Ginnie Mae sets sights on a permanent liquidity facility
Ginnie Mae sets sights on a permanent liquidity facility
Abstract
Ginnie Mae has taken steps to help make financing for issuer liquidity available in recent years, including during the pandemic. "We need to have something permanently in place for that kind of an event for the future," President Alanna McCargo said. Nonbanks need more oversight because the role they have increasingly played in the servicing and financing of government loans has gotten very large, she said. Other government agencies insure or guarantee the mortgages at the loan level. The next time the industry faces turbulence, it may not be so lucky. '
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