Ginnie Mae Removes a Step for Servicers on some FHA Loan Modifications
Industry Update
January 24, 2022
Source: National Mortgage News
New streamlined documentation requirements could make it easier for mortgage companies to quickly help some borrowers with long-term losses of income from the pandemic as temporary payment suspensions end.
The change will allow companies processing some of the tens of billions of dollars worth of newly issued mortgage-backed securities that government agency Ginnie Mae insures each month to skip certain requirements when modifying mortgages to accommodate lower monthly payments.
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