The United States Securities and Exchange Commission’s (“SEC”) Division of Enforcement continues to target issuers of Ginnie Mae mortgage-backed securities and charge those who violate federal securities laws.  Importantly, those cases seek penalties not only against the companies but also their senior executives.  Issuers of Ginnie Mae securities must comply not only with HUD/GNMA regulations, but be prepared to demonstrate their compliance with the US securities laws and regulations, or face potentially significant consequences.  Read more about the latest enforcement action, costing a Ginnie issuer and its executives $12.7 million, in Mayer Brown’s Legal Update, available here.

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