 100 100 29 1 0 100 100 0 0 0 100 100 0 0 0 100 100 13 0 0September 2025 . . . . . . . 100 100 22 0 0 100 100 0 0 0 100 100 0 0 0 100 100 0 0 0September 2026 . . . . . . . 100 95 16 0 0 100 100 0 0 0 100 100 0 0 0 100 100 0 0 0September 2027 . . . . . . . 100 86 11 0 0 100 100 0 0 0 100 100 0 0 0 100 100 0 0 0September 2028 . . . . . . . 100 77 7 0 0 100 100 0 0 0 100 100 0 0 0 100 100 0 0 0September 2029 . . . . . . . 100 69 3 0 0 100 98 0 0 0 100 98 0 0 0 100 99 0 0 0September 2030 . . . . . . . 100 61 0 0 0 100 68 0 0 0 100 78 0 0 0 100 82 0 0 0September 2031 . . . . . . . 100 54 0 0 0 100 40 0 0 0 100 58 0 0 0 100 67 0 0 0September 2032 . . . . . . . 100 47 0 0 0 100 13 0 0 0 100 39 0 0 0 100 52 0 0 0September 2033 . . . . . . . 100 41 0 0 0 100 0 0 0 0 100 22 0 0 0 100 38 0 0 0September 2034 . . . . . . . 100 35 0 0 0 100 0 0 0 0 100 6 0 0 0 100 26 0 0 0September 2035 . . . . . . . 100 30 0 0 0 100 0 0 0 0 100 0 0 0 0 100 14 0 0 0September 2036 . . . . . . . 100 24 0 0 0 100 0 0 0 0 100 0 0 0 0 100 3 0 0 0September 2037 . . . . . . . 99 19 0 0 0 100 0 0 0 0 100 0 0 0 0 100 0 0 0 0September 2038 . . . . . . . 89 15 0 0 0 100 0 0 0 0 100 0 0 0 0 100 0 0 0 0September 2039 . . . . . . . 80 10 0 0 0 100 0 0 0 0 100 0 0 0 0 100 0 0 0 0September 2040 . . . . . . . 70 6 0 0 0 100 0 0 0 0 100 0 0 0 0 100 0 0 0 0September 2041 . . . . . . . 60 2 0 0 0 65 0 0 0 0 75 0 0 0 0 81 0 0 0 0September 2042 . . . . . . . 51 0 0 0 0 26 0 0 0 0 49 0 0 0 0 59 0 0 0 0September 2043 . . . . . . . 41 0 0 0 0 0 0 0 0 0 21 0 0 0 0 38 0 0 0 0September 2044 . . . . . . . 31 0 0 0 0 0 0 0 0 0 0 0 0 0 0 18 0 0 0 0September 2045 . . . . . . . 22 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0September 2046 . . . . . . . 12 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0September 2047 . . . . . . . 3 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0September 2048 . . . . . . . 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0September 2049 . . . . . . . 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0September 2050 . . . . . . . 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0September 2051 . . . . . . . 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0September 2052 . . . . . . . 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0September 2053 . . . . . . . 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0Weighted Average

Life (years) . . . . . . . . . 29.1 19.2 9.5 6.1 3.8 28.4 17.7 8.3 5.3 3.4 28.9 18.5 8.8 5.6 3.5 29.5 19.3 9.3 5.9 3.7

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CPR Prepayment Assumption Rates

Class ML Class MN Class MQ Class MT

Distribution Date 0% 5% 15% 25% 40% 0% 5% 15% 25% 40% 0% 5% 15% 25% 40% 0% 5% 15% 25% 40%

Initial Percent . . . . . . . . . 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100September 2014 . . . . . . . 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100September 2015 . . . . . . . 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100September 2016 . . . . . . . 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100September 2017 . . . . . . . 100 100 100 100 41 100 100 100 100 53 100 100 100 100 18 100 100 100 100 42September 2018 . . . . . . . 100 100 100 87 7 100 100 100 90 26 100 100 100 100 0 100 100 100 100 0September 2019 . . . . . . . 100 100 100 52 0 100 100 100 62 10 100 100 100 43 0 100 100 100 60 0September 2020 . . . . . . . 100 100 100 26 0 100 100 100 41 1 100 100 100 0 0 100 100 100 17 0September 2021 . . . . . . . 100 100 84 7 0 100 100 87 26 0 100 100 100 0 0 100 100 100 0 0September 2022 . . . . . . . 100 100 61 0 0 100 100 69 15 0 100 100 66 0 0 100 100 76 0 0September 2023 . . . . . . . 100 100 43 0 0 100 100 55 7 0 100 100 21 0 0 100 100 45 0 0September 2024 . . . . . . . 100 100 27 0 0 100 100 42 1 0 100 100 0 0 0 100 100 19 0 0September 2025 . . . . . . . 100 100 14 0 0 100 100 32 0 0 100 100 0 0 0 100 100 0 0 0September 2026 . . . . . . . 100 100 3 0 0 100 100 23 0 0 100 100 0 0 0 100 100 0 0 0September 2027 . . . . . . . 100 100 0 0 0 100 100 16 0 0 100 100 0 0 0 100 100 0 0 0September 2028 . . . . . . . 100 100 0 0 0 100 100 10 0 0 100 100 0 0 0 100 100 0 0 0September 2029 . . . . . . . 100 99 0 0 0 100 99 5 0 0 100 100 0 0 0 100 100 0 0 0September 2030 . . . . . . . 100 85 0 0 0 100 88 0 0 0 100 100 0 0 0 100 100 0 0 0September 2031 . . . . . . . 100 72 0 0 0 100 78 0 0 0 100 91 0 0 0 100 94 0 0 0September 2032 . . . . . . . 100 60 0 0 0 100 68 0 0 0 100 62 0 0 0 100 73 0 0 0September 2033 . . . . . . . 100 48 0 0 0 100 59 0 0 0 100 34 0 0 0 100 54 0 0 0September 2034 . . . . . . . 100 38 0 0 0 100 51 0 0 0 100 9 0 0 0 100 36 0 0 0September 2035 . . . . . . . 100 28 0 0 0 100 43 0 0 0 100 0 0 0 0 100 20 0 0 0September 2036 . . . . . . . 100 18 0 0 0 100 35 0 0 0 100 0 0 0 0 100 4 0 0 0September 2037 . . . . . . . 100 9 0 0 0 100 28 0 0 0 100 0 0 0 0 100 0 0 0 0September 2038 . . . . . . . 100 1 0 0 0 100 21 0 0 0 100 0 0 0 0 100 0 0 0 0September 2039 . . . . . . . 100 0 0 0 0 100 15 0 0 0 100 0 0 0 0 100 0 0 0 0September 2040 . . . . . . . 100 0 0 0 0 100 9 0 0 0 100 0 0 0 0 100 0 0 0 0September 2041 . . . . . . . 84 0 0 0 0 87 4 0 0 0 100 0 0 0 0 100 0 0 0 0September 2042 . . . . . . . 66 0 0 0 0 73 0 0 0 0 77 0 0 0 0 84 0 0 0 0September 2043 . . . . . . . 48 0 0 0 0 59 0 0 0 0 34 0 0 0 0 53 0 0 0 0September 2044 . . . . . . . 31 0 0 0 0 45 0 0 0 0 0 0 0 0 0 25 0 0 0 0September 2045 . . . . . . . 14 0 0 0 0 31 0 0 0 0 0 0 0 0 0 0 0 0 0 0September 2046 . . . . . . . 0 0 0 0 0 18 0 0 0 0 0 0 0 0 0 0 0 0 0 0September 2047 . . . . . . . 0 0 0 0 0 4 0 0 0 0 0 0 0 0 0 0 0 0 0 0September 2048 . . . . . . . 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0September 2049 . . . . . . . 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0September 2050 . . . . . . . 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0September 2051 . . . . . . . 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0September 2052 . . . . . . . 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0September 2053 . . . . . . . 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0Weighted Average

