Ginnie Mae halts MSR transfer from BAC to nonbank
MSRs lack documents, firm says
Kate Berry at American Banker has a great scoop on Ginnie Mae halting the transfer of MSRs from Bank of America (BAC).
Ginnie Mae has halted the transfer of mortgage servicing rights from Bank of America to a nonbank servicer because of missing documents. The agency is asking the top servicers for an inventory of loans with missing documents.