Fake Prosperity Washington Style: Ginnie Mae's Refi Churn Machine Up $1.6 Trillion Since Crisis

ts proposal, released on Friday, is aimed at stopping so-called “churning,” a practice in which lenders push borrowers to refinance their home loans over and over in a bid to boost fees to the lenders. Ginnie Mae has made churning a priority in recent years. It started taking action against individual lenders last year when their activity suggested they were pushing refis on borrowers, even when the borrowers wouldn’t benefit from it.

 

 

 

 

 

 

 

 

 

 

https://www.wsj.com/articles/ginnie-mae-moves-to-crack-down-on-repeated-refinancings-11556875800?mod=hp_lead_pos5

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