Specifically, Ginnie is permitting a note structure, which allows for the securitization of servicing cash flows through a trust.

FHFA's stance has mortgage bankers perplexed, to say the least...

Since going public earlier in the year, Velocity Financial's share price has cratered...

The six-month tally would be at least $45 billion. The calculations from the research firm take into account prepayment cash flows buffering principal and interest advance requirements.

Refi volume was clearly gaining speed in March. On a combined basis, deliveries of FHA and VA refi loans grew 8.4% from February…

At March 31, Mr. Cooper serviced $629 billion worth of home mortgages, including $129 billion of Fannie Mae/Freddie Mac product and $108 billion of Ginnie Mae loans. However, roughly half its portfolio, $317 billion, is represented by subservicing contracts.

Apparently, it’s not Ginnie Mae MBS payments that are keeping the 15 up at night, but remittances on Fannie Mae and Freddie Mac single and multifamily securities. Private-label products also pose a concern.