Ginnie Mae Reinstates NewDay, Sun West Participation in Multi-Issuer Pools, Restricts Another Issuer
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Ginnie Mae has removed restrictions limiting issuers NewDay USA and Sun West Mortgage to custom pools for VA single-family mortgages. The restrictions were imposed in June last year due to prepayments speeds that were not in line with the market. At the same time, Ginnie announced pooling restrictions for United Security Financial Corp.