On August 10, Ginnie Mae announced risk management changes to “further strengthen its operations and to ensure that its program requirements better align with the rapidly changing housing finance market.” The enhanced risked management controls include increased net worth requirements for issuers of mortgage-backed securities, the implementation of institution-wide capital ratio requirements and the establishment of a liquid asset requirement for all single-family issuers. These changes affect the Title II program for all single-family mortgages. Click here to view the new requirements.

In addition, Ginnie Mae is currently working on the pooling requirements for the Manufactured Housing Title I program. As a follow-up to a meeting that was held in Washington, DC this past July, MHI and industry lender members are continuing to work with senior FHA staff in examining the capital requirements for lenders to participate as Ginnie Mae issuers.

If you are a member and have questions, contact MHI Vice President of Government Affairs Jason Boehlert at jboehlert@mfghome.org.