Ginnie Urged to Beef Up Disclosures, Products

Mortgage-backed securities researchers and traders in New York have suggested that Ginnie Mae beef up its disclosures, loan products, and bond structures and give borrowers who warrant it a break on some mortgage insurance premium requirements, according to The Bond Market Association.Nadine Cancell, the association's vice president and assistant general counsel, told MortgageWire that these were the four areas that market participants agreed in recent discussions would both be cost-effective for Ginnie Mae and "have a big impact on the market." The association is among those that recently submitted suggestions to Ginnie in response to a recent request for comments that was aimed at determining "whether any existing requirements and procedures represent unnecessary hindrances to Ginnie Mae's business partners."