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Ginnie Mae Unveils IO/PO Securitization Option, More Flexibility in Servicing Fee Ginnie Mae has unveiled two new types of bonds this year in efforts to satisfy investor demand and spark greater interest in Ginnie Mae securities. But will industry skepticism get in the way of its success? The first bond program creates interest-only and principal-only strips, formed by taking the interest and principal payments from a pool of FHA and VA loans out of mortgage-backed