Slammed by a Mountain of Servicing Transfers, Ginnie Wants to Triple the Time Needed to Approve MSR Sales
January 16, 2014
Ginnie Mae is telling sellers of mortgage servicing rights and their advisors that it wants upwards of 90 days to approve MSR transfers compared to just 30 currently. The agency gave seller/servicers a heads-up on the longer approval times in late November at an education summit in Washington attended by both new and existing issuers. A copy of Ginnies presentation was provided to Inside Mortgage Finance. Advisory sources said...[Includes one data chart]