Rumors of large-scale staffing cuts at Ginnie Mae are spooking Wall Street and the housing industry, who fear potential repercussions to the mortgage-backed securities market.

Mortgage lenders and developers are reportedly working their contact lists in Washington, D.C. to try and protect the company from the cuts already imposed by the U.S. DOGE Service, the government cost-cutting effort inside the White House led by the world’s richest man, Elon Musk, Bloomberg reported Friday.

HousingWire’s Reverse Mortgage Daily (RMD) reported on Wednesday that more than 40% of the company’s staff details ⇒

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