Life (years) . . . . . . . . . 29.9 20.1 9.8 6.2 3.9 30.7 21.5 10.9 6.9 4.4 29.6 19.5 9.4 5.9 3.7 30.1 20.3 9.9 6.3 3.9

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CPR Prepayment Assumption Rates

Class MU Class MV Class MW

Distribution Date 0% 5% 15% 25% 40% 0% 5% 15% 25% 40% 0% 5% 15% 25% 40%

Initial Percent . . . . . . . . . 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100September 2014 . . . . . . . 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100September 2015 . . . . . . . 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100September 2016 . . . . . . . 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100September 2017 . . . . . . . 100 100 100 100 54 100 100 100 100 66 100 100 100 100 67September 2018 . . . . . . . 100 100 100 100 9 100 100 100 100 32 100 100 100 100 0September 2019 . . . . . . . 100 100 100 68 0 100 100 100 76 12 100 100 100 95 0September 2020 . . . . . . . 100 100 100 34 0 100 100 100 51 1 100 100 100 27 0September 2021 . . . . . . . 100 100 100 10 0 100 100 100 33 0 100 100 100 0 0September 2022 . . . . . . . 100 100 81 0 0 100 100 86 19 0 100 100 100 0 0September 2023 . . . . . . . 100 100 56 0 0 100 100 68 9 0 100 100 71 0 0September 2024 . . . . . . . 100 100 36 0 0 100 100 52 2 0 100 100 29 0 0September 2025 . . . . . . . 100 100 18 0 0 100 100 39 0 0 100 100 0 0 0September 2026 . . . . . . . 100 100 4 0 0 100 100 28 0 0 100 100 0 0 0September 2027 . . . . . . . 100 100 0 0 0 100 100 19 0 0 100 100 0 0 0September 2028 . . . . . . . 100 100 0 0 0 100 100 12 0 0 100 100 0 0 0September 2029 . . . . . . . 100 100 0 0 0 100 100 6 0 0 100 100 0 0 0September 2030 . . . . . . . 100 100 0 0 0 100 100 0 0 0 100 100 0 0 0September 2031 . . . . . . . 100 95 0 0 0 100 96 0 0 0 100 100 0 0 0September 2032 . . . . . . . 100 79 0 0 0 100 84 0 0 0 100 100 0 0 0September 2033 . . . . . . . 100 64 0 0 0 100 73 0 0 0 100 85 0 0 0September 2034 . . . . . . . 100 50 0 0 0 100 63 0 0 0 100 58 0 0 0September 2035 . . . . . . . 100 37 0 0 0 100 53 0 0 0 100 31 0 0 0September 2036 . . . . . . . 100 24 0 0 0 100 44 0 0 0 100 6 0 0 0September 2037 . . . . . . . 100 13 0 0 0 100 35 0 0 0 100 0 0 0 0September 2038 . . . . . . . 100 1 0 0 0 100 26 0 0 0 100 0 0 0 0September 2039 . . . . . . . 100 0 0 0 0 100 19 0 0 0 100 0 0 0 0September 2040 . . . . . . . 100 0 0 0 0 100 11 0 0 0 100 0 0 0 0September 2041 . . . . . . . 100 0 0 0 0 100 4 0 0 0 100 0 0 0 0September 2042 . . . . . . . 87 0 0 0 0 90 0 0 0 0 100 0 0 0 0September 2043 . . . . . . . 63 0 0 0 0 73 0 0 0 0 85 0 0 0 0September 2044 . . . . . . . 41 0 0 0 0 56 0 0 0 0 40 0 0 0 0September 2045 . . . . . . . 18 0 0 0 0 39 0 0 0 0 0 0 0 0 0September 2046 . . . . . . . 0 0 0 0 0 22 0 0 0 0 0 0 0 0 0September 2047 . . . . . . . 0 0 0 0 0 5 0 0 0 0 0 0 0 0 0September 2048 . . . . . . . 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0September 2049 . . . . . . . 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0September 2050 . . . . . . . 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0September 2051 . . . . . . . 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0September 2052 . . . . . . . 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0September 2053 . . . . . . . 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0Weighted Average

Life (years) . . . . . . . . . 30.6 21.1 10.5 6.6 4.2 31.4 22.6 11.6 7.4 4.6 30.8 21.3 10.5 6.7 4.2

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CPR Prepayment Assumption Rates

Class MY Class NA Class NB

Distribution Date 0% 5% 15% 25% 40% 0% 5% 15% 25% 40% 0% 5% 15% 25% 40%

Initial Percent . . . . . . . . . 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100September 2014 . . . . . . . 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100September 2015 . . . . . . . 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100September 2016 . . . . . . . 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100September 2017 . . . . . . . 100 100 100 100 77 100 100 100 100 84 100 100 100 100 100September 2018 . . . . . . . 100 100 100 100 12 100 100 100 100 41 100 100 100 100 20September 2019 . . . . . . . 100 100 100 96 0 100 100 100 98 16 100 100 100 100 0September 2020 . . . . . . . 100 100 100 48 0 100 100 100 65 1 100 100 100 77 0September 2021 . . . . . . . 100 100 100 14 0 100 100 100 42 0 100 100 100 22 0September 2022 . . . . . . . 100 100 100 0 0 100 100 100 24 0 100 100 100 0 0September 2023 . . . . . . . 100 100 80 0 0 100 100 86 12 0 100 100 100 0 0September 2024 . . . . . . . 100 100 50 0 0 100 100 67 2 0 100 100 80 0 0September 2025 . . . . . . . 100 100 26 0 0 100 100 50 0 0 100 100 41 0 0September 2026 . . . . . . . 100 100 6 0 0 100 100 36 0 0 100 100 9 0 0September 2027 . . . . . . . 100 100 0 0 0 100 100 25 0 0 100 100 0 0 0September 2028 . . . . . . . 100 100 0 0 0 100 100 15 0 0 100 100 0 0 0September 2029 . . . . . . . 100 100 0 0 0 100 100 7 0 0 100 100 0 0 0September 2030 . . . . . . . 100 100 0 0 0 100 100 0 0 0 100 100 0 0 0September 2031 . . . . . . . 100 100 0 0 0 100 100 0 0 0 100 100 0 0 0September 2032 . . . . . . . 100 100 0 0 0 100 100 0 0 0 100 100 0 0 0September 2033 . . . . . . . 100 90 0 0 0 100 93 0 0 0 100 100 0 0 0September 2034 . . . . . . . 100 70 0 0 0 100 80 0 0 0 100 100 0 0 0September 2035 . . . . . . . 100 52 0 0 0 100 67 0 0 0 100 82 0 0 0September 2036 . . . . . . . 100 34 0 0 0 100 56 0 0 0 100 54 0 0 0September 2037 . . . . . . . 100 18 0 0 0 100 44 0 0 0 100 28 0 0 0September 2038 . . . . . . . 100 2 0 0 0 100 34 0 0 0 100 3 0 0 0September 2039 . . . . . . . 100 0 0 0 0 100 24 0 0 0 100 0 0 0 0September 2040 . . . . . . . 100 0 0 0 0 100 14 0 0 0 100 0 0 0 0September 2041 . . . . . . . 100 0 0 0 0 100 6 0 0 0 100 0 0 0 0September 2042 . . . . . . . 100 0 0 0 0 100 0 0 0 0 100 0 0 0 0September 2043 . . . . . . . 89 0 0 0 0 93 0 0 0 0 100 0 0 0 0September 2044 . . . . . . . 58 0 0 0 0 71 0 0 0 0 92 0 0 0 0September 2045 . . . . . . . 26 0 0 0 0 50 0 0 0 0 41 0 0 0 0September 2046 . . . . . . . 0 0 0 0 0 28 0 0 0 0 0 0 0 0 0September 2047 . . . . . . . 0 0 0 0 0 6 0 0 0 0 0 0 0 0 0September 2048 . . . . . . . 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0September 2049 . . . . . . . 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0September 2050 . . . . . . . 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0September 2051 . . . . . . . 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0September 2052 . . . . . . . 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0September 2053 . . . . . . . 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0Weighted Average

