Changes face mortgage lenders that are seeking to become approved with the Government National Mortgage Association.
Up until now, institutions used Form HUD-11701 when applying to become a Ginnie Mae issuer. The form was a joint application for applying to both Ginnie Mae and the Federal Housing Administration for approval.
But that form will no longer be available.
In APM 10-05, the government-owned company said new issuer applicants will need to use the new Form HUD-11701, Application for Approval – Ginnie Mae Mortgage-Backed Securities Issuer.
The new form is already effective.