Refi Changes from FHA & VA

FHA just announced a rule change on cash out refinances effective with Case Numbers ordered September 1^st. FHA’s max loan to value and combined loan to value on cash out refinances will now be 80% instead of 85%.

Next Ginnie Mae who issues mortgage bonds for both FHA and VA loans announced that on VA cash out refinance loans with a loan to value > 90% that Ginnie Mae will place these loans in a special pool of bonds started November 1^st. What does this mean? I expect these types of loans will have higher interest rates for the borrowers as the VA allows for a cash out refinance up to 100% LTV of their home.