Volume 2014 - Number 37
October 3, 2014
Downloads Available: GNMA Issuers Securitizing Modified FHA Loans - 6M14
HUD IG Audit Targets Ginnie Servicer Buyouts, But FHA Is Unwilling to Change Lender-Friendly Policy
A recent audit conducted by the Inspector General of the Department of Housing and Urban Development found that servicers earned roughly $428 million over a 19-month period by securitizing modified FHA loans in Ginnie Mae MBS. The way the IG sees it, those profits should go to the FHA’s Mutual Mortgage Insurance Fund, which has been below statutorily required levels for several years. At the very least, the IG wants FHA to reduce the $750 per loan incentive payment the agency provides servicers for loan modifications. “FHA does not have...[Includes one data chart]
Subscribers to Inside MBS & ABS have full access to all its stories and data online. Visitors may become subscribers for full access or may purchase individual articles and data.
Subscriber Log In
If you are a current subscriber or already purchased this article, please login below.
This weekly covers the secondary mortgage market, including mortgage-backed securities and asset-backed securities.
You can purchase this article for $230.00 without subscribing and always have access to it on insidemortgagefinance.com.
Please contact Customer Service if you need assistance: 1-800-570-5744