Sam Valverde, acting president of Ginnie Mae, noted that Ginnie and the Department of Veterans Affairs have policies in place to prevent refis that don’t benefit borrowers and they will continue to watch for “abnormal” refi activity.
Karan Kaul, a senior policy advisor at Ginnie Mae, said Ginnie and others need to analyze the various reform proposals that have been released in recent years.
“If we had a major economic downturn, I don’t know what kind of havoc we would have right now, because there’s no stability,” said Ted Tozer, a former president of Ginnie Mae.
Moves by the Trump administration are disrupting the economy and the federal agencies that deal with the housing market. Bob Broeksmit, president and CEO of the MBA, isn’t sure how it’s all going to play out.
House Republicans called for the Department of Housing and Urban Development to roll back the FHA payment supplement program.
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