Fannie Cautions Investors About Cash Flow From REMICs Backed by FHA and VA Loans
June 25, 2010
Loss mitigation rules on FHA and VA adjustable-rate mortgages may result in changes in the cash flow from structured securities backed by these loans that have been issued over the years by Fannie Mae, the government-sponsored enterprise said. A significant volume of FHA and VA loans, mostly delinquent loans repurchased from Ginnie Mae MBS pools, were resecuritized using structured...