More clarity on the matter is expected later this month when Ginnie is set to release new guidance at the annual convention of the Mortgage Bankers Association.
The watchdog arm of Congress noted that the Treasury hasn’t implemented 6 out of 24 recommendations relating to housing programs funded by the Troubled Asset Relief Program.
There have been some reports – unconfirmed – that some Wall Street firms are considering extending “repo” lines to non-QM funders, but that hasn’t happened yet.