Earlier this month, Ginnie Mae proposed significant increases in financial requirements for independent mortgage bank issuers and a new bank-like risk-based capital requirement.

The Community Home Lenders Association (CHLA) acknowledges that Ginnie Mae has a responsibility to monitor the risk of its issuers. But, as the only national organization exclusively representing IMBs, CHLA is concerned that these changes could reduce access to mortgage credit, disproportionately affect smaller issuers, and increase issuer concentration. 

When Willie Sutton was asked why he robbed banks, he allegedly replied, “Because that’s where the money is.” 

So today, CHLA submitted a detailed details ⇒

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