Ginnie Mae Looks to Beef Up GNMA II With Number of Major Program Changes
November 8, 2002
Ginnie Mae, looking to polish up its aged mortgage-backed security program, announced some major modifications this week. But significantly, all of the proposed changes involve the smaller and less popular GNMA II program. There have been rumblings over the past few months that Ginnie Mae was looking at ways to revolutionize its MBS program. Reportedly, the biggest – and most controversial