Ginnie Mae announced Friday it has pushed back the implementation date of the risk-based capital requirement from next year to Dec. 31, 2024. Under the new standards, sellers and servicers will be necessary to maintain a base value of $2.5 million plus 35 basis points from the unpaid principal balance for Ginnie Mae servicing and 25 basis points of the unpaid principal balance for all other 1-to-4-family loans serviced. The decision to break the rules the implementation date came after feedback in the industry.
On Monday, Ginnie Mae said hello would shorten the re-pooling seasoning requirement of reperforming loans from six months to three months and permit issuers the choice to pool reperforming loans into TBA-eligible Ginnie Mae II multi-issuer pools. Ginnie Mae will implement the insurance policy changes no after no more the very first quarter of 2023. The modification reverses several temporary pooling restrictions placed on re-performing loans introduced throughout the pandemic.
