More clarity on the matter is expected later this month when Ginnie is set to release new guidance at the annual convention of the Mortgage Bankers Association.
There have been some reports – unconfirmed – that some Wall Street firms are considering extending “repo” lines to non-QM funders, but that hasn’t happened yet.
The initiative – which is being spearheaded by The Collingwood Group – comes at a time when the share prices of publicly traded mortgage companies have reached new lows.