What the Ginnie/VA task force will look for in its refi clampdown

Mortgage

Ginnie Mae and the Department of Veterans Affairs recently described in more detail the VA loan refinancing practices they will crack down on to eliminate a long-running churning concern.

The two agencies’ joint task force is looking at whether any VA refinance provides a data-based “net tangible benefit” for the borrower in terms of cost, and whether costs and benefits were fully disclosed to borrowers, according to a Ginnie Mae press release.

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