Life (years) . . . . . . . . . 31.2 22.2 11.1 7.0 4.4 32.0 23.7 12.4 7.9 4.9 31.8 23.2 11.8 7.5 4.7

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CPR Prepayment Assumption Rates

Class NC Class ND Class Z

Distribution Date 0% 5% 15% 25% 40% 0% 5% 15% 25% 40% 0% 5% 15% 25% 40%

Initial Percent . . . . . . . . . 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100September 2014 . . . . . . . 100 100 100 100 100 100 100 100 100 100 103 103 103 103 103September 2015 . . . . . . . 100 100 100 100 100 100 100 100 100 100 107 107 107 107 107September 2016 . . . . . . . 100 100 100 100 100 100 100 100 100 100 110 110 110 110 111September 2017 . . . . . . . 100 100 100 100 100 100 100 100 100 100 114 114 114 114 115September 2018 . . . . . . . 100 100 100 100 54 100 100 100 100 78 118 118 118 118 119September 2019 . . . . . . . 100 100 100 100 21 100 100 100 100 30 121 122 122 122 123September 2020 . . . . . . . 100 100 100 87 1 100 100 100 100 2 125 126 126 126 127September 2021 . . . . . . . 100 100 100 56 0 100 100 100 79 0 130 130 130 131 78September 2022 . . . . . . . 100 100 100 33 0 100 100 100 46 0 134 134 134 135 45September 2023 . . . . . . . 100 100 100 16 0 100 100 100 22 0 138 138 139 140 26September 2024 . . . . . . . 100 100 89 3 0 100 100 100 4 0 143 143 144 144 15September 2025 . . . . . . . 100 100 67 0 0 100 100 95 0 0 148 148 149 115 9September 2026 . . . . . . . 100 100 48 0 0 100 100 69 0 0 152 153 154 83 5September 2027 . . . . . . . 100 100 33 0 0 100 100 47 0 0 157 158 159 60 3September 2028 . . . . . . . 100 100 20 0 0 100 100 29 0 0 163 163 164 43 2September 2029 . . . . . . . 100 100 9 0 0 100 100 14 0 0 168 169 170 31 1September 2030 . . . . . . . 100 100 0 0 0 100 100 1 0 0 174 174 175 22 1September 2031 . . . . . . . 100 100 0 0 0 100 100 0 0 0 179 180 144 16 0September 2032 . . . . . . . 100 100 0 0 0 100 100 0 0 0 185 186 116 11 0September 2033 . . . . . . . 100 100 0 0 0 100 100 0 0 0 192 192 94 8 0September 2034 . . . . . . . 100 100 0 0 0 100 100 0 0 0 198 199 75 6 0September 2035 . . . . . . . 100 90 0 0 0 100 100 0 0 0 205 206 60 4 0September 2036 . . . . . . . 100 74 0 0 0 100 100 0 0 0 212 213 48 3 0September 2037 . . . . . . . 100 59 0 0 0 100 84 0 0 0 219 220 38 2 0September 2038 . . . . . . . 100 45 0 0 0 100 64 0 0 0 226 227 30 1 0September 2039 . . . . . . . 100 32 0 0 0 100 45 0 0 0 234 235 23 1 0September 2040 . . . . . . . 100 19 0 0 0 100 27 0 0 0 242 243 18 1 0September 2041 . . . . . . . 100 7 0 0 0 100 11 0 0 0 250 252 14 0 0September 2042 . . . . . . . 100 0 0 0 0 100 0 0 0 0 259 242 10 0 0September 2043 . . . . . . . 100 0 0 0 0 100 0 0 0 0 268 198 7 0 0September 2044 . . . . . . . 95 0 0 0 0 100 0 0 0 0 277 160 5 0 0September 2045 . . . . . . . 66 0 0 0 0 95 0 0 0 0 287 125 4 0 0September 2046 . . . . . . . 37 0 0 0 0 53 0 0 0 0 298 93 3 0 0September 2047 . . . . . . . 8 0 0 0 0 12 0 0 0 0 309 64 2 0 0September 2048 . . . . . . . 0 0 0 0 0 0 0 0 0 0 238 41 1 0 0September 2049 . . . . . . . 0 0 0 0 0 0 0 0 0 0 186 31 1 0 0September 2050 . . . . . . . 0 0 0 0 0 0 0 0 0 0 133 21 0 0 0September 2051 . . . . . . . 0 0 0 0 0 0 0 0 0 0 80 12 0 0 0September 2052 . . . . . . . 0 0 0 0 0 0 0 0 0 0 34 5 0 0 0September 2053 . . . . . . . 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0Weighted Average

Life (years) . . . . . . . . . 32.6 24.8 13.2 8.4 5.3 33.1 25.8 14.0 9.0 5.6 36.7 32.4 21.4 14.3 8.9

Yield Considerations

An investor seeking to maximize yield should make a decision whether to invest in any Class basedon the anticipated yield of that Class resulting from its purchase price and the investor’s own projectionof Mortgage Loan prepayment rates under a variety of scenarios, and the investor’s own projection ofthe likelihood of extensions of the maturity of any Trust CLC or delays with respect to the con-version of a Trust CLC to a Ginnie Mae Project Loan Certificate. No representation is maderegarding Mortgage Loan prepayment rates, the occurrence and duration of extensions, if any,the timing of conversions, if any, or the yield of any Class.

Prepayments: Effect on Yields

The yields to investors will be sensitive in varying degrees to the rate of prepayments on the Mort-gage Loans.

• In the case of Regular or MX Securities purchased at a premium (especially the Interest OnlyClasses), faster than anticipated rates of principal payments could result in actual yields toinvestors that are lower than the anticipated yields.

• Investors in the Interest Only Classes should also consider the risk that rapid rates of principalpayments could result in the failure of investors to recover fully their investments.

