General World News

Ginnie Mae: Vast majority will be able to comply with new capital rule

Following grumblings from some servicers and industry trade groups, Ginnie Mae on Tuesday issued a statement that most nonbank mortgage companies it does business with will be able to comply with its upcoming — and controversial — capital rule requirements.

“While the overwhelming majority of Ginnie Mae issuers are compliant with these requirements today, we will continue engaging with our issuers throughout the implementation period,” Ginnie President Alanna McCargo said in a statement.

In the form of an FAQ, Ginnie Mae published answers related to a 250% risk weight for mortgage servicing rights, details ⇒

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