Ginnie Mae Expanding E-Reporting

Published August 09, 2005, 2:00 p.m. EDT

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Next year, Ginnie Mae plans to expand the electronic reporting of data from servicers and issuers of its securities."In 2006, Ginnie Mae will be significantly changing the way we collect data from you," said Mike Garcia, director of single-family housing at Ginnie Mae. Speaking at the Western States Loan Servicing Conference sponsored by the California Mortgage Bankers Association, Mr. Garcia said the electronic reporting initiative would require issuers to report data earlier than they do today and would make it easier to correct inconsistencies in loan data.

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