Ginnie Mae President Joseph Gormley, who is also serving as acting commissioner of the Federal Housing Administration (FHA), said the counterparties participating in Ginnie Mae’s program have evolved significantly since the Great Financial Crisis, with greater exposure to independent mortgage banks (IMBs) that have invested heavily in governance and risk management.

Still, he cautioned that some “outliers” remain: “We can’t tell you how to run your business,” Gormley said during the Mortgage Bankers Association (MBA)’s Secondary and Capital Markets Conference in New York on Monday. “But we can say that we like to see companies that have a details ⇒

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