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• In the case of Regular or MX Securities purchased at a discount, slower than anticipated rates ofprincipal payments could result in actual yields to investors that are lower than the anticipated yields.

• Investors in each of Classes AN, AQ, AT, AU, AV and AW should consider that differing rates of reduc-tion in the related REMIC Securities may ultimately cause such Classes to be exchanged for the relatedREMIC Securities (consisting primarily or exclusively of an Interest Only Class).

See “Risk Factors — Rates of principal payments can reduce your yield” in this Supplement.

Certain of the Mortgage Loans prohibit voluntary prepayment during specified lockout periods withremaining terms that range from 0 to 22 months. The Mortgage Loans have a weighted average remaininglockout period of approximately 4 months and a weighted average remaining term to maturity of approx-imately 411 months.

Certain of the Mortgage Loans are insured under FHA insurance program Section 223(f), which, withrespect to certain mortgage loans insured thereunder, prohibits prepayments for a period of five (5) yearsfrom the date of endorsement, regardless of any applicable lockout periods associated with such mortgageloans.

• The Mortgage Loans also provide for payment of a Prepayment Penalty in connection with prepay-ments for a period extending beyond the lockout period or, if no lockout period applies, the appli-cable Issue Date. See “The Ginnie Mae Multifamily Certificates — Certain Additional Characteristics ofthe Mortgage Loans” and “Characteristics of the Ginnie Mae Multifamily Certificates and the RelatedMortgage Loans” in Exhibit A to this Supplement. The required payment of a Prepayment Penalty maynot be a sufficient disincentive to prevent a borrower from voluntarily prepaying a Mortgage Loan.

• In addition, in some circumstances FHA may permit an FHA-insured Mortgage Loan to be refinancedor prepaid without regard to any lockout, statutory prepayment prohibition or Prepayment Penaltyprovisions.

Notwithstanding the foregoing, the Trust will not be entitled to receive any principal prepayments or anyapplicable Prepayment Penalties with respect to the Trust CLC Mortgage Loans until the earliest of (i) theliquidation of such Mortgage Loans, (ii) at the related Ginnie Mae Issuer’s option, either (a) the first GinnieMae Certificate Payment Date of the Ginnie Mae Project Loan Certificate following the conversion of the Gin-nie Mae Construction Loan Certificate or (b) the date of conversion of the Ginnie Mae Construction Loan Cer-tificate to a Ginnie Mae Project Loan Certificate, and (iii) the applicable Maturity Date. However, the Holdersof the Securities will not receive any such amounts until the next Distribution Date and will not be entitled toreceive any interest on such amounts.

Information relating to lockout periods, statutory prepayment prohibition periods and Prepayment Penal-ties is contained under “Certain Additional Characteristics of the Mortgage Loans” and “Yield, Maturity andPrepayment Considerations” in this Supplement and in Exhibit A to this Supplement.

Rapid rates of prepayments on the Mortgage Loans are likely to coincide with periods of low prevailinginterest rates.

• During periods of low prevailing interest rates, the yields at which an investor may be able to reinvestamounts received as principal payments on the investor’s Class of Securities may be lower than theyield on that Class.

Slow rates of prepayments on the Mortgage Loans are likely to coincide with periods of high prevailinginterest rates.

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• During periods of high prevailing interest rates, the amount of principal payments available to aninvestor for reinvestment at those high rates may be relatively low.

The Mortgage Loans will not prepay at any constant rate until maturity, nor will all of the MortgageLoans prepay at the same rate at any one time. The timing of changes in the rate of prepayments mayaffect the actual yield to an investor, even if the average rate of principal prepayments is consistent withthe investor’s expectation. In general, the earlier a prepayment of principal on the Mortgage Loans, thegreater the effect on an investor’s yield. As a result, the effect on an investor’s yield of principalprepayments occurring at a rate higher (or lower) than the rate anticipated by the investor during theperiod immediately following the Closing Date is not likely to be offset by a later equivalent reduction(or increase) in the rate of principal prepayments.

Payment Delay: Effect on Yields of the Fixed Rate and Delay Classes

The effective yield on any Fixed Rate or Delay Class will be less than the yield otherwise producedby its Interest Rate and purchase price because on any Distribution Date, 30 days’ interest will be pay-able on (or added to the principal amount of) that Class even though interest began to accrue approx-imately 46 days earlier.

Yield Tables

The following tables show the pre-tax yields to maturity on a corporate bond equivalent basis ofspecified Classes based on the assumption that the Trust PLC Mortgage Loans prepay at the CPRPrepayment Assumption Rates and 100% PLD and the Trust CLC Mortgage Loans prepay at 0% CPR and0% PLD until the Trust CLCs convert to Ginnie Mae Project Loan Certificates, after which they prepay atthe CPR Prepayment Assumption Rates and 100% PLD.

The Mortgage Loans will not prepay at any constant rate until maturity. Moreover, it is likely thatthe Mortgage Loans will experience actual prepayment rates that differ from those of the ModelingAssumptions. Therefore, the actual pre-tax yield of any Class may differ from those shown in the appli-cable table below even if the Class is purchased at the assumed price shown.

The yields were calculated by:

1. determining the monthly discount rates that, when applied to the applicable assumed streamsof cash flows to be paid on the applicable Class would cause the discounted present value ofthe assumed streams of cash flows to equal the assumed purchase price of that Class plusaccrued interest, and

2. converting the monthly rates to corporate bond equivalent rates.

These calculations do not take into account variations that may occur in the interest rates at whichinvestors may be able to reinvest funds received by them as distributions on their Securities and con-sequently do not purport to reflect the return on any investment in any Class when those reinvestmentrates are considered.

The information set forth in the following tables was prepared on the basis of the ModelingAssumptions and the assumption that the purchase price of each class (expressed as a percentage of itsoriginal Class Notional Balance) plus accrued interest is as indicated in the related table. The assumedpurchase price is not necessarily that at which actual sales will occur.

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Sensitivity of Class IA to PrepaymentsAssumed Price 0.541%*

CPR Prepayment Assumption Rates

5% 15% 25% 40%

35.5% 10.6% (17.5)% (58.8)%

Sensitivity of Class IB to PrepaymentsAssumed Price 1.2631%*

CPR Prepayment Assumption Rates

5% 15% 25% 40%

35.5% 10.6% (17.5)% (58.8)%

Sensitivity of Class IC to PrepaymentsAssumed Price 2.9058%*

CPR Prepayment Assumption Rates

5% 15% 25% 40%

20.4% 10.1% (6.0)% (34.4)%

Sensitivity of Class ID to PrepaymentsAssumed Price 4.7908%*

CPR Prepayment Assumption Rates

5% 15% 25% 40%

2.1% 10.5% 23.3% 44.7%

Sensitivity of Class IE to PrepaymentsAssumed Price 1.8042%*

CPR Prepayment Assumption Rates

5% 15% 25% 40%

35.5% 10.6% (17.5)% (58.8)%

Sensitivity of Class IG to PrepaymentsAssumed Price 1.9299%*

CPR Prepayment Assumption Rates

5% 15% 25% 40%

32.0% 10.8% (13.6)% (51.0)%

* The price does not include accrued interest. Accrued interest has been added to the price in calculat-ing the yields set forth in the table.

