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Home » Store » Taxable » Servicers Face Tighter Rules on Buying Defaults From Ginnie Mae Securities

Servicers Face Tighter Rules on Buying Defaults From Ginnie Mae Securities

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Ginnie Mae officials late last week announced new rules that will make it more difficult for lenders to buy delinquent FHA and VA loans out of the agency’s mortgage-backed securities. The move appeases, to some extent, criticism raised by MBS traders and investors that Ginnie Mae has made it too easy for mortgage bankers that issue and service the agency’s securities to repurchase delinquent
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