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Ginnie Mae halts MSR transfer from BAC to nonbank

MSRs lack documents, firm says

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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.

Source: American Banker
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