S-41

Sensitivity of Class IH to PrepaymentsAssumed Price 7.1439%*

CPR Prepayment Assumption Rates

5% 15% 25% 40%

5.5% 5.3% 9.6% 17.9%

Sensitivity of Class IJ to PrepaymentsAssumed Price 6.6133%*

CPR Prepayment Assumption Rates

5% 15% 25% 40%

4.7% 6.0% 11.8% 22.2%

* The price does not include accrued interest. Accrued interest has been added to the price in calculat-ing the yields set forth in the table.

CERTAIN UNITED STATES FEDERAL INCOME TAX CONSEQUENCES

The following tax discussion, when read in conjunction with the discussion of “Certain UnitedStates Federal Income Tax Consequences” in the Multifamily Base Offering Circular, describes thematerial United States federal income tax considerations for investors in the Securities. However, thesetwo tax discussions do not purport to deal with all United States federal tax consequences applicable toall categories of investors, some of which may be subject to special rules.

U.S. Treasury Circular 230 Notice

The discussion contained in this Supplement and the Multifamily Base Offering Circular asto certain United States federal tax consequences is not intended or written to be used, andcannot be used, for the purpose of avoiding United States federal tax penalties. Such discussionis written to support the promotion or marketing of the transactions or matters addressed inthis Supplement and the Multifamily Base Offering Circular. Each taxpayer to whom suchtransactions or matters are being promoted, marketed or recommended should seek advicebased on its particular circumstances from an independent tax advisor.

REMIC Elections

In the opinion of Bingham McCutchen LLP, the Trust will constitute a Double REMIC Series forUnited States federal income tax purposes. Separate REMIC elections will be made for the PoolingREMIC and the Issuing REMIC.

Regular Securities

The Regular Securities will be treated as debt instruments issued by the Issuing REMIC for UnitedStates federal income tax purposes. Income on the Regular Securities must be reported under an accrualmethod of accounting.

The Notional and Accrual Classes of Regular Securities will be issued with original issue discount(“OID”), and certain other Classes of Regular Securities may be issued with OID. See “Certain UnitedStates Federal Income Tax Consequences — Tax Treatment of Regular Securities — Original IssueDiscount,” “— Variable Rate Securities” and “— Interest Weighted Securities and Non-VRDI Securities” inthe Multifamily Base Offering Circular.

S-42

The prepayment assumption that should be used in determining the rates of accrual of OID, if any,on the Regular Securities is 15% CPR and 100% PLD in the case of the Trust PLC Mortgage Loans and0% CPR and 0% PLD in the case of the Trust CLC Mortgage Loans until the Trust CLCs convert to GinnieMae Project Loan Certificates, after which the prepayment assumption that should be used is 15% CPRand 100% PLD (as described in “Yield, Maturity and Prepayment Considerations” in this Supplement).No representation is made, however, about the rate at which prepayments on the Mortgage Loansunderlying the Ginnie Mae Multifamily Certificates actually will occur. See “Certain United States FederalIncome Tax Consequences” in the Multifamily Base Offering Circular.

The Regular Securities generally will be treated as “regular interests” in a REMIC for domestic build-ing and loan associations and “real estate assets” for real estate investment trusts (“REITs”) as describedin “Certain United States Federal Income Tax Consequences” in the Multifamily Base Offering Circular.Similarly, interest on the Regular Securities will be considered “interest on obligations secured by mort-gages on real property” for REITs as described in “Certain United States Federal Income Tax Con-sequences” in the Multifamily Base Offering Circular.

Residual Securities

The Class RR Securities will represent the beneficial ownership of the Residual Interest in the Pool-ing REMIC and the beneficial ownership of the Residual Interest in the Issuing REMIC. The ResidualSecurities, i.e., the Class RR Securities, generally will be treated as “residual interests” in a REMIC fordomestic building and loan associations and as “real estate assets” for REITs, as described in “CertainUnited States Federal Income Tax Consequences” in the Multifamily Base Offering Circular, but will notbe treated as debt for United States federal income tax purposes. Instead, the Holders of the ResidualSecurities will be required to report, and will be taxed on, their pro rata shares of the taxable income orloss of the Trust REMICs, and these requirements will continue until there are no outstanding regularinterests in the respective Trust REMICs. Thus, Residual Holders will have taxable income attributable tothe Residual Securities even though they will not receive principal or interest distributions with respectto the Residual Securities, which could result in a negative after-tax return for the Residual Holders.Even though the Holders of the Residual Securities are not entitled to any stated principal or interestpayments on the Residual Securities, the Trust REMICs may have substantial taxable income in certainperiods, and offsetting tax losses may not occur until much later periods. Accordingly, the Holders ofthe Residual Securities may experience substantial adverse tax timing consequences. Prospective invest-ors are urged to consult their own tax advisors and consider the after-tax effect of ownership of theResidual Securities and the suitability of the Residual Securities to their investment objectives.

Prospective Holders of Residual Securities should be aware that, at issuance, based on the expectedprices of the Regular and Residual Securities and the prepayment assumption described above, theresidual interests represented by the Residual Securities will be treated as “noneconomic residual inter-ests” as that term is defined in Treasury regulations.

MX Securities

For a discussion of certain United States federal income tax consequences applicable to the MXClasses, see “Certain United States Federal Income Tax Consequences — Tax Treatment of MX Securities”,“— Exchanges of MX Classes and Regular Classes” and “— Taxation of Foreign Holders of REMIC Secu-rities and MX Securities” in the Multifamily Base Offering Circular.

Foreign Account Tax Compliance Act

A Holder of a Regular or MX Security who is not a U.S. Person should be aware of recent legis-lation commonly known as FATCA and related administrative guidance that impose a 30% United States

S-43

withholding tax on certain payments (which would include interest payments in respect of Regular andMX Securities beginning July 1, 2014, and gross proceeds, including the return of principal, from the saleor other disposition, including redemptions, of such Securities beginning January 1, 2017) made to anon-United States entity that fails to take required steps to provide information regarding its “UnitedStates accounts” or its direct or indirect “substantial United States owners,” as applicable, or to certifythat it has no such accounts or owners. Various exceptions are provided under the legislation andrelated administrative guidance, including generally an exemption for “grandfathered obligations” issuedbefore July 1, 2014 that are not materially modified. It is possible that certain MX Securities would beconsidered to be issued for this purpose on the date when they are purchased by a new holder, withthe result that the exception for grandfathered obligations would not apply to those MX Securities in thehands of a holder who purchased them on or after July 1, 2014. Foreign investors should consult theirown tax advisors regarding the application and impact of this legislation based upon their particularcircumstances.

Investors should consult their own tax advisors in determining the United States federal,state, local, foreign and any other tax consequences to them of the purchase, ownership anddisposition of the Securities.

ERISA MATTERS

Ginnie Mae guarantees distributions of principal and interest with respect to the Securities. TheGinnie Mae Guaranty is supported by the full faith and credit of the United States of America. GinnieMae does not guarantee the payment of any Prepayment Penalties. The Regular and MX Securities willqualify as “guaranteed governmental mortgage pool certificates” within the meaning of a Department ofLabor regulation, the effect of which is to provide that mortgage loans and participations therein under-lying a “guaranteed governmental mortgage pool certificate” will not be considered assets of anemployee benefit plan subject to the Employee Retirement Income Security Act of 1974, as amended(“ERISA”), or subject to section 4975 of the Code (each, a “Plan”), solely by reason of the Plan’s pur-chase and holding of that certificate.

