You get what you pay for.
Ginnie Mae’s continual requests for increased funding to hire more staff have fallen on deaf ears for years. To add insult to injury, the HUD Office of Inspector General released an Audit Report this week that criticizes Ginnie Mae for insufficient supervision of its non-depository issuers. The Report…
The United States Securities and Exchange Commission’s (“SEC”) Division of Enforcement continues to target issuers of Ginnie Mae mortgage-backed securities and charge those who violate federal securities laws. Importantly, those cases seek penalties not only against the companies but also their senior executives. Issuers of Ginnie Mae securities must comply not only with HUD/GNMA regulations,…
