Ginnie Mae in recent weeks has rolled out two minor changes to improve the efficiency of its MBS guaranty program, but the agency’s biggest challenges – and opportunities – lie in the fate of the FHA and VA mortgage insurance programs.In All Participants Memo 06-04, Ginnie Mae announced that pool processing times for all Ginnie Mae II single-family, multiple issuer pool packages submitted electronically will be reduced by one day. The change takes effect in July and it means pool processing times for new MIP securities will be reduced from four business days to three, with delivery of the security to the Federal Reserve on the fourth business day...