Skip to main content

Advantage Systems adds additional security feature to Accounting for Mortgage Bankers software

Nov 06, 2008

Ginnie Mae announces new procedures for monitoring loan data submitted by issuersMortgagePress.comGinne Mae, Government National Mortgage Association, FHA, VA, The Government National Mortgage Association (Ginnie Mae) has announced a new review process and electronic notice system to ensure that all Ginnie Mae mortgages are insured or guaranteed. Currently issuers report only loan level data to Ginnie Mae. That data is then compared to corresponding data provided by the Federal Housing Administration (FHA), the Department of Veterans Affairs, or the USDA Rural Development. Under the newly-announced system, mortgages with non-matching information will be issued monthly notifications via the Ginnie Mae e-Access Web site. Issuers will be responsible for monitoring and promptly resolving such data errors. Newly-originated pools of FHA mortgages will be reviewed monthly for non-matching loans in these pools, while evaluations of mortgages older than six months will not begin until December 2008. Beginning November 2008, Ginnie Mae will evaluate loans in pools that appear "terminated," a designation for loans that are likely uninsured or have serious data errors. For a copy of the announcement, click here. For more informaiton, visit www.ginniemae.gov.
About the author
Published
Nov 06, 2008
More from
Tech
Majority Of Homebuyers Have Concerns About Lender AI

60% of survey respondents said lender AI is a deal-breaker, Cloudvirga reports

Oct 23, 2024
Acrisure Welcomes Chief People Officer

Robin Benoit, who has served in an interim capacity since March 2024, takes on the role.

Sep 26, 2024
Simplist Technologies Officially Launches Sonar After Lengthy Beta Period

Sonar beta tested with over 200 lenders over the past year and a half.

Sep 25, 2024
ICE Expands Credit Dispute Processing For Mortgage Servicers

ICE Credit Bureau Management automates credit disputes, helping servicers meet 30-day reporting deadlines.

Sep 24, 2024
UWM Works To KEEP The Refis Rolling In

The wholesaler launches an AI-driven system, KEEP, that identifies borrowers in need of a refinance

Sep 11, 2024
Social Savvy

Brandon Treadway on maximizing mortgage marketing with social media

Sep 09, 2024