MDX.GN Loan Inclusion Rules for New Indices
Vista MDX Indices™ are intended to be accurate and reliable representations of loan performance in the U.S. residential mortgage credit market.The indices themselves are organized into numbered six-month intervals called MDX Series that reference a specific borrower data source. The initial MDX Series will be calculated from data provided to the public by Ginnie Mae and carry the identifier MDX.GN. A new MDX Series is released on the 8th business day of March and September each calendar year.
Below are the rules that are used to determine how loans are selected for inclusion in each MDX Series. Vista will publish these rules on its public website and will provide draft index values for comment prior to final release. A calendar for loan selection, draft publication, and final release dates is attached. Loan data is sourced, aggregated, and computed by ICE Data, a division of Intercontinental Exchange, Inc. (NYSE: ICE), based on specifications provided by Vista Index Services.
MDX.GN Loan Inclusion Rules for each new MDX Ginnie Mae Series are followed in the sequential order listed below:
Loan selection takes place during the second week of February and August each year.
Eligible loans are chosen from the Ginnie Mae MBS pool database during the latest reporting period.
Loans must be contained within a Ginnie Mae II MBS eligible pool.
Loans must have a pool origination date within the most recent eligible six-month window (June – November for March or December – May for September).
Loans must have a loan origination date within twelve months of the Pool Origination Cutoff Date.
Loans must be specified as either Purchase or Refinance type single family mortgages and have an original maturity of 241-360 months at origination.
Loans that previously have been delinquent 30 days or greater, modified, or prepaid are removed.
Calendar and Loan Aggregation for Each MDX.GN Series
| MDX.GN Series Number | MDX.GN Series Start Date | Pool Origination Start Date | Pool Origination Cutoff Date | Loan Selection Process Start Date | Comment Release Date | Comment End Date | Final Production Release Date | MDX.GN Market Release Date |
|---|---|---|---|---|---|---|---|---|
| 1 | 3/10/22 | 6/1/21 | 11/30/21 | 2/11/22 | 2/18/22 | 2/25/22 | 3/9/22 | 3/10/22 |
| 2 | 9/13/22 | 12/1/21 | 5/31/22 | 8/12/22 | 8/19/22 | 8/26/22 | 9/12/22 | 9/13/22 |
| 3 | 3/10/23 | 6/1/22 | 11/30/22 | 2/10/23 | 2/17/23 | 2/24/22 | 3/9/23 | 3/10/23 |
| 4 | 9/13/23 | 12/1/22 | 5/31/23 | 8/11/23 | 8/18/23 | 8/25/23 | 9/12/23 | 9/13/23 |
| 5 | 3/12/24 | 6/1/23 | 11/30/23 | 2/9/24 | 2/16/24 | 2/23/24 | 3/11/24 | 3/12/24 |
| 6 | 9/12/24 | 12/1/23 | 5/31/24 | 8/9/24 | 8/16/24 | 8/23/24 | 9/11/24 | 9/12/24 |
| 7 | 3/12/25 | 6/1/24 | 11/30/24 | 2/14/25 | 2/21/25 | 2/28/25 | 3/11/25 | 3/12/25 |
| 8 | 9/11/25 | 12/1/24 | 5/31/25 | 8/8/25 | 8/15/25 | 8/22/22 | 9/10/25 | 9/11/25 |
| 9 | 3/11/26 | 6/1/25 | 11/30/25 | 2/13/26 | 2/20/26 | 2/27/26 | 3/10/26 | 3/11/26 |
| 10 | 9/11/26 | 12/1/25 | 5/31/26 | 8/14/26 | 8/21/26 | 8/28/26 | 9/10/26 | 9/11/26 |
| 11 | 3/10/27 | 6/1/26 | 11/30/26 | 2/12/27 | 2/19/27 | 2/26/27 | 3/9/27 | 3/10/27 |
| 12 | 9/13/27 | 12/1/26 | 5/31/27 | 8/13/27 | 8/20/27 | 8/27/27 | 9/10/27 | 9/13/27 |
| Date Calculation Guide | 8th Business Day of the Month | First Actual Day of June or December | Last Actual Day of May or November | 2nd Friday of the Month | 3rd Friday of the Month | 4th Friday of the Month | 7th Business Day of the Month | 8th Business Day of the Month |
| Note: MDX.GN Series 1 through Series 4 were released in January 2024 with the initial creation of MDX.GN. These four Series will be published for ten years from their original as-of release dates (e.g. Series 1 publication will expire on 3/10/32). | ||||||||