Ginnie Mae president Kevin Chavers is walking a fine line between the Mortgage Bankers Association and Wall Street on a proposal to change the way some of the agency's securities are structured.

In his first public comment on the MBA's push to make more of the securities easier to trade by categorizing them as Ginnie Mae I securities, Mr. Chavers told American Banker he would "prefer to look at ways to enhance the program without changes that could raise liquidity questions."

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