Ginnie Mae Issuance

Browse articles from all of our Newsletters related to Ginnie Mae Issuance.

January 18, 2019 - Inside FHA/VA Lending

Plan Afoot to Reintroduce VA ‘Orphan Loan’ Measure

Congress reportedly plans to reintroduce legislation that would restore Ginnie Mae eligibility for hundred-million dollars’ worth of so-called orphan VA streamline refinance loans. H.R. 6737, Protect Affordable Mortgages for Veterans Act of 2018, was passed by the House by voice vote on Sept. 26 last year and was sent to the Senate, where it was stalled on a technicality. The bill aimed to clarify new seasoning requirements in the Dodd-Frank Wall Street Reform and Consumer Protection Act (S. 2155) that specifically applied to VA’s Interest Rate Reduction Refinance Loans and which became effective upon enactment. The requirements were designed to curb churning of VA loans that were triggering unusually fast prepayments in Ginnie Mae mortgage-backed securities. Some lenders and brokers were soliciting homeowners to refinance their VA mortgages more than once to ...


January 18, 2019 - Inside FHA/VA Lending

Bright’s Hasty Exit Leaves a Vacuum at Ginnie Mae

Ginnie Mae has reached the halfway mark of President Trump’s first term without a permanent leader and appears likely to remain so until after the 2020 presidential election. Last week, Michael Bright, President Trump’s nominee to head Ginnie Mae, abruptly announced his resignation after waiting for months to be confirmed. Bright, who was executive vice president and chief operating officer, served as acting president of the agency after former President Ted Tozer resigned at the end of the Obama administration. Senate rules require resubmission if a nominee is not confirmed within the year he or she was nominated. This means going through the Senate vetting and confirmation processes all over again. It appears Bright no longer wanted to do that, opting instead to join the Structured Finance Industry Group, which represents all segments of the securitization industry, as president. In a Jan. 9 resignation letter to ...


January 18, 2019 - Inside MBS & ABS

Ginnie Issuer Ditech Gets a Breather from Note Holders

Ditech investors that control a large portion of the nonbank’s “Toggle Notes” have agreed not to force the troubled lender/servicer into bankruptcy — at least for now, according to a new 8-K filing with the Securities and Exchange Commission.


January 18, 2019 - Inside MBS & ABS

Shutdown Impedes Ginnie Liquidity Letters, Summit

The federal government shutdown is affecting business operations of Ginnie Mae, forcing the government guarantor to scuttle its annual summit with issuers and delaying progress on “liquidity letters.”


January 17, 2019 - Inside Mortgage Finance

A Week After Bright’s Exit, Ginnie Delays Annual Meet

Ginnie Mae announced that its 2019 annual summit scheduled for Feb. 4 and 5 in Washing-ton, DC, has been postponed, a casualty of the ongoing government shutdown. The announcement came midweek — and on the last day of service for acting President Michael Bright.


January 17, 2019 - Inside Mortgage Finance

Large Nonbanks Grow Agency Servicing Share

A handful of heavyweight nonbanks ended 2018 with significant increases in their portfolios of servicing rights tied to agency mortgage-backed securities, according to an exclusive ranking and analysis by Inside Mortgage Finance.


January 11, 2019 - Inside Mortgage Trends

TPO Production Channels Grew in Agency Market

Retail mortgage lending continued to lose market share in the second half of 2018, mostly due to a surge in correspondent production. A new Inside Mortgage Trends analysis of mortgage-backed securities data shows that the retail share of loans sold to Fannie Mae, Freddie Mac and Ginnie Mae fell to 48.6 percent last year. During the fourth quarter, sales of retail-originated loans declined by 14.9 percent, the sharpest downturn among ... [Includes two data charts]


January 11, 2019 - Inside MBS & ABS

Ginnie's Bright Resigns. Meaning for GSE Reform?

Acting Ginnie Mae President Michael Bright handed in his resignation this week, creating yet another vacancy in the Department of Housing and Urban Development hierarchy, and sparking discussions on what his departure might mean for reform of Fannie Mae and Freddie Mac.


January 4, 2019 - Inside FHA/VA Lending

Groups Resist Use of GNMA Model in GSE Reform Plan

The mortgage banking industry has raised concerns about a legislative proposal that would eliminate the current government-sponsored enterprise market and create a new secondary market structure based on a Ginnie Mae model.


January 4, 2019 - Inside FHA/VA Lending

Ginnie MBS Issuance Down In 4Q Despite Refi Uptick

Ginnie Mae issuance of single-family mortgage-backed securities fell predictably in the fourth quarter, despite an unexpectedly strong market for refinance loans. [Includes four data charts.]


January 4, 2019 - Inside MBS & ABS

Ginnie Mae’s Accounting Woes Continued in FY 2018

Ginnie Mae again failed to correct an accounting flaw in its financial statements, prompting the Department of Housing and Ur-ban Development to withhold its opinion on the agency’s 2018 financial statement for the fifth consecutive year.


December 14, 2018 - Inside FHA/VA Lending

Around the Industry

Mortgage broker trade group introduces NAMB All-In. Genworth launches risk-based pricing engine. VA updates fee-cost schedule. Industry groups pressure Senate to confirm Trump nominee for GNMA.


December 14, 2018 - Inside FHA/VA Lending

Analysts Suggest Interim Action for Ginnie Mae on Cash-Out Refi Loans

Mortgage-backed securities analysts are recommending that Ginnie Mae temporarily place VA cash-out refinance loans with high loan-to-value ratios in custom pools until the VA implements new rules to curb churning in cash-out refis.


December 14, 2018 - Inside FHA/VA Lending

GNMA Data Reveal Sharp Increase in FHA Risk Layering Over 2 Years

FHA officials have sounded alarms over the rising concentration of higher-risk loans in new business. An exclusive new Inside FHA/VA Lending analysis shows they have good reason to be concerned. (chart)


December 14, 2018 - Inside MBS & ABS

GNMA Sees Digitized Mortgages as the Future, Aims to Become Leader in Tech and Innovation

Digital mortgage is the cornerstone of Ginnie Mae’s efforts to modernize its operating systems as it vies for industry leadership in technology and innovation, according to top agency executives.


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