Ginnie Mae just announced that the U.S. Department of Agriculture's Rural Development Multifamily Housing Program Section 538 guaranteed loans, which are used to revitalize section 515 loans, could now be used to back GNMA multifamily securities. According to a release from the HUD, this product will complement Ginnie Mae's existing multifamily securitization products as well as enhance the availability of multifamily housing for low and moderate-income families in rural areas.
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