Federal Home Loan Bank members will be able to sell FHA, VA and rural housing loans through a Federal Home Loan Bank program soon and these loans will be pooled into Ginnie Mae MBS.
The
Ginnie Mae president Ted Tozer told NMN that the lenders will be able sell their government-backed loans and retain the servicing.
Wells Fargo will be the master servicer and the sellers will send their monthly servicing reports to Wells.
Speaking at a National Association of Federal Credit Unions conference Monday, Tozer said World Bank officials indicated they would purchase FHLB Ginnie Mae MBS for a premium due to the credit quality.
