Citing "recent industry and market conditions, Ginnie Mae said it will raise the bar for issuers of its mortgage-backed securities.

In a memo to lenders dated Friday, Michael Frenz, executive vice president at Ginnie, said that by Oct. 1 of 2010 all issuers of its single-family MBS must have a net worth of at least $1 million, quadruple the current requirement for most single-family issuers and double that for reverse mortgage lenders.

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