Advanced Search

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.

Forgot your password?

Already subscribe but haven't registered for all the benefits of the website?

Subscribe

This weekly covers the secondary mortgage market, including mortgage-backed securities and asset-backed securities.

 

Pay-Per-View

You can purchase this article for $230.00 without subscribing and always have access to it on insidemortgagefinance.com.

Pay Per View

Please contact Customer Service if you need assistance: 1-800-570-5744

Poll

In 2016, what have you been paying your retail residential loan officers, on average, as a commission?

25 to 50 basis points per loan
51 to 75 bps
76 to 100 bps
101 to 150 bps
More than 150 bps
We’re a call center lender and don’t disclose that data point.

vote to see results
Housing Pulse