Because Bank of America is missing so many documents, Ginnie Mae put a planned sale of mortgage servicing rights on hold. While Bank of America assesses the problem, Ginnie Mae has decided to take inventory more broadly, Berry reports: “…Ginnie Mae, is trying to assess the magnitude of the problem of missing documents. Ginnie now plans to send letters this month to about 10 of the largest mortgage servicers – including B of A, JPMorgan Chase and Wells Fargo – that take part in a special program to expedite servicing transfers.”
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