Volume 7 - Number 3
January 31, 2014
GNMA Mulls Longer Approval Time for Transfers
Ginnie Mae is considering lengthening the approval time for transfers of mortgage servicing rights (MSRs) to 90 days or more from the current 30 days but has yet to issue guidance. The agency alerted sellers of MSRs and their investment banking advisors of the forthcoming change in late November at an education summit in Washington, according to a participant, who preferred anonymity. New and existing issuers participated in the event, and a copy of Ginnie Maes presentation was provided to Inside Mortgage Finance, an affiliated publication. Ginnie Mae declined to comment on the report. However, according to the presentation, the reason for ...
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