Recent concerns about churning mortgages to veterans that are securitized for the Government National Mortgage Association have been addressed by recently passed legislation.
Last week, President Donald J. Trump signed into law S. 2155, the Economic Growth, Regulatory Relief, and Consumer Protection Act.
Among the new law’s provisions is a prohibition of Ginnie Mae guaranteeing mortgage-backed securities containing certain loans guaranteed by the Department of Veterans Affairs.
Source: Mortgage Daily
