Ginnie Mae's updated capital requirements affect both banks and nonbanks, and many believe that the new requirements are not manageable, while others say they're prepared for the new rules, which now go into effect at the end of 2024.

Ginnie reduced the minimum 10% the risk-based capital ratio it had proposed to 6%, consistent with the non-risk-based standard already in place.

However, it did not change aspects of its earlier proposal that imposed a risk weighting for a variety of assets, most notably retaining 250% for mortgage servicing rights similar to the ratio imposed on banks. Also, while it adjusted its overall ratio calculations in ways aimed at meeting nonbank needs, not everyone was happy with the formula. 

Read more about the new regulations as well as reactions within the industry in our roundup.