Joseph Murin, chairman emeritus of NewDay USA, has over 40 years of experience in the mortgage and banking industries. He served as president of the Government National Mortgage Association (Ginnie Mae) under both the Bush and Obama administrations.
“It’s time for us to stop treating the purchase mortgage as some kind of market impediment or red flag for our forecasts,” says Chairman of JJAM Financial and former Ginnie Mae President Joseph Murin
To protect veterans from predatory lending practices, Ginnie Mae and the Department of Veterans Affairs should remove lenders' financial incentive for originating Interest Rate Reduction Refinance Loans.
The federal government needs to recognize Ginnie Mae's importance to the housing industry and divorce its funding and oversight from the Department of Housing and Urban Development.