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U.S. Is Restricting Lenders in Veterans' Mortgage Crackdown

U.S. Is Restricting Lenders in Veterans' Mortgage Crackdown

NewDay USA and Nations Lending Corp. have been restricted effective this week from issuing Ginnie Mae bonds that are intermingled with loans from other lenders, according to a person familiar with the matter. The move follows an examination by Ginnie Mae, a government-owned corporation that guarantees about $2 trillion in mortgage-backed securities, including loans backed by the Department of Veterans Affairs.

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