Ginnie Mae Cuts Costs, Enhances Issuers’ Profitability by Installing New Technology
June 9, 2006
Issuers and FHA/VA lenders will find doing business with Ginnie Mae more efficient and profitable because of changes to the agency’s mortgage-backed security guaranty program and an innovative interest-only MBS program designed to ease regulatory pressure on mortgage servicing rights portfolios. Ginnie Mae announced two minor changes in All Participants Memo 06-04. First, the agency reduced the processing time to one day for all electronically submitted Ginnie Mae II single-family, multiple issue pool packages. This…