Ginnie Mae Implements Broad-Based Servicer Liquidity Facility; Initial Deadline Today

Late Friday, Ginnie Mae issued All Participants Memorandum 20-03 (APM 20-03), which expands its Issuer assistance programs to current circumstances stemming from the coronavirus pandemic. The APM introduces a new version of its existing Pass-Through Assistance Program for use by issuers facing a temporary liquidity shortfall directly attributable to the COVID-19 National Emergency.