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Home » Ginnie Mae Redefines ‘Defective Mortgage,’ Clarifies Buyout Criteria for Loans with No FHA, VA Coverage
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Ginnie Mae Redefines ‘Defective Mortgage,’ Clarifies Buyout Criteria for Loans with No FHA, VA Coverage

January 12, 2018
Ginnie Mae is redefining the term “defective mortgage” to remind issuers of their obligations when confronted by a home loan that does not have federal insurance or a guarantee. The action also clarifies options issuers may consider in dealing with defective mortgages.
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