Bray noted that Ginnie’s memorandum, which established a new pool type for re-performing loans, “puts significant restrictions" on issuers, increasing both the risk and the cost...
The bureau said it will “closely monitor how servicers engage with borrowers, respond to borrower requests, and process applications for loss mitigation.” If compliance issues arise, it will take into account a servicer’s overall effectiveness in helping consumers.
The creation of a U.S. sovereign wealth fund could grease the skids for an end to the conservatorships of Fannie Mae and Freddie Mac.
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