Opinion: What is Ginnie Mae Thinking With New Capital Rule?

HousingWire, Sept. 19, 2022–David Stevens, CMB
Since the announcement of the new capital rule, Ginnie Mae has been on the receiving end of a lot of backlash from industry and the analysts who associate with the mortgage banking marketplace. Despite significant, thoughtful feedback to Ginnie Mae about the impacts of some of their proposals, it seems that Ginnie Mae simply turned a blind eye to these concerns. As a former FHA Commissioner under President Obama, I was there when the first discussions of using the False Claims Act to penalize lenders was initiated. Over the two terms of the Obama administration, the outcome was made clear: Banks simply left the HUD program in force. (MBA mention)