REGISTER NOW
A Ginnie Mae proposal to introduce a risk-based capital requirement for nonbanks has sparked an outcry from mortgage lenders that originate the vast majority of loans to first-time homebuyers and minorities.
Ginnie issued a
request for input in early July on a plan that would impose added net worth and liquidity requirements for all issuers. It would also subject nonbank lenders to a 10% risk-based capital ratio with a risk weight of 250% for mortgage servicing rights dramatically higher than the calculation for other assets.
State and federal regulators have sought for years to impose prudential regulation and stress-testing on nonbank lenders but the new Ginnie plan is the first to include a risk-based capital standard.
How much capital does a independent mortgage bank need | National Mortgage News
nationalmortgagenews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from nationalmortgagenews.com Daily Mail and Mail on Sunday newspapers.
State Regulators Urge Department of Education to Rescind Preemp
acainternational.org - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from acainternational.org Daily Mail and Mail on Sunday newspapers.
POLITICO Playbook: Putin ignores Biden s tough talk
politico.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from politico.com Daily Mail and Mail on Sunday newspapers.