Letters

SIFMA Response to Remediation of Issues Related to Rapid VA Loan Refinancing

Summary

SIFMA provided comments to Ginnie Mae, supporting efforts to investigate and remediate issues with rapid refinancing of Veterans Affairs (VA) loans which are securitized in Ginnie Mae-guaranteed mortgage backed securities (MBS). We are concerned that these activities may negatively impact VA borrowers and believe they have negatively impacted the mutual funds, 401k plans, and other savers invested in Ginnie Mae MBS. We echo the concerns of Senators Elizabeth Warren and Dean Heller expressed in their recent letters and applaud their interest in these issues.

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Committee

SSG/AMG Agency MBS Investor Committee, SIFMA Securitization Group (SSG)

Date

18

October

2017