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.
The watchdog arm of Congress noted that the Treasury hasn’t implemented 6 out of 24 recommendations relating to housing programs funded by the Troubled Asset Relief Program.
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.