Ginnie Mae announces changes to RBC, re-pooling requirements

Ginnie Mae announced Friday it has pushed back the implementation date of the risk-based capital requirement from next year to Dec. 31, 2024. Under the new standards, sellers and servicers will be required to maintain a base net worth of $2.5 million plus 35 basis points of the unpaid principal balance for Ginnie Mae servicing and 25 basis points of the unpaid principal balance for all other 1-to-4-family loans serviced. The decision to push back the implementation date came after feedback from the industry.

On Monday, Ginnie Mae said it would shorten the re-pooling seasoning requirement for reperforming loans from six months to three months and allow issuers the option to pool reperforming loans into TBA-eligible Ginnie Mae II multi-issuer pools. Ginnie Mae will implement the policy changes no later than the end of the first quarter of 2023. The change reverses several temporary pooling restrictions placed on re-performing loans introduced during the pandemic.