Ginnie Mae Extending Temporary Relief for Servicers

The Government National Mortgage Association (Ginnie Mae) announced yesterday it would be extending the temporary relief initiated it its May 14, 2020 memo, Treatment of Mortgage Delinquency Ratios for Issuers Affected by COVID-19, from Dec. 31, 2020 to July 31, 2021. The extension should continue to provide relief to non-bank servicers, who currently originate over 90% of loans in Ginnie Mae MBS and have a seen a significant build-up of forbearance-related delinquencies in their books.

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