Governmental plans and certain church plans, while not subject to the fiduciary responsibility provi-sions of ERISA or the prohibited transaction provisions of ERISA and the Code, may nevertheless besubject to local, state or other federal laws that are substantially similar to the foregoing provisions ofERISA and the Code. Fiduciaries of any such plans should consult with their counsel before purchasingany of the Securities.

Prospective Plan Investors should consult with their advisors, however, to determinewhether the purchase, holding or resale of a Security could give rise to a transaction that isprohibited or is not otherwise permissible under either ERISA or the Code.

See “ERISA Considerations” in the Multifamily Base Offering Circular.

The Residual Securities are not offered to, and may not be transferred to, a Plan Investor.

LEGAL INVESTMENT CONSIDERATIONS

Institutions whose investment activities are subject to legal investment laws and regulations or toreview by certain regulatory authorities may be subject to restrictions on investment in the Securities. Norepresentation is made about the proper characterization of any Class for legal investment or

S-44

other purposes, or about the permissibility of the purchase by particular investors of any Classunder applicable legal investment restrictions.

Investors should consult their own legal advisors regarding applicable investmentrestrictions and the effect of any restrictions on the liquidity of the Securities prior to investingin the Securities.

See “Legal Investment Considerations” in the Multifamily Base Offering Circular.

PLAN OF DISTRIBUTION

Subject to the terms and conditions of the Sponsor Agreement, the Sponsor has agreed to purchaseall of the Securities if any are sold and purchased. The Sponsor proposes to offer the Regular and MXClasses to the public from time to time for sale in negotiated transactions at varying prices to bedetermined at the time of sale, plus accrued interest, from September 1, 2013. The Sponsor may effectthese transactions by sales to or through certain securities dealers. These dealers may receivecompensation in the form of discounts, concessions or commissions from the Sponsor and/or commis-sions from any purchasers for which they act as agents. Some of the Securities may be sold throughdealers in relatively small sales. In the usual case, the commission charged on a relatively small sale ofsecurities will be a higher percentage of the sales price than that charged on a large sale of securities.

INCREASE IN SIZE

Before the Closing Date, Ginnie Mae, the Trustee and the Sponsor may agree to increase the size ofthis offering. In that event, the Securities will have the same characteristics as described in this Supple-ment, except that the Original Class Principal Balance (or original Class Notional Balance) of each Classwill increase by the same proportion. The Trust Agreement, the Final Data Statement and the Supple-mental Statement, if any, will reflect any increase in the size of the transaction.

LEGAL MATTERS

Certain legal matters will be passed upon for Ginnie Mae by Hunton & Williams LLP and Harrell &Chambliss LLP, Richmond, Virginia, for the Trust by Bingham McCutchen LLP and Marcell Solomon &Associates, P.C. and for the Trustee by Aini & Associates PLLC.

S-45

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$71,

439,

000

MG

$232

,716

,000

SEQ

(5)

WAC/D

LY38

378K

4Y2

Febr

uary

2052

C31

,064

,000

D28

,170

,000

E25

,463

,000

G22

,919

,000

H20

,495

,000

J33

,166

,000

IC71

,439

,000

Co

mb

inat

ion

24C

$31,

064,

000

MH

$59

,234

,000

SEQ

(5)

WAC/D

LY38

378K

4Z9

Septe

mbe

r20

45D

28,1

70,0

00C

om

bin

atio

n25

C$3

1,06

4,00

0M

J$

84,6

97,0

00SE

Q(5

)W

AC/D

LY38

378K

5A3

Septe

mbe

r20

46D

28,1

70,0

00E

25,4

63,0

00

S-I-7

RE

MIC

Cla

ss

Ori

gin

alC

lass

Pri

nci

pal

Bal

ance

or

No

tio

nal

Bal

ance

Rel

ated

MX

Cla

ss

Max

imu

mO

rigi

nal

Cla

ssP

rin

cip

alB

alan

ceo

rC

lass

No

tio

nal

Bal

ance

(2)

Pri

nci

pal

Typ

e(3)

Inte

rest

Rat

eIn

tere

stT

ype(

3)C

USI

PN

um

ber

Fin

alD

istr

ibu

tio

nD

ate(

4)

Co

mb

inat

ion

26C

$31,

064,

000

MK

$107

,616

,000

SEQ

(5)

WAC/D

LY38

378K

5B1

Septe

mbe

r20

47D

28,1

70,0

00E

25,4

63,0

00G

22,9

19,0

00C

om

bin

atio

n27

C$3

1,06

4,00

0M

L$1

28,1

11,0

00SE

Q(5

)W

AC/D

LY38

378K

5C9

July

2048

D28

,170

,000

E25

,463

,000

G22

,919

,000

H20

,495

,000

Co

mb

inat

ion

28C

$31,

064,

000

MN

$161

,277

,000

SEQ

(5)

WAC/D

LY38

378K

5D7

Febr

uary

2052

D28

,170

,000

E25

,463

,000

G22

,919

,000

H20

,495

,000

J33

,166

,000

Co

mb

inat

ion

29D

$28,

170,

000

MQ

$53

,633

,000

SEQ

(5)

WAC/D

LY38

378K

5E5

Septe

mbe

r20

46E

25,4

63,0

00C

om

bin

atio

n30

D$2

8,17

0,00

0M

T$

76,5

52,0

00SE

Q(5

)W

AC/D

LY38

378K

5F2

Septe

mbe

r20

47E

25,4

63,0

00G

22,9

19,0

00C

om

bin

atio

n31

D$2

8,17

0,00

0M

U$

97,0

47,0

00SE

Q(5

)W

AC/D

LY38

378K

5G0

July

2048

E25

,463

,000

G22

,919

,000

H20

,495

,000

S-I-8

RE

MIC

Cla

ss

Ori

gin

alC

lass

Pri

nci

pal

Bal

ance

or

No

tio

nal

Bal

ance

Rel

ated

MX

Cla

ss

Max

imu

mO

rigi

nal

Cla

ssP

rin

cip

alB

alan

ceo

rC

lass

No

tio

nal

Bal

ance

(2)

Pri

nci

pal

Typ

e(3)

Inte

rest

Rat

eIn

tere

stT

ype(

3)C

USI

PN

um

ber

Fin

alD

istr

ibu

tio

nD

ate(

4)

Co

mb

inat

ion

32D

$28

,170

,000

MV

$130

,213

,000

SEQ

(5)

WAC/D

LY38

378K

5H8

Febr

uary

2052

E25

,463

,000

G22

,919

,000

H20

,495

,000

J33

,166

,000

Co

mb

inat

ion

33E

$25

,463

,000

MW

$48

,382

,000

SEQ

(5)

WAC/D

LY38

378K

5J4

Septe

mbe

r20

47G

22,9

19,0

00C

om

bin

atio

n34

E$

25,4

63,0

00M

Y$

68,8

77,0

00SE

Q(5

)W

AC/D

LY38

378K

5K1

July

2048

G22

,919

,000

H20

,495

,000

Co

mb

inat

ion

35E

$25

,463

,000

NA

$102

,043

,000

SEQ

(5)

WAC/D

LY38

378K

5L9

Febr

uary

2052

G22

,919

,000

H20

,495

,000

J33

,166

,000

Co

mb

inat

ion

36G

$22

,919

,000

NB

$43

,414

,000

SEQ

(5)

WAC/D

LY38

378K

5M7

July

2048

H20

,495

,000

Co

mb

inat

ion

37G

$22

,919

,000

NC

$76

,580

,000

SEQ

(5)

WAC/D

LY38

378K

5N5

Febr

uary

2052

H20

,495

,000

J33

,166

,000

Co

mb

inat

ion

38H

$20

,495

,000

ND

$53

,661

,000

SEQ

(5)

WAC/D

LY38

378K

5P0

Febr

uary

2052

J33

,166

,000

Co

mb

inat

ion

39IA

$500

,820

,000

IE$5

00,8

20,0

00N

TL(

SEQ

)(5

)W

AC/I

O/D

LY38

378K

5Q8

June

2040

IB50

0,82

0,00

0

S-I-9

RE

MIC

Cla

ss

Ori

gin

alC

lass

Pri

nci

pal

Bal

ance

or

No

tio

nal

Bal

ance

Rel

ated

MX

Cla

ss

Max

imu

mO

rigi

nal

Cla

ssP

rin

cip

alB

alan

ceo

rC

lass

No

tio

nal

Bal

ance

(2)

Pri

nci

pal

Typ

e(3)

Inte

rest

Rat

eIn

tere

stT

ype(

3)C

USI

PN

um

ber

Fin

alD

istr

ibu

tio

nD

ate(

4)

Co

mb

inat

ion

40IA

$500

,820

,000

IG$5

72,2

59,0

00N

TL(

SEQ

)(5

)W

AC/I

O/D

LY38

378K

5R6

April2

043

IB50

0,82

0,00

0IC

71,4

39,0

00C

om

bin

atio

n41

IA$5

00,8

20,0

00IH

(7)

$733

,536

,000

NTL(

SEQ

)(5

)W

AC/I

O/D

LY38

378K

5S4

Febr

uary

2052

IB50

0,82

0,00

0IC

71,4

39,0

00ID

733,

536,

000

Co

mb

inat

ion

42IB

$500

,820

,000

IJ(7

)$7

33,5

36,0

00N

TL(

SEQ

)(5

)W

AC/I

O/D

LY38

378K

5T2

Febr

uary

2052

IC71

,439

,000

ID73

3,53

6,00

0

(1)

All

exch

ange

sm

ustco

mply

with

min

imum

deno

min

atio

nre

strict

ions

.

(2)

The

amou

ntsh

own

for

each

MX

Cla

ssre

pre

sent

sth

em

axim

umor

igin

alCla

ssPr

inci

pal

Bal

ance

(or

orig

inal

Cla

ssN

otio

nalBal

ance

)of

that

Cla

ss,a

ssum

ing

itw

ere

tobe

issu

edon

the

Clo

sing

Dat

e.

(3)

As

defin

edun

der“C

lass

Typ

es”

inAppen

dix

Ito

the

Bas

eO

ffer

ing

Circu

lar.

(4)

See

“Yie

ld,M

atu

rity

an

dP

repa

ymen

tCon

sider

ation

s—

Fin

alD

istr

ibu

tion

Date

”in

this

Supp

lem

ent.

(5)

The

Inte

rest

Rat

ew

illbe

calc

ulat

edas

desc

ribe

dun

der“T

erm

sSh

eet—

Inte

rest

Rat

es”

inth

isSu

pple

men

t.

(6)

Inth

eev

entth

atth

eIn

tere

stRat

eof

this

MX

Cla

ssw

illeq

ualor

exce

ed1,

200%

per

annu

mfo

ran

yAcc

rual

Period

,th

eTru

stee

will

,prior

toth

ecl

ose

ofbu

sine

sson

the

last

Bus

ines

sD

ayof

the

cale

ndar

mon

thim

med

iate

lypre

cedi

ngth

ere

late

dD

istrib

utio

nD

ate,

effe

cta

man

dato

ryex

chan

geof

this

MX

Cla

ssfo

rits

rela

ted

REM

ICSe

curitie

san

d,th

erea

fter,

nofu

rthe

rex

chan

ges

ofsu

chREM

ICSe

curitie

sw

illbe

per

mitt

ed.

(7)

Inth

eev

ent

that

the

Cla

ssPr

inci

pal

Bal

ance

orCla

ssN

otio

nalBal

ance

,as

applic

able

,of

this

MX

Cla

ssw

illbe

redu

ced

toze

roon

any

Distrib

utio

nD

ate,

the

Tru

stee

will

,prior

toth

ere

late

dD

istrib

utio

nD

ate

onw

hich

the

Cla

ssPr

inci

pal

Bal

ance

orCla

ssN

otio

nalBal

ance

,as

applic

able

,of

this

MX

Cla

ssw

ould

bere

duce

dto

zero

,ef

fect

am

anda

tory

exch

ange

ofth

isM

XCla

ssfo

rits

rela

ted

REM

ICSe

curitie

san

d,th

erea

fter,

nofu

rthe

rex

chan

ges

ofsu

chREM

ICSe

curitie

sw

illbe

per

mitt

ed.

S-I-10

Ex

hib

itA

Ch

arac

teri

stic

so

fth

eG

inn

ieM

aeM

ult

ifam

ily

Cer

tifi

cate

san

dth

eR

elat

edM

ort

gage

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s(1)

Po

ol

Nu

mb

erSe

curi

tyT

ype

FHA

Insu

ran

ceP

rogr

am/S

ecti

on

538

Gu

aran

tee

Pro

gram

(2)

Cit

ySt

ate

Pri

nci

pal

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ance

aso

fth

eC

ut-

off

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e

Mo

rtga

geIn

tere

stR

ate

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tifi

cate

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e

Serv

icin

gan

dG

uar

anty

Fee

Rat

eM

atu

rity

Dat

e

Mo

nth

lyP

rin

cip

alan

dIn

tere

st(3

)

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gin

alT

erm

toM

atu

rity

(mo

s.)

Rem

ain

ing

Ter

mto

Mat

uri

ty(m

os.

)

Per

iod

fro

mIs

suan

ce(m

os.

)Is

sue

Dat

e

Lock

ou

tE

nd

Dat

e(4)

†

Pre

pay

men

tP

enal

tyE

nd

Dat

e(5)

†

Lock

ou

t/P

rep

aym

ent

Pen

alty

Co

de(

6)

Rem

ain

ing

Lock

ou

tP

erio

d(m

os.

)(7)

†

To

tal

Rem

ain

ing

Lock

ou

tan

dP

rep

aym

ent

Pen

alty

Per

iod

(mo

s.)(

8)†

Rem

ain

ing

Inte

rest

On

lyP

erio

d(m

os.

)(9)

AB12

11PL

C20

7/22

3(f)

Bro

nxN

Y$4

9,28

4,66

2.00

2.40

0%2.

150%

0.25

0%D

ec-4

7(1

0)41

941

18

Jan-

13N

/AJa

n-23

AN

/A11

10

6787

52CLC

220

Was

hing

ton

DC

27,7

76,3

99.0

05.

600

5.35

00.

250

May

-53

$145

,157

.14

513

476

37Aug

-10

Jun-

15Ju

n-23

B20

116

0AB64

81PL

C20

7/22

3(f)

Ash

burn

VA

26,0

73,6

07.6

22.

