Mortgage services firm LenderLive obtained the necessary approvals this week to serve as a Ginnie Mae issuer.
The Denver-based firm will be working off of the Ginnie Mae I and II single-family mortgage-backed securities program. As an issuer LenderLive will be acquiring or originating eligible mortgages and forming eligible pools or loan packages.
Obtaining access enables the company to help banks, credit unions and private investors with private-label subservicing, while expanding the number of products accessible through LenderLive’s correspondent lending business.
The change occurs at a time when more consumers are relying on community banks and small financial institutions.
"With the ongoing changes in the market it is imperative that we continue to enhance our product and service offerings," said Rick Seehausen, president and CEO of LenderLive. "Becoming an approved Ginnie Mae issuer is just one way we strive to provide our customers with the products and services to meet their specific business needs."