The Government Accounting Office reports that Ginnie Maes mortgage-backed security program doesnt comply with requirements of the Credit Reform Act and recommended to Congress that the agency change the budgetary treatment of its guaranty program to comply and facilitate better data analysis.

In a July 28 report issued to Chairman of the Senate Budget Committee, Sen. Jim Sasser, D-Tenn., the GAO recommended that the Office and Management and Budget require Ginnie Mae to budget for its mortgage-backed security guarantees using its guarantee issuance dates exclusively.

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