Ginnie Mae APM 19-05, issued August 1, 2019, announced GNMA’s new pooling requirements for VA cash-out transaction with an LTV of 90.01% to 100% (currently there is no distinction for LTV).
Due to the new pooling structure being implemented by Ginnie Mae, Homebridge will be applying a new price adjustment to VA cash-out transactions with an LTV of 90.01% to 100% as detailed below:
- Transactions with a Note date on or after October 1, 2019:
- A 200 bps price adjustment will apply (in addition to any other applicable adjustments)
- Transactions with a Note date on or before September 30, 2019:
- Current pricing applies (no price adjustment due to LTV)
The Homebridge rate sheet will reflect the new 200 bps price adjustment on Monday, September 23, 2019
If you have any questions, please contact your Account Executive