InfoBytes Blog
Ginnie Mae Revises Net Worth And Liquidity Requirements
On October 17, Ginnie Mae announced that it would be adjusting its minimum net worth and liquid asset requirements for Single-Family Issuers and Issuers that participate in at least two Mortgage-Backed Securities programs. For Single-Family Issuers, the minimum net worth will be $2,500,000 plus .35% of the Issuer’s total effective outstanding Single-Family obligations; the minimum liquidity will be either $1,000,000 or .10% of the Issuer’s Single-Family securities. For Issuers participating in more than one Mortgage-Backed Securities program, the new minimum net worth and liquid assets requirement will be adjusted so that they are “equal to or greater than the sum of the minimum requirements for all the program types in which the Issuer is approved to participate, as opposed to the highest program requirement.” The new requirements will be effective January 1, 2015 for those Issuers seeking approval in the new year, but for Issuers approved on or before December 31, 2014, the new requirements take effect beginning December 31, 2015.