4.12.24
Ginnie Mae issued a public notice to their issuer partners cautioning about elevated prepayments in certain mortgage-backed securities (MBS) programs and warning of potential consequences for violations. Ginnie Mae’s compliance rules guard against ‘habitual refinancing’ which could impact the ‘seasoning’ of the securities. The notice warns that issuers that have been identified with unusually fast prepayment rates could expect more engagement with Ginnie Mae.
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