Ginnie Mae Restricts Three Issuers in VA Loan Program – NMP Skip to main content

Ginnie Mae Restricts Three Issuers in VA Loan Program

Phil Hall
Jun 05, 2018
Ginnie Mae announced that issuance of its mortgage-backed securities (MBS) totaled $63.44 billion in May

Ginnie Mae has announced that it has restricted VA single-family guaranteed loans pooled by Freedom Mortgage Corporation, SunWest Mortgage and NewDay USA in Ginnie Mae pools to Ginnie Mae II custom pools only.
 
According to the agency, the three issuers are restricted from including VA single-family guaranteed loans in Ginnie Mae I securities or Ginnie Mae II multi-issuer securities. However, Freedom and SunWest remain approved as Ginnie Mae issuers and remain authorized to pool FHA and RHS single family insured mortgages in all eligible Ginnie Mae pool types. The restriction for both issuers of their VA single family loans to Ginnie Mae II custom pools is effective for July 1, 2018, issuances and concludes with Jan. 1, 2019 issuances.
 
NewDay will remain as an approved Ginnie Mae issuer and remains authorized to pool FHA and RHS single family insured mortgages in all eligible Ginnie Mae pool types. NewDay's restriction to Ginnie Mae II custom pools commenced with its April 1, 2018 issuances and concludes with its Oct. 1, 2018 issuances.

 
Published
Jun 05, 2018
Homeward Lays Off 20% Of Staff

Alternative real estate financing company cut about 120 jobs.

Industry News
Aug 12, 2022
Lone Peak Lending Joins Panorama Mortgage Group

Names Donovan Stamps as president.

Industry News
Aug 11, 2022
Fairway Independent Mortgage Hires Former PrimeLending President

Firm says Scott Bristol is part of aggressive originator expansion.

Career
Aug 11, 2022
Mortgage Rates Jump Back Above 5%

Freddie Mac says rates recent volatility continues.

Industry News
Aug 11, 2022
Redfin: Share Of Relocating Buyers At All-Time High In July

People are looking for less expensive and better lifestyles.

Industry News
Aug 11, 2022
Redfin Expands iBuying Business To Florida

RedfinNow, which makes cash offers for homes, now operates in 34 markets in 16 states and the District of Columbia.

Tech
Aug 11, 2022