Citing "recent industry and market conditions," the Government National Mortgage Association said it will raise the bar for issuers of its mortgage-backed securities.

In a memo to lenders dated Friday, Michael J. Frenz, an executive vice president at the agency better known as Ginnie Mae, said that by Oct. 1, 2010, all issuers of its single-family securities must have net worth of at least $1 million, quadruple the current requirement for most single-family issuers and double that for securitizers of reverse mortgages.

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