The Government National Mortgage Association, known as Ginnie Mae, said it will consider the effect of the Hope for Homeowners program before acting against security issuers whose pools have high delinquencies.

The agency requires issuers to keep delinquency rates on outstanding pools below certain thresholds. Ginnie can take a variety of actions against a lender that fails to do so, such as forbidding it to issue new mortgage-backed securities or yanking its license to do business with the agency.

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