Ginnie Mae Issuance

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

May 11, 2012 - Inside FHA Lending

Independent Lenders Fill Void in MetLife's Wake

Home Equity Conversion Mortgage loans remain widely available, thanks to the independent lenders that rallied to plug the gaps as major players bolted from the reverse mortgage market, an industry executive told lawmakers this week. In testimony during a House subcommittee hearing on FHA regulation of the HECM market, Jeffrey Lewis, CEO of Generation Mortgage Co., said MetLife’s departure from the market and closure of its traditional mortgage-origination business say nothing about the value of the HECM product to consumers. Lewis said MetLife’s decision was a strategic one and had nothing to do with ... (1 chart)


May 11, 2012 - Inside FHA Lending

Ginnie Mae Requires New SF Data Disclosures

Ginnie Mae has announced new data disclosures effective Sept. 1, but investors say it is information they do not need. These include indicators identifying first-time homebuyers, type of third-party originator, and the upfront and annual mortgage insurance premiums. The new disclosures will provide greater transparency on the collateral that backs Ginnie Mae mortgage-backed securities, the agency explained in its latest guidance to program participants. The move also aligns Ginnie Mae’s data disclosures with the industry, it added. Issuers that are unable initially to provide the data will ...


May 11, 2012 - Inside MBS & ABS

GSEs Focused on HARP, New MBS Platform; Ginnie Mae Copes With New Issuer Demand

Fannie Mae and Freddie Mac reported robust activity in their expanded refinance programs for underwater borrowers, while Ginnie Mae is looking at new procedures to identify the potential new issuers that are most likely to become strong participants in its program. Freddie officials are very focused on the expanded Home Affordable Refinance Program, said Paul Mullings, senior VP for single-family sourcing at the government-sponsored enterprise. He told attendees at the Mortgage Bankers Association National Secondary Market Conference in New York this week that HARP now accounts for 26 percent of the refi loan...


April 27, 2012 - Inside FHA Lending

Ginnie Mae Servicers Off to Good Start in 1Q12

Combined servicing volume for the top 50 Ginnie Mae MBS servicers jumped to $1.23 billion in the first quarter of 2012 from $1.11 billion during the same period a year ago – an 11.2 percent increase on a year-over-year basis, according to the Inside Mortgage Finance MBS Database. The quarterly change was a modest 1.7 percent increase from $1.21 billion in the fourth quarter of 2011, data showed. Wells Fargo and Bank of America accounted for 53.5 percent of total Ginnie Mae servicing in the first quarter, with $361.1 million and $302.1 million, respectively. Year-over-year, top-ranked Wells Fargo (29.1 percent market share) saw a ... (1 chart)


April 13, 2012 - Inside FHA Lending

FHA, GNMA Urged to Improve Risk Management

The FHA and Ginnie Mae continue to face risk-management challenges despite steps they have taken to better assess, manage and minimize risk, according to an updated report from the Government Accountability Office. The report said recommendations the GAO made in a previous assessment to improve risk management have not been fully implemented at either of the agencies. Both agencies, however, said efforts are underway to implement GAO recommendations. The FHA is getting more scrutiny from Congress because of the weak condition of the Mutual Mortgage Insurance Fund, whose capital reserve ratio has ...


April 6, 2012 - Inside The GSEs

FHLBank Agency MBS Investments Slip in 4Q 2011

Fannie Mae and Freddie Mac mortgage-backed securities remained the preferred investment choice of the Federal Home Loan Banks during the fourth quarter of 2011, with a minor decline posted from the previous quarter, according to a new analysis by Inside The GSEs based on data from the Federal Housing Finance Agency. Ginnie Mae securities likewise posted a decline within the 12 FHLBank system during the three-month period ending Dec. 31, 2011. GSE MBS accounted for 69.6 percent of combined FHLBank MBS portfolios, down 2.1 percent from the third quarter of 2011. The Finance Agency’s data do not separately break out Fannie and Freddie volume or share.


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