Ginnie Mae on Friday announced that it has extended the mandatory implementation date of its controversial risk-based capital requirement (RBC) for nonbanks to Dec. 31, 2024.

The rule — which reduced the minimum risk-based capital ratio from 10% to 6%, but put a 250% risk weight on the MSR asset and the dollar-for-dollar deduction from capital for excess MSRs — was set to go into effect at the end of 2023.

In a statement, Ginnie Mae acknowledged some of the concerns mortgage trade groups and lenders had about complying with the new rules. details ⇒

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