Residential Financial Corporation is now a Ginnie Mae Seller-Servicer. This new privilege allows us to sell our own government insured loans (FHA/VA) without having to sell or depend upon an aggregator like Wells Fargo, Citi, or GMAC. Given the consolidation of the major players in our industry, this approval will allow us to have firm control of our own future in many ways.
Ginnie Mae is the only mortgage-backed security that enjoys the full faith and credit of the U.S. Government. They exist to make affordable housing a reality for millions of low to moderate-incomehouseholds across America by channeling global capital into the nation’s housing markets. With approximately $1.2 trillion of Mortgage-Backed
Securities (MBS) outstanding and more than $4 trillion of cumulative issuance, Ginnie Mae’s MBS program has been a significant contributor to the growth of the secondary mortgage market in the United States. This major milestone achieved by RFC truly reflects our commitment to loan quality and compliance. We’re absolutely thrilled to reach this level!
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