990

2.74

00.

250

Jun-

4810

0,60

7.73

420

417

3Ju

n-13

N/A

Jul-2

3C

N/A

117

0AE3

696

PLC

207/

223(

f)Fa

rmer

sBra

nch

TX

22,6

77,0

82.0

22.

990

2.74

00.

250

Jun-

4887

,501

.88

420

417

3Ju

n-13

N/A

Jul-2

3C

N/A

117

0AC89

30PL

C22

1(d)

(4)/

223(

a)(7

)Si

lver

spring

MD

20,8

84,6

22.4

22.

730

2.48

00.

250

Jul-5

173

,824

.06

456

454

2Ju

l-13

N/A

Jul-2

3D

N/A

117

0AD

8937

PLC

207/

223(

f)Ral

eigh

NC

18,0

15,1

81.6

73.

200

2.95

00.

250

Jul-4

871

,543

.29

420

418

2Ju

l-13

N/A

Aug

-23

CN

/A11

80

AD

8944

PLC

232/

223(

a)(7

)N

iles

IL17

,322

,129

.74

4.28

04.

030

0.25

0Aug

-48

79,7

16.2

842

041

91

Aug

-13

Sep-1

4Se

p-2

3E

1111

90

AC68

32PL

C20

7/22

3(f)

Moo

resv

ille

NC

16,2

78,2

61.5

92.

950

2.70

00.

250

Jul-4

862

,363

.70

421

418

3Ju

n-13

Aug

-13

Aug

-23

F0

118

0AE9

638

PLC

232/

223(

f)Cro

ton-

on-H

udso

nN

Y15

,935

,416

.22

4.20

03.

950

0.25

0Aug

-43

78,0

35.4

036

135

92

Jul-13

Sep-1

3Se

p-2

3F

011

90

AE3

703

PLC

232/

223(

a)(7

)N

orth

broo

kIL

15,3

29,2

31.6

72.

600

2.35

00.

250

Jan-

4460

,923

.81

367

364

3Ju

n-13

N/A

Jul-2

3C

N/A

117

077

1284

CLC

221(

d)(4

)Ros

enbe

rgTX

14,9

67,6

11.0

04.

560

4.25

00.

310

Apr-53

67,8

67.1

849

547

520

Jan-

12M

ay-1

5M

ay-2

3B

1911

50

AC08

47PL

C22

1(d)

(4)/

223(

a)(7

)Atla

nta

GA

14,6

34,0

00.0

03.

875

3.62

50.

250

Sep-4

764

,589

.78

409

408

1Aug

-13

Oct

-14

Oct

-23

E12

120

0AC71

21PL

C22

3(f)

St.P

aul

MN

13,6

94,6

43.1

03.

280

3.03

00.

250

Jul-4

855

,007

.25

420

418

2Ju

l-13

Aug

-14

Aug

-23

E10

118

0AD

7901

PLC

207/

223(

f)Lo

wel

lM

A13

,326

,661

.19

3.03

02.

780

0.25

0Ju

l-48

51,6

49.6

942

141

83

Jun-

13N

/AAug

-23

GN

/A11

80

AD

0100

PLC

232/

223(

a)(7

)Apple

Val

ley

MN

11,9

13,2

12.2

42.

940

2.69

00.

250

Jul-5

342

,329

.38

481

478

3Ju

n-13

Aug

-13

Aug

-23

F0

118

0AC89

53PL

C23

1H

ende

rson

NV

11,8

36,6

31.4

22.

900

2.65

00.

250

Sep-5

142

,863

.72

458

456

2Ju

l-13

N/A

Aug

-23

CN

/A11

80

7395

04PL

C23

2H

onol

ulu

HI

11,7

63,1

27.4

14.

750

4.50

00.

250

Feb-

5355

,060

.42

476

473

3Ju

n-13

Mar

-15

Mar

-23

B17

113

0AE3

726

PLC

221(

d)(4

)/22

3(a)

(7)

Tup

elo

MS

11,0

50,8

42.5

24.

000

3.75

00.

250

Aug

-53

46,2

24.8

348

047

91

Aug

-13

Sep-1

4Se

p-2

3E

1111

90

AE2

240

PLC

207/

223(

f)Pi

ttsfie

ldTow

nshi

pM

I9,

902,

844.

572.

900

2.65

00.

250

Jun-

4837

,716

.71

420

417

3Ju

n-13

N/A

Jul-2

3C

N/A

117

0AC71

22PL

C22

3(f)

Eden

Prai

rie

MN

9,65

3,21

5.34

2.88

02.

630

0.25

0Ju

l-48

36,6

08.2

642

041

82

Jul-1

3N

/AAug

-23

CN

/A11

80

7741

50CLC

232

Ode

ssa

TX

8,67

0,65

7.00

4.95

04.

700

0.25

0Fe

b-53

41,5

22.8

949

447

321

Dec

-11

Mar

-15

Mar

-23

B17

113

0AB80

41PL

C23

2/22

3(a)

(7)

Syra

cuse

NY

8,58

5,68

5.72

3.55

03.

250

0.30

0M

ay-3

350

,597

.22

242

236

6M

ar-1

3Apr-14

Apr-23

E6

114

0AE2

242

PLC

207/

223(

f)Ann

Arb

orM

I8,

336,

961.

342.

900

2.65

00.

250

Jul-4

831

,708

.74

421

418

3Ju

n-13

Aug

-13

Aug

-23

F0

118

0AB85

43PL

C22

1(d)

(4)/

223(

a)(7

)D

unw

oody

GA

8,14

3,80

3.43

3.05

02.

800

0.25

0Ju

l-48

31,6

53.7

442

041

82

Jul-1

3N

/AJu

l-23

HN

/A11

70

AC05

75PL

C20

7/22

3(f)

Sanf

ord

FL7,

678,

500.

832.

950

2.70

00.

250

Jul-4

829

,417

.13

421

418

3Ju

n-13

Aug

-13

Aug

-23

F0

118

0AB12

34PL

C20

7/22

3(f)

Arlin

gton

VA

7,46

5,60

3.55

2.66

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Aug

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360

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Aug

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Jul-2

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117

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PLC

221(

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2,01

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5Apr-13

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Nov

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Jul-1

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0.25

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PLC

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Aug

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May

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Dec

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1Aug

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5Apr-13

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Apr-48

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5Apr-13

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5Apr-13

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Mar

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Dec

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5Apr-13

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Mar

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5,70

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2Ju

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Jul-3

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380

Feb-

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6047

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33

Jun-

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Jun-

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Aug

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Aug

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B22

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1Aug

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Dec

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1Aug

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PLC

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Jul-4

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Jun-

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Apr-48

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5Apr-13

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Jul-5

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5Apr-13

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ville

TX

154,

515.

624.

630

4.38

00.

250

Jul-5

271

5.01

471

466

5Apr-13

Aug

-14

Aug

-22

B10

106

0

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Bas

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A-5

$748,506,461

Government NationalMortgage Association

GINNIE MAEþ

Guaranteed Multifamily REMICPass-Through Securities

and MX SecuritiesGinnie Mae REMIC Trust 2013-141

OFFERING CIRCULAR SUPPLEMENTSeptember 23, 2013

CREDIT SUISSE

MISCHLER FINANCIAL GROUP, INC.