Ginnie Mae's new multi-issuer pool type has received positive reviews since it was announced on Oct. 15, as the program appears to have tempered investor concerns that the new securitized loans would be a drag on the current programs.

The agency will create a separate pooling of FHASecure loans within the Ginnie Mae II program, effective Dec. 1. FHASecure is the policy launched in August by President George Bush that refinances delinquent adjustable-rate mortgages into FHA-insured loans when they become delinquent due to a rate reset. It also refinances fixed-rate conventional loans with subordinated second liens in FHA-insured products.

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