A watchdog report indicates that the Government National Mortgage Association’s resources are being strained by the increase in non-bank issuers.
Ginnie Mae previously reported $472 billion in issuance of mortgage-backed securities that were secured by residential loans in fiscal-year 2016.
During that same year, non-bank entities were responsible for 73 percent of the Washington-based organization’s single-family MBS issuance.
Source: Mortgage Daily
