Watchdog: Ginnie Mae Wasn’t Ready for Nonbank Mortgage Lending Boom
HousingWire, Sept. 25, 2017–Ben Lane
The report, published late last week by HUD Office of the Inspector General, states that over the last few years, Ginnie Mae “did not implement policies and procedures in a timely manner for its account executives to follow in managing issuers, did not develop a written default strategy, and did not assess and address the risks posed by nonbanks in a timely manner.”
