Single loans will be open for securitization
April 28th, 2010
Written by Frost Mortgage
Categories: Announcements, Branch Partner Opportunities, FHA, Federal Housing Administration, GSEs, Ginnie Mae, Mortgage Banker News, Mortgage rule changes, Net Branch Opportunities, Net Branch Partners, News, Real Estate News
Smaller lenders will get a boost in July when Ginnie Mae begins insuring the securitization of single loans, as opposed to only the bundles it will insure now. Current rules favor the largest lenders, according to the Washington Post.
The FHA will also issue loans on a daily rather than a weekly basis.
Housing Secretary Shaun Donovan made the announcements at a conference hosted by the Mortgage Bankers Association.
According to the Post, “Ginnie Mae requires its lenders to have a net worth of at least $1 million. The announcement comes when the FHA will soon be making similar demands on the lenders it works with.”
As experts in the field of FHA loans, we pay close attention to these developments. Are you a Broker/Owner or Producing Branch Manager who is as interested as we are in these issues? If so, take a look at Frost Mortgage for net branch opportunities. We think you’ll find that our Branch Partner opportunities are the best in the business. We look forward to talking with you.
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