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Volume 2017 - Number 11

March 17, 2017

HUD IG Calls for Changes in GNMA’s Structure, Monitoring to Reduce Risk Posed by Nonbanks

Ginnie Mae’s outdated organizational structure and staff levels have made it difficult for the agency to properly monitor and mitigate the risk posed by the increasing number of nonbanks participating in its MBS programs, according to the Department of Housing and Urban Development’s inspector general. In a recent briefing paper, HUD Inspector General David Montoya highlighted challenges Ginnie faces in monitoring nonbanks, adding that HUD is currently being audited by the IG to gauge its capacity to track and supervise nonbanks, said Montoya. Ginnie acknowledged...

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This weekly covers the secondary mortgage market, including mortgage-backed securities and asset-backed securities.

 

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