Ginnie Mae is seeking comment on a proposed rule affirming its legal authority to guarantee securities backed by excess servicing rights on new and existing Ginnie Mae II fixed-rate mortgage-backed securities. Published in the Sept. 14 Federal Register, the proposed rule clarifies Ginnie Mae’s authority to guarantee “excess yield securities,” which the agency described as “interest only securities” backed by excess servicing income relating to one or more mortgage loan pools or loan packages…