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Loan Modification

: Mortgage Lender Implode-o-Meter

Ginnie Mae Raises Net Worth Requirement From $1 Million to $2.5 Million

By Implode-Explode Heavy Industries

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"Ginnie Mae President Theodore W. Tozer has announced that it is increasing its net worth requirements for single family issuers for the second time in three months, from its current amount of a $1 million net worth requirement to $2.5 million. Ginne Mae also announced that it is changing the formula for calculating additional requirements above the base."

Full post as published by Mortgage Lender Implode-o-Meter on October 28, 2010 (boomark / email).

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