There have been a number of MBS issuers that have fallen short of Ginnie Mae’s strict liquidity and net worth requirements for all participants, but tighter oversight has cured most, if not of all of the cases, according to Ginnie’s top counterparty risk chief. Speaking this week at the annual Ginnie Mae summit in Washington, DC, Zack Skochko, director of counterparty risk, said several issuers have failed liquidity audits in 2016 by not maintaining the minimum $1 million cash or 10 basis points of outstanding Ginnie securities required to participate in the agency’s MBS program. The agency also requires...