A surge in refinance activity — especially in the VA program — led to a significant increase in loan removals from Ginnie Mae MBS during the first quarter of 2024.
Sam Valverde, Ginnie Mae’s principal executive vice president, will serve as acting president, while Laura Kenney, senior advisor for strategic operations, will assume additional duties.
Agency MBS investors saw spreads widen in April due to volatility surrounding the Fed. Still, banks are showing demand for MBS and the market is poised for a boost, according to industry participants.