loanDepot hit with Ginnie Mae Sanctions

According to National Mortgage News nine lenders including loanDepot were warned last year that they could be removed from the specific VA programs; the issue stems from rapid refinancing of VA loans or churning; beginning Feb 1 loanDepot can’t include VA loans in Ginnie Mae I or Ginnier Mae II multi-issuer securities; the restriction on the company will expire on July 1